CBDT signed a record number of APAs to provide clarity on transfer pricing and reduce disputes. The framework ensures advance determination of pricing methods, minimizing litigation and double taxation risks.
The reform removes value restrictions on courier exports, enabling higher-value shipments. It aims to boost e-commerce exports and ease compliance for businesses.
ICAI granted a one-time relaxation allowing delayed UDIN generation for documents signed during the portal transition period. The move helps regularize compliance gaps caused by technical disruptions.
ICAI introduces phased applicability for new financial reporting guidance. Larger entities must comply first, followed by all entities from 2026.
The message underscores how technological advancements like AI and digital finance are reshaping the profession. It highlights the need for ethical conduct and continuous learning to remain relevant in a rapidly evolving environment.
The directive treats property owners as suppliers for organiser defaults, creating significant financial exposure. It underscores the need for strict compliance and documentation.
Authorities cannot impose full penalty when tax is already paid via DRC-03. Non-payment of interest or penalty does not revive discharged tax liability.
The Tribunal held that the assessee was not given adequate opportunity to present evidence. The matter was remanded for fresh adjudication considering additional documents.
The Tribunal held that where interest-free funds exceed investments, no disallowance is warranted. It applied the presumption that investments are made from own funds.
Zee Entertainment Enterprises Limited Vs DCIT (ITAT Mumbai) The matter concerns two appeals filed by the assessee against orders of the Commissioner of Income Tax (Appeals)-48, Mumbai, for Assessment Years (AY) 2015–16 and 2019–20. Both appeals arise from assessment orders passed under Section 143(3) read with Section 147 of the Income Tax Act, 1961. Since […]
