The Gujarat High Court held that revisional powers under Section 263 cannot be invoked merely because the Commissioner prefers another valuation method. The Court ruled that the Assessing Officer had conducted proper inquiry and adopted a plausible view based on the DVO report.
The ITAT Delhi held that reassessment notices issued after expiry of the surviving limitation period under the amended reassessment regime were invalid. The Tribunal quashed the reopening proceedings and related penalties for both assessment years.
The Tribunal ruled that organising symposiums and providing support services for discussions on tropical diseases cannot be classified as Event Management Services. The order partially allowed the appeal while upholding tax on Scientific Consultancy Services.
The omission of Section 13(8)(b) of the IGST Act allows intermediary services provided to overseas clients to qualify as exports. The amendment removes the 18% GST burden and strengthens India’s global service competitiveness.
A comprehensive guide explaining taxation of house property income, annual value computation, deemed ownership, and deductions under the Income Tax Act, 2025. Covers practical examples and key compliance requirements for taxpayers.
A detailed guide explaining appellate procedures, drafting of grounds of appeal, and preparation of Statement of Facts under Income-tax law. The article highlights how proper drafting significantly influences appellate success.
Explains how Section 16(2)(c) links ITC eligibility to supplier tax payment, causing hardship for bona fide taxpayers even when invoices, payments, and goods are genuine.
ICAI has warned members and students against fraudulent calls, emails, and WhatsApp messages seeking confidential information and payments. The advisory clarifies that ICAI never asks for OTPs or banking details through unofficial channels.
SEBI has proposed major amendments to the Buy-Back Regulations, including removal of mandatory merchant banker appointments and simplified operational requirements. The consultation paper aims to reduce compliance costs while ensuring investor protection and transparency.
The article explains that companies handling large-scale or sensitive personal data should proactively prepare for possible Significant Data Fiduciary classification under the DPDP Act. It highlights governance, security, and operational compliance measures required before May 2027.
