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ITAT Delhi Rules in Favor of Taxpayers on Section 115BAA Compliance
ITAT Delhi's landmark ruling confirms minor delays in Form 10-IC filing won't block companies from Section 115BAA's concessional tax rates.
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Bombay High Court Rules Procedural Lapses Cannot Deny Section 115BAA Tax Benefits
Bombay High Court rules minor procedural delays won't deny companies crucial Section 115BAA tax benefits, prioritizing substantive eligibility.
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Delhi Government Clarifies Stamp Duty Rates for Share Issuance: A Shift in Corporate Compliance
The Delhi Government issued a definitive circular on July 29, 2025, mandating that companies with registered offices in the National Capital must apply a 0.1% stamp duty rate on all…
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Tax Professionals Lobby for Simplification of TDS Return Codes 1023 and 1024
Streamlining Compliance in Tax ReportingTax professionals and industry bodies have formally requested that the Central Board of Direct Taxes (CBDT) merge TDS return codes 1023 and 1024, citing unnecessary administrative…
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Mumbai ITAT Grants ₹96.23 Crore Relief to MSEDCL in Landmark Tax Ruling
Mumbai ITAT's landmark ruling grants MSEDCL ₹96.23 crore tax relief, clarifying prior period expense deductibility for businesses.
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Delhi High Court Rules Companies Cannot Incur Personal Expenses, Overturning Car and Telephone Disallowances
Delhi High Court clarifies corporate tax law, ruling companies cannot incur personal expenses and overturning car and telephone disallowances.
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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…
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Navigating the Intersection of Companies Act Amendments and Corporate Taxation
Recent amendments to the Companies Act have introduced significant regulatory shifts that directly impact how corporations manage their tax liabilities across India. By tightening oversight on penalty payments, Corporate Social…
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ITAT Mumbai Directs Transfer Pricing Adjustment Based on Cyber Media Research Comparability
ITAT Mumbai directs a transfer pricing rework, ruling Cyber Media Research comparable for support services and impacting tax adjustments.
Posted inTaxation and Legal Insights
ITAT Reaffirms Opening Balances Cannot Be Taxed Under Section 68
The Income Tax Appellate Tribunal (ITAT) has delivered a landmark ruling reaffirming that tax authorities cannot tax opening balances carried forward from previous years under Section 68 of the Income…