Learn how Employee Stock Option Plans work under the Companies Act, SEBI regulations, and taxation rules. Key takeaways include eligibility, vesting, exercise price, and capital gains implications.
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 illegal assessments effectively.
Sikkim HC ruled that non-banking cooperative societies can claim deductions on interest income from cooperative banks, reversing ITAT’s misinterpretation of section 80P(4).
The court held that a VAT assessment without serving the required Form-25 notice is void, and any recovery made is unlawful. Tax authorities must ensure proper communication to enforce assessments.
The 2025 amendment raises the thresholds for small companies, allowing more private firms to benefit from reduced regulatory requirements and simplified reporting.
ITAT held that mass same-day approval without reviewing records violated Section 153D. The ruling confirms that mechanical approvals invalidate 153A assessments.
ITAT ruled that reopening assessment under Section 147 is invalid if the filed return is ignored. The case was remitted for fresh consideration after allowing the assessee to substantiate claims under Section 54F.
The Tribunal held that reopening under Section 147 was legally sound and unaffected by arguments based on 153C or Notification 18/2022. Still, it directed a full rehearing because the appellate authority issued non-speaking orders without examining the merits.
ITAT Hyderabad rules that gross sale proceeds of capital assets cannot be treated as taxable income without allowing cost of acquisition. Tribunal orders reassessment to compute correct capital gains, despite assessee’s non-compliance.
ITAT held that an appeal delayed by almost six years must not be dismissed outright without examining genuine hardships. Medical evidence of the assessee’s child justified potential condonation of delay. The case highlights the balance between limitation and natural justice.
