Create with Flow to How to use Google’s AI Creative Studio Create with Flow to How to use Google’s AI Creative Studio Built with and for creatives, Flow is your AI creative studio powered by Google DeepMind’s most advanced models: Veo, Nano Banana, and Gemini. In this tutorial, you will learn to seamlessly… Read More »
Pre-2002 Self-Generated Trademark Transfers are Tax-Free as Cost of Acquisition is Unascertainable. I. The Sarabhai Zydus Case: Transfer of Trademarks The Dispute: The assessee transferred 22 veterinary brand names to a joint venture for ₹29.10 crores. The Revenue tried to tax this under three different heads: Capital Gains (with Nil cost), Business Income (Section 28(iv)),… Read More »
TDS Credit Denied to Agents if Underlying Income Belongs to the Principal/Farmer. The Dispute: The Agent, The Farmer, and the Missing Income The Scenario: The assessee is a commission agent at an APMC (Agricultural Produce Market Committee). He facilitates auctions where traders buy produce from farmers. The Transaction: Traders purchased agricultural produce. Under Section 194Q,… Read More »
Search Additions Based on Estimated Yield Comparisons Without Incriminating Material Are Legally Invalid. The Dispute: Expected Yield vs. Actual Yield The Scenario: The assessee, a steel re-rolling company, declared a production yield of 82.42%. However, the AO noted that during a previous search-period assessment (covering 2006-07 to 2012-13), the estimated yield was 89%. The AO’s… Read More »
SC Reaffirms: Reassessments for AY 2016-17 and Earlier Are Barred if Already Time-Expired Under Old Law. The Dispute: The SMC Group Search & The 2024 Notice The Conflict: The Revenue conducted a search on the SMC Group and suspected that the assessee had taken an “accommodation entry” (loan) from one of the group’s shell entities.… Read More »
Late Filing of Form 10DA is a Procedural Lapse; Deduction Under Section 80JJAA Cannot Be Denied if Filed Before Assessment. The Dispute: Substance vs. Procedure The Conflict: The assessee claimed a deduction for hiring new employees. However, the Assessing Officer (AO) disallowed the entire claim because the required audit report (Form 10DA) was filed after… Read More »
Scholarships for Foreign Studies Paid in India Are Domestic Application; Registration Cannot Be Denied. The Dispute: Indian Students, Foreign Degrees, and Section 11(1)(c) The Conflict: The assessee-trust applied for registration under Section 12AB. During the enquiry, the CIT(Exemption) found that the trust had granted scholarships to Indian students to study abroad. The Revenue’s Objection: The… Read More »
Captive Power Valued at Industrial Tariff; Capital Subsidies Excluded from Both Normal Tax and MAT. I. Captive Power Valuation (Section 80-IA) Transfer pricing for captive power must be based on the “Consumer Tariff” (the rate the business would have paid to the utility), not the “Surplus Rate” (the lower rate at which the utility buys… Read More »
Important GST Case Laws 15.04.2026 Relevant Act Section / Rule Case Law Title Citation Brief Summary CGST Act, 2017 Sec 18(3) Emerson Process Management (India) Pvt Ltd. v. UoI Click Here Inter-state Amalgamation: Department cannot deny ITC transfer merely because entities are in different states. Manual filing of Form ITC-02 must be accepted if the… Read More »
Ex-parte GST Orders Can Be Quashed if the Full Tax Demand is Already Recovered. The Dispute: The Silent Assessment & Forced Recovery The Conflict: For the period 2021-22, the tax authorities issued a Show-Cause Notice (DRC-01). The Ex-parte Order: Because the petitioner failed to file a reply, the Assessing Officer passed a final order confirming… Read More »