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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...
This summary explores how Artificial Intelligence can address current inefficiencies in India’s legal system, detailing its potential to streamline processes, simplify legal language, and improve access to justice.
ITAT Ahmedabad held that mere titular ownership of bank account is not conclusive. Thus, addition u/s. 69A of the Income tax Act towards unexplained cash deposit cannot be sustained without proper inquiry into identity of actual beneficiary of cash deposits.
ITAT Mumbai held that disallowance of claim of loss alleging participation in price rigging cannot be sustained since nothing is brought on record to demonstrate involvement of assessee in price rigging. Accordingly, claim of loss allowed.
The ITAT Delhi has upheld the deletion of a ₹11.73 Cr addition for unexplained cash credit, ruling that the Assessing Officer’s reliance on unverified STR information was insufficient to make the addition.
The ITAT Cuttack has remanded a case involving a ₹9 lakh cash deposit to the CIT(A), granting the assessee one final opportunity to produce evidence after a delay of 302 days due to illness.
ITAT Chandigarh dismisses revenue’s appeal, affirming partial interest disallowance for Mahesh Kumar Goyal based on consistency with prior assessment years
The Madras High Court ruled that short-term capital gains from the sale of depreciable business assets can be set off against brought forward business losses, citing a similar Bombay High Court judgment.
ITAT Surat dismisses Shree Infra’s appeal, affirming PCIT’s directive for fresh assessment on deemed rental income from unsold stock-in-trade flats under Section 23(5) for A.Y. 2018-19.
ITAT Delhi has deleted a ₹3.92 crore tax addition against I.P. Constructions, finding that Assessing Officer’s calculation of project completion percentage was based on an arithmetic error.
ITAT Pune ruled that interest from deposits in cooperative banks is eligible for deduction under Section 80P of Income Tax Act, treating them as cooperative societies.
