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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 Chennai remits back applications for 12AB registration and 80G approval of Maditssia Trade Centre. Tribunal holds that proposed convention centre cannot be treated as per se commercial; directs CIT(E) to reconsider after giving assessee opportunity.
A summary of the ITAT Chennai order, which clarified that payments integral to educational activities for domestic students are applicable in India, even if remitted abroad, contrasting with the NASSCOM ruling on foreign events.
ITAT Chennai holds that ₹2 crore loan cannot be added as unexplained investment in lender’s case when already offered before Settlement Commission by borrower.
Late Mahabir Prasad (through L/H Mrs. Parul Kansaria) Vs DCIT (ITAT Bangalore) ITAT Bangalore Restricts Additions in Search Assessment – Statement Alone Not Incriminating- No Addition in Concluded Years Without Incriminating Material- Unaccounted Sales – Only GP Taxable, Not Entire Turnover Bangalore ITAT dealt with additions arising out of search proceedings in the A-One Steel […]
Chennai Bench clarified that under Section 54, only the portion of capital gains unutilised after 3 years is deemed taxable, deleting addition of full ₹5 crore.
Chennai ITAT set aside the denial of Sections 11 & 12 tax exemption to a Trust, directing the AO to re-examine the claim after the CCIT decides on the pending Form 10B late filing condonation petition.
Chennai ITAT restored an appeal after the CIT(A) erroneously dismissed it by copying a previous year’s order, citing a failure of natural justice and lack of due adjudication.
Bangalore ITAT cancelled a penalty u/s 271D on an 82-year-old for receiving Rs.10 lakh cash from a property sale, finding “reasonable cause” u/s 273B due to his bona fide belief and the transaction’s genuineness.
A summary of the ITAT Chennai’s ruling, which reaffirmed the precedents in Loka Shikshana Trust and New Noble Educational Society, emphasizing that charitable activities must involve formal, scholastic learning and genuine application of income to charitable objects.
Bangalore ITAT restored a case involving Rs.1.49 crore in unexplained cash deposits for fresh assessment, directing the AO to re-examine the source and the CIT(A)’s application of the peak credit method.
