Understand why independent directors are prohibited from receiving ESOPs under Indian law, while profit-based commissions are permitted with shareholder approval.
ITAT Hyderabad rejects Papaiah Pulipati’s appeal due to an inordinate 10+ year delay, citing lack of justification and Supreme Court precedent on condonation of delay.
Learn the key differences between Previous Year and Assessment Year in taxation. Explore their definitions, importance, and role in income tax compliance.
ITAT Mumbai upheld the disallowance of deductions claimed by Navbharat Urban Co-operative Credit Society under Section 80P(2)(d), treating income as taxable.
Karnataka HC quashed a case against Arnab Goswami, calling it reckless and baseless. The court noted misuse of Section 505(2) IPC by Karnataka police
ITAT Pune held that when no addition has been made on account of which the case was reopened, the Assessing Officer cannot make any other addition without issuing a fresh notice u/s 148 of the Act.
The Ministry of Finance issues a corrigendum to Notification 26/2024-CUSTOMS (ADD), clarifying details on Textured Toughened Glass specifications.
Assessee challenged the order of cancellation of registration on the ground of not providing an opportunity of hearing as well as such order was passed without assigning any reason for cancellation of the registration of assessee.
The Court emphasized that any denial of ITC should clearly reference the applicable clause under Section 17(5) to allow the taxpayer a reasonable opportunity to contest the claim.
ITAT Jodhpur ruled in favor of Arun Agarwal, allowing exemption under Section 54B for agricultural land sale, emphasizing that partial agricultural use is sufficient.
