The FAQs clarify how the 50% wage rule increases gratuity and leave liabilities and why these changes must be treated as past service costs under accounting standards.
This piece explains how genuine businesses are often accused of fake invoicing because suppliers fail to comply with GST filings. The key takeaway is that supplier default alone does not legally justify branding transactions as fake.
The Tribunal ruled that penalty under Section 271A cannot be levied merely because books were rejected and income was estimated. Since audited books were available, there was no failure to maintain accounts.
The Tribunal ruled that interest cannot be claimed under Section 36(1)(iii) when business use of the property is not proved, reinforcing the “put to use” requirement.
The Tribunal held that GST-related claims not included in an approved insolvency resolution plan lapse, protecting the resolution applicant from past, unquantified liabilities.
The court ruled that withdrawal of a murder prosecution lacks legal basis when evidence is yet to be tested. It held that serious crimes are offences against society and must proceed to trial regardless of government policy considerations.
Explains when home-loan interest can be added to the cost of acquisition and how the AY 2024-25 amendment blocks double benefits. Key takeaway: unclaimed pre-construction interest may still matter for earlier years.
Delhi GST allows taxpayers to correct past ITC denials caused solely by Section 16(4) time limits, applying Section 16(5)/(6) via a special rectification procedure.
Parliament abolished compulsory probate to eliminate delays and costs, allowing heirs to enforce wills without mandatory court proceedings.
Explains why statements recorded during investigative summons carry evidentiary value and how careful handling can prevent escalation into prosecution.
