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Understanding the Scope of “Incriminating Material” in Search-Based Reassessments under Section 153A (Pre-2024 Regime)
Introduction: Jurisdictional Basis for Search Reassessment(i) Legal Framework and Trigger for Section 153AWhen a search or requisition is undertaken under Section 132 of the Income Tax Act, 1961, the...
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Gauhati High Court Sets Aside GST Order Due to Absence of Proper Notice and Personal Hearing
Background and Key Factsi) Overview of DisputeM/s. Ganapati Enterprise (the Petitioner) approached the Gauhati High Court via a writ petition, contesting an order dated April 28, 2024 (the Impugned Or...
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Distinction Between 'Relevant Date' and 'Relevant Period' in GST Refund Claims
OverviewThe statutory framework for seeking GST refunds on unutilized Input Tax Credit (ITC) related to zero-rated supplies and inverted duty structures is encapsulated under Section 54 of the Central...
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Obligation to Maintain Books of Accounts under Section 44AA of the Income Tax Act, 1961
Overview: Applicability of Section 44AA for Assessees Engaged in Business or ProfessionAssessees who operate a business or are involved in any profession and whose income falls under the category “Pro...
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Set-Off of Business Losses from Indian Permanent Establishments Against Gross Interest Income: ITAT Mumbai’s Ruling and Its Implications
Overview(i) Introduction to Cross-Border Taxation and Set-Off Issues(a) The expansion of global business activities has led multinational entities to establish subsidiaries and branches worldwide. The...
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Obligation of Government Authorities to Reimburse GST on Contracts Executed After GST Implementation: Insights from Calcutta High Court
IntroductionThe Calcutta High Court, in its landmark decision in the matter of Pinki Construction v. Executive Engineer, North Bengal Development Department, addressed the issue of Goods and Services...
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Avoid Last-Minute Income Tax Hassles: The Benefits of Early Tax Payment
Introduction: Importance of Early Tax PaymentThe deadline for filing Income Tax Returns (ITR) is drawing near. While non-audit assessees have until September 15, 2025, to file their returns, it is pru...
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No Extension of GST Order Timeline Under Section 73(9) in Absence of Force Majeure: Analysis of Calcutta High Court Decision
(i) Introduction and Case OverviewThe Calcutta High Court, in its decision in Amar Nath Jaiswal v. Assistant Commissioner of State Tax (Writ Petition Application No. 1860 of 2025, dated April 23, 2025...
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Understanding the Legal Structure and Importance of Cause Lists in the GST Appellate Tribunal
OverviewCause Lists play a pivotal role in the procedural framework of courts and tribunals, ensuring efficient administration of justice. This article delves into the statutory basis and practical re...
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GST Implications on Transfer of Leasehold Rights: Interim Relief by Bombay High Court
Overview of the Interim Stay on GST OrderThe Bombay High Court has issued a temporary suspension on an adjudication order imposing Goods and Services Tax (GST) on the transfer of leasehold rights in l...
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GST Penalties and Article 19(1)(g): Assessing Constitutional Fairness in the Indian Tax Regime
OverviewThe introduction of Goods and Services Tax (GST) marked a transformative shift in India’s indirect tax structure. However, the framework for penalizing tax evasion under GST has raised concern...
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Prosecution under GST: Offences, Arrest, and Legal Mechanisms
Overview of Prosecution in the GST FrameworkProsecution under the Goods and Services Tax (GST) regime entails the initiation of criminal proceedings against assessees accused of grave tax offences. Th...
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Regulatory Compliance Deadlines for July 2025
July 2025 brings a host of statutory and regulatory compliance obligations for Indian businesses, assessees, and companies. This month involves crucial GST return submissions, mandatory filings under...
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July 2025 Statutory Tax Calendar: Income Tax and GST Reporting Duties
This guide presents an extensively restructured overview of the key tax compliance requirements for July 2025, drawing from the Income Tax Act, 1961 as well as the Goods and Services Tax (GST) regime,...
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Eligibility of Indian Exporters for Non-Recourse Export Factoring via Authorised Dealer Banks
Background OverviewXYZ Private Limited, an Indian entity exporting engineering goods, has secured a confirmed export contract with a European buyer. To enhance liquidity and manage working capital, XY...
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Personal Hearings via Video Conferencing under GST: Comprehensive Guidelines
1. OverviewIn response to the need for remote proceedings, the Central Board of Indirect Taxes and Customs (CBIC) released instructions on August 21, 2020, outlining procedures for conducting personal...
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Change in Depreciation Method under AS Framework
Revised Depreciation Approach for Plant and Machinery under AS Framework1. Overview: Revised Depreciation Approach for Plant and Machinery under AS FrameworkZentro Private Limited, a manufacturing ent...
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Adjusting Cost of Acquisition Using Indexation for Capital Gains Calculation
1. IntroductionThe concept of indexed cost enables assessees to claim a higher deduction for the cost of acquiring an asset, effectively offsetting the impact of inflation on capital gains. This mecha...
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Understanding Cost of Improvement in Capital Gains Computation
1. Overview of Cost of ImprovementWhen an assessee sells a capital asset, any profits or gains from the sale are taxable under the head ‘Capital Gains’. The calculation of capital gains is done by ded...
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Permissibility of Lending, Debt Investment, and Non-Fund Based Commitments by Indian Entities to Overseas Entities and Step-Down Subsidiaries
IntroductionIndian enterprises frequently seek to support their overseas subsidiaries or foreign affiliates through various financial arrangements, including loans, investments in debt securities, and...