"Practicing as a Chartered Accountant. Senior Partner in M/s R. Sridharan and Co., CAs, Salem, Tamil Nadu. Has authored 17 commentaries on Taxation. More than 400 articles published in various tax journals. Expert in Hindu law, capital gains planning, International Taxation, Planning for Wills and successions, other direct taxes and GST matters, company statutory audits and cost audits. Was a member of the Editorial Board of the Current Tax Reporter. Is a Technical member of the Grievance Redressal Committee, National Stock exchange."
High Courts clarify that procedural lapses cannot lead to permanent GST cancellation, emphasizing compliance, revival, and business continuity.
ITAT Ahmedabad held settlement payments in foreign civil cases are deductible under Section 37(1) as compensatory, not penal, and Explanation 3 is not retrospective.
Recent ITAT and High Court rulings confirm the Tax Residency Certificate (TRC) is key to claiming DTAA benefits, reinforcing protection for pre-2017 foreign investments against ‘shell company’ allegations.
Indian statutory auditors must embrace IT proficiency and CAATs to manage ERP data and system controls. Non-IT friendly audits risk incomplete evidence, fraud, and reputational damage.
GST rulings clarify ITC eligibility on high-tension electricity infrastructure installed outside factory premises. Movable nature and business use prevent blockage under Section 17(5).
Analysis of the Supreme Court’s Skyline Construction (2025) ruling barring double taxation on subcontractor payments; principle upheld in GST via Input Tax Credit.
Family settlements resolve property disputes across all Indian families. Understand validity, the broad scope of ‘family,’ and why registration is essential for immovable property.
Delhi HC reviews CBDT’s decision to exclude Transfer Pricing (TP) cases from the extended ITR deadline, an unprecedented departure from past practice. The case addresses the arbitrary denial of relief to TP-only assessees, raising concerns over administrative fairness and compliance consistency.
Chennai ITAT ruled a S. 271D penalty time-barred, holding that the six-month limitation period starts from the AO’s recorded satisfaction in the assessment order, not the Addl. CIT’s notice.
The CBDT extended the ITR deadline for audited cases (Oct 31 date) but excluded TP audit cases (Nov 30 date). This technical gap means TP deadlines may remain unchanged, requiring an urgent CBDT clarification.
