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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 Kolkata quashed a penalty on a taxpayer, ruling that a one-time settlement from an employer was a capital receipt. The court held that no concealment of income occurred as the amount was disclosed in the tax return.
The ITAT Kolkata dismisses the Revenue’s appeal, ruling that a ₹1.59 crore addition for alleged bogus sales was unfounded, as the company provided substantial evidence including e-way bills and bank statements.
The ITAT dismisses a tax addition on Hitesh Trading Company, finding the Assessing Officer’s estimation of a higher gross profit was arbitrary and lacked legal justification.
ITAT deleted an addition of ₹3.80 lakh made towards leave encashment under Section 43B, ruling that the Commissioner of Principal Commissioner (CPC) had no jurisdiction to make the addition.
ITAT Ahmedabad dismissed the Revenue’s appeal, ruling that a taxpayer’s sale of agricultural land is not subject to capital gains tax, regardless of the buyer’s later use.
The Income Tax Appellate Tribunal (ITAT) Pune has ruled in favor of an assessee, Sonal Ashish Shah, reversing an addition made by the Income Tax Officer (ITO) on the sale of shares in Blazon Marbles Limited, an alleged penny stock company.
The Income Tax Appellate Tribunal (ITAT) in Cochin has ruled that voluntarily disclosing additional income after a search notice does not automatically justify a penalty under Section 271(1)(c) of the Income-tax Act, 1961.
The ITAT Delhi has held that purchasing a residential plot and subsequently constructing a house on it fulfills the conditions for capital gains exemption under Section 54F of the Income Tax Act.
The ITAT Delhi has set aside a penalty imposed on a taxpayer, ruling that penalties cannot be levied on additions to income that are based on estimation. This decision follows a precedent in the same case.
MP High Court rules seizure of documented jewellery in transit during elections illegal. Quashes IT action against logistics employee, orders release of consignments.
