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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...
India’s new Income Tax Act, 2025, will replace the 1961 law from April 1, 2026. Learn about key changes, including the “tax year” concept and simplified provisions.
Delhi ITAT rules on delayed PF/ESI deposits, distinguishing between periods before and after the Checkmate Services case. Learn when disallowances are valid under Section 143(1).
A technical glitch in the ITR utility for AY 2025-26 prevents negative values in capital gains reporting. Learn about the issue and a temporary workaround.
Delhi ITAT upholds the deletion of a tax addition on cash sales during demonetization, ruling that the tax authority’s addition was based on assumptions, not evidence.
The ITAT Delhi has deleted additions made by the tax department, ruling that an ad-hoc expense disallowance and additions for loans and cash deposits were invalid.
ITAT Mumbai held that interest on delayed VAT/GST and penalties for export obligation defaults are deductible u/s 37(1). However, loss on sale of assets was treated as short-term capital loss and could not be set off against business income.
The ITAT Delhi has quashed a reassessment notice, ruling it was based on borrowed satisfaction and mechanical approval from superior tax authorities.
The ITAT Delhi has quashed a reassessment notice, ruling it was invalid for being issued for verification and based on a borrowed belief without tangible material.
The ITAT Raipur has quashed a reassessment notice for AY 2016-17, ruling it was invalid due to a jurisdictional error where the approval was granted by an incorrect authority.
ITAT quashes reassessment against Mauritius-based FPI, ruling that sanction from correct authority under section 151 was mandatory.
