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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 Lucknow held that deduction under section 80IB and section 80HHC of the Income Tax Act is simultaneously allowable from the net profit. Accordingly, addition is directed to be deleted and appeal is allowed.
Learn why a consolidated satisfaction note for multiple assessment years is legally invalid under Section 153C of the Income Tax Act, based on recent court rulings.
ITAT Cochin has quashed a tax demand, ruling that cooperative banks can claim a deduction under Section 80P for interest earned from District Co-operative Banks and Treasury, citing a Kerala High Court precedent.
ITAT Chandigarh’s ruling in the CSJ Infrastructure tax case addresses the application of Section 43CA and the tax treatment of interest on land conversion fees.
The Calcutta High Court upholds the ITAT’s decision, ruling that the reopening of a tax assessment was invalid due to a lack of independent reasoning by the tax officer.
SEO Description: The ITAT Bangalore has remanded a case back to the tax office to verify whether employee PF/ESI contributions were paid on time, noting a discrepancy between the audit report and the taxpayer’s claim.
ITAT Mumbai allowed an appeal by a private discretionary trust, directing the re-computation of surcharge at 15% instead of 37%. The decision follows the Special Bench ruling in Aradhya Jain Trust vs. ITO, clarifying surcharge slab applicability for trusts taxed at maximum marginal rate.
The NCLAT has rejected an appeal by Technio Business Solutions, citing a lack of credible reasons for a 172-day delay in refiling. The court found the explanations to be baseless.
The ITAT Ahmedabad has remanded the case of Takshashila Education And Charitable Trust back to the CIT(E) for a fresh hearing, setting aside an ex-parte order.
The Delhi ITAT dismissed an appeal by the DCIT, ruling that a company’s income from a property sale, already declared in its books, cannot be taxed a second time.
