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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 Pune upholds the deletion of a Rs.1.06 crore addition to a co-operative society’s income, ruling that the cash deposits were explained by daily member savings.
Chhattisgarh High Court held that addition towards unaccounted sales based on estimated production yield is baseless and without any evidence/ material and accordingly is not sustainable in law. Accordingly, appeal of revenue dismissed.
ITAT Indore remands a case to the CIT(E), ruling that a charitable-cum-religious trust can receive 80G approval if its religious expenses do not exceed 5% of its total income.
ITAT Jaipur rules that interest earned on a money-lending asset declared under IDS 2016 is not unexplained income and deletes the addition and tax under Section 115BBE.
The ITAT Pune has quashed a reassessment notice for AY 2015-16, citing the Supreme Court’s concession that notices issued after April 1, 2021 are time-barred and invalid.
ITAT Jabalpur sets aside a CIT(A) order for dismissing appeals summarily without providing a proper opportunity for the taxpayer to be heard.
ITAT Mumbai ruled on Section 43CA, deleting an addition on a flat sale. The ruling granted the benefit of the agreement date and prior payments to the seller.
ITAT Kolkata rules the Finance Act 2022 amendment to Section 14A is prospective. Disallowance for expenses related to exempt income is limited to investments that yield dividends for Assessment Year 2017-18.
Discover why Rajkot’s ITAT granted 80G approval to Kabir Kirti Mandir Kashi, ruling that a trust’s religious objects don’t override its charitable purpose.
ITAT Pune dismisses an assessee’s appeals, confirming that interest on borrowed capital used to compensate tenants for relinquishing their rights is not deductible under Section 24(b) of the Income Tax Act.
