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...
Goods and Services Tax : Explore the critical implications of Section 16(4) of the CGST Act, 2017 on taxpayers' Input Tax Credit (ITC) eligibility and the ...
Income Tax : Explore statutory interpretation of Section 37 under Income Tax Act, the meaning of expenditure, and the difference between busine...
Income Tax : Explore the landmark ITAT Chennai 2016 ruling on CWIP expense write-off in Faurecia Emissions vs. DCIT, highlighting evolving lega...
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 : ITAT Hyderabad held that CIT(A) without examining the historical/ empirical data of expenditure incurred by the assessee for recti...
Income Tax : ITAT Ahmedabad held that disallowance of interest under section 14A unjustified as assessee’s own funds are far in excess of the...
Income Tax : The payments, totaling INR 15,59,64,867 for technical assistance and INR 1,99,57,161 as royalty on sales to associated enterprises...
Income Tax : Detailed analysis of Ramanlal Jivrajbhai Patel vs ITO case from ITAT Ahmedabad. Learn about judgments on business expenditure unde...
Income Tax : Explore the case of Pipelic Energy Software India Pvt Ltd Vs DCIT at Telangana High Court. Detailed analysis on why subsidiary exp...
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).
Merely because the loan processing charges though paid upfront but amortized over a period of five years, solely to be in consonance with the mercantile system of accounting, deduction of the entire charges in lump sum in the year in which the same were paid could not be denied to assessee.
Admission fees paid to a club towards corporate membership would be a revenue expenditure because it had been incurred wholly and exclusively for the purposes of business and not towards capital account.
ITAT Pune held that income derived from twin land transactions deserves to be treated as ‘business income’ and cannot be treated as ‘capital gains’.
ITAT Delhi held that ‘mark to market’ loss on future and forward contracts are not notional loss of contingent nature. Accordingly, foreign exchange fluctuation loss as claimed by the assessee allowed.
Jharkhand High Court held that Jharkhand Value Added Tax Act, 2005 [JVAT Act] doesn’t have any provision for initiation of re-assessment proceedings against a re-assessment order. In case assessing authority is allowed to initiate repeated re-assessment proceeding merely on dictate of audit party there would be no finality of assessment.
ITAT Chennai held that subsidy received from Government of India under the Focus Market Scheme is Revenue in nature. The same cannot be at any stretch of imagination considered as capital in nature.
Delhi High Court granted the bail to the petitioner (Chartered Accountant) under Prevention of Money Laundering Act 2022 based on the plea of the petitioner that he has acted on the basis of information and records provided by his client.
