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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...
Delhi ITAT voids BBC World Service India’s 2017-18 tax assessment, ruling the final order was issued beyond the statutory time limit.
ITAT Mumbai quashes APM Terminals India’s 2017-18 assessment order, citing tax authorities’ failure to meet statutory deadlines for finalization.
Selecting the right Income Tax Return (ITR) form (ITR-1 to ITR-7) for AY 2025-26 is crucial for tax compliance. This guide outlines applicability for individuals, businesses, and other entities.
Gujarat High Court dismisses revenue appeal, affirming that delayed Form 10B filing is procedural for charitable trusts, distinguishing from Wipro Ltd. precedent.
ITAT Mumbai grants Vishwaroop Infotech partial relief on unrealized rent and Section 14A disallowance, highlighting commercial expediency and proper expense attribution.
ITAT Delhi quashes Rs. 10,000 penalty on Carreen Builders under Section 271(1)(b), citing assessee’s cooperation and assessment completion under Section 143(3).
Delhi ITAT sets aside penalty on Globus Infocom for non-compliance, citing AO’s own records and a crucial precedent on Section 143(3) assessments.
Delhi ITAT rules on Sushil Bansal’s appeal, deleting interest u/s 234B and penalty u/s 271AAB on Rs. 88 lacs seized cash, citing pre-search disclosure.
ITAT Chandigarh rules that CPC lacked power to disallow Section 80P deduction for late-filed returns under Section 143(1) for AY 2018-19, citing statutory amendments.
ITAT Rajkot overturns CPC’s disallowance of Section 80P deduction for a co-operative society’s late return, clarifying the scope of Section 143(1) adjustments for AY 2019-20.
