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Madras High Court: Discretionary ESOP Compensation is Taxable as Perquisite
Madras High Court rules that one-time discretionary compensation for loss in future accretion with respect to ESOPs is taxable as perquisite
Aug 9, 20248 min read
[ITAT] Cash Transactions in Property Sales: Section 271D Penalty Unwarranted, Section 269ST Applies
ITAT finds no penalty warranted under s. 271D for cash transactions in property sales, highlighting the relevance of s. 269ST instead.
Aug 7, 20244 min read
[ITAT] Tax Exemption on Mutuality Grounds Not Applicable to Advocates Welfare Fund
ITAT holds: Advocates Welfare Fund fails to meet mutuality criteria, disqualifying it from tax exemptions under the Income Tax Act, 1961.
Aug 3, 20243 min read
SEBI’s Consultation Paper Proposes Rationalisation of ‘Connected Person’ Definition in Insider Trading Regulations
SEBI refines 'connected person' definition to clarify insider trading rules and boost market integrity.
Aug 3, 20243 min read
Vivad se Vishwas Scheme, 2024: Key Highlights
Resolve tax disputes with the 2024 Scheme, ensuring efficient settlement and full immunity from penalties.
Aug 1, 20245 min read
GST Penalty Case Overturned: Calcutta High Court’s Directive Based on New Information
Calcutta High Court remands GST penalty after new IOCL evidence, questioning the use of Goa's advance ruling in West Bengal.
Aug 1, 20243 min read
Navigating Notional Losses: Punjab & Haryana High Court Clarifies Rules on Carry Forward of Business Losses
The Punjab & Haryana High Court clarifies the treatment of notional losses, allowing the carry forward of losses due to market fluctuations.
Aug 1, 20244 min read
Kerala High Court Upholds Levy of GST on Services by Associations/Clubs to Its Members; However, with Prospective Effect
Kerala HC rules GST on club services to members is valid but only applies prospectively.
Jul 31, 20246 min read
[ITAT – Jaipur] Deletes Additions Made on the Basis of Loose Sheets in the Absence of Corroborative Evidence
ITAT rules against uncorroborated tax additions, emphasising the need for evidence and procedural fairness.
Jul 29, 20243 min read
[High Court – Rajasthan] No Restriction on Filing Advance Ruling Applications for Persons Liable to Pay Tax on Reverse Charge Basis under the CGST Act
Rajasthan High Court affirms that reverse charge taxpayers can seek CGST advance rulings, broadening applicant definitions.
Jul 29, 20243 min read
[Gujarat HC] Reassessment Proceedings Set Aside Due to Jurisdiction Issues and Approval of Resolution Plan under the IBC
Gujarat HC quashes tax reassessment after case transfer and IBC resolution approval, citing lack of AO jurisdiction.
Jul 27, 20243 min read
Rule of Law v. Rule of Men: Chhattisgarh HC Sets Aside Reassessment Orders Due to Influence of Superior Authorities
Chhattisgarh HC rules in favor of assessee; reassessment influenced by superiors invalid.
Jul 26, 20244 min read
SAFEMA: Justification of Property Seizure under Section 37A without Evidence of Non-Contravention
Appellate Tribunal SAFEMA upholds property seizure under section 37A of FEMA, emphasising the minimal threshold for proving contravention.
Jul 26, 20246 min read
Mandatory Notice in GST Adjudications: Madras High Court Clarifies ASMT-10 Requirement
Madras HC rules on the essential use of ASMT-10 in GST disputes, enhancing procedural fairness.
Jul 26, 20243 min read
Pre-Show Cause Notice Consultation Under GST Law
Pre-SCN consultation under GST fosters dispute resolution, aids compliance, and mitigates litigation.
Jul 26, 202410 min read
ITAT, Delhi Holds That Immunity From Imposition of Penalty Is Not Available in the Case of Misreporting
The ITAT Delhi dismissed the appeal, upholding a 200% penalty on misreported income and rejecting immunity under s. 270A.
Jul 20, 20243 min read
Reassessment Without Independent Inquiry Quashed: P&H High Court Clarifies Boundaries Between ED & IT Department
P&H High Court rules on tax reassessment, highlighting need for evidence and clear authority boundaries.
Jul 20, 20244 min read
Right of Cross-Examination Under GST - When Does It Accrue?
Explore when the right to cross-examine under GST accrues and its significance in ensuring justice and procedural fairness.
Jul 19, 20246 min read
The Conundrum of Concurrent Jurisdiction and S. 6(2)(b) of the CGST Act
Exploring s. 6(2)(b) of the CGST Act to prevent dual jurisdiction issues in GST enforcement and tax proceedings.
Jul 17, 202412 min read
Supreme Court Refuses to Interfere in High Court’s Rationalisation of Pandemic Delays in TDS Deposits
SC upholds HC's view that pandemic delays in TDS are 'reasonable cause', averting penalties.
Jul 17, 20243 min read