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Income Tax : The issue is whether high-income earners can reduce tax liability under the old regime. The analysis shows that structured allowan...
Income Tax : The ruling clarifies that unverified excel sheets seized from third parties cannot justify additions without corroborative evidenc...
Income Tax : The new law replaces the 1961 Act with a simplified, structured tax system. It reduces compliance burden through streamlined forms...
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 : 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 Bangalore condoned a 143-day delay caused by employee resignation, holding procedural lapses shouldnt deny justice. CIT(A)s o...
Income Tax : The tribunal held that disallowance based solely on third-party information without independent verification is unsustainable. It ...
Income Tax : The tribunal held that generation-based incentive linked to electricity output qualifies for deduction under Section 80-IA. It rul...
Income Tax : ITAT Bangalore held that even in ex-parte assessments, gross bank deposits cannot be taxed as income without proper inquiry. Delay...
Income Tax : ITAT Bangalore held CSR trust denial unjustified, ruling donation genuineness proven and no 3-year track record needed. Directed g...
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 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.
Himachal Pradesh High Court stays reassessment proceedings against Prakash Chand Jadaik, awaiting the Supreme Court’s verdict on similar Section 148 challenges.
Delhi ITAT rules bank passbooks are not books of account for Section 68 additions, quashing unexplained cash credit claims without assessee’s formal books.
