From Published Accounts

The Accounting Dilemma of Extended Producer Responsibility: Indian Battery Waste Regulations

The Importance of a Risk Assessment Framework in Corporate Social Responsibility

Cybercrime: Threats, Warning Signs, And Practical Remedies

Fast-Track Mergers in India: Recent Amendments

SEBI’s 2025 Overhaul: A New Era for Related Party Transactions in India

Allied Laws

Company Law

Fast Tracking Mergers

Alternative Investment Framework for Mobilising Private Capital

Disallowance of Chapter via – Part C Deductions U/S 143(1) In Case Of Belated Return

Capital Gains — Immovable Property — S. 50C — Sale of immovable property at or above Stamp Duty Value (SDV) — Subsequent increase in SDV — SDV at the time of agreement to sell has to be considered — Subsequent increase in SDV at the time of execution of Sale Deed not to be considered — Proviso to section 50C applicable retrospectively.

Charitable purpose — Exemption u/s. 11 and 12 — Disqualification for exemption where activities in the nature of trade or business carried out — Income from ticket sales by organizing dance events and food stalls — Decision of court in favour of assessee in appeal for earlier assessment years on identical facts and circumstances —Held that organizing cultural events did not constitute business activity to deny exemption and dismissed the appeal filed by the Department.

Charitable Institution — Exemption u/s. 10(23C)(iv) — Assessee a Institution for promoting trade, commerce and industry — Rejection of application for exemption invoking s. 2(15) for A. Y. 2014-15 — Appeal pending against rejection order — On similar facts and circumstances Tribunal granted exemption u/s. 10(23C)(iv) to assessee for A. Y. 2016-17 and 2017-18 — Matter remanded to the Tribunal for reconsideration — Not challenging order of rejection for A. Y. 2013-14 is assessee’s discretion.

Miscellaneous Application — Mistake apparent on record — S. 254(2) — Appeal of the assessee was allowed by the Hon’ble Tribunal on the basis of the judgment of the High Courts prevailing at that time — Subsequently, the Hon’ble Supreme Court reversed the view taken by the High Courts — Subsequent decision of the Hon’ble Supreme Court cannot be the basis to invoke section 254(2).

Penalty u/s. 271(1)(c) — Addition made on the basis of ad hoc estimate — No clear finding that there was concealment of income or furnishing of inaccurate particulars of income — Penalty u/s. 271(1)(c) cannot be imposed.

Refund — Denial on the ground that TDS not reflected in 26AS — Responsibility of the AO to verify from Form 16A — Taxpayer should not be at the mercy of an officer who delays the payment of genuine refund — Assessee is entitled to refund after verification of Form 16A certificates.

Section 119(2)(b) – Application for condonation of delay in filing Form No. 10B – the delay was neither deliberate nor mala fide but was on account of inadvertence of the accountant of the auditor – technical lapse.

Section 254(2) – Rectification – Miscellaneous Applications before ITAT – ITAT the last fact finding authority under the Act – Non consideration of the judgments, which, at least prima facie were relevant, would certainly amount to a mistake apparent from the record.

A private trust set up for identified persons is entitled to claim exemption under section 54F upon investment of proceeds into a residential house.

Where the assessee-charity accumulated income under section 11(2) by filing Form No. 10 mentioning the purpose as “for objects of the trust”, the vagueness of purpose would not be fatal to the claim of benefit under section 11(2) if the assessee supported the claim with a Board resolution listing the specific purpose as “scholarship (educational purpose)” and the funds were actually utilised for the said purpose in subsequent years.

Article 12 of India-USA DTAA – Broadcasting Right is a separate right from copyright, and consideration received towards live feeds cannot constitute royalty.

Article 5 of India-Ireland DTAA – If the core activity of assuming risk related to reinsurance was undertaken outside India, the non-core activities undertaken by an affiliate in India cannot constitute DAPE.

The Regulatory Conundrum: Balancing Control and Freedom in a Globalized Economy

From The President

Goods And Services Tax

Recent Developments in GST

Eligibility of LLCs to Claim Benefit under A Tax Treaty

Why Lord Shiva Drank Poison!

ICAI and Its Members

Super – Bakasur

Miscellanea

Regulatory Referencer

Learning Events at BCAS

Tech Mantra