Supreme Court held that no Court inferior to Court of Sessions shall try an offence punishable under Chapter IV of the Drugs and Cosmetics Act, 1940. Accordingly, High Court rightly dismissed petition filed u/s. 482 for quashing of complaint. Thus, present appeal stands dismissed.
ITAT Lucknow held that additions under Section 68 in search cases cannot be made without incriminating material found during search. Penny stock LTCG additions were deleted and departmental appeals dismissed.
The High Court held that invocation of Section 74 is invalid where the show cause notice lacks specific allegations of fraud, wilful misstatement, or suppression of facts. Without recorded findings of mens rea, proceedings are without jurisdiction.
ITAT Lucknow held that revision under Section 263 cannot be invoked without specifying what enquiries the AO failed to conduct. As the PCIT did not spell out such deficiencies, the revision order was quashed.
India taxes Virtual Digital Assets at a flat 30% with no loss set-off. The article examines whether this framework aligns with equity and neutrality principles.
Residential status under the Income Tax Act, 1961 defines who is taxed and on what income. The article explains how residence, not citizenship, anchors India’s tax jurisdiction.
ITAT Lucknow held that exemption under Section 10(23C)(iiiad) cannot be denied merely due to incorrect section selection in the ITR. The matter was remanded to the AO to examine eligibility on merits after proper hearing.
Tax incentives for FDI are a double-edged sword. While they can bridge the gap in a country’s competitiveness in the short term, they frequently come at the cost of fiscal sustainability, economic equity, and market neutrality. In the era of the Global Minimum Tax, the “race to the bottom” is being replaced by a race toward quality. Nations that prioritize institutional stability, transparent governance, and investments in human capital will likely outperform those relying solely on fiscal favors.
Luxury cars attract 28% GST plus up to 22% Compensation Cess, pushing the tax burden near 50%. The analysis explains whether this structure is justified as fiscal policy or risks becoming economically excessive.
The ITAT Raipur held that prior to 1 June 2015, there was no enabling provision under Section 200A to levy late filing fees under Section 234E while processing TDS returns. The Tribunal ruled the demand for A.Y. 2013-14 unsustainable and deleted the levy.
