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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 ruled that a PCIT cannot use Section 263 to revise an assessment order that is “non-est” in law due to a procedural defect.
The ITAT Mumbai has ruled that interest on borrowed funds used for capital reduction is a valid business expense under Section 36(1)(iii) of the Income Tax Act. The tribunal also clarified that the buyback tax under Section 115QA cannot be applied to capital reduction transactions completed before the June 1, 2016 amendment.
The ITAT Raipur quashed the reopening of an assessment under Section 147, ruling that search-based cases on third-party material must be initiated under Section 153C.
ITAT Kolkata set aside a tax addition under Section 56(2)(x), ruling that the AO must offer a DVO valuation before relying solely on the property’s stamp duty value.
The ITAT Visakhapatnam dismissed an appeal due to persistent defects. The ruling high-lights that failing to submit mandatory documents and fees can lead to an outright dismissal.
Mumbai ITAT has set aside an ex parte tax assessment, ruling that a genuine dispute between partners was a valid reason for non-compliance.
The ITAT has granted a final opportunity to a cooperative society in a tax dispute, despite its repeated defaults, to ensure a fair hearing on the merits of the case.
The ITAT ruled that a tax addition under Section 56(2)(x) cannot be made solely on stamp duty value. The AO must first obtain a DVO valuation.
The ITAT Raipur condoned a 1,742-day delay for an assessee, restoring their appeal. The ruling emphasizes a justice-oriented approach and bars CIT(A) from dismissing cases solely for delay.
ITAT Kolkata ruled a tax notice invalid for not specifying scrutiny type, quashing the entire assessment. The ruling reinforces that tax authorities must follow CBDT instructions.
