Income Tax
A Familiar Fear: “If the Tax Credit is there… so where is the Income?”
Every taxpayer has faced this moment.
You open your Form 26AS, You see tax already deducted, And then comes the question from the department:
“If tax was deducted,...
GST
Why prices of Sin goods are rising: GST, Cess and the Real Impact on Consumers
In recent months, consumers across India have noticed a steady increase in the prices of sin goods such as cigarettes, tobacco and pan masala. This has...
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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...
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...
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...
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...
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...
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...
Income Tax
Can “Diary Notings” and “Retracted Statements” Alone Sustain an Addition?
In appellate tax practice, the truth is simple: a case is only as strong as the evidence that supports it.
In a recent landmark decision, the Income...
Income Tax
Can Profit Be Taxed Twice on the Same Bogus Purchase?
When books of accounts are accepted, can the Assessing Officer still tax “profit” on alleged bogus purchases again?
In a recent decision, the ITAT Delhi...
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