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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...
CBDT amends Income-tax Rules 1962. This change, effective August 21, 2025, revises Rule 21AIA, omitting sub-rule (4) and redefining specified fund for consistency.
The official copy of the Income Tax Act, 2025, is now available. Download the full text to review new tax rates, compliance rules, and key amendments.
A Chandigarh hospital’s Rs.3.91 crore tax addition is remanded for reassessment after a faulty software report skewed patient data, causing a major tax dispute.
The Ahmedabad ITAT has ruled that Section 87A rebate is applicable on STCG under Section 111A for taxpayers with income below ₹7,00,000. Learn how this decision impacts you.
Kerala High Court held that dismissal of stay petition on the ground of failure to comply with a non-existing condition precedent is perverse and requires interference. Accordingly, writ admitted and order set aside.
ITAT Mumbai held that entire bogus purchases can never be treated as income only profit element embedded in the accommodation entry is to be brought to tax. Accordingly, order of CIT(A) restricting disallowance @12.5% justified.
Summary of the Taxation Laws (Amendment) Act, 2025, covering new tax exemptions for pension funds and foreign investors, and changes to tax assessment rules.
Sale proceeds of vintage car was taxable unless assessee proved that the car was used as a personal asset. Tribunal had rightly reversed the order passed by CIT (A), which had applied irrelevant considerations of wealth tax returns and non-claiming of depreciation in respect of the car by assessee.
Bombay High Court held that Section 194C and Section 194LA of the Income Tax Act would not apply when TDR Certificates are issued in lieu of compensation. Accordingly, order passed u/s. 201 and 201(1A) stayed.
ITAT Chennai held that passing of ex-parte order by CIT(A) due to non-compliance of assessee without going into merits is not justifiable. CIT(A) is bound to decide the appeal on merits even in the absence of assessee. Accordingly, matter restored back.
