Delhi High Court held that Dispute Resolution Panel [DRP] cannot merely approve the conclusion of TPO without giving independent findings. Accordingly, writ dismissed as no substantial question arise in the petition.
The High Court held that issuing a draft assessment order under Section 144C is invalid where the Transfer Pricing Officer proposes no variation. The key takeaway is that absence of TP adjustment means the assessee is not an “eligible assessee,” making DRP proceedings without jurisdiction.
The issue was whether gains qualify as long-term when shares are bought unlisted and sold post-listing. It was held that the holding period starts from purchase and LTCG under section 112A applies if STT is paid on sale.
The Tribunal ruled that dismissing appeals in limine without examining reasons for delay was improper. It restored the matters for fresh consideration, stressing that procedural lapses should not defeat substantive justice.
While foreign investors appear to be net sellers in Indian markets, the data shows a clear shift toward banking stocks. The key takeaway is strategic sectoral rotation, not an exit from India.
The Tribunal held that post–Finance Act, 2024, an 80G application can be filed any time after commencement of activities. Rejection solely for delay was set aside and the application was restored for fresh consideration.
The ruling found that the authorities failed to examine party-wise payment limits before disallowing expenses for alleged TDS default. Key takeaway: threshold verification is essential before invoking section 40(a)(ia).
Total income includes capital gains for the ₹5 lakh limit, but the rebate cannot reduce tax on special-rate income. The key takeaway is that eligibility and adjustment operate differently.
The CGST Act clearly covers territorial waters but is silent on EEZ. This raises a serious question on whether mapping EEZ to coastal States is legally sustainable.
The Companies Act, 2013 limits immunity for non-executive directors by linking liability to knowledge and diligence. Courts now require active oversight rather than passive board membership.
