ITAT Delhi held that TDS deposited by a buyer in a later year cannot override correct assessment year of capital gains. Form 71 enables taxpayers to claim such TDS credit in year of ...

The Court condoned a 31-day delay in filing Form 10B after finding the reasons bona fide and linked to COVID-19 disruptions. It set aside the rejection order and directed reprocessing of the return ...

The ITAT remanded a case where a charitable society’s 80G(5) registration was rejected because incidental sales were misclassified as business income. The Tribunal emphasized evaluating the society’s ...

Martin Lewis has issued a State Pension tax warning ahead of the Autumn Budget as the benefit is set to increase next April.

Explains how Section 194Q requires buyers with large turnover to deduct TDS on purchases above ₹50 lakh. Key takeaway: The buyer becomes responsible for compliance, ensuring major transactions are ...

ITAT held that the delay in filing appeal was caused by genuine reasons, including the taxpayer’s age and misunderstanding of online procedures. The case was remanded to CIT(A) for fresh adjudication ...

The Court ruled that a fresh demand under Section 73 cannot be raised when the taxpayer’s explanation under Section 61(2) was already accepted. The decision sets aside the SCN and order issued on the ...

The Tribunal held that amounts paid directly to a confirming party did not accrue to the seller and could not be treated as capital gains. The Section 263 revision was invalidated because the ...

SUPREME COURTSupreme Court Dismisses Customs' Appeal Seeking Rs 93 Lakh Duty On Lulu Malls' Imported TrampolinesCase Title: COMMISSIONER OF CUSTOMS V LULU INTERNATIONAL SHOPPLING MALLS PVT.

An independent analysis by Los Angeles Influence of statutory law, audited filings, and the City of New York’s enforcement records confirms that LuxUrban Hotels Inc. is compliant with all applicable ...

The Tribunal held that once sales are accepted in audited books, they cannot be reclassified as unexplained cash credits. The addition of ₹41.74 lakh was struck down as it caused double ...

The assessee’s plea that delayed PF/ESI deduction was a debatable issue was rejected because Checkmate had settled the law retrospectively. The key takeaway is that once the Supreme Court clarifies ...