Income Tax : Learn about taxation on derivatives and F&O transactions, their treatment as business income, audit requirements, and presumptive ...
Income Tax : Explore conflicting rulings on whether bonafide mistakes in disclosing foreign assets under the Black Money Act can avoid penaltie...
Income Tax : F&O traders need to know how their profits are taxed. With the ITR return filing date approaching, it is imperative to know how st...
Income Tax : Explore the impact of Finance Act, 2023, on MSME payment enforcement under section 43B(h) of the Income Tax Act, 1961. Understand ...
Corporate Law : Explore complexities of PMLA bail conditions, their impact on accused, and constitutional concerns. A comprehensive analysis sheds...
Income Tax : The assessee is into development and construction of a project. The case was selected for scrutiny and AO issued notices u/s 142(1...
Corporate Law : It was the case of the appellant that he acquired rights from the respondent in pursuant to the agreement dated 07.09.2006. Proper...
Corporate Law : The Central Government has the power to lay down the principles for taxation on mechanically propelled vehicles by the State. The ...
Corporate Law : On 21.04.2017, a Share Purchase Agreement was executed, wherein the erstwhile Directors sold their equity in favour of Accord Medi...
Corporate Law : Supreme Court held that refund of 100% court fees granted as the amount of court fees involved was not excessive and the dispute w...
Income Tax : Notification No. 8/2020-Income-Tax- CBDT has notified Other electronic modes by inserting New Income TAx Rule 6ABBA. It also amend...
Income Tax : Notification No. 15/2014-Income Tax entral Government hereby notifies the Ace Derivatives and Commodity Exchange Limited, Ahmedaba...
NCLT Ahmedabad held that before commencement of insolvency, the assets of the corporate debtor are stripped many a times by the management. The suspended management conceals the data from RP during CIRP process. Amount directed to be deposited with Corporate Debtor as the transaction is hit by provisions of section 43 of the Insolvency and Bankruptcy Code.
Telangana High Court held that the Registration of a document does not create any title. The action of non-registration of a document under Section 22A of the Registration Act, 1908 does not prevent a person of the right to enjoy his property.
ITAT Delhi held that income from sale of shares/securities/PMS/Mutual Funds, etc. which were held as investment and not as stock-in-trade is taxable under the head capital gains and not under the head business income.
Delhi High Court concluded that Appellate Authority failed to consider the contention of the petitioner that there was no supply of service via-a-vis refund of GST. Accordingly, matter remanded to Appellate Authority.
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 held that as discrepancies in sales figures as well as physical stock not explained, the assessing authority took a fair view in enhancing sales by 10% of net GTO after deducting the stock transfer figure of GTO. Accordingly, levy of tax with interest confirmed.
In the Varadaraja Textiles case, ITAT Chennai ruled that depreciation is allowed for a textile spinning unit acquired through an auction sale, disputing the nil cost assessment.
ITAT Mumbai held that expenditure towards brand reminder, customer gifts, purchase of medical books and journals is not allowable expenditure u/s 37(1) of the Income Tax Act as such expenses are in the nature of free bees and prohibited.
NCLT Delhi held that resolution plan submitted by the Successful Resolution Applicant which was approved by CoC cannot be interfered by Adjudicating Authority. Adjudicating Authority is not empowered to analyse or evaluate commercial decision of CoC.
ITAT Mumbai held that the benefit under section 35(2AB) of the Income Tax Act is also available in respect of expenditure on clinical trials outside the approved in-house R&D facility.
