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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...
Chhattisgarh High Court disposes of DCIT vs. Sanjay Agrawal income tax appeal as tax effect falls below revised ₹2 crore limit per CBDT’s latest circular.
ITAT Delhi rules rental income from leased property is taxable as ‘House Property’ for IHDP Globals, upholding consistency rule in tax assessment.
Ahmedabad ITAT rules against Section 56(2)(x) addition for Deepakkumar Chandulal Shah, citing a title dispute that justified a lower sale price and a stamp duty value difference within the 5% threshold.
Finance Ministry exempts specified income of Andhra Pradesh Pollution Control Board from tax under Section 10(46). Applies from AY 2022-23 to 2026-27.
Pune Zilha Madhyawarti Sahakari Vs PCIT (ITAT Pune) ITAT Pune held that revisionary order under section 263 of the Income Tax Act is liable to be quashed as AO conducted detailed enquiry and after proper application of mind has taken one of the view legally permissible and concluded the assessment. Accordingly, appeal allowed. Facts- The […]
Finance Ministry exempts ICRISAT from TDS under Section 197A(1F) of Income Tax Act, effective from publication date. Exemption aligned with UN privileges.
ITAT Mumbai rules employee contributions to PF/ESI are disallowed if deposited after statutory due dates, even if before ITR due date, upholding Section 36(1)(va).
ITAT Raipur dismisses Shivam Attires’ appeal, upholding disallowance of late PF/ESIC deductions, citing Supreme Court’s Checkmate Services ruling.
ITAT Bangalore remands Kodavaame Trust’s 12AB and 80G tax exemption cancellation to CIT(E) for fresh consideration due to submitted documents.
ITAT Pune cancels Section 271(1)(c) penalty against Vikas Jayram Bhukan, citing a defective notice that failed to specify the charge, referencing Bombay High Court precedents.
