The Tribunal observed that Form 67 was available before 143(1) processing, making the denial of FTC unjustified. It set aside the appellate order and directed the AO to grant FTC after ...

President Trump discussed his "no tax on tips" plan in January. The IRS has released its guidance for the "no tax on tips" ...

ITAT Kolkata ruled that belated filing of Form 10B is only a technical defect and cannot justify denial of charitable exemption. The Tribunal restored Section 11 benefits after confirming compliance ...

Discover how identifying errors in Assessing Officer jurisdiction, notice issuance, and approval under Sections 148/148A can secure favorable ITAT/CIT(A) rulings. Learn key strategies to challenge ...

A federal court said the pair “vastly overreported their actual income and taxes paid” in 2020 and now demands repayment with interest.

Plus: Holiday parties, booze on the beltway, a proposal to end dual citizenships, Affordable Care Act subsidies, Trump ...

Incorrect Form 3CD reporting led CPC to treat rental income and capital gains as business income. The Tribunal ruled that such mismatches cannot justify additions without ...

The Tribunal held that CIT(A) misinterpreted a VSVS 2020 declaration for penalty as covering quantum, dismissing the appeal ...

The IRS has released guidance for President Donald Trump's tips and overtime deductions. Here's what workers need to know.

Court held that Section 74 proceedings cannot be initiated when tax and interest are paid before issuance of notice under Section 73(5). The ruling confirms that premature invocation of Section 74 is ...

ITAT Pune held that rejection of application for registration under section 12A read with section 12AB of the Income Tax Act ...