The issue was whether gains qualify as long-term when shares are bought unlisted and sold post-listing. It was held that the holding period starts from purchase and LTCG under section 112A applies if STT is paid on sale.
While foreign investors appear to be net sellers in Indian markets, the data shows a clear shift toward banking stocks. The key takeaway is strategic sectoral rotation, not an exit from India.
Total income includes capital gains for the ₹5 lakh limit, but the rebate cannot reduce tax on special-rate income. The key takeaway is that eligibility and adjustment operate differently.
The CGST Act clearly covers territorial waters but is silent on EEZ. This raises a serious question on whether mapping EEZ to coastal States is legally sustainable.
The Companies Act, 2013 limits immunity for non-executive directors by linking liability to knowledge and diligence. Courts now require active oversight rather than passive board membership.
This piece explains how automated GST and income tax reforms are reshaping taxpayer compliance. The key takeaway is that technology now closely monitors filings, making accuracy essential.
The Court ruled that “sufficient cause” must explain the entire limitation period, not just post-expiry delay. Negligence or inaction, including by government bodies, cannot justify condonation.
The court held that Section 74 cannot be used unless fraud, wilful misstatement, or suppression with intent to evade tax is specifically alleged and proved. In the absence of these ingredients, the entire GST proceeding is without jurisdiction and must fail.
Authorities have clarified that compulsory service charges violate consumer law, reaffirming that tips must be voluntary and cannot be added by default to bills.
Capital gains exemptions on property sales often lead to litigation due to Section 54 timelines and unclear date of transfer in transactions.
