FTM under Section 233 allows mergers without NCLT intervention, reducing time, cost, and documentation. Eligible small companies, start-ups, and holding-subsidiary structures can complete mergers efficiently.
ITAT confirmed Section 263 revision after finding that the AO wrongly allowed delayed PF/ESI contributions despite binding Supreme Court law. The reassessment was deemed erroneous and prejudicial to Revenue.
The Income Tax Act, 2025 streamlines 800+ sections into 536, codifies decades of judicial rulings, and simplifies compliance for taxpayers and businesses.
The Supreme Court ruled that TDS on payments to non-residents cannot exceed treaty-specified rates, even if PAN is not provided, ensuring DTAA provisions prevail over Section 206AA.
