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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 Kolkata cancels a Section 144 assessment, ruling that the foundational Section 143(2) notice was invalid for failing to comply with mandatory CBDT instructions on scrutiny formats and jurisdictional limits.
The ITAT Mumbai upheld deletions of additions made under Section 68, ruling that share trading losses and profits, declared as business income and supported by documentation, could not be treated as unexplained income based solely on penny stock allegations.
ITAT Delhi rules against double taxation, deleting a Rs.50.18 lakh addition after finding that cash deposits were sourced from sales already accepted and taxed.
ITAT Bangalore rules against using high-turnover IT giants as comparables for smaller captive service providers in transfer pricing, citing scale and brand value differences.
ITAT Mumbai ruling clarifies PCIT’s Section 263 powers, quashing new issues and CSR/80G claims, but remitting TDS matters for further AO verification.
ITAT Chandigarh deletes an addition, ruling that an unsigned and unregistered agreement to sell is not valid evidence for making an addition under Section 69 or 69B.
Learn the key differences between tax avoidance and tax evasion in India, their legal consequences, and the laws enacted to curb these practices.
Income Tax Act 2025 replaces 1961 law, simplifying tax concepts, introducing a single Tax Year, and using modern, user-friendly formats for better clarity and compliance.
The Rajasthan High Court, citing prior judgments, invalidated a reassessment notice under Section 148 of the Income Tax Act because it was issued by a Jurisdictional Assessing Officer instead of the designated Faceless Assessing Officer.
Read how the Rajasthan High Court handled a technical objection by the tax department. The court ruled that an application for the release of seized items should not be rejected due to a missing word in the address, emphasizing the need for diligent processing by officials.
