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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...
MPTCA urges the Finance Ministry and CBDT to reconsider the proposed late fee for delayed tax audit reports in the Finance Bill, 2026, citing disproportionate burden.
ITAT held that entire receipts cannot be treated as unexplained when income is already offered to tax. Only unverifiable expenses can be disallowed.
The issue was non-service of an income tax order and availability of remedy. The Court allowed withdrawal and granted liberty to appeal while directing supply of the order.
The Tribunal held that the appellate authority cannot go beyond the issue of TDS credit in a section 143(1) appeal. By directing taxation of entire salary, it effectively enhanced income without proper jurisdiction. The matter was remanded for fresh examination.
The tribunal held that Renewable Energy Certificates are distinct from carbon credits under Section 115BBG and must be taxed at normal rates. The ruling emphasizes strict interpretation of concessional tax provisions.
The issue was whether reassessment was valid without proper service of mandatory notice under Section 143(2). The Tribunal remanded the case for fresh examination, holding that the jurisdictional issue requires reconsideration.
The tribunal held that government support includes capital grants, land, and infrastructure, not just recurring funding. This broader interpretation justified exemption eligibility.
The issue was whether delay in filing appeals could be condoned. The Court held that lack of sufficient cause and negligence justified rejection of the delay application.
The tribunal examined whether surcharge applies to private discretionary trusts taxed at maximum marginal rate. It held that surcharge is not applicable where income is below ₹50 lakh, as per Finance Act thresholds.
The Tribunal ruled that interest earned from mandatory bank deposits by a co-operative credit society qualifies as business income and is eligible for deduction under Section 80P.
