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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...
India’s Finance Ministry details VDA/cryptocurrency tax revenue, compliance tools, and official training, addressing tax evasion concerns
NFAC deletes penalty on taxpayer misled by unqualified agent; case highlights misuse of fake deductions, procedural lapses, and risks of unauthorized TRPs.
ITAT Hyderabad permits ₹49.65 lakh Foreign Tax Credit as assessee filed Form 67 within amended Rule 128(9) timeline for AY 2022-23.
ITAT Delhi affirms no Section 68 addition on non-resident share premium, citing proven identity, creditworthiness, and genuineness.
Karnataka High Court upholds Section 263 revision for erroneous 100% depreciation allowance on leasehold improvements, citing AO’s lack of inquiry and application of mind.
ITAT Ahmedabad rules a 29-day delay in filing Form 10DA is a procedural lapse, not a bar to claiming an 80JJAA deduction, overturning a ₹92.6 lakh disallowance.
ITAT Pune invalidated 153C assessments in the Yuvraj Dhamale group case, citing jurisdictional errors due to Settlement Commission involvement, consolidated satisfaction notes, and mechanical Section 153D approvals.
ITAT Pune clarifies retrospective applicability of 12A registration and condones delayed Form 10B filing for charitable trusts, granting Section 11 exemption.
ITAT Ahmedabad rules superannuation fund contributions are deductible if paid before the tax return due date and the fund is approved, directing AO verification.
ITAT Kolkata rules in favor of Philips India, affirming 30% depreciation on moulds owned by the company but used by exclusive vendors for manufacturing.
