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Courts held that enforcement must respect statutory boundaries, curbing aggressive classification and extended limitation without evidence of suppression.
Learn why hospitals must issue proper certificates under the Income-tax Act and how they impact deductions under Sections 80DDB, 80DD, and 80U.
Clarifies that GST demands and ITC notices can only be issued by officers legally empowered under GST laws, reinforcing the strict “proper officer” doctrine.
Pre-Budget 2025: Addressing ambiguities in Virtual Digital Asset taxation, including cost of acquisition, loss set-off, gift valuation, and situs for non-residents.
Supreme Court clarifies its power to set guidelines for courts, but not to dictate them. Understand the limitations of automatic stay vacation, interim relief principles, and how courts can ensure fair and timely case resolution.
In-depth analysis of recent Income Tax Department communications on high-value transactions. Understand the advisory, compliance steps, and implications. Stay informed to avoid penalties.
The transfer pricing rules are meant to prevent tax leakage and market distortion that may result from the prices set for transactions among related parties. While cost-plus is one of the most commonly used methods to assign an appropriate price for a product or service, it’s not the best method to follow in all cases.
Introduction The past half century has been a period of substantial change in tax policy in the advanced democracies. A particularly prominent part of this transformation has been the dramatic tax cuts on the rich across the Organization for Economic Co-operation and Development (OECD) countries. Recently, the newly elected government in United Kingdom (UK) unveiled […]
In this article, the author has tried to analyze the applicability of Estoppel Rule, with the penalty on agreed additions by the assessee. Now, at the outset, practically it is not uncommon for an assessee to agree to additions, if he were to be spared from penalty consequent on such admission.
We are well aware of the recent rationalization of provisions being made with respect to the transfer of capital asset to a partner on the dissolution or reconstitution of a firm or other Association of Persons (AOP) or Body of Individuals (BOI) (not being a company or a cooperative society) or otherwise.
