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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 Mumbai quashes addition for unexplained investments on land purchases in Hirji Parbat Gada vs ITO, remanding the issue to the AO to consider the DVO report.
Income-tax e-Filing portal now requires extensive, non-notified information for Form 35 appeals, raising legal questions about platform’s authority to modify a prescribed form.
ITAT Raipur held that passing of CIT(A) order was ex-parte without hearing the assessee and there is sufficient cause shown by assessee in not attending hearings as per opportunities granted by CIT(A). Accordingly, matter remanded back to CIT(A).
ITAT Jaipur quashes ₹1.5 crore addition against Amar Partap Steels, ruling that uncorroborated statements cannot prove bogus loans.
Income-Tax (No. 2) Bill, 2025, proposes to amend and consolidate income tax law, covering a range of topics from basic definitions to complex tax avoidance rules.
The ITAT Delhi has quashed a reassessment order against Sumit Suneja, finding that the AO quoted a repealed section of law and received a mechanical, undated approval.
ITAT Kolkata nullified a reassessment order, ruling that ITO lacked pecuniary jurisdiction to issue a Section 148 notice for a non-corporate assessee with an income over specified limit.
The Central Board of Direct Taxes has granted income tax exemption to the Parambikulam Tiger Conservation Foundation on specific income types for multiple assessment years.
The ITAT Cochin confirmed penalties against a primary agricultural credit society for violating Sections 269SS and 269ST, ruling that a lack of an RBI license prevents it from being classified as a co-operative bank.
The ITAT Cochin confirmed income additions against K.K. Radhakrishnan, rejecting arguments of mechanical approval and lack of incriminating material found during a search.
