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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 restores a tax exemption case for the Secretary UP Sainik Purasvas Nidhi to the AO to verify if it met the Form 9A requirement, and rule accordingly.
The ITAT has ruled in favor of Shri Bhola Food Products, deleting a Rs. 2,50,000 interest disallowance that was arbitrarily estimated without legal justification.
ITAT Ahmedabad provides tax relief to Nirma Ltd., holding sales tax subsidy as a capital receipt, allowing 80IA deduction and depreciation on goodwill.
ITAT Ahmedabad confirms that a belated return does not prevent the carry-forward of unabsorbed depreciation under Section 32(2), a rule distinct from carry-forward of business losses.
The ITAT ruled that the PCIT’s revision order was invalid as the AO had already examined the assessee’s agricultural income claim, thus not acting erroneously.
The ITAT Ahmedabad has ruled that the PCIT cannot initiate a revision to an assessment order based on issues that fall outside the scope of a limited scrutiny.
ITAT Ahmedabad ruled that advance tax is only payable on undisputed income, not on disputed additions. A lack of advance tax payment cannot be a precondition for an appeal.
ITAT Cochin sent a case back to the tax officer for review. The Tribunal ruled that cash payments made on Sundays and public holidays may be exempt from disallowance under Section 40A(3), per Rule 6DD.
ITAT Ahmedabad rules that for AY 2017-18, a cooperative society can claim Section 80P deduction even with a belated return, as the law at the time did not bar such claims.
ITAT Ahmedabad allows a co-operative society to deduct interest earned from co-operative bank deposits under Section 80P, clarifying its distinction from other bank types.
