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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...
Pune ITAT voids Rs 1 crore penalty against Karia Builders. Tribunal rules penalty proceedings are invalid if the underlying assessment is legally flawed and highlights the need for proper sanction for reassessment notices.
The ITAT Pune ruled on whether land acquisition compensation received by a partnership firm is taxable, clarifying the scope of exemptions under the RFCTLAAR Act and related circulars.
The Income Tax Appellate Tribunal (ITAT) in Pune dismissed the Revenue’s appeal against a penalty deletion, ruling it was not maintainable due to a low tax effect. The Tribunal held that the new CBDT Circulars, which do not include an exception for audit objections, are applicable to pending appeals.
The ITAT Delhi quashed a rectification order against Avia Xpert, ruling the disallowance of employee PF/ESI contributions was illegal due to a lack of prior notice and the issue being a debatable matter at the time.
ITAT Rajkot held that imposition of penalty u/s. 271B of the Income Tax Act for not getting books of accounts audited cannot be sustained since assessee has filed return u/s. 44AD and there is no need to maintain books of accounts u/s. 44AD.
The ITAT Pune ruled on whether an assessment order was erroneous and prejudicial to the revenue concerning cash deposits during the demonetization period, providing key clarifications on Section 263 of the Income Tax Act.
ITAT Mumbai held that since there was no effective service of orders upon the assessee as the order sent by the department went to spam folder. Thus, delay in filing of an appeal condoned and matter restored back to CIT(E) for fresh consideration.
If any assessment proceedings are to be initiated by AO by relying on any information found during search action conducted on third party, then the Dept must resort to special provisions of section 153C and notice issued u/s 148 in such scenario is bad in law.
ITAT Mumbai held that denial of TDS credit merely because of non-reflection in Form 26AS is not justified since there could be varied technological or other reasons where the relevant data pertaining to the assessee doesn’t get reflected in Form 26AS.
A new CBDT notification recognizes the Central Board of Secondary Education (CBSE) under section 10(46) of the Income-tax Act, exempting specific incomes from tax until 2030-31.
