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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...
Delhi ITAT deleted a ₹10,000 penalty under Section 271(1)(b), finding no deliberate defiance by the assessee despite a delay in responding to a tax notice.
The ITAT Mumbai has returned a case to the CIT(A), ruling that the appeal was wrongly dismissed on a technicality without considering documents filed on time.
The ITAT Delhi has quashed an income tax reopening, ruling that a “mechanical” approval from the prescribed authority under Section 151 of the Income-tax Act is invalid.
Mumbai ITAT voids reassessment proceedings for CEC-ITD CEM TPL Joint Venture, citing the Assessing Officer’s failure to adhere to Section 148A procedures, including non-disclosure of material and non-consideration of the assessee’s reply.
ITAT Lucknow allowed exemption for Long Term Capital Gains on a share sale, ruling that tax authorities cannot rely on un-furnished investigation report to dismiss a taxpayer’s claim.
The ITAT Ahmedabad ruled that the TDS threshold under Section 194IA applies to the payment made to each individual seller, not the total transaction value.
Learn which ITR form is right for you. This guide breaks down common ITR forms (1-7) based on income sources for individuals, businesses, and other entities.
The ITAT Lucknow bench deleted an addition made under Section 69A, ruling that a cash deposit from the assessee’s wife’s withdrawals was a sufficiently explained source.
SC ruled that entities for general public utility can claim income tax exemptions, provided any incidental business or trade receipts do not exceed 20% of their total receipts.
Learn about Minimum Alternate Tax (MAT) for Indian companies, including its purpose, calculation under Section 115JB, and the process for filing it.
