Corporate Law : Supreme Court clarifies power to modify arbitral awards under Section 34 in Gayatri Balaswamy case, raising questions on finality,...
Income Tax : Learn about disallowed expenses under PGBP in India's Income Tax Act. Understand key sections like 37, 40, and 40A, and their impa...
Income Tax : Delhi HC rules reimbursements to NRAEs not subject to TDS as "fees for technical services," clarifying scope of Section 9(1)(vii) ...
Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Corporate Law : Discover the process and types of trademark assignment. Learn about procedures, required documents, and benefits for a smooth tran...
Corporate Law : Explore the proposed amendments to Regulations 35, 37, and 50 of the Competition Commission of India (General) Regulations 2009. L...
Income Tax : Allowability of Interest paid under Incometax Act, 1961: Presently, interest paid by the Government to an assessee is chargeable t...
Income Tax : The Mumbai ITAT held that reversal of securitisation provisions already disallowed in earlier years cannot be taxed again upon wri...
Income Tax : The Chennai ITAT held that deductions approved by DSIR under Section 35(2AB) cannot be disallowed merely on the basis of survey st...
Income Tax : The Supreme Court held that grants disbursed by a statutory corporation formed part of its core business functions and qualified a...
Income Tax : The Tribunal ruled that mere observations about cash transactions are insufficient to levy penalty under Section 271D. A specific ...
Income Tax : The ITAT Delhi ruled that reimbursement of software costs to foreign AEs on a cost-to-cost basis could not be treated as a profit-...
ITAT Mumbai orders DVO reference in Fakhruddin T. Malik case, ruling AO erred by not valuing disputed property despite assessee’s request.
Calcutta High Court held that once, the self-assessed tax as per Section 37 is included in the return furnished under Section 39 of the CGST Act, Section 75(12) of the CGST Act can no longer be invoked for recovery.
ITAT Ahmedabad held that the assessee was eligible for claim of deduction under Section 80G of the Act in respect of donation made to Mukhyamantri Shree Swachchta Nidhi Gujarat, as part of its CSR initiative. Accordingly, appeal of assessee allowed.
ITAT Mumbai held that head office expenditure incurred outside India exclusively for the Indian branches does not fall within the ambit of section 44C of the Income Tax Act. Accordingly, appeal of the assessee allowed.
ITAT Delhi held that addition under section 69C of the Income Tax Act towards bogus purchases cannot be sustained merely for failure on the part of 3rd party in not responding to the summons. Addition set aside since genuineness of transaction proved.
ITAT Ahmedabad orders AO to re-examine rectification request after depreciation was wrongly considered as net profit in tax intimation.
During the year, assessee has entered into several international transactions as per Form 3CEB and after analyzing the transactions under consideration. By relying on various decisions, TPO has rejected the submissions of the assessee.
Madras High Court held that provisions of Section 26E of the SARFAESI Act and Section 34 of the Recovery of Debts and Bankruptcy Act, 1993 (RDB Act) would prevail over the provisions of Section 24 of the Tamil Nadu General Sales Tax Act, 1959 (TNGST Act).
ITAT Mumbai held that invocation of revisionary proceedings under section 263 of the Income Tax Act not justified since AO has taken plausible view. Accordingly, order passed u/s. 263 set aside and appeal of assessee allowed.
ITAT Ahmedabad held that assessment order passed against non-existent entity is an invalid assessment order and hence entire assessment framed is liable to be quashed. Accordingly, appeal of assessee allowed.
