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Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...
Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...
Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...
Income Tax : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
ITAT Delhi quashes search assessments for Jagat Group, ruling that a single, consolidated approval letter for multiple assessees and years under Section 153D was invalid and mechanical.
Tribunal held that interest earned on FDs from borrowed funds for a highway project under construction must be capitalized against CWIP, dismissing Revenue’s claim to tax it as income from other sources.
Summary of Section 37(1) IT Act for business expenditure deduction. Covers “wholly and exclusively” test, commercial expediency, and disallowance of capital, personal, and illegal expenses.
ITAT Mumbai sets aside PCIT’s order, holding that AO’s acceptance of Section 80G deduction for CSR expenditure after inquiry is a plausible view, immunizing it from Section 263 revision.
Mumbai ITAT sets aside CIT(A) remand for LTIMindtree; holds AO’s S144 mention was clerical, assessment was S143(3). Directs CIT(A) to decide TP issue on merits.
ITAT allows employee TDS credit of Rs. 13.14 Lakh despite employer Dunzo’s deposit failure. Salary slips are sufficient proof; denial for employer’s default is rejected.
ITAT Delhi ruled that a diary alleged to show undisclosed income cannot sustain a Rs. 27 crore addition, as it was not seized, lacked corroboration, and mere voluntary surrender by the assessee is insufficient for assessment.
Bangalore ITAT grants S80P(2)(a)(i) deduction on interest from co-op society’s statutory investments, citing SC rulings that S80P must be interpreted liberally.
Agra ITAT confirms deletion of Rs. 6.77 Cr addition u/s 68, ruling the scrap trader’s bank credits were fully explained by GST, loans, VAT refund, and internal transfers, backed by evidence.
ITAT Mumbai rules Avana Global’s freight and inland haulage income is exempt under Article 8 of the India-UAE DTAA, rejecting the S44B tax stand and following High Court precedent.
