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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...
The Kerala High Court ruled that an income tax assessment based on a DVO’s valuation cannot be revised under Section 263 without concrete material proving error.
ITAT Ahmedabad partially allows Vadilal International’s appeal, cutting the Section 14A disallowance for exempt dividend income from Rs. 15 lakh to Rs. 30,000.
ITAT Delhi cuts ad hoc expense disallowance for Biolife Medical Pvt. Ltd. from 10% to 4%, citing lack of proof and comparables, with a non-precedent clause.
ITAT Pune remands Vardhaman Vasundhara Family Trust’s appeal to CIT(A), citing failure to adjudicate merits of brought forward capital loss set-off and violation of Section 250(6).
Delhi ITAT sets aside reassessment notices against Sampark Management Consultancy LLP, citing invalid sanction post-Finance Act, 2021, and lack of proper authority approval.
Ahmedabad ITAT directs CIT(Exemption) to review Shree Kadava Patel Gau Seva Samaj Jamvali’s tax exemption applications on merits, overturning procedural dismissal.
ITAT Delhi allows full relief to salaried individual for demonetization cash deposits, citing religious beliefs and proven salary withdrawals.
Visakhapatnam ITAT dismisses revenue’s appeal in DCIT vs. Datla Vivekananda Raju, upholding telescoping benefit for marriage expenditure against company’s admitted income.
Madras High Court rules assessment reopened under Section 147, completed under 143(3), is invalid if mandatory Section 143(2) notice isn’t issued.
Delhi ITAT rules against Ashok Kumar, denying Section 54F exemption for a residential property bought in his mother’s name, citing jurisdictional precedents.
