AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The ITAT has restricted the disallowance of fuel expenses to 5% due to practical difficulties in maintaining self-generated vouchers. This ruling addresses challenges faced by taxpayers in substantiating fuel expenses for tax purposes.
The CESTAT has clarified that the limitation period under Section 85(3A) should be counted in calendar months rather than in days. This ruling remands the appeal for a decision on its merits.
The Delhi High Court ruled that secondment reimbursements from EY US are taxable as fees for technical services (FTS) as employees impart technical knowledge to Indian entities.
The Income Tax Department has clarified that taxpayers will be required to file under both the old and new Income Tax Acts during the transition.
This article provides a practical ITR-1 checklist aimed at salaried individuals to prepare for the upcoming filing season for AY 2026-27.
This article analyzes the changes in tax audit limits under Section 44AB, revealing which taxpayers will be affected by the revised provisions.
This article provides a comprehensive checklist for presumptive taxpayers under sections 44AD and 44ADA, ensuring they record their income and comply with filing requirements for AY 2026-27.
This article explores the intricacies of Section 56(2)(viib) of the Income Tax Act, which imposes tax on shares issued above Fair Market Value. Understanding the nuances of Fair Market Value assessment is vital for tax practitioners.
The Madras High Court acquitted a customs preventive officer charged with disproportionate assets, emphasizing the need for comprehensive asset assessment during investigations.
SEBI's proposed amendments to the Municipal Debt Securities Regulations aim to enhance retail investor participation through improved disclosures and new incentives.
The Orissa High Court has instructed the OSTT to resolve jurisdictional questions in a tax dispute under the OET Act, emphasizing the need for a comprehensive hearing.
The Bombay High Court has restrained GST penalty actions against a company director while reviewing jurisdictional challenges related to the penalty.
The Punjab and Haryana High Court dismissed a GST writ petition due to unexplained delays, reinforcing the doctrine of laches and the importance of timely action in legal challenges.