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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 dismissed income tax appeals against Hardcastle Restaurants, holding that additions cannot be made to completed assessments without incriminating material found during a search operation.
An overview of the compliance challenges Indian MNEs and tax authorities face due to OECD Pillars 1 and 2, covering profit allocation, minimum tax, and incentive impacts.
ITAT Delhi held that non-resident company assessee was not having any control over employees seconded by it to Indian entity and hence there cannot be any fixed place Permanent Establishment [PE] of the assessee in India. Accordingly, appeal allowed.
The AO completed the assessment u/s.147 r.w.s. 144B of the Act vide order dated 02.03.2023. In the said reassessment order, the AO treated the income received from Kanchipuram Central Co-operative Bank Ltd.
ITAT Pune held that excess sugarcane price paid to the members and sale of sugarcane at concessional rate needs fresh consideration and accordingly, the matter is restored back to the file of AO.
ITAT Pune held that ex-parte order sustaining addition under section 69A of the Income Tax Act on account of non-compliance on the part of the assessee not justified since relevant notice and order were served to old e-mail of the assessee. Accordingly, matter restored back to the file of AO.
ITAT Ahmedabad held that delay in furnishing Form No. 10B is procedural lapse hence it cannot be sole reason for denial of exemption under section 11 of the Income Tax Act. Accordingly, delay in filing 10B condoned and exemption granted.
Additions made on account of cash deposits during the demonetization period and disallowance of loss on the derivative transactions, were remanded for fresh adjudication after the verification of sales records and transaction nature.
The interest was earned from fixed deposits maintained with banks for the purpose of the business and related to the business of assessee. Interest was also earned on refund of taxes due to wrongful deduction of TDS by the customers of assessee.
Tribunal had imposed a cost of ₹2,000 on M/s. Udai Lal Mahabir Prasad for failing to explain the delay in filing its appeal and remanded the disallowance issue to the Assessing Officer (AO) for fresh adjudication.
