Search
Assessing Officer’s Duty to Conduct an Independent Inquiry: ITAT Clarifies the Burden of Proof under Section 68 of the Income-Tax Act
ITAT highlights the importance of evidence over procedural lapses, clarifying the Assessing Officer's duty under s. 68 of the Income-Tax Act
Nov 30, 20244 min read
Jail is the Exception: Delhi High Court Reaffirms Article 21 in Granting Bail Under PMLA
The Delhi HC grants bail under PMLA, stressing a. 21 rights and balancing stringent bail conditions with trial delays and liberty concerns.
Nov 30, 20245 min read
Advance Pricing Agreements in India: Resolving Transfer Pricing Disputes
India's APA framework fosters certainty in transfer pricing, reducing litigation and creating an investor-friendly tax environment for MNCs.
Nov 29, 202417 min read
The Impact of Deepfake Technology: Legal Risks and Regulatory Solutions
Explore how deepfake technology poses legal challenges and the global regulatory frameworks aiming to mitigate these risks.
Nov 26, 202417 min read
Supreme Court Clarifies DRI Jurisdiction Under Customs Act: Proper Officer Reinterpreted
The Supreme Court upheld the authority of DRI officers to issue customs demands under Section 28 of the Customs Act. Reversing its 2021 judgment in Canon India, the Court validated retrospective amendments and affirmed legislative competence to correct interpretational errors, settling years of litigation and reinforcing administrative stability in customs enforcement.
Nov 26, 20244 min read
Bombay High Court Clarifies Revenue v. Capital Expenses under Income-tax Act
The Bombay High Court ruled that broken period interest and debenture issuance expenses qualify as deductible business expenditure.
Nov 25, 20243 min read
Equitable Enforcement of Contracts: The Supreme Court Reiterates Principles of Specific Performance, Limitation, and Lis Pendens
The Supreme Court revisits principles of specific performance, limitation, and lis pendens in a landmark case on contract enforcement.
Nov 23, 20244 min read
Delhi High Court: Prosecution under the Black Money Act Not Contingent on Completion of Assessment
Delhi HC affirms that prosecution under the Black Money Act can proceed independently of tax assessment proceedings under s. 10.
Nov 23, 20244 min read
NCLAT: Sale of Corporate Debtor as Going Concern Prevails Over Scheme of Arrangement
The NCLAT Chennai upheld the priority of selling a corporate debtor as a going concern, aligning with the IBC's goals of value maximisation.
Nov 23, 20244 min read
ITAT Ruling on Deductibility of Loss on Inter-Corporate Deposits
The ITAT reviews the deductibility of losses on inter-corporate deposits, emphasising statutory compliance and evidentiary support.
Nov 22, 20243 min read
Arm’s Length Principle Upheld: Special Bench Rules on Taxation of Transactions Between Permanent Establishment & Head Office Under Transfer Pricing Laws
The ITAT Special Bench clarifies that HO-PE transactions are subject to arm's length pricing under TP laws, ensuring compliance.
Nov 20, 20244 min read
Supreme Court Redefines Directive Principles: Balancing State Policy & Individual Rights under Articles 39(b) & 31C
The SC clarifies the scope of Articles 39(b) and 31C, balancing state policy, resource distribution, and individual property rights.
Nov 18, 20245 min read