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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 Kolkata deletes S. 270A penalty on St. Peters School for disallowed depreciation. Tribunal ruled the incorrect claim was a bona fide clerical error, not misreporting, citing the Reliance Petro and Price Water House SC judgments.
ITAT Kolkata deletes Rs.19.37 lakh disallowance of Service Tax against Space Out of Home. Tribunal found the AY 2018-19 portion was paid in time and the balance was pending appeal before the CGST authority.
ITAT Kolkata reduces Rs.31.78 lakh addition for excess stock found during a survey. Tribunal rules that since the stock was business income, only the profit element, fixed at 12%, is taxable.
ITAT Kolkata allows Durgapur Education Society’s appeal, remanding the case to the CIT(A) for fresh consideration. The Tribunal condoned a 369-day delay and ordered examination of the society’s S. 12A exemption claim and its retrospective application for AY 2015-16.
ITAT Kolkata partially reverses CPC’s Rs.6.56 lakh disallowance for Payal Enterprise. S. 38 of EPF Scheme means due date is 15 days from salary payment month, not due month, making certain payments timely.
ITAT Kolkata quashes assessment for Lily Sarkar (AY 2011-12), ruling that the S. 148 notice issued to the deceased assessee was invalid. Consequential proceedings were void as per S. 159 and judicial precedents.
ITAT Kolkata quashes S. 271(1)(c) penalty against Baidya Nath Dey (AY 2011-12). Penalty notice invalid as the AO failed to strike off the irrelevant limb, a defect confirmed by the Calcutta High Court.
ITAT Kolkata remands PF/ESI disallowance for AY 2018-19, 2019-20 to AO for verification of statutory due dates. Follows Supreme Court’s Checkmate ruling: employee contributions must be paid by special Act due dates.
ITAT Kolkata allows Begpur Samabay Krishi Unnayan Samity Ltd. 80P(2)(d) deduction on Rs.28 lakh interest. Tribunal distinguished the Totgars SC ruling, holding that interest from deposits with a cooperative bank is eligible for deduction.
ITAT Kolkata remands 80P deduction appeal of Jotesriram Samabay Society back to CIT(A). The Tribunal orders fresh consideration of Rs.89 lakh interest income, stressing need for bifurcation and compliance with the Totgars SC ruling.
