Tax Ruling – smeaccountant

CESTAT Delhi Rules No Service Tax on Uninvoiced Parent Company Cost Allocations

CESTAT Delhi rules un-invoiced parent company cost allocations are not subject to service tax, clarifying no actual services or consideration were involved.

Prasenjit Bhowmik May 25, 2026

Blog

CESTAT Delhi Rules Multifunction Protection Devices Qualify for Customs Exemption

CESTAT Delhi rules multifunction protection devices qualify as relays for customs duty exemption, clarifying classification despite added features.

Prasenjit Bhowmik May 25, 2026

Taxation and Legal Insights

Tax Officers Cannot Arbitrarily Reject DCF Method for Share Valuation, Rules ITAT Mumbai

The Income Tax Appellate Tribunal (ITAT) Mumbai bench has delivered a landmark ruling, declaring that tax Assessing Officers cannot unilaterally substitute the Discounted Cash Flow (DCF) method with the Net…

Prasenjit Bhowmik May 22, 2026

Taxation 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…

Prasenjit Bhowmik May 22, 2026