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Income Tax : The article explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights taxpayer duties, righ...
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 : 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 Tribunal held that failure to issue a jurisdictional transfer order under Section 127 invalidates the assessment. It ruled tha...
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 : 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 Delhi quashes an assessment order for the Shilpi Sardana case, ruling that the Section 143(2) notice was invalid as it did not conform to the CBDT’s mandated format.
The ITAT Delhi has quashed the reassessment against Sonia Kapoor, ruling it invalid. The court found that because no addition was made on the initial reason for reopening, the entire process was void.
The ITAT Delhi has upheld the deletion of a ₹3.51 crore addition, ruling that the assessee proved the identity, creditworthiness, and genuineness of unsecured loans.
ITAT Delhi upholds the deletion of a ₹1.39 crore tax addition against Vikas Associates, ruling that the assessment was invalid under Section 153C based on the Delhi High Court’s Ojjus Medicare judgment.
Understand the tax implications of converting Tata Motors DVR to ordinary shares. Learn how to calculate deemed dividends and capital gains with a worked example.
The ITAT Delhi allows a taxpayer to claim a Section 80C deduction even though it was initially omitted from their tax return, citing a lack of a bar in the law for that year.
Learn about new business codes (21009, 21010, 21011) for share trading. Understand which ITR form to use and the applicability of Section 44AD for various trading activities.
The ITAT Ahmedabad dismissed the tax department’s appeal, ruling that cash withdrawals of ₹8.89 crore were not unexplained. The tribunal upheld the assessee’s claim that the cash was used for business payments, as the tax officer had accepted the corresponding sales.
A summary of the new Section 194T TDS rule, effective April 1, 2025, for partnership firms and LLPs on payments to partners.
ITAT Patna upholds the deletion of a ₹4.98 crore addition, ruling that purchases are not bogus just because suppliers failed to file returns or respond to tax notices.
