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Jul 3, 20242 min read
CBIC Clarifies GST Applicability on Loans Between Related Entities
CBIC’s new circular exempts GST on loans made only with interest or discount, streamlining compliance.
Jul 3, 20242 min read
Clarification on Place of Supply Provisions for Unregistered Persons under IGST Act, 2017
Explore CBIC's latest guidelines on IGST for unregistered persons, ensuring clear tax compliance across varied transaction scenarios.
Jul 3, 20242 min read
CBIC Clarifies Valuation of Imported Services by Related Persons under GST
New GST guidance ensures fair pricing for services, easing compliance and enhancing transparency.
Jul 3, 20243 min read
Expenditure Related to Discontinued Business Not Allowable as Business Expenditure: ITAT, Bengaluru
ITAT rules out deductions for costs tied to defunct ventures, ensuring strict adherence to tax norms
Jul 2, 20243 min read
Clarification on the Taxability of ESOPs, ESPPs and RSUs Issued by Overseas Holding Companies
New CBIC circular exempts GST on ESOPs, ESPPs, and RSUs from overseas firms, unless marked up.
Jul 1, 20243 min read
Ensuring Compliance with S. 15(3)(b)(ii) of the CGST Act: CBIC Issues Clarifications for ITC Reversal Verification
CBIC clarifies ITC reversal on discounts, enhancing GST compliance and reducing disputes.
Jul 1, 20243 min read
CBIC Clarifies Time of Supply for NHAI’s Hybrid Annuity Model Projects
CBIC’s new guidelines simplify tax for NHAI projects, ensuring clear, consistent treatment of HAM contracts.
Jun 27, 202410 min read
Challenges in Implementing Faceless Assessment Under the Income-Tax Act, 1961
Explore the nuanced hurdles of the FA scheme—unveiling the clash with natural justice and the quest for improved taxpayer interaction.
Jun 24, 20244 min read
ITAT Upholds High Sea Sales Transactions as Non-Speculative: Confirms Business Loss Set-off Against Interest Income
ITAT rules high sea sales as non-speculative, affirming business loss offsets against interest.
Jun 23, 20243 min read
Madras High Court Denies Jurisdiction Under A. 226 Due to Non-Compliance with S. 65B of the Indian Evidence Act
Madras High Court rules on digital evidence mismanagement, directing appeal for procedural lapses.
Jun 22, 20243 min read
ITAT Rules Out Additions to Completed Assessment Years in the Absence of Incriminating Evidence
ITAT confirms no tax additions without incriminating evidence, even for statements recorded under s.132(4).
Jun 22, 20244 min read
DCF Method for OCPS Valuation Validated: ITAT Rejects Excess Premium Addition for Shares Issued to Holding Company
ITAT upholds DCF method for OCPS, dismissing Revenue's appeal on excess premium taxability under s. 56(2)(viib).
Jun 19, 20244 min read
ITAT Clarifies Valuation Principles for Non-Cumulative Redeemable Preference Shares
ITAT decision highlights expert valuations' critical role in fair share pricing disputes, setting rigorous evidential standards for AOs.
Jun 17, 202413 min read
Resolving GST Return Mismatch: Strategies for Compliance and Correction
Explore effective techniques to correct GST mismatches, ensuring accurate tax reporting and streamlined compliance.
Jun 17, 20243 min read
A Double-Edged Sword for Appellate Tribunals: Kerala HC Rules that Non-Prosecution Is No Ground for Dismissal
Kerala HC mandates ITAT to consider appeals on merits, enhancing fair adjudication.
Jun 15, 20244 min read
GAAR Prevails Over SAAR: Telangana High Court Reaffirms Substance Over Form in Tax Avoidance Cases
Telangana HC rules: Tax schemes must show real economic activity, not just legal formality.
Jun 15, 20243 min read
[Madras HC] No Embargo on the Inspecting Officer to Issue SCN and Adjudicate the Matter under the GST Act
Madras HC rules proper officers under GST can issue SCN and adjudicate disputes, dismissing bias claims in Rasathe Garments case.
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 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, 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.