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Direct Tax
Whether Issuance of Bonus Shares Is Taxable Income? Supreme Court to Examine
The Supreme Court has agreed to hear a significant tax issue that could have...
Direct Tax
Income Tax Dept. Doesn’t Trust Even Its Lawyers: Supreme Court
The Supreme Court has pulled up the Income Tax Department for its “unnecessarily long...
Direct Tax
Supreme Court Strikes Down 25-Year Experience Rule for CAs Seeking ITAT Membership
The Supreme Court has formally inserted additional paragraphs into its November 19 judgment in...
Direct Tax
TDS on Payments to Non-Residents Can’t Exceed 10% Under DTAA: Supreme Court
The Supreme Court has held that tax deducted at source (TDS) on payments made...
Direct Tax
Supreme Court Slams Income Tax Dept For ‘Frivolous’ SLP, Warns Against Repeated Filings On Settled Issues
The Supreme Court on Friday dismissed yet another Special Leave Petition (SLP) filed by...
Direct Tax
PIL “Misconceived”; Affirms Municipal Bodies’ Power To Revise Taxes After 16 Years: Supreme Court
The Supreme Court while call the Public Interest Litigation (PIL) ‘misconceived’, affirmed the power...
Direct Tax
Supreme Court Clarifies On Income Tax Deduction of Head Office Expenses by Foreign Companies
The Supreme Court clarified the scope of deductions available to non-resident entities for expenses...
Direct Tax
Supreme Court Stays HC’s Direction to Implead Income Tax Authority in Bail Matter
The Supreme Court has stayed the operation of a Rajasthan High Court order that...
Direct Tax
Shares Received on Amalgamation Are Taxable as Business Income If Held as Stock-in-Trade: Supreme Court
The Supreme Court has held that the shares received on amalgamation are taxable as...
Direct Tax
Supreme Court Rules Tiger Global’s Flipkart Exit Taxable in India, Flags Impermissible Tax Avoidance
The Supreme Court on Thursday held that capital gains arising from Tiger Global’s exit...
Direct Tax
Supreme Court Directs PIL Petitioner to ‘Place on Record Income-Tax Returns for the Last 5 Years’ Before Considering Costs
In a significant order underscoring its intolerance towards frivolous public interest litigations (PILs), the...
Direct Tax
CBDT Clarifies: Past Tax Assessments to Remain Closed After Supreme Court’s Tiger Global Ruling
In a move aimed at preserving investor confidence and ensuring certainty in tax administration,...
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Notification
ICAI Releases Revised Handbook on Job Work Under GST [DOWNLOAD NOW]
The Institute of Chartered Accountants of India (ICAI), through its GST & Indirect Taxes...
GST
Court Can’t Direct Extension GST Return Deadlines or Waive Interest and Penalties: Karnataka High Court
The Karnataka High Court has held that courts cannot direct GST authorities to permit...
Direct Tax
Advisory Services Without Transfer of Technical Knowledge Not Taxable as FTS Under India-UAE DTAA: ITAT
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has held that payments...
Direct Tax
Income Tax Dept. Drops S. 272A(1)(d) Penalty Citing Genuine Medical Reasons
The Income Tax Department has dropped penalty proceedings initiated under Section 272A(1)(d), holding that...