Search
Bombay HC Exempts Directors from Income-tax Liability in Company Dues [Prakash B. Kamat v. PCIT]
[Bombay HC] Income-tax dues of a company cannot be recovered from the Director merely because of his directorship in a company. The...
Jul 1, 20233 min read
Provisional Attachment: 1-Year Limit on Bank Account Freeze - Bharat Parihar v. State of Maharashtra
[Bombay HC] Provisional attachment of a bank account cannot continue after the expiry of a year from the date of the original attachment....
Jun 30, 20233 min read
The Need for Corporates to Have an Anti-Bribery/Anti-Corruption Policy
This article presents the pressing need for corporates to establish an anti-bribery/anti-corruption policy in today's global business...
Jun 27, 20239 min read
NFRA issues clarifications on Statutory Auditors’ Responsibilities in relation to Fraud in a Company
The National Financial Reporting Authority ( “NFRA” ) issued a circular dated 26th June 2023, to the auditors of the entities regulated...
Jun 27, 20233 min read
ITAT Upholds Disallowance On Bogus Purchases
Introduction In Silmohan Gems Pvt. Ltd. v. DCIT [i] , the ITAT upheld the disallowance of purchases computed at 5% of the purchases and...
Jun 26, 20233 min read
'Control’ under the new FEMA Overseas Investment regime
Regulating outward investments by Indian residents has been an area of contention under the foreign exchange laws of India. More so, such...
Jun 23, 202311 min read
No Addition Can Be Made in the Absence of Incriminating Material Found During the Search
Introduction The case of Manjeet Kaur Saran v. ACIT [i] involves a search and seizure operation conducted by the Income Tax Department....
Jun 20, 20233 min read
[ITAT – Delhi] Re-Assessment Order Passed Against a Non-Existent Entity is Void Ab Initio
Introduction Income Tax Appellate Tribunal – Delhi (‘ITAT’) in the case of S.S.S Glass Pv.t Ltd. v. ITO [i] , quashed the reassessment...
Jun 19, 20233 min read
[Supreme Court] Permitting the Presence of an Advocate During Interrogation at a Visible but Not Audible Distance
SC affirms advocates can watch interrogations at a distance, balancing law enforcement with rights protection.
Jun 16, 20233 min read
Restoration of Property attached or confiscated under PMLA: An Overview
The article presents a comprehensive overview of the provisions and procedures pertaining to the restoration of properties that have been...
Jun 15, 20238 min read
Efficiency and Simplicity in Fast Track Mergers: Exploring the Impact of Recent MCA Amendments
Introduction to Fast Track Mergers: The Ministry of Corporate Affairs (“MCA”) introduced the new concept of Fast Track Merger (“FTM”) ...
Jun 15, 20236 min read
[ITAT-Delhi] Addition Under S. 68 of the Income-tax Act Was Deleted as the Assessing Officer Found No Incriminating Material
Introduction The Hon’ble Income Tax Appellate Tribunal – Delhi (‘ITAT’) ACIT, Central Circle – 19 v. KRBL Foods Ltd [i] . , upheld the...
Jun 15, 20233 min read