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Income Tax
Granting Development Licence Without Possession Not a ‘Transfer’ Under Section 2(47)
Issues Involved
Whether granting license to permit construction of land without giving any possession in land considered as transfer u/s. 2(47)?
Facts of the Case
The assessee entered into a development agreement with a developer in consideration...
Income Tax
Payments to Foreign Attorneys for IP Services Are Professional Fees, and Not FTS
Issues Involved
Whether payments remitted by Indian law firms to an NR foreign attorney towards filing, prosecution and maintenance of overseas intellectual property (IP) matters for Indian clients—are taxable in India as "fees for technical...
Income Tax
ESOP Taxation in Corporate Restructuring: Insights from Flipkart–PhonePe
Introduction:
ESOPs are structured as rights, not obligations, granted by companies to employees to purchase shares at a future date at a pre-agreed price. These rights vest over time and can be exercised upon meeting...
GST
Assignment of Leasehold Rights Equals Sale of Land, Not Liable to GST : Gujarat HC Rules
Issue involved
Whether assignment of leasehold rights qualify as supply of services for the purpose of levy of GST?
Facts of the case
The Gujarat Industrial Development Corporation (GIDC), acts as a nodal agency for the development...
Income Tax
Cadbury’s ₹320 Crore Tax Dispute: When Marketing Meets Transfer Pricing
When we think of Cadbury, the first thing that comes to mind is the purple wrapper and the tagline “Kuch Meetha Ho Jaaye.” But for the Income Tax Department, Cadbury (Mondelez India Foods Pvt...
Income Tax
ITAT Ahmedabad Rules on Section 87A Rebate Against STCG under Section 111A (A.Y. 2024–25)
Introduction
One of the most debated income-tax issues in the current year has been the scope of rebate under Section 87A, particularly in situations where the assessee’s income comprises short-term capital gains (STCG) on listed...
Income Tax
New Thresholds for Perquisites & Medical Benefits – G.S.R. 555(E)
The Ministry of Finance recently introduced the Income-tax (Twenty Second Amendment) Rules, 2025 through Notification G.S.R. 555(E), redefining key thresholds related to perquisites and employer-provided medical benefits. For professionals and salaried employees, this update...
GST
Cabinet Approves Blanket Ban on Online Money Games
In a landmark move, the Union Cabinet has approved legislation imposing a blanket ban on online money games. This decision has sent shockwaves across a ₹27,438 crore industry, impacting startups, unicorns, and listed companies,...
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