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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 : ITAT Delhi held that revisionary proceedings under 263 of the Income Tax Act justifiable since related-party expenses were accepte...
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 : 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...
Pune ITAT deletes Section 270A penalty on Advik Hi-Tech Pvt. Ltd., ruling non-disclosure of adjusted IT refund interest was an inadvertent error, not under-reporting.
Kolkata ITAT rules Section 143(2) notice not conforming to CBDT format is invalid, quashing the assessment and subsequent revision order for Nadia District Central Cooperative Bank.
Kolkata ITAT rules Section 143(2) notice without specifying scrutiny type is invalid, leading to quashed assessment for Durga Automotives.
This article offers a timely and easy-to-understand comparison between the old and new tax regimes, updated for the latest provisions under Section 115BAC for FY 2024–25. It also includes break-even illustrations, deduction analysis, and practical guidance for salaried individuals, professionals, and business owners—making it highly relevant for your audience during the current ITR filing season.
Madras High Court rules that mere disallowance of a deduction does not automatically attract penalty under Section 271(1)(c) of the Income Tax Act.
ITAT Mumbai rules that compensation received for a “right to sue” is not taxable as capital gains, citing Section 6 of the Transfer of Property Act and the non-transferability of such a right.
ITAT Bangalore sets aside cash deposit addition for Anilraddi Karakalli, allowing new evidence for fresh AO review. The case concerns unexplained cash deposits and contract work income.
ITAT Mumbai reverses disallowance of Rs.1.58 Cr legal and professional fees for Avitel Post Studioz Limited, holding it as revenue expenditure incurred for business purposes, not capital.
ITAT Bangalore sets aside CIT(E)’s unreasoned rejection of 80G approval for Hanumad Janma Bhoomi Teertha Kshetra Trust, directing fresh consideration of its charitable activities.
ITAT Bangalore dismisses Revenue appeals, ruling no TDS required on salary reimbursement for seconded employees. The court determined the Indian entity was the economic employer, and payments were not for technical services.
