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Applicability of Section 194C TDS to External Development Charges (EDC) Payments — Delhi High Court in Puri Constructions Pvt. Ltd. vs. Addl. CIT (W.P.(C) 9483/2019)
Facts of
the CaseSeveral writ petitions including W.P.(C) 9483/2019 were filed
by real estate developers challenging notices issued by the Income-Tax
Department alleging default in deduction of tax at source (TD...
Iran–US War: Impact on the Indian Economy and Petroleum Imports
Iran–US War: Impact on the Indian Economy
and Petroleum Imports
(Macroeconomic, Sectoral and Energy Security Analysis)1. IntroductionGeopolitical tensions in the Middle East
have historically influenced global econo...
Quantitative Disclosure for Stock under Schedule III of the Companies Act, 2013 – Key Takeaways, Industry Notes, Analytical Ratios and Audit Perspective
Quantitative Disclosure for Stock under Schedule III of the
Companies Act, 2013 – Key Takeaways, Industry Notes, Analytical Ratios and
Audit Perspective
1. Conceptual Background of Quantitative Disclosure
...
Virtual Workshop Series on “Income Tax Act, 2025 vs. Income Tax Act, 1961”
Day 1 – Session DetailsTopic: Changes, Provisions and Procedures relating to NPOs under the Income Tax Act, 2025Faculty: CA Ved MittalPPT:https://mytaxexpert.co.in/uploads/1772942857_changeinNPO2025ACT.pdfRecording:htt...
Wishing you and your family a very Happy Holi!
Respected Professional Colleagues,On the auspicious occasion of Holi, We extend our warm greetings to you and your family.May this festival of colours usher in happiness, harmony, prosperity, and good health in your life...
Indian National Congress vs Deputy Commissioner of Income Tax — Delhi High Court Upholds Section 153C Proceedings Based on Search Material (Income‑tax Act, 1961)
Facts of the Case
The
petitioner, Indian National Congress, filed multiple writ petitions challenging
the initiation of proceedings under Section 153C of the Income‑tax Act, 1961
for Assessment Years 2014‑15, 201...
MUFG Bank Ltd. vs Commissioner of Income Tax — Delhi High Court Permits Selective Settlement of Appeals under Direct Tax Vivad Se Vishwas Act, 2020 (Sections 143(3), 144C, VSV Act)
Facts of the Case
The
writ petition pertains to Assessment Year 2011–12. The petitioner, MUFG Bank
Ltd., challenged the order of the Revenue rejecting its declaration in Form‑1
and undertaking in Form‑2 filed...
MUFG Bank Ltd. vs Commissioner of Income Tax — Delhi High Court Holds Assessee Can Settle Select Appeals Under Direct Tax Vivad Se Vishwas Act, 2020 (Sections 2(1)(a), 2(1)(j), Rule 2(b))
Facts of the Case
The
writ petition pertained to Assessment Year 2010–11. The petitioner, MUFG Bank
Ltd., challenged the rejection of its declaration filed under Form-1 and
undertaking under Form-2 of the Direct Ta...
Orchid Infrastructure Developers Pvt Ltd vs Principal Commissioner of Income Tax — Delhi High Court Quashes Reopening under Sections 148/148A After Settlement Commission Order (Sections 245D, 245‑I, 150)
Facts of the CaseThe
petitioner challenged the order dated 30.11.2023 passed under Section 148A(d)
of the Income-tax Act, 1961 for Assessment Year 2007-08 along with the notice
issued under Section 148. The petitioner...
Stay of Tax Demand Not Automatic on 20% Deposit — Delhi High Court Permits Fresh ITAT Stay in Indian National Congress v. DCIT (AY 2018-19, Section 13A)
Facts of the Case
The
petitioner, a recognized national political party, filed its return for AY
2018-19 claiming exemption under Section 13A of the Income-tax Act.
The
Assessing Officer denied the ...