GST
Rule 31D under GST: MRP-Based Valuation Explained (Effective 1 February 2026)
The GST valuation framework has witnessed a significant shift with the insertion of Rule 31D of the CGST Rules, 2017, notified vide Notification No....
Income Tax
Section 54 is about Intent, Not Brick-by-Brick Completion
Tax law often forgets one thing: real life doesn’t move at the speed of statutes.Construction approvals get delayed. Plans change. Timelines slip.
The Kolkata Bench...
Latest Articles
Income Tax
Why India Needs Joint Taxation in Budget 2026 ?
In India, marriage changes almost everything social status, financial responsibilities, lifestyle choices.
Except one thing.
Income tax.
Even after marriage, the tax system continues to treat spouses...
Income Tax
When Evidence Speaks Louder Than Technicalities: A Clear Message on Section 68 and Rule 46A
Tax litigation often turns not on facts, but on procedure.This recent ITAT ruling cuts through that noise and delivers a simple, powerful message: genuine...
Income Tax
No Tax Exemption for Tiger Global on Flipkart Stake Sale
The Supreme Court’s decision in the Tiger Global–Flipkart case is not just another capital gains dispute. It is a watershed moment in India’s international...
Income Tax
Gujarat High Court Clarifies: Section 147 and Section 153C Cannot Be Used Interchangeably
Background: Why this Case was Important~
Under the Income-tax Act, the department has different provisions to reopen or reassess income. Two such provisions are:
• Section...
GST
ITC Cannot Be Denied for Supplier Default!
Tripura High Court Protects Genuine Taxpayers
Input Tax Credit (ITC) is the backbone of the GST framework. For businesses, it is not an incentive—it is...
Articles
Section 54 exemption was allowed even with ₹0 invested in Capital Gain Account Scheme.
Section 54 is a beneficial provision intended to encourage investment in residential housing by granting exemption from LTCG tax. However, taxpayers often face disallowance...
Company Law and IBC
How Binny Bansal lost DTAA protection despite moving abroad ?
The Income Tax Appellate Tribunal (Bengaluru Bench) rejected Binny Bansal’s claim of non-resident status for AY 2020–21, denying him benefits under the India–Singapore DTAA.
Despite...
Top News
How does ₹6 crore of foreign funds trigger ED action?
The Enforcement Directorate conducted searches on premises linked to an NGO run by climate activist Harjeet Singh and his wife.
The probe relates to foreign...
LATEST NEWS
"Ready to share your unique voice through blogging?"
Write an Article
+91 97234 00220
support@counselvise.com