From Published Accounts

Taking a Bow

Select Changes in Chapter IV-E Of Income-Tax Act, 2025

Section 16(2)(C) And The Pre-October 2022 Transition: The Unexplored Litigation Window

Expected Credit Loss In India: A Practical Guide

Section 45(5a) Decoded: Balancing Ease of Business And Tax Enforcement (Part I)

Buyback of Vested ESOPs – Salary or Capital Gains?

Bhimrao Meshram v. Ashish Meshram (Bom. HC): Senior citizen receiving regular pension and capable of self-maintenance cannot maintain eviction application against son under law.

Deepak Afle v. Dharam Developers and Finvest Limited (MP HC): Length of delay is not decisive in condonation applications where litigant acted in reliance on advocate advice.

Bhanu Datta Pathak v. Hardutta Pathak (All. HC): Disinheriting natural heir does not invalidate Will executed with statutory attestation without proof of undue influence.

Suo Motu Civil Reference concerning Section 69 of Indian Succession Act (Ker. HC): Automatic revocation of pre-marriage Will upon marriage under Section 69 does not violate constitutional rights or testamentary capacity.

Arcis Clean Energy Pvt. Ltd. v. Parshva Innovation (SC): Juridical seat of arbitration must be determined holistically, establishing court jurisdiction despite multiple venue references.

Directorate of Enforcement v. Bhupesh Arora (SC): Quashing predicate FIR on compromise does not obliterate proceeds of crime or bar PMLA prosecution.

Deep Kumar Rastogi v. Directorate of Enforcement (Del. HC): Look Out Circular cannot be issued routinely merely due to pending investigation without proof of non-cooperation

Khilji Mohsinahmed Mustakali v. Directorate of Enforcement (Bom. HC): Accused facing prolonged pre-trial detention in PMLA case is entitled to bail under speedy trial rights.

Ganton Projects (P.) Ltd. v. Registrar of Companies (NClAT) : Restoring struck-off company name requires rational cost determination, making arbitrary ten-lakh cost disproportionate and reducible

Shailja Krishna v. Satori Global limited (SC) : NCLT possesses statutory jurisdiction to adjudicate corporate fraud and coercion incidental to oppression and mismanagement claims.

Is A Trust A Legal Entity?

Rebuilding the PMS Regulatory Framework – A New Era for Capital Market

Applicability of Section 43CA to Agreements Entered Into Prior To Introduction of the Provision

Orient Crafts Limited v. Commissioner of Income Tax: Revisional jurisdiction under Section 263 was validly exercised as export quota sales premium constitutes non-export income.

Samtex Fashions Ltd. v. Commissioner of Income Tax: Export quota premium receipts do not earn foreign exchange and administrative CBDT circulars cannot override statutory provisions.

Thomson Reuters International Services Private Limited v. AO: Filing modified return under Section 170A following reorganization does not grant Assessing Officer de novo scrutiny.

Bajaj Electricals Ltd. v. ACIT: Initiating fresh scrutiny notice on modified return filed during pending assessment after assessment completion is impermissible.

Farah Khurshed Titina v. ITO: Assessee satisfying statutory conditions is entitled to penalty waiver under Section 270AA following Finance Act amendment.

Kishore Mohanlal Dingra v. ACIT: Adjusting income tax refund against disputed tax demand pending appeal after twenty percent pre-deposit is illegal.

PCIT Central v. Ashoka Buildcon Limited: High Court appellate jurisdiction under Section 260A cannot be invoked unless questions raise substantial, unsettled legal issues.

Pr. CIT – 2 v. Abbott Healthcare Pvt. Ltd.: Non-compete fees paid under business transfer agreement are allowable as revenue expenditure under Section 37(1).

Shyamsunder Pritesh Malode v. ACIT: Penalty notice specifying underreporting in consequence of misreporting is valid despite omitting specific statutory clause

Amita Suresh Shah v. ITO: Penalty levied under Section 271AAC(1) cannot stand where assessment order recorded initiation under Section 270A.

iShares ESG Aware MSCI ETF v. DCIT(IT): Short-term capital loss from STT-paid transactions can be set off first against non-STT-paid short-term gains.

Kunshan Q Tech Microelectronics (India) (P.) Ltd. v. DCIT: Case transfer order passed by Principal Commissioner holding non-corporate charge over corporate assessee is void.

Womens Golf Association of India v. CIT(E): Registration renewal cannot be denied to sports association merely because sponsorship receipts exceeded statutory limit.

Divya Lok Co-Operative Group Housing Society Ltd. v. ITO: Penalty order under Section 271D passed by Faceless Assessment Unit after setting up Penalty Unit is invalid.

Rana Educational Trust v. ITO: Exemption denial under Section 11 does not justify taxing entire gross receipts without deducting legitimate expenses.

Herbert Smith Freehills LLP v. CIT(A): Non-UK partners of UK fiscally transparent firm are entitled to benefits under respective DTAAs with India.

DCIT v. Zoho Corporation: Revenue received for web hosting and cloud services constitutes facility use, not equipment royalty or FTS.

GST Reforms: Are We Treating The Symptoms Or The Disease?

From The President

Recent Decisions In GST

Recent Developments in GST

Gomi Hiroi

ICAI and Its Members

To include only selected categories of professionals u/s 44AA(1) of the Income Tax 1961 [Section 62(1) of the Income Tax Act 2025]

Miscellanea