The provisions on tip and overtime compensation were enacted as part of H.R. 1, P.L. 119-21, commonly known as the One Big ...

W-2s and 1099s will not have new fields this year, but the IRS has now provided guidance on how employees can still claim tax deductions for tips ...

New deductions will lower the tax bills for many Americans. Those who prefer to pay less in taxes throughout the year may ...

The Tribunal held that once CPC allowed the 80JJAA deduction through a subsequent Section 154 order, the earlier rectification appeal no longer survived. The appeal was dismissed as academic, with a ...

The Court held that the impugned GST notice and adjudication orders suffered from multiple legal defects and quashed them. Authorities can issue a fresh notice, with limitation suspended for the ...

Millions of Americans will need to decide between paying skyrocketing health care premiums or going without coverage in 2026 ...

Kerala High Court held that compounding under KVAT Act for that year cannot be cancelled in case suppression of turnover is detected with respect to dealer who have paid tax at compounding rate.

The capital-gains addition of ₹4.02 crore arose from 143(1) but was included in the 143(3) scrutiny assessment. ITAT directed CIT(A) to decide the appeal on merits, ensuring the assessee’s rights ...

The Tribunal held that the CIT(A) erred by dismissing the penalty appeal solely due to VSVS settlement of interest, without adjudicating the depreciation-related penalty. Key takeaway: all grounds ...

The case examined whether the tax officer was justified in rejecting the assessee’s DCF-based share valuation under Section 56(2)(viib). The Tribunal held that once DCF is chosen, the AO cannot switch ...

ITAT Ahmedabad set aside the ex-parte CIT(A) order confirming ₹36.3 lakh addition for advance rent. The matter was restored to AO for de-novo adjudication, and the assessee was granted full ...