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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 Mumbai deleted a Rs.7 lakh addition made to a non-resident Indian, ruling that his explanation for property investment was plausible, with funds sourced from NRE account withdrawals and jewelry sales.
The ITAT Mumbai upheld the deletion of a Rs.49 lakh addition made to Kolar Paper Mills for a CSR donation. The court ruled that the company had already disallowed the expenditure and had not claimed any deductions, thus preventing double taxation.
The Income Tax Appellate Tribunal (ITAT), Raipur Bench, has quashed the assessment against Pawan Kumar Agrawal, ruling that the mandatory prior approval under Section 153D of the Income Tax Act.
The ITAT Cochin has ruled that a charitable trust’s belated return filing for AY 2014-15 is not a valid reason to deny an exemption under Section 11. The court clarified that the condition for timely filing became a legal requirement only from AY 2018-19.
PCIT’s revision order on Gajanand Financial Consultancy’s protective addition was quashed by ITAT Nagpur. The Tribunal ruled the AO made a detailed enquiry, and protective additions can’t be revised when substantive ones exist.
The Cochin ITAT has set aside a Rs.35.05 crore income addition to Keezhuparamba Service Co-operative Bank. The court remanded the matter for fresh verification, noting that the Assessing Officer mistakenly clubbed members’ deposits with share capital.
The Cochin ITAT has set aside an addition under Section 68, ruling that a taxpayer’s claim of transferring funds from a housing loan to a capital account requires further verification. The court remanded the matter back to the Assessing Officer.
ITAT Raipur, in case of Manish Kumar Jain vs. ITO, ruled that Commissioner of Income Tax (Appeals) cannot summarily dismiss an appeal based solely on a delay.
Gujarat High Court held that the proceedings under Section 148 of the Income Tax Act cannot be initiated to review the earlier stand adopted by the Assessing Officer. Accordingly, initiation of reassessment proceedings u/s. 148A(d) on the same ground which is already considered by AO cannot be sustained.
Understand Hindu Undivided Family (HUF) tax rules for asset transfers, including gifts from members and non-relatives, and how clubbing provisions affect income.
