A clear overview of the legal and procedural requirements for transferring shares between non-residents. Explains valuation, documentation, approvals, and statutory updates.
The Tribunal ruled that Section 263 jurisdiction is barred under Explanation 1(c) if the matter is under appeal before CIT(A). AO’s assessment, including enquiry into statements and ledgers, was found proper. PCIT’s revision attempting to tax full Rs.1.59 Cr as bogus purchase was quashed.
Breaks down complete regulatory framework governing corporate guarantees and highlights why GST valuation and related-party approvals are critical compliance risks.
Examines whether India can adopt a Debtor-In-Possession system and concludes that only a selective or hybrid model is feasible given governance and oversight gaps.
Explains how ITC claimed, reversed, and reclaimed within the same year must be reported in GSTR-9, clarifying the correct use of Tables 6B, 7A/7H, and 6H.
The Tribunal held that the Section 148 notice issued by the jurisdictional officer instead of the faceless authority violated Section 151A. With the notice invalid, the reassessment and jewellery addition were quashed.
Explains when food and hospitality expenses qualify as business deductions and outlines the tests under Section 37(1) to distinguish commercial necessity from personal spending.
A clear and practical breakdown of how deferred tax assets and liabilities are recognised under Ind AS 12 and IAS 12, with sector examples and key compliance takeaways.
The Tribunal ruled that the AO erred in applying a 15% illiquidity discount on shares valued by the NAV method. SEBI MF guidelines and DCF-based precedents were deemed irrelevant. The assessee’s valuation was confirmed, and the Rs. 8.70 crore addition was nullified.
The Supreme Court reaffirms that High Courts must refuse writs under Article 226 when effective alternate remedies exist. The ruling stresses scrutiny of material facts and proper justification before invoking extraordinary jurisdiction.
