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FAQs on key accounting implications arising from the New Labour Codes, New Labour Codes (2025): Key Accounting Implications on Gratuity, Leave Obligation, Interim Reporting, Exceptional Item Presentation & Tax Treatment under Ind AS / Indian GAAP
FAQs on key accounting implications arising from the New Labour Codes
The Government
of India has recently consolidated 29 existing labour legislations into a
unified framework comprising fou...
Delhi HC: Revenue Appeal Maintainable Despite Low Tax Effect Due to Accommodation Entry Exception; Reassessment Quashed for Invalid Section 151 Approval | Pr. CIT-1 v. Agroha Fincap Ltd. (2025)
Delhi
High Court:-Pr. Commissioner of Income Tax – 1 VersusM/s
Agroha Fincap Ltd.ITA
No. 60/2024 | Judgment
dated: 23 December 2025 CORE
ISSUE:-Whether the appeal filed by the Revenue before the High Court wa...
Registration of Legal Heir / Representative Assessee on the Income-tax e-Filing / ITBA Portal Procedure, Documentary Requirements and Indemnity Format
Registration of Legal Heir /
Representative Assessee on the Income-tax e-Filing / ITBA PortalProcedure, Documentary Requirements and
Indemnity Format 1. IntroductionWith the progressive digitisation of
income-tax...
Government Rehabilitation Subsidy Held Capital Receipt: Purpose Test Applied | Dharmapuri District Co-operative Milk Producers Union Ltd. v. DCIT (Madras HC, 2025)
Government subsidy under rehabilitation scheme, a capital receipt not revenue receipt; Purpose test to be appliedFor the assessment year 2007-08, the appellant filed its return of income admitting a loss of Rs. 58,46,770...
Vocational Training as ‘Education’ under Section 2(15): Karnataka HC Allows Section 11 Exemption Despite Surplus | Deshpande Education Trust v. ACIT (2025)
Vocational training for rural youth qualifies as ‘education’ under section 2(15); Surplus generation no bar to exemption under section 11.
The appellant is a registered trust under Section 12AA of the Act engaged in...
Eligibility of Partner’s Remuneration for Presumptive Taxation u/s 44ADA: ITAT Delhi Allows 44ADA Benefit to Chartered Accountant Partner | Ranu Gupta vs ACIT (2025)
The appeal before the ITAT Delhi (SMC Bench) in the case of Sh. Ranu Gupta vs ACIT, National e-Assessment Centre, Delhi for AY 2018-19 concerns the applicability of Section 44ADA to remuneration received by a Chartered A...
Incorrect PIN Code in E-Way Bill Held Minor Error: Allahabad High Court Quashes GST Seizure & Penalty under Section 129 | RC Sales and Services vs State of Uttar Pradesh
The Allahabad High Court in Rc Sales And Services vs State Of Uttar Pradesh quashed GST seizure and penalty orders under Section 129 of the CGST Act. The court ruled that an incorrect PIN code in the e-way bill constitut...
Reopening Notice by Jurisdictional AO Instead of Faceless AO Quashed: Rahul Bagrecha v. DCIT (2025) | Invalid Section 148 Notice & Assessment Under Faceless Regime
Reopening notice issued by Jurisdictional Assessing Officer (JAO) instead of Faceless Assessing Officer (FAO) was to be quashed. The Jurisdicational Assessing Officer issued reopening notice dated 24.03.2024 to the asses...
Supreme Court on Section 44C: DIT (Intl. Tax), Mumbai v. American Express Bank Ltd. – Cap on Head Office Expenditure for Non-Residents Reaffirmed (Judgment dated 15.12.2025)
Analysis of judgement of Supreme Court delivered on 15.12.2025 in the case of Director of Income Tax, Mumbai v. M/s American Express Bank Ltd., on the issue of Deduction of head office expenditure in the case of non-resi...
Delay of 4 Days in Filing Form 10B Is Procedural and Not Fatal – ITAT Delhi Allows Section 11 Exemption and Sets Aside CPC Adjustment | Aarti Singal Foundation (AY 2021-22)
The Income Tax Appellate Tribunal, Delhi Bench ‘A’, adjudicated the appeal filed by the assessee against the order dated 25.11.2024 passed by the Commissioner of Income Tax (Appeals), Mumbai, under Section 250 of the...