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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...
The ITAT Pune partly quashed a PCIT’s revision order against Sharada Erectors Pvt. Ltd. It ruled that the AO’s plausible view on most issues, supported by enquiry, cannot be set aside.
The Tribunal ruled that the Assessing Officer failed to conduct a proper inquiry into whether a large plot of land with a small house constituted a residential house for the purpose of the exemption. The case has been remanded for fresh adjudication.
Filing your income tax return yourself might seem convenient, but DIY tax filing in 2025 carries hidden risks that can cost time, money, and peace of mind. From errors in reporting income and missing deductions to cybersecurity threats and unawareness of the latest amendments under the Income Tax Act of 1961, self-filing can quickly become […]
Tribunal ruled that unexplained cash deposits of ₹13.46 lakh by a mobile phone trader require fresh examination. ITAT emphasized natural justice and allowed the assessee to submit audited accounts and sales evidence.
ITAT Mumbai ruled that referral payments made by an individual insurance agent to unlicensed persons do not fall under TDS provisions of Section 194D. Arbitrary disallowance of such commissions was deleted.
The Gujarat High Court is hearing a petition from the Chartered Accountants Association regarding persistent glitches on the new Income Tax Portal. The petition alleges that the portal’s technical failures, delayed release of forms, and numerous validations have caused significant hardship to taxpayers and professionals, leading to a truncated compliance window and potential penalties.
ITAT Jaipur ruled that merely possessing registered property deeds cannot be treated as incriminating material under Sections 153A/153C of Income Tax Act.
Income surrendered during survey and accounted as business income should not attract section 115BBE rates, clarifying application of sections 69, 69A, and 69B.
The ITAT Nagpur has set aside a revision order by the PCIT against Nirmalkumar Agrawal (HUF). The tribunal ruled that the PCIT could not invoke Section 263 to revise an assessment where the AO had already conducted a thorough enquiry and formed a plausible view, even if a different view was possible.
Explore the ITAT Cochin’s decision in the Chundayil Kalam Girijadevi vs. ITO case, which sets a precedent that a tax penalty cannot be levied for an honest mistake in claiming a higher gratuity exemption.
