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Jun 13, 20243 min read
SEBI's Latest Update: Enhanced Standards for AML and CFT Compliance
SEBI sets robust AML & CFT benchmarks, mandating rigorous client verification and record-keeping protocols.
Jun 13, 20243 min read
Karnataka High Court Quashes Disproportionate Assets Case Due to Anti-Corruption Bureau's Procedural Lapses
Karnataka HC finds procedural flaws in ACB’s handling of the case of an asset, leading to the quashing of charges.
Jun 12, 20247 min read
The Kerala HC Allows Relaxation in Time Limits to Claim ITC
Kerala High Court confirms extended deadline for ITC claims boosts GST compliance.
Jun 12, 20242 min read
Supreme Court Directs Manish Sisodia to Revive Bail Application After Charge Sheet Filing
Exploring SC's nuanced decision on Sisodia's ongoing bail saga, focusing on procedural diligence and rights.
Jun 11, 202410 min read
Applicability of CSR Provisions to S.8 Companies
Explore the nuanced role of CSR in non-profit sectors, highlighting the specific obligations and exemptions for S.8 companies under CA13.
Jun 11, 20243 min read
ITAT Ruling Clarifies Taxability of Technical Services Under India-Thailand DTAA
ITAT sheds light on Denso's 2020 tax debate, highlighting the DTAA's intricate details.
Jun 11, 20243 min read
NCLT Clarifies Role and Conduct of Resolution Professionals in Insolvency Proceedings
NCLT ruling emphasizes RP's consultative role, not extending to additional consultants or decisions beyond debtor guidance.
Jun 10, 20249 min read
Modernizing Justice: India’s Ambitious Leap in Legal Reform
Explore India's bold legal reforms aimed at enhancing justice and transparency, set to transform its criminal justice system from 2024.
Jun 10, 20244 min read
Delhi HC Clarifies Tax Treatment of Voluntary ESOP-Related Payments: Disinvestment Compensation Not Salary Perquisite under S. 17
Court ruling redefines tax norms for ESOP payouts, marking a significant shift in handling voluntary compensations.
Jun 10, 20243 min read
NCLAT Validates Ex-Post Facto Approval in Liquidator’s S. 7 Applications Under S. 33 of the IBC
Landmark NCLAT decision affirms key procedural mandates for liquidators, safeguarding creditor rights.
Jun 10, 20244 min read
Himachal Pradesh HC Upholds Assessee's Choice of Valuation Method and Clarifies Non-Applicability of Section 56(2)(viib)
HC rules on taxpayer discretion in share valuation, affirming the non-applicability of s. 56(2)(viib) for equity conversion.
Jun 9, 20242 min read
ITAT: Royalty Payments In Consonance with RBI Guidelines Exempt from TP Adjustments
ITAT affirms proper ALP analysis shields royalty payments from undue tax adjustments.
Jun 8, 20242 min read
Accused Under PMLA Can Travel Abroad Without Restrictions If the Nature of His Profession Requires International Travel
Bombay HC ruling supports work-related global travel for PMLA cases, balancing legal oversight with career needs.
Jun 8, 20246 min read
CBIC Invites Stakeholders’ Feedback on the Draft Central Excise Bill 2024
Explore how CBIC’s draft bill redefines excise duties, aiming for a streamlined system and modern compliance. Feedback deadline: 26.06.2024
Jun 8, 20244 min read
Mechanical Addition of Murder Charges to Dowry Death Incidents Illegal: Allahabad HC
Allahabad HC rules that s. 302 of the IPC cannot mechanically replace s. 304B of the IPC in dowry death cases without proper evidence.
Jun 8, 20243 min read
IBC Prevails: ITAT Upholds IBC Over Income Tax Act in Liquidation Cases
ITAT rules IBC over ITA during liquidation, ensuring procedural fairness.
Jun 8, 20243 min read
Allahabad HC Refuses Bail to Udhaw Singh in Money Laundering Case
AHC denies Udhaw Singh bail, finding prima facie proof of money laundering despite his claims.
Jun 8, 20243 min read
Appellate Tribunal SAFEMA Affirmed Penalties under FERA Despite Acquittal in the Prosecution Case: Held No Right to Cross-Examination in Quasi-Judicial Proceedings
SAFEMA upholds FERA penalties, denying witness cross-examination despite prior acquittal.
Jun 8, 20244 min read
Delhi High Court Grants Immunity, Quashes S. 270A Penalty Notices for Vague Allegations
DHC ruling clarifies tax penalties, enhancing fairness in assessing under-reported incomes.
Jun 8, 20243 min read
Revenue v. Notional: ITAT Upholds ESOP Expenses as Business Deductions under S. 37(1) of the IT Act
ITAT confirms: ESOP costs are legit tax deductions, backing robust documentation and legal precedents.