GST
Income Tax
Why Indian Businesses Are Urging Tax-Neutral Demergers Ahead of Budget 2026–27 ?
As the Union Budget 2026–27 draws closer, one issue has quietly gained significant traction among India’s largest business houses, tax professionals, and corporate advisors:the need to make demergers tax-neutral, especially when they involve strategic...
Income Tax
Can Agricultural Income of ₹1.44 Crore Be Rejected Based Solely on Online Yield and Price Estimates?
High agricultural income cases often attract scrutiny, especially when the declared figures appear significantly higher than broad market estimates. But can the Revenue discard such income without disproving the evidence furnished by the taxpayer?...
Income Tax
How HUF Gift to Member is Exempt Under Section 10(2) of the Income-tax Act
Gifts from a Hindu Undivided Family (HUF) to its members often trigger confusion, especially when Assessing Officers try to apply section 56(2)(vii) to tax such receipts. However, the law is clearer than it seems....
GST
Can a manufacturer claim Input Tax Credit (ITC) on transmission-line assets installed outside the factory premises
Facts of the case:
The applicant, Alleima India Pvt. Ltd., operating a manufacturing plant in Gujarat, expanded production capacity and required enhanced power supply.
To meet the requirement, the company laid an underground cable line from a substation of Gujarat Energy Transmission...
Income Tax
Can Netflix India be treated like Netflix’s global brain?
In the last few years, India’s tax authorities have increasingly questioned how digital businesses operate within the country. But few cases captured the industry’s attention like the one involving Netflix India.
What started as...
Company Law and IBC
CAs Gain Equal Recognition for ITAT Appointments
The Institute of Chartered Accountants of India (ICAI) recently celebrated a landmark judgment by the Supreme Court of India that marks a significant win for Chartered Accountants in the legal and tax professions. On...
Income Tax
Does Section 115BAA Override Special Tax Rates?
The central issue before the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) in Maharishi Education Corporation (P.) Ltd. vs. ITO was:
Whether a company opting for the concessional tax regime under Section 115BAA is required to pay tax...
Income Tax
Can a PCIT introduce new issues in a Section 263 order without mentioning them in the Show Cause Notice?
1. Issue
The central issue before the Income Tax Appellate Tribunal (ITAT), Delhi Bench ‘B’, was whether the Principal Commissioner of Income Tax (PCIT) validly exercised revisionary jurisdiction under Section 263 of the Income-tax Act, 1961, when:
The PCIT travelled beyond the scope of the...
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