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.
The article explains how RBI’s revised Loan-to-Value framework in 2026 makes EMI calculators crucial for determining accurate gold loan eligibility and repayment planning. It highlights the role of calculators in managing borrowing risks and improving financial decisions.
The Delhi ITAT held that belated filing of Form No. 67 is only a procedural lapse and cannot extinguish substantive Foreign Tax Credit rights under sections 90/90A/91 and applicable DTAAs. The Tribunal directed verification and grant of FTC where the form was filed before completion of assessment proceedings.
ITAT Delhi held that levy of penalty under Section 271D requires pending or completed assessment proceedings containing findings on Section 269SS violation. Since no regular assessment was framed, the penalty was directed to be deleted.
Delhi ITAT held that uncorroborated WhatsApp messages and digital chats cannot by themselves establish undisclosed cash transactions. The Tribunal deleted additions made solely on presumptions without independent evidence.
The Supreme Court held that courts must undertake a meaningful reading of the plaint and reject suits that indirectly seek enforcement of prohibited benami transactions. The ruling strengthens Order VII Rule 11 CPC as a safeguard against sham and legally barred litigation.
