The MCA has widened CSR eligibility by recognizing subscriptions to Zero Coupon Zero Principal Instruments as a valid CSR activity. The amendment creates a new avenue for funding public welfare projects through Social Stock Exchange-listed NPOs.
The Tribunal criticized the Assessing Officer for taking a contrary stand in later years after allowing the same deduction on identical facts in an earlier assessment. It held that such inconsistent treatment without distinguishing facts was unsustainable.
India has strong growth drivers including digitalization, manufacturing, and a young population. The key challenge is sustaining growth while addressing unemployment, inequality, and infrastructure gaps.
Learn when home office expenses qualify for tax deductions under IRS rules. The article explains exclusive use, regular use, principal place of business tests, and available deduction methods.
The High Court set aside retrospective GST registration cancellation after finding that the show cause notice failed to disclose the factual basis of the allegations. The ruling emphasizes the need for a meaningful opportunity to respond before adverse action is taken.
The Court held that toll collection rights granted under a BOT concession agreement amounted to consideration for works contract services. As a result, GST liability on the road construction arrangement was upheld.
The High Court held that an earlier CGST show cause notice involving overlapping entities could not be ignored. The State GST notice was directed to remain in abeyance pending adjudication by the CGST Authority.
The High Court directed the Tax Recovery Officer to decide the taxpayer’s pending objection after payment of arrear MV tax. It also restrained authorities from taking coercive recovery measures until the objection is adjudicated.
The High Court held that the addition under Section 40(a)(i) could not survive because it was made contrary to the DRP’s binding directions. The assessment order was set aside to that extent.
The Tribunal held that a bank guarantee wrongly reported as a contingent liability in the tax audit report could not be added to income when it was not claimed as an expense. It directed deletion of the ₹9.41 lakh addition made on the basis of the reporting error.
