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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 Bangalore allows appeal of Mysore Brindavan Sky Trust, ordering fresh consideration of its 12AB registration after CIT(E) incorrectly concluded no activities by the trust.
ITAT Bangalore rules that Section 14A/Rule 8D disallowances cannot be made mechanically without the AO recording proper satisfaction regarding the assessee’s claim of expenditure.
ITAT Cuttack held that reassessment proceedings cannot be sustained since issue already considered during original assessment by AO and hence reopening amounts to change of opinion. Accordingly, order quashed.
ITAT Delhi held that permission of initiation of reassessment proceedings u/s. 148 of the Income Tax Act beyond the period of three years is to be obtained only from Pr. Chief Commissioner of Income Tax. Here, permission obtained from Pr. Commissioner of Income Tax is invalid.
Learn how to apply for a Lower TDS Deduction Certificate under Section 197. Understand the step-by-step process, required documents, and benefits for your business.
ITAT Delhi held that addition under section 69A of the Income Tax Act towards cash deposited during demonetization period deleted to the extent of cash sales which is accepted. Accordingly, appeal partly allowed.
ITAT Mumbai held that revisionary order passed u/s. 263 of the Income Tax Act cannot be sustained to the extent AO duly examined the issue during scrutiny assessment proceedings and plausible view taken after proper application of mind.
It was held that Long-term capital gains on sale of “penny” stocks could not be treated as bogus & unexplained cash credit if the documentation was in order & there was no allegation of manipulation by SEBI or the BSE.
Bangalore ITAT revives a trust’s 12AB registration plea, stating that a religious label doesn’t disqualify a trust and directing fresh verification of charitable activities.
ITAT Bangalore rules that a rejection letter under Section 154 is an appealable order, directing the CIT(A) to hear the appeal on merits after it was dismissed on technical grounds.
