The dispute concerned the head of taxation for interest received on enhanced land compensation. The Tribunal ruled that Section 28 interest is an accretion to compensation and cannot be assessed as ...

The ITAT held that cash expenditure cannot be disallowed merely by aggregating payments. Since no payment to any person on a single day crossed the statutory limit, the disallowance was ...

The issue was whether the Assessing Officer could invoke section 68 in a limited scrutiny case focused on share premium under section 56(2)(viib). The Tribunal held that, without mandatory approval to ...

The case examined the correct tax rate for a trust formed exclusively for employees’ benefit. The Tribunal held that such trusts are taxable at normal AOP rates under section ...

The new labour framework mandates restructuring of wages to ensure basic pay and dearness allowance form at least half of remuneration. This mainly affects fixed-term and contract workers, while ...

GSTN has made Table 3.2 of GSTR-3B non-editable with auto-population from GSTR-1/1A/IFF. The update ensures consistency in inter-State supply reporting and restricts corrections to prescribed ...

The Tribunal clarified that disallowance under Section 14A is not warranted when sufficient interest-free own funds are available, reinforcing limits on Rule 8D ...

Courts are increasingly questioning whether all homebuyer claims qualify as financial debt. The key takeaway is a shift toward transaction-based scrutiny rather than automatic ...

The Tribunal rejected estimated additions based on alleged circular trading due to lack of seized material or cash trail. The key takeaway is that suspicion and presumptions cannot replace evidence in ...

Appeals were dismissed earlier as time-barred despite sustained efforts by the assessee through grievances. The Tribunal ruled that absence of negligence and bona fide conduct warranted condonation of ...

The draft norms link dividend payouts by Payment Banks to their Tier 1 capital ratios and overall capital adequacy. Only well-capitalised banks with sustainable profits can distribute dividends, ...

This explains the legal framework governing insolvency filings before the NCLT. The key takeaway is that strict procedural compliance and proof of default are critical for ...