The ITAT Mumbai held that ESOP discount is an allowable deduction under Section 37(1), observing that the pendency of an SLP against a High Court judgment does not justify disallowance.
The ITAT Delhi held that foreign exchange fluctuation gains arising from export of services must be treated as operating income for transfer pricing purposes. It also ruled that the Safe Harbour Rules were not applicable to the relevant assessment year.
The ITAT held that no addition under Section 56(2)(viib) was warranted where shares were allotted to existing shareholders and no fresh funds were received during the relevant year. The Tribunal deleted the addition after finding the assessee’s valuation supported by registered valuers.
This guide explains the legal framework, renewal process, compliance requirements, and penalties applicable to Drug License holders in India. It highlights the importance of timely renewal and continuous regulatory compliance for pharmacies, wholesalers, and manufacturers.
The Code on Social Security, 2020 introduces significant reforms beyond consolidation of labour laws. This article debunks common misconceptions and explains the key changes affecting employers and workers.
This weekly roundup covers key notifications, circulars, and judicial rulings issued by GST, Customs, RBI, SEBI, MCA, IBBI, and other regulators. It highlights the most significant compliance and regulatory developments affecting businesses and professionals.
The ITAT ruled that approval from the Principal Chief Commissioner/Chief Commissioner is mandatory for reopening assessments beyond three years. Since approval was obtained from an incorrect authority, the reassessment was declared void and the addition was deleted.
The Monetary Policy Committee unanimously retained the repo rate at 5.25% and maintained a neutral stance, citing geopolitical tensions, inflation risks, and uncertainty over growth as reasons for a cautious, data-dependent approach.
IRDAI has proposed comprehensive amendments to insurance intermediary regulations to implement the SBSR Act, 2025. The proposals simplify registration, introduce annual fees, strengthen governance, and enhance policyholder protection.
The GSTAT Bar Association has urged CBIC to extend the GST Tribunal appeal deadline due to persistent technical glitches on the GSTAT portal. The key request is to protect taxpayers’ statutory right of appeal by providing additional time.
