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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 Mumbai has ruled that Delta Air Lines’ income from code-sharing agreements with third-party carriers is exempt from tax in India under Article 8 of the India-USA DTAA, as it qualifies as “profits from the operation of aircrafts in international traffic.”
The Delhi High Court has ruled that Jurisdictional Assessing Officers can still issue reassessment notices despite the faceless scheme. Other High Courts differ.
The ITAT Mumbai has deleted a Rs. 184.75 crore transfer pricing adjustment related to advertising and marketing expenses (AMP). The tribunal ruled that these expenses were not an international transaction, aligning with consistent past judgments and emphasizing that the Revenue failed to prove a formal arrangement between the assessee and its Associated Enterprise (AE).
In a pragmatic ruling, the Karnataka High Court has allowed B.V. Sreenivasa Reddy to use a portion of the revenue from his attached windmills to cover maintenance costs, ensuring the assets remain operational to maximize tax recovery for the Income Tax Department.
Delhi High Court rules that a tax refund cannot be blocked by system limitations, directing the tax department to issue a manual refund in a demerger case.
Bombay High Court confirms tax penalties cannot be imposed solely on additions made through ad hoc estimations, dismissing a revenue appeal against Colo Colour Pvt. Ltd.
The ITAT Visakhapatnam has partly allowed the appeal of Vallabhai Patel Kottapalli, an agriculturist, by restricting the tax rate on an unexplained cash deposit to 30% in-stead of 60%.
Karnataka High Court has ruled that reassessment notices issued after April 1, 2021 for AY 2015-16 are invalid, following a Supreme Court precedent.
ITAT Mumbai has deleted a Rs. 2.5 crore tax addition, ruling that Section 68 of Income Tax Act cannot be applied to loan balances carried forward from a previous year. ITAT found reopening and subsequent tax demand to be unjustified, as transaction’s genuineness was already established in a past assessment.
The ITAT Mumbai has ruled in favor of Aditya Birla Education Trust, holding that payments to foreign institutions for educational activities in India, a community preference clause, and a broad range of related educational activities do not violate Sections 11 or 13 of the Income-tax Act.
