Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Section 44C Applies to All Head Office Expenditure of Non-Residents—Common or Exclusive: Supreme Court Settles Law in DIT v. American Express Bank Ltd. (2025 INSC 1431)
The Supreme Court adjudicated a batch of appeals concerning the interpretation and scope of Section 44C of the Income-tax Act, 1961, in the context of deductions claimed by non-resident banking entities in respect of exp...
Tie breaker Rule in Double Taxation Avoidance Agreement (DTAA): Determination of Tax Residence in Dual Residency Cases with Key Judicial Precedents
Tie breaker Rule in Double Taxation Avoidance Agreement (DTAA)The Tie breaker rule for residential status refers to the criteria used to determine an individual’s primary place of residence, usually for tax purpos...
Unproved Bank Liabilities for Unpresented Cheques Treated as Bogus Credits; SLP Dismissed by Supreme Court – Harsha Associates (P) Ltd. v. DCIT
The assessee filed its return of income for Assessment Year 2007-08 declaring a total income of ₹28,71,047. The return was selected for scrutiny. During the assessment proceedings, the Assessing Officer observed that t...
Extension of last date of CPE hours’ compliance for the Calendar year 2025 - From 31st December, 2025 to 31st March, 2026
Dear Member,Greetings!!This is to inform you that the “Statement on Continuing Professional Education, 2023” (available at https://www.icai.org/post/issuance-of-cpe-statement-2023), which became effect...
MCA replaces Annual KYC requirements under the Companies Act, 2013 with abridged KYC requirements once in three years
Ministry of Corporate AffairsMCA replaces Annual KYC requirements under the Companies Act, 2013 with abridged KYC requirements once in three yearsPosted On: 01 JAN 2026 6:04PM by PIB DelhiThe annual KYC requirement for d...
Stay of Income-tax Demand Cannot Be Rejected Mechanically for Non-Payment of 20% — Delhi High Court in Clearmedi Healthcare Pvt. Ltd. v. DCIT Reaffirms Discretion under Section 220(6)
The writ petition was filed before the High Court of Delhi challenging the order passed by the Assessing Officer rejecting the petitioner’s application for stay of demand during the pendency of the appeal before the Co...
Bogus Political Donations Routed Back to Donor Not Eligible for Deduction under Section 80GGC — ITAT Ahmedabad in Rajen Jayantilal Merchant v. ITO
The appeal before the Income Tax Appellate Tribunal, Ahmedabad Bench, arose from an order passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, confirming the reassessment made under Sectio...
Prosecution Under Section 276C(2) Quashed for Non-Payment of Self-Assessment Tax: No Willful Evasion Established – Vilas Babanrao Kalokhe v. PCIT (Central) (Bom HC, 2025)
The assessee, engaged in the business of stone crushing and manufacturing precast cement pipes, filed the return of income for Assessment Year 2022-23 on 05.11.2022. The Assessing Officer observed that the assessee faile...
Ad Hoc 10% Disallowance of Travelling & Telephone Expenses Deleted: No Discrepancies in Audited Books – Spectrum Talent Management v. ACIT (ITAT Delhi, 2025)
The assessee-firm, engaged in providing staffing solutions and operating in the services sector, claimed travelling and telephone expenses under Section 37(1) for the relevant assessment year. The Assessing Officer obser...
Supreme Court mandates strict timelines for oral arguments, issues Circular
Supreme Court mandates strict
timelines for oral arguments, issues Circular
To facilitate speedy and proper
administration of justice, Supreme Court issues Circular mandating arguing
Counsels to submit ‘timelines...