A complete overview of the statutory process for raising capital through a rights issue, including offer preparation, allotment, filings, and timelines.
The Tribunal ruled that offshore supply receipts could not be taxed as the Revenue failed to establish any Permanent Establishment. It confirms that FOB-based offshore execution shields non-residents from Indian taxation.
Tribunal upheld 153C jurisdiction based on seized documents and statements, but rejected the AO’s full bogus-purchase addition, sustaining only a 10% profit estimation after book rejection under section 145(3).
Exceeding ₹2.5 lakh B2B output tax liability under Rule 14A risks GST registration cancellation and ITC disruption. Learn how to transition to normal registration immediately.
Section 135 mandates companies above certain thresholds to spend 2% of profits on social initiatives, establish CSR committees, and disclose activities in annual reports for transparency and accountability.
The Court held that the negative blocking of Input Tax Credit under Rule 86A CGST was ultra vires, directing authorities to restore ₹5.56 lakh ITC within 15 days, reaffirming taxpayer rights.
PPIRP offers a rapid, low-cost alternative to traditional insolvency but adoption remains limited due to creditor consensus requirements, NCLT delays, and low MSME awareness.
The Tribunal held that cash deposits were fully supported by stock records and sales invoices, proving they were genuine business receipts. It ruled that Section 68 cannot apply to recorded turnover already taxed.
Explains that revenue records alone don’t qualify land as agricultural; actual use determines tax treatment. Key takeaway: Land used commercially may attract capital gains tax despite agricultural classification.
ITAT held that charitable trusts without member-wise income shares cannot be taxed at 30% MMR. Tax must be applied at normal slab rates per CBDT Circular 320.
