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Goods and Services Tax : Explore the contested issue of time-barred GST appeals. While some courts deny interference, a recent Calcutta High Court ruling c...
Income Tax : Profits and Gains of Business or Profession (PGBP) Additions and Deductions Following things should be added to ‘Net Profit as p...
Income Tax : Provisions of section 35 of the Income Tax Act, 1961 covers deduction allowable towards expenditure on scientific research. The pr...
Income Tax : The Finance Act 2020 has brought in some dynamic changes in respect of the exempted Trusts, Societies, NGOs, Charitable Trusts, Se...
Corporate Law : Explore the proposed amendments to Regulations 35, 37, and 50 of the Competition Commission of India (General) Regulations 2009. L...
Income Tax : Deferrement of Procedure for Approval/ Registration/Notifications of certain entities U/s 10(23C), 12AA, 35 & 80G of Incom...
Income Tax : A plain reading of Section 35(2AB) of the Act may suggest that the weighted deduction is not with respect to expenditure on scient...
Income Tax : Section 35 of the Income-tax Act provides for deduction in respect of expenditure on research and development. The existing provis...
Income Tax : The ITAT Bangalore held that a deduction under Section 80G cannot be denied solely because the payment formed part of CSR expendit...
Income Tax : The Tribunal noted that an adjustment under Section 35(1)(iv), already dropped during CPC processing, was later included in assess...
Corporate Law : The Tribunal allowed recovery of ₹10.74 lakh after the borrower defaulted on a car loan and failed to appear in the proceedings....
Income Tax : The Tribunal ruled that once the Assessing Officer scrutinized the Section 10AA claim and R&D allocation, revision cannot be invok...
Income Tax : The Tribunal held that capital gains must be computed using the final stamp value determined after litigation, not an earlier infl...
Income Tax : The Ministry of Finance grants approval to IIIT Hyderabad for scientific research under the Income Tax Act, effective from 2024-25...
Income Tax : Notification 102/2024 designates Auroville Foundation as an approved institution for social science research under the Income Tax ...
Corporate Law : Discover the implications as the provisions of sections 20, 35, and 40 of the Competition (Amendment) Act, 2023 take effect from M...
Income Tax : CBDT has decided that the implementation of new procedure for approval/ registration/notification of certain entities shall be def...
Fema / RBI : UBD.BPD (PCB).Cir No.25/09.11.200/2009-10 Dated - December 3, 2009 The Government had in exercise of powers conferred by Section 3...
Appellant contended that as the SAP did not submit the balance sale consideration within a period of 90 days in terms of the auction document, it was contended that the Liquidator should have cancelled the auction.
Such an agent would, therefore, continue to be covered by Section 32(c) of the Act as he would then present the signed document for registration only as an agent and must necessarily satisfy the requirements of Sections 32(c), 33. 34 and 35 of the Act and the rules framed in that context.
NCLAT Delhi held that application for intervention filed under section 59(7) of the Insolvency and Bankruptcy Code, 2016 [IBC] beyond the period of limitation of three years is time barred.
Depreciation claim under Section 32 was allowable on actual cost of assets which the assessee paid to the erstwhile partners for taking over from a dissolved firm. It did not matter if the partners were from the same family, as the Act did not make any such distinction.
ITAT Nagpur held that co-operative society is eligible to claim deduction under section 80P of the Income Tax Act in respect of interest earned from credit facilities extended to nominal members. Accordingly, appeal of assessee allowed.
Madras High Court held that reassessment proceedings under section 148 of the Income Tax Act initiated on the basis of change of opinion is invalid. Accordingly, appeal of revenue dismissed and substantial questions of law is answered in favour of assessee.
ITAT Chennai held that passing of rectification order under section 154 of the Income Tax Act held to be not sustainable since reasonable opportunity of being heard was not granted specifically when rectification resulted into enhancement of an assessment.
Supreme Court held that no priority of interest can be claimed by the Secured Creditors against the properties attached under Maharashtra Protection of Investors and Depositors Act, 1999 [the MPID Act].
NCLAT Delhi confirms NCLT’s jurisdiction under Companies Act S.213 and NCLT Rules 11 to refer corporate fraud cases to SFIO, even during IBC. Upholds probe into Bhuvana Infra Projects, Bank of Maharashtra, and directors based on forensic audit.
The petitioner is essentially aggrieved by the denial of the benefit of paying tax at lower rate in terms of Section 115BAA of the Act, which was introduced by the virtue of Taxation Laws (Amendment) Act, 2019 with effect from 01.04.2020.
