Insights & Resources

Explore the ITAT's decisive ruling on tax exemptions for penny stock gains. A critical look at legal complexities.

The Liberalized Remittance Scheme (‘LRS’) established by the Reserve Bank of India (‘RBI’) facilitates fund remittance by resident...

Supreme Court stresses timeliness in rejecting a delayed tax appeal, underscoring legal punctuality's importance.

Introduction In a landmark judgment, the Rajasthan High Court bench at Jaipur (‘the Court’) pronounced a pivotal decision in Bijendra...

ITAT confirms: Oral agreements are as valid as written ones for immovable property sales under s. 43CA, ensuring fairness in tax assessments

Introduction The Supreme Court (‘SC’) in the case of Principal Commissioner of Income Tax v. Indusind Bank Ltd.[i] dismissed the special...

Rajasthan HC rules on timely asset release in ED seizures, stressing legal compliance and efficiency.

Introduction The Calcutta High Court (‘the Court’) recently rendered a decision in the case of Diamond Beverages (P.) Ltd. v. Assistant...

Delhi HC sets a precedent on s. 263 jurisdiction: AO orders must be both erroneous and prejudicial to the revenue to be considered valid.

Introduction The Central Board of Direct Taxes (‘CBDT’) has notified the Income-tax (Twenty-Ninth Amendment) Rules, 2023 [ i ] ...

Introduction The Supreme Court ( ‘SC’ ) in C.C., C.E. & S.T. Bangalore v. Northern Operating Systems (P.) Ltd (‘NOS’) [i] addressed the...

ITAT rules on fair notice in Net Agri Co. v. Tax Officer, stressing procedural fairness in tax law.

Introduction Justice Ravindra Bhat of the Supreme Court has delivered a landmark judgment in AO Circle v. Nestle SA [ i ]  on the...

Introduction The recent notice dated 14.11.2023 provides a comprehensive summary of important aspects concerning the reversal of input...

Introduction The Income Tax Appellate Tribunal ( ‘ITAT' ), Delhi Bench, recently rendered a significant decision in the case of DCIT v....

Introduction The Goods and Services Tax ( ‘GST’ ) Amnesty Scheme for filing GST Appeals was notified [i]  by the Central Board of...

Introduction In the case of Rakesh Janghu v. Union of India [i] , the Hon’ble Punjab & Haryana High Court ( ‘the Court’ ) disposed of a...

In the case of Designers Point (India) P. Ltd. v. ACIT, New Delhi[i], the Income Tax Appellate Tribunal – Delhi (‘ITAT’) allowed the...

Introduction In the matter of M/s Adim Jati Seva Sahkari Samiti Maryadit v. The Income Tax Officer – 2, Korba[i], the Income Tax...

ITAT rules on proper tax base for charities, stressing net income and registration impacts.