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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...
ITAT Chandigarh rules for Aarti Singal, deleting additions u/s 68 & 69C. LTCG from listed shares held genuine & not bogus accommodation entries, as Revenue failed to provide specific proof.
Tribunal deletes all additions against Lakhvir Kaur, finding no incriminating material. The ruling concerned foreign travel, vehicle expenses, and jewellery for A.Y. 2020-21, along with a poultry farm on-money addition for A.Y. 2021-22.
The ITAT Chandigarh ruled in favor of an assessee, deleting an addition of ₹8.70 lakh. The tribunal found loans from close relatives and sons were genuine, with donors having sufficient income.
A charitable trust cannot be denied Section 80G approval solely for having religious objects. The ITAT ruled that actual expenditure is the key factor.
The ITAT Chandigarh has quashed an assessment based on a WhatsApp chat, citing lack of mandatory approval and insufficient evidence. The tribunal upheld the deletion of a Rs. 1.12 crore addition for unexplained investment, emphasizing that digital communication alone requires corroboration.
Delhi ITAT cancels PCIT’s revision u/s 263 against faceless assessment, ruling it cannot be used for fishing enquiries. Order restores NFAC’s original assessment.
ITAT Delhi upheld reassessment u/s 147 for cash deposits during demonetisation. Demon deposits issue remanded to AO; GP on non-demon deposits reduced from 8% to 4%.
ITAT Mumbai has remanded a case back to AO, ruling that CIT(A) erred in accepting a 5% profit margin without supporting evidence or comparable cases.
Kolkata ITAT ruled that a late-filed audit report is a procedural lapse, not a reason to deny an educational society’s tax exemption under Section 10(23C).
The ITAT Delhi has partially allowed an appeal by an accommodation entry provider, reducing the assessed commission rate and upholding a penalty for a delayed tax audit report.
