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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 Cochin rules that Section 12A registration for a religious trust cannot be denied simply because the trust deed is not registered with the Registrar of Documents.
Subsequently asserted that the twin conditions under Section 263 were absent as the AO had conducted due inquiry. Revenue contended that Section 37(1) disallowed CSR expenses which were not wholly and exclusively for the purpose of business.
Since no new material or facts had come to light and the AO had already applied his mind during the original assessment, the reassessment proceedings were invalid in law accordingly, Section 148 notice was quashed.
Delhi and Rajasthan HC precedents cited as ITAT Jaipur rules that reassessment for ‘other persons’ must be year-specific and limited to incriminating material found during search
The Madras High Court remits a Rs.214 crore tax case, giving a petitioner one last opportunity to submit documents, citing financial hardship.
ITAT Mumbai dismissed revenue’s appeal against Thirumalai Chemicals, allowing gratuity, bad debts, and other expenses while also allowing the assessee’s cross-objection.
ITAT Delhi ruled that an AO cannot reject a registered valuer’s report without DVO reference, upholding the statutory procedure for property valuation.
The ITAT Ahmedabad quashed a reassessment for AY 2012–13, ruling the property sale transaction occurred in an earlier year, invalidating the additions made.
The ITAT Ahmedabad deleted an addition of Rs. 18.51 lakh, ruling that pre-marriage gifts and substantiated contract income were not unexplained cash deposits.
The ITAT Ahmedabad quashed reassessments for AYs 2017-18 & 2018-19, ruling notices issued beyond 3 years were invalid as the escaped income was below Rs. 50 lakhs.
