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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, in the case of DCIT vs. JM Financial Services, ruled that a loss from speculative share trading cannot be set off against a profit from non-speculative Futures and Options (F&O) transactions.
The ITAT in Mumbai has restricted an income tax disallowance on alleged bogus purchases for Quality Heightcon, capping it at 12.5% of the total amount and citing judicial precedents.
In a recent order, the Income Tax Appellate Tribunal (ITAT) Mumbai has provided a significant verdict in the case of Rajesh Shivji Shah vs. Income Tax Officer (ITO) for the assessment year 2011-12.
The ITAT in Mumbai has deleted an income tax addition against Rahul M. Dalmia, ruling that the purchases were genuine. The court found that the assessee had provided sufficient evidence and distinguished the case from other precedents.
The Bombay High Court dismissed a tax appeal, ruling that interest earned by a real estate developer on income tax refunds and fixed deposits had a direct nexus with their main business of developing IT Parks and SEZs.
Bombay High Court disposed of a 1999 writ on ITAT premises, holding that additional Benches functioning since 2001 under interim orders need no further directions.
Bombay High Court upheld CIT(A) and ITAT orders deleting penalty of ₹2.75 lakh, holding that ad-hoc estimation of profit from alleged hawala purchases does not amount to concealment of income.
The September 30, 2025 tax audit deadline creates pressure on businesses and CAs. Late ITR forms and the festive season lead to calls for an extension.
Karnataka High Court dismisses SBI’s appeal, upholding TDS demand for foreign travel LTC claims. The court cites a Supreme Court precedent that denies tax exemption for journeys with a foreign leg.
A summary of India’s Double Taxation Avoidance Agreements (DTAAs), covering the legal framework, methods of relief, and rules for international tax compliance.
