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CESTAT Ruling Strengthens CENVAT Credit Eligibility Based on Service Nexus
CESTAT's landmark ruling clarifies CENVAT credit eligibility, emphasizing the crucial service nexus and shifting the burden of proof to tax authorities.
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Delhi’s New Stamp Duty Mandate: A Critical Shift for Corporate Compliance
Delhi businesses must understand the new 0.1% stamp duty on all share issuances starting 2025 to ensure corporate compliance and avoid penalties.
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Mumbai ITAT Rules Against Blanket Taxation of Sale Consideration in Capital Gains Disputes
Mumbai ITAT clarifies capital gains rules, preventing blanket taxation and upholding taxpayer rights to Fair Market Value for pre-2001 assets.
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CESTAT Bangalore Rules on Cenvat Credit Reversal in Trading Activity Dispute
Clarifying Tax Boundaries in Service CreditThe Customs, Excise and Service Tax Appellate Tribunal (CESTAT) in Bangalore has issued a significant ruling clarifying that Cenvat credit is exclusively reserved for taxable…
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Supreme Court Upholds 6% Bogus Purchase Disallowance, Declining Further Review
Supreme Court Dismisses Tax Appeal on Bogus Purchase AdditionsThe Supreme Court of India recently dismissed a petition challenging a High Court ruling that restricted tax disallowances on alleged bogus purchases…
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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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Delhi High Court Limits Tax Reassessment Powers in Landmark Ruling
The Delhi High Court has officially quashed a tax reassessment notice issued by the Income Tax Department on March 31, 2024, ruling that the action exceeded the statutory ten-year limitation…
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ITAT Restores Appeal as Taxpayer Could Not Respond to SCN Due to Illness
Judicial Relief for Taxpayers Amid Medical EmergenciesThe Income Tax Appellate Tribunal (ITAT) recently issued a landmark ruling in favor of a taxpayer, restoring an appeal that had been dismissed due…
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ITAT Overturns 700-Day Delay Penalty Over Misdirected Tax Notices
ITAT overturned a 700-day delay penalty due to misdirected tax notices, prioritizing taxpayer rights and fair procedure over strict timelines.
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ITAT Delhi Rules Against Reducing Section 80IB Deductions by Section 80HHC Claims
Clarifying Tax Deduction ComputationsThe Income Tax Appellate Tribunal (ITAT) Delhi recently issued a pivotal ruling clarifying that deductions claimed under Section 80IB cannot be automatically reduced by the amount already…