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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 Ahmedabad dismissed an appeal from Goldmine Commodities Pvt. Ltd. for being defective. The court found the grounds of appeal to be verbose, argumentative, and containing irrelevant allegations, failing to comply with legal requirements.
ITAT Kolkata ruled that a reassessment is invalid if no addition is made on the original reason for reopening the case, as the foundation for the reassessment collapses.
The ITAT Kolkata restored an appeal, granting an assessee a fresh opportunity to submit evidence after the previous appeal was dismissed due to non-compliance.
Delhi High Court held that reassessment proceeding u/s. 148 of the Income Tax Act cannot be sustained as based on survey operations without there being any tangible material. Accordingly, petition allowed.
ITAT Ahmedabad deleted an income addition and penalty on a taxpayer, accepting her explanation that cash deposits came from her husband and brother.
The ITAT Delhi deleted income additions on alleged bogus loans and donations, ruling that a defective sanction for reopening an assessment beyond four years invalidates the entire proceeding.
ITAT Delhi deleted a ₹10.75 crore addition on old unsecured loans, ruling that tax authorities cannot tax existing liabilities as fresh income without evidence of bogus transactions.
The ITAT Kolkata deleted an addition under Section 69 and a tax addition under Section 56(2), ruling that a taxpayer’s salary account was a valid source for property investment.
ITAT Ahmedabad held that bad debts written off as irrecoverable in books is enough and it is not necessary to demonstrate that a debt has become bad. Accordingly, addition on account of bad debts liable to be deleted.
The ITAT Ahmedabad accepted a developer’s project completion accounting method, deleting a Rs. 2.24 crore addition made by the AO for alleged profit suppression.
