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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 in Raipur has set aside an ex parte order from the CIT(A) against Amriteshwaryai Mining. The tribunal ruled that issuing notices with less than 15 days’ time to respond violated principles of natural justice, restoring the appeal for a fresh adjudication on its merits.
ITAT Lucknow deleted an addition of ₹27.34 lakh under Section 40A(3), ruling that cash payments for land were justified by business expediency and genuine transactions.
The tribunal referenced a Kerala High Court precedent, holding that a belated return is still valid for claiming statutory deductions as long as assessment proceedings are pending.
The ITAT Raipur quashed an addition under Section 68, ruling that the AO overstepped jurisdiction by expanding a limited scrutiny case without approval. The addition was deemed invalid.
The ITAT in Raipur has condoned a 109-day delay in filing an appeal for Das Processors, noting that a technical glitch in Form 35 prevented email receipt. The tribunal also reinforced that the CIT(A) is obligated to decide appeals on their merits and cannot summarily dismiss them for non-prosecution.
The Income Tax Appellate Tribunal (ITAT) in Pune has ruled that a validly approved gratuity fund’s income exemption under Section 10(25)(iv) cannot be denied due to a technical error, such as quoting a wrong section in the income tax return (ITR) or the non-filing of Form 10B.
The ITAT Raipur restored a penalty appeal to the CIT(A) for fresh adjudication after find-ing the dismissal was an ex parte order. The Tribunal ruled that a CIT(A) cannot summar-ily dismiss an appeal for non-prosecution but must adjudicate on merits.
The ITAT Mumbai has dismissed the revenue’s appeal against Mazagon Dock Shipbuilders Ltd., ruling that a reassessment based on a prior audit note constitutes an invalid “change of opinion” and that Section 50C does not apply to the transfer of leasehold rights.
ITAT Mumbai ruled that a penalty cannot be imposed on estimated additions from bogus purchases. Tribunal affirmed that without cogent evidence, estimated profits don’t warrant a penalty.
The ITAT in Mumbai has quashed a revisionary order under Section 263 of the Income Tax Act against law firm AZB & Partners. The tribunal ruled that the PCIT’s order was not justified, as the Assessing Officer had already conducted a proper enquiry and applied his mind to the issue, making it a “change of opinion,” not a “lack of enquiry.”
