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-...
Madras High Court held that reopening of assessment invoking provisions of section 148 of the Income Tax Act inspired from a review and a change of opinion is liable to be quashed and set aside.
ITAT Delhi held that disallowance of purchases by treating it as bogus unjustified as the impugned purchases have been sold and the sales have been accepted as there cannot be any sale without purchases.
ITAT Jaipur held that non-deposit of employees contribution to ESI and PF within due date as per the respective Act is disallowance by invoking provisions of section 36(1)(va) r.w.s. 2(24)(x) of the Income Tax Act.
Income tax authorities could not step into the shoes of businessmen to determine how much expenditure should have been incurred for the purpose of business. as an organization incurred both operating expenses as well as non-operating expenses for running the business and there were certain expenses which were not allocable to a particular activity.
Read the detailed analysis of DCIT vs. Agni Estates & Foundations Pvt. Ltd. (ITAT Chennai) case. ITAT upholds deletion of disallowance of sponsorship expenses and interest under Income Tax Act.
ITAT Delhi held that amount advanced to subsidiary companies out of commercial expediency, accordingly, disallowance of interest claimed under section 36(1)(iii) of the Income Tax Act unsustainable.
Read about the Delhi High Court’s decision in Asian Hotels Ltd vs. CIT, where ITAT allowed deductions for renovation, refurbishment, and professional fees.
Explore Delhi High Court’s judgment on PCIT vs VE Commercial Vehicles Ltd, AY 2011-12. Bad debts and training expenses considered. Full analysis here.
The ITAT Delhi upholds the disallowance of ‘commission on sales’ due to failure to demonstrate the actual role played by commission agents in procuring sales.
Delhi High Court granted bail as prolonged incarceration of a person overrides the statutory restriction contained in Section 37(1)(b)(ii) of the Narcotics Drugs and Psychotropic Substances Act, 1985 (NDPS Act).
