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CESTAT Chennai Rules Unbilled Revenue Not Taxable Before Receipt Under Service Tax Rules
CESTAT Chennai rules that unbilled revenue is not subject to service tax before receipt, offering major relief and clarity for taxpayers.
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Legal Framework Governs Central Excise Refunds and Interest Payments
Discover how India's Central Excise Act governs duty refunds and interest payments for businesses following favorable court rulings.
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ITAT Chennai Rules in Favor of Taxpayer on Section 36(1)(iii) Interest Disallowance
In a recent ruling that provides significant relief to corporate taxpayers, the Chennai bench of the Income Tax Appellate Tribunal (ITAT) has deleted an interest disallowance previously levied under Section…
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Ahmedabad ITAT Allows ₹602 Crore Pfizer Settlement as Business Expenditure
Discover why the Ahmedabad ITAT allowed Pfizer to claim a 602 crore rupee patent settlement as a tax-deductible business expense.
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ITAT Deletes TDS Demand on Stockist Discounts, ESOPs & MSME Interest
In a significant legal development for corporate taxpayers, the Income Tax Appellate Tribunal (ITAT) has ruled against tax deduction at source (TDS) demands concerning stockist discounts, employee stock option plans…
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Tax Audit Changes: Clause 47 Targets Unquoted Share Transactions
In a significant shift for corporate tax compliance, tax auditors are now required to report all purchases and sales of unquoted shares under Clause 47 of Form 3CD. This regulatory…