In a significant ruling that provides clarity on the treatment of client funds handled by professionals, the Income Tax Appellate Tribunal (ITAT), Chennai, in the case of Bose Saravanan Vs DCIT, held that amounts received by a Chartered Accountant exclusively for …
In a landmark ruling that could significantly influence the taxation of startup funding and corporate restructuring transactions in India, the Income Tax Appellate Tribunal (ITAT), Delhi Bench, has granted substantial relief to OYO Hotels and Homes Private Limited by deleting …
In a significant relief for exporters and GST taxpayers, the Bombay High Court has held that a second refund application under Section 54(1) of the Central Goods and Services Tax (CGST) Act, 2017 is maintainable even when an earlier refund …
In a significant ruling with far-reaching implications for infrastructure developers and concessionaires, the Rajasthan High Court has upheld the levy of Goods and Services Tax (GST) on a highway concessionaire operating under a Design, Build, Finance, Operate and Transfer (DBFOT) …
In a significant ruling concerning unexplained cash credit provisions under Section 68 of the Income Tax Act, the Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has held that a lender’s income for a particular assessment year cannot be …
In a significant ruling for charitable and religious trusts seeking income tax exemptions, the Kerala High Court has directed the Commissioner of Income Tax (Exemptions) [CIT(E)] to reconsider the registration claim of Atma Bodhodaya Sangham Sree Subhananda Trust under Section …
In a significant ruling for taxpayers engaged in real estate development, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has granted substantial relief to Shalimar Corp Ltd by allowing 50% telescoping of cash deposits against undisclosed income earned …
In a significant ruling clarifying the legal position relating to contractual employment in government-supported schemes, the High Court of Jammu & Kashmir and Ladakh has held that a contractual employee cannot invoke the constitutional safeguards available under Article 311 of …
In a significant judgment reinforcing procedural safeguards under the Goods and Services Tax (GST) regime, the Allahabad High Court has ordered the immediate release of a taxpayer after finding serious irregularities in the arrest process adopted by GST authorities. The …
In a significant ruling reinforcing the limits of an Assessing Officer’s powers, the Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that an Assessing Officer (AO) cannot make a fresh addition while passing an order merely to …
In a landmark ruling that provides substantial relief to the renewable energy sector, the Jodhpur Appellate Authority under the Goods and Services Tax (GST) framework has held that rooftop Solar Power Generating Systems (SPGS) constitute movable property and cannot be …
In a significant judgment concerning cheque dishonour cases under the Negotiable Instruments Act, 1881, the Kerala High Court has ruled that any alteration in the date of a cheque that is not authenticated by the drawer through a full signature …
In a significant judgment dealing with GST adjudication and Input Tax Credit (ITC) disputes, the Madras High Court has held that a mere typographical error in a Show Cause Notice (SCN) does not automatically invalidate proceedings if the notice, when …
A major development in GST jurisprudence has come from the Bombay High Court, which has held that a corporate guarantee furnished by a holding company to banks on behalf of its subsidiary, without charging any consideration, does not amount to …
In a significant ruling on capital gains taxation, the Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that the execution and registration of a sale deed constitute a completed transfer for the purposes of capital gains tax …
In a significant ruling, the Kerala High Court has clarified an essential procedural requirement under Negotiable Instruments Act, 1881, holding that a cheque dishonour complaint under Section 138 cannot be sustained unless the statutory demand notice explicitly mentions the exact …
In a significant ruling addressing procedural challenges under the GST regime, the Calcutta High Court in Ram Chandra Sahoo v. Union of India and Others granted relief to a taxpayer who was unable to file an appeal electronically due to …
In a significant ruling that clarifies the scope of tax benefits for charitable institutions, the New Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that a trust cannot be denied approval under Section 80G of the Income …
In a significant ruling with far-reaching implications for corporate restructuring and tax planning, the Supreme Court of India has held that an amalgamated company cannot claim the benefit of losses incurred by the amalgamating entity prior to the merger unless …
In a significant ruling that brings clarity to the tax treatment of Common Area Maintenance (CAM) charges, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that such payments are not in the nature of rent and therefore attract Tax …