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Capital vs. Revenue Receipts in Infrastructure SPVs: Principles, Tests, and Practical Guidance
OverviewThe division between capital receipts and revenue receipts is fundamental in Indian income tax law, with significant consequences for taxability. The Income Tax Act, 1961, does not explicitly...
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Major Overhaul in Claiming DTAA Relief: Compulsory E-Filing of Form 41 under India’s Income-tax Act, 2025
1. Introduction: Paradigm Shift in Compliance for Non-ResidentsNon-resident assessees and foreign companies earning income from Indian sources have historically relied on Double Taxation Avoidance Agr...
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Understanding the Liquidity Drag of Withholding Tax in GIFT City Cross-Border Debt Structures
1. Introduction: GIFT City’s Tax Advantages and the Hidden Liquidity ChallengeGujarat International Finance Tec-City (GIFT City) has become an attractive hub for international banking activities due t...
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The Necessity of Proper Authentication in Income Tax Penalty Notices – Post-2026 ITAT Ruling
Overview: Jurisdictional Impact of Unsigned Penalty Notices(i) Authentication as the Basis of Penalty ProceedingsThe issuance of a penalty notice under Section 274 of the Income-tax Act, 1961, forms t...
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Section 270A Penalty Jurisdiction in India: Evolving Doctrines, Unresolved Issues, and a Practical Checklist
Introduction: Procedural Flaws Overshadowing Substantive DefaultsSection 270A of the Income-tax Act, 1961, introduced by the Finance Act, 2016, effective from 1 April 2017, marked a significant depart...
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Re-examining the Tax Audit Mandate When Declaring Lower Profits Under Presumptive Taxation
OverviewSection 63 of the Income-tax Act, 2025 (ITA 2025) requires assessees engaged in business or profession to have their books of accounts audited if their gross turnover or receipts cross a speci...
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GST Applicability on BOT Road Projects: A Comparative Review of Two High Court Decisions
GST Treatment of BOT Highway Concessions: Re-reading the Meghalaya and Rajasthan High Court Decisions1. Why BOT highway projects have become a GST controversyRoad infrastructure in India has frequentl...
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The GST Penalty Puzzle: When Non-Fraud Penalties Surpass Fraud Penalties
Introduction: Understanding the GST Penalty StructureThe Central Goods and Services Tax Act, 2017 (CGST Act) establishes a penalty regime that, in principle, aims to penalize fraudulent defaults more...
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GST Considerations at the Outset of Real Estate Projects
1. GST Considerations at the Outset of Real Estate Projects1.1. Introduction: Integrating GST into Project PlanningWhen commencing a real estate development—be it residential, commercial, or a combina...
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Understanding the 180-Day Rule Under GST: Implications for Input Tax Credit (ITC) Reversal and Deferred Supplier Payments
Background and Purpose of Input Tax Credit (ITC) in GSTInput Tax Credit (ITC) serves as a cornerstone of the Goods and Services Tax (GST) system in India, intended to eliminate cascading taxation and...
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Re-examining GST on Assignment of Leasehold Rights: Judicial Trends and Practical Implications
Introduction: The GST Debate on Leasehold AssignmentsThe applicability of Goods and Services Tax (GST) on the transfer of leasehold rights has become an increasingly complex and debated matter. This i...
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Redefining the Tax Landscape: Supreme Court’s Landmark Judgment on Real-Money Gaming and GST
Introduction: The Turning Point for Real-Money GamingOn May 27, 2026, the Supreme Court of India, through a division bench consisting of Hon’ble Justice J.B. Pardiwala and Hon’ble Justice R. Mahadevan...
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Survey Provisions under the Income Tax Act, 2025: A Comparative Analysis with the 1961 Act
Income-tax Survey under Section 253 of the Income Tax Act, 2025: Key Changes from Section 133A of the 1961 ActThe Income Tax Act, 2025 has recast the law relating to income-tax surveys through section...
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The Demise of the "Game of Skill" Defence in GST Jurisprudence
1. Introduction: The Demise of the "Game of Skill" Defence in GST JurisprudenceFor nearly seven decades, the concept of "game of skill" served as a protective shield in Indian gaming law. This notion,...
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How ROC Adjudication Orders Are Transforming Compliance in Corporate Fundraising
OverviewPrivate companies in India often rely on private placement and preferential allotment as outlined under Sections 42 and 62(1)(c) of the Companies Act, 2013 to attract investments. However, the...
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Imposition of Penalty on Company and Directors for Non-Cash Dealings Without Shareholder Consent: An Analysis
Overview of the IncidentM/s. Dhanlaxmi Solvex Private Limited, during a routine examination of its financial statements by the Registrar of Companies (ROC), was found to have engaged in non-cash deali...
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Agreement for Sale under RERA, 2016: Structure, Essential Clauses, and Legal Consequences
Introduction to RERA and the Agreement for SaleThe Real Estate (Regulation and Development) Act, 2016 (commonly referred to as RERA) has introduced a comprehensive regulatory framework for the Indian...
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Artificial Intelligence and Taxation: Re-examining the Legal Framework for Assessing Value Creation
1. Introduction: Rethinking the Taxpayer in the Age of AITaxation has always relied on the ability to identify a legal subject who can be held accountable for value generated in the economy. Both the...
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Unraveling the Cannabis vs. Ganja Dilemma: Understanding Botanical and Legal Complexities under the NDPS Act
Introduction to Cannabis in IndiaCannabis, one of the earliest cultivated plants in the Indian subcontinent, has a long-standing history. The legal framework governing cannabis is primarily establishe...
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The Cross Charge vs. ISD Dilemma Under GST for Multi-State Organisations
1. Overview: The Cross Charge vs. ISD Dilemma Under GST for Multi-State OrganisationsBusinesses structured with multiple GST registrations across India frequently grapple with the distinction between...