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Income Tax : The issue is whether high-income earners can reduce tax liability under the old regime. The analysis shows that structured allowan...
Income Tax : The ruling clarifies that unverified excel sheets seized from third parties cannot justify additions without corroborative evidenc...
Income Tax : The new law replaces the 1961 Act with a simplified, structured tax system. It reduces compliance burden through streamlined forms...
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 : 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 : ITAT Bangalore condoned a 143-day delay caused by employee resignation, holding procedural lapses shouldnt deny justice. CIT(A)s o...
Income Tax : The tribunal held that disallowance based solely on third-party information without independent verification is unsustainable. It ...
Income Tax : The tribunal held that generation-based incentive linked to electricity output qualifies for deduction under Section 80-IA. It rul...
Income Tax : ITAT Bangalore held that even in ex-parte assessments, gross bank deposits cannot be taxed as income without proper inquiry. Delay...
Income Tax : ITAT Bangalore held CSR trust denial unjustified, ruling donation genuineness proven and no 3-year track record needed. Directed g...
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 Delhi held that exemption granted to political party under section 13A denied to assessee (Indian National Congress) due to violation of 3rd proviso i.e. return of income not filed within prescribed due date. Accordingly, appeal of assessee dismissed.
Bombay High Court held that the expression ‘a residential house’ in unamended Section 54(1) of the Act includes more than one residential house. Thus, sale proceeds of one residential house used for purchase of multiple residential house qualifies for exemption u/s. 54(1).
Understand the Indian government’s tax framework for Virtual Digital Assets (VDAs). Learn about the flat 30% tax on gains, the 1% TDS rule, and limitations on deducting losses.
ITAT Ahmedabad held that once cash sales are accepted as genuine for the purpose of determining profit, the same cannot be added again as unexplained cash credit by invoking provisions of section 68 of the Income Tax Act. Accordingly, appeal of revenue dismissed.
ITAT Chennai rules that the buyer’s intention is irrelevant when classifying land. The court upholds the agricultural nature of land based on revenue records, not the buyer’s plans.
ITAT Ahmedabad rules on the admissibility of new claims during reassessment and appellate proceedings, distinguishing between the limited scope of Section 147 and the broader jurisdiction of appellate authorities.
Karnataka High Court dismisses a Revenue appeal, affirming that additions cannot be made under Section 153A without incriminating material found during a search.
ITAT Pune remands 80G approval case, stating incorrect section code is not fatal. Directs CIT(E) to allow rectification and hear the application on merits.
AO taxed the said surrendered amount under the provisions of section 115BBE of the Income Tax Act. CIT(A) allowed the appeal of the assessee. Being aggrieved, revenue has preferred the present appeal.
ITAT Cuttack overturns ₹5.01 lakh addition, ruling business receipts are a substantiated source for cash deposits. Ad-hoc expense disallowance also deleted for AY 2017-18.
