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Vedanta Limited Demerger Disclosures
Capitalisation of Borrowing Costs: Foreign Exchange Gains and Losses under Ind AS 23
Beyond SEO: Why Chartered Accountants Must Prepare For The GEO Era
Five Years of AIS TIS: From Nudge to Notice!
Materiality: A Sustainability Perspective
Consolidation of Section 8 Company With The Sponsor Company
Death with Dignity: Directives
Non-Tariff Barriers: The New Face of Protectionism
Mumtaz Ahmad Shah v. Chief Executive Officer, SRA : Eviction order implementation is a statutory obligation of the competent authority, and lack of enforcement machinery is no defence.
Chaitanya Suresh Kambli v. State of Maharashtra : Removing an auditor from the empanelment panel lacks statutory power for permanent debarment, violating their constitutional professional rights.
Mahinder v. Puran Singh : Parliament possesses legislative competence to enact preferential rights of co-heirs for agricultural land under Hindu succession entries.
Sanjay Sharma v. Krishnadhan Khaware : Disputed limitation issues for probate applications cannot be decided summarily as the right to apply is a continuous right.
Duliram Maurya v. Nandram: Prolonged and unexplained delay in depositing balance consideration under a specific performance decree disentitles the purchaser to time extension.
Ruma Mehta & Ors v. Parorch Developers LLP : Allotment letters with clear property descriptions and payment schedules constitute valid contracts, enforceable retroactively under the RERA Act.
Wadhwa Group Housing Private Ltd. v. Vijay Choksi and Ors.: Multiple promoters are jointly liable for refunds under section 18, regardless of direct privity of contract with the allottee.
Raipur Development Authority v. Anup Kumar Sahu : Allottees have an unconditional right to refund for possession delays, even without formal contracts specifying the target completion date.
M/s. R. R. Builders v. Nandkumar Mulani and Anr : Tribunals may impose a reasonable three-year completion timeline when allotment letters fail to specify the date of possession.
Rafeek Peedi Yakkal Hassan v. Registrar of Companies : Striking off a company name is reversed if the director provides audited financial statements proving ongoing resort project operations.
Dr. Bais Surgical And Medical Institute Pvt. Ltd. v. Dhananjay Pande : Formal entry in a company’s register is not an absolute prerequisite for a person to seek oppression relief.
IBC Acts As a Shield against Cheque Bouncing Proceedings – Fact or Myth?
Margin Trading Facility (MTF): Evolution, Existence and the Future Of Leveraged Investing In India
Rebate and Capital Gains
DIT v. Star Cruises (India) P. Ltd. : Providing cruise services with on-board entertainment and de-boarding options falls within the meaning of carriage under shipping presumptive taxation.
Rajesh R. Hemrajani v. ITAT :The High Court directed the ITAT to deliver judgment within 90 days as mandated by Rule 34 of the Rules.
BCCI v. ACIT : The Tribunal exceeded its jurisdiction by ruling on the merits of a non-statutory “advisory” communication after declaring the appeal unmaintainable
Dinar Tarcar Resources (India) Pvt. Ltd. v. ACIT : Prosecution for tax evasion is unsustainable if delay in payment was due to a business ban and lacks guilty intent.
Capgemini Technology Services India Ltd. v. Dy. CIT : High Court has jurisdiction if consequences of demand are felt within its territory; non-existent or unserved demands are unsustainable.
Bipinkumar Girdharlal Parekh v. ACIT : Reopening assessment based on search-related material is invalid if initiated beyond three years for income escapement under fifty lakhs.
PCIT v. Ansal Phalak Infrastructure Pvt. Ltd. : Addition under section 68 cannot be made when the assessee produces sufficient evidence to prove the genuineness of foreign investment.
PCIT v. Essar Agrotech Ltd. : Share capital and premium additions under section 68 are unsustainable where the identity, creditworthiness, and transaction genuineness are proved.
Vidhya Vivek Padgaonkar v. ITO: Receipts from educational content assignments constitute professional income under section 44ADA, not business receipts eligible for presumptive taxation under section 44AD.
Hemant Kumar Agrawal v. ITO : Partner’s remuneration from a firm cannot be treated as turnover or gross receipts to qualify for presumptive taxation under section 44ADA.
Sanchit Gupta v. DCIT : No liability for higher TDS applies if the system fails to flag an inoperative PAN, provided the seller paid taxes
Rajesh Shamji Furia v. ITO : The Tribunal held that a flat acquired under a development agreement qualifies as a long-term asset, allowing section 54 exemptions.
Amaltash Residents Welfare Association v. CIT(E): Exclusive member-only maintenance activities are governed by mutuality and do not constitute a charitable purpose under section 12AB.
Hotel Mahalaxmi v. ITO : Notional revaluation of leasehold rights by book entry without new investment cannot be added as unexplained investment under section 69.
Consolidated Finvest and Holdings Ltd. v. DCIT : Referring valuation under general provisions instead of section 50C(2) denies the department the time-limit extension under section 153.
Shreyas Naynesh Modi v. ITO : The ten percent safe harbour limit applies to the fair market value determined by the Valuation Officer under section 56(2)(x).
Combine Diamonds (P.) Ltd. v. ACIT : Initiating assessment before furnishing recorded reasons and denying the opportunity to file objections renders the reassessment void ab initio.
Goldman Sachs International vs ACIT (IT) : Salary reimbursement paid for seconded employees on a cost-to-cost basis is not fees for technical services under India-UK DTAA
ITO vs. Tata Industries Ltd : A payer cannot be treated as in default for not deducting tax based on subsequent retrospective indirect transfer tax amendments.
Listening
From The President
Section 16(2)(C) Of The CGST Act
Recent Decisions In GST
Recent Developments in GST
The Courage to Walk Alone
ICAI and Its Members
The Taxpayer’s Long Wait For An Order Giving Effect
Yes. I am Independent!
Miscellanea
Regulatory Referencer
Society News
Tech Mantra
