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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...
High Court ordered pending restoration application of assessee before ITAT to be considered expeditiously, while noting a demand raised under Section 156 of Income Tax Act. The court emphasized avoiding unnecessary adjournments.
The ITAT has condoned a one-day delay in the filing of Form 10B by a charitable trust, directing the tax authorities to allow its claim for deductions.
The ITAT Bangalore rules that while a co-operative society’s late IT return warrants disallowing its Section 80P deduction, the tax authorities must still assess and tax the net profit, not the gross income, after allowing for all related expenses.
The ITAT has directed the tax department to refund ₹37.88 lakh to a non-resident for an incorrect TDS credit, dismissing the tax authority’s reasoning as vague.
ITAT reverses a tax addition on cash withdrawals, ruling that they were genuine business turnover and not unexplained income.
The ITAT dismisses a cooperative society’s appeal over disallowed tax deductions after the society confirmed it is pursuing an alternative remedy.
The Supreme Court of India has upheld a property attachment order from 2012, dismissing a challenge by a company that bought the property years later.
ITAT clarified that education and camps on Jain principles cannot be treated as wholly religious. Registration u/s 80G can only be denied if religious expenditure exceeds the statutory 5% threshold.
ITAT Bangalore reverses a CIT(E) order, holding that teaching Vedas is a charitable activity, not a religious one, and an organization promoting it is eligible for Section 80G tax exemption. This decision relies on precedents that define Hinduism as a way of life.
Learn about the process of rectifying income tax return errors under Section 154. This includes what qualifies as a “mistake apparent from the record” and the relevant timelines.
