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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...
Calcutta High Court held that merely because share transactions were done through stock exchanges it doesn’t make the transactions genuine. Accordingly, bogus capital loss claim rejected and appeal of revenue allowed.
ITAT Raipur restores appeal dismissed ex-parte by CIT(A), finding no proof of notice served via physical mode as opted by assessee in Form 35.
ITAT Kolkata confirms ₹31.15 lakh loan repayment is not unexplained cash credit, upholding deletion of addition for New Charan Kanwal Finance.
The ITAT Mumbai has ruled against an arbitrary 3% net profit addition for a liquor dealer. The court found the addition was based on assumptions, not evidence, as the books were audited
The ITAT Ahmedabad has restored a case involving unexplained cash deposits of Rs. 18.32 lakh to the Assessing Officer, citing a failure to examine debit entries and additional evidence, and condoning a 323-day delay in appeal filing.
ITAT Panaji sets aside NFAC’s dismissal of tax appeal for one-day delay, citing hyper-technical grounds and affirming timely filing.
ITAT Cochin provides partial relief to Palmshore Hotels, remanding the case to AO for fresh adjudication on business income classification and Section 43B disallowance.
The Madras High Court set aside an ITO order, granting a petitioner another chance to submit documents missing from their initial show cause notice reply.
ITAT Patna remands an ex-parte tax assessment case to the AO for fresh adjudication, granting the absent assessee another hearing opportunity.
Addition made by AO in the hands of the trust was not justified as income from investments was taxable in the settlor’s hands and exempt under the India-UAE Double Taxation Avoidance Agreement (DTAA).
