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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 2, 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
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, 20247 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
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.
Jun 10, 20244 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 9, 20243 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, 20246 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
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, 20244 min read
Revenue v. Notional: ITAT Upholds ESOP Expenses as Business Deductions under Section 37(1) of the IT Act
ITAT confirms: ESOP costs are legit tax deductions, backing robust documentation and legal precedents.
Jun 8, 20243 min read
ITAT Upholds Eligibility of CSR Donations for Tax Deductions under S. 80G of the Income-tax Act
ITAT rules CSR donations qualify for tax relief under Section 80G, affirming procedural fairness and legislative intent.
Jun 6, 20244 min read
Guidelines for Initiation of Recovery Proceedings Before 3 Months from the Date of Service of Demand Order
New CBIC guidelines expedite tax recovery in specific cases to optimize revenue and ensure fairness. Effective from 30.05.2024.
Jun 6, 20243 min read
GST: Allahabad HC Quashed the Proceedings Due to Procedural Irregularities in Search Authorization
Introduction In the case of Excellentvision Technical Academy (P.) Ltd. v. State of U.P [i] . at the High Court of Allahabad (‘HC’), the...
Jun 1, 20242 min read
Exemptions v. Deductions: Underlying Philosophy in Tax Laws
Exemptions exclude certain incomes from tax; deductions reduce taxable income. Explore their roles, benefits, and impacts in tax law.
May 23, 20249 min read
Significance of 'Fees for Included Services' in Indo-USA DTAA
Explore how 'Fees for Included Services' shape cross-border tax rules in our latest legal insight on the Indo-USA DTAA.
May 20, 20242 min read
Discrepancy Between Reasons in Notice Under S. 148A(b) and Order Under S. 148A(d) Renders Notice Ineffective and Mere Formality
HC upholds the need for consistent tax notice reasons to ensure fair taxpayer response.
May 18, 20243 min read
Coordinated Investigation and Administrative Convenience: Delhi High Court Upholds Centralization of Cases
Delhi HC upholds centralization of tax cases, highlighting the importance of coordinated investigation and administrative convenience.
May 18, 20244 min read
[AAR – Andhra Pradesh] Compensation Received in Respect of Liquidated Damages Was Taxable under the CGST Act
AAR ruled recovery of liquidated damages as taxable under the CGST Act, impacting contract penalties.
May 18, 20244 min read
Delhi High Court Orders Re-evaluation of Tax Dispute, Stresses AO's Duty to Assess on Merits
Delhi HC asserts AO must weigh merits, not just enforce 20% tax pre-deposits.
May 16, 20242 min read