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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 Delhi dismissed the revenue’s appeal against D&Y Technologies, confirming that the Assessing Officer cannot reject a company’s books of account based solely on a decline in profit rates or disallow director’s salary without evidence that the payment was not for business purposes.
The ITAT Mumbai ruled in favor of Bennett Coleman & Co. Ltd., holding that a further Section 14A disallowance is unwarranted when the assessee’s own disallowance exceeds the exempt income.
The ITAT Mumbai ruled in favor of Nilesh Shirish Mehta, setting aside a reassessment order for AY 2015-16. The tribunal found the Section 148 notice, issued after April 1, 2021, to be time-barred and invalid based on concessions made by the Department before the Supreme Court in the case of Union of India v. Rajeev Bansal.
The Delhi High Court set aside the entire reassessment process against Siam Stock Holdings Ltd. after finding that all official notices were sent to a former employee’s email address, violating principles of natural justice and rendering the proceedings invalid.
Despite India’s tech ambitions, the Income Tax Department’s portal struggles with stability, hindering tax compliance and frustrating citizens.
Understand the tax rules for cash gifts from grandparents in India. Learn why proper documentation is crucial to avoid scrutiny from the Income Tax Department.
The Income Tax Appellate Tribunal (ITAT) Ahmedabad dismissed the Revenue’s appeal, confirming the deletion of additions made under Section 68 of the Income Tax Act.
Tribunal held that once a scrutiny assessment under Section 143(3) allows a claim, any earlier disallowance by CPC under Section 143(1) merges into it and loses force.
The ITAT Ahmedabad has deleted a ₹55 lakh addition made under the “accommodation entry” theory, ruling that the repayment of loans through banking channels negated any benefit to the assessee, thereby making the addition and the reassessment legally unsustainable.
The Income Tax Appellate Tribunal (ITAT) Nagpur condoned a 729-day delay in Rupa Abhay Vyas’s appeal, citing the death of her legal counsel during the COVID-19 pandemic and her subsequent medical diagnosis.
