Rebates Received from Banks on Corporate Card Tax Payments Do Not Constitute a Taxable Supply Under GST Issue Whether the financial rebate of 0.515% received by the applicant from HSBC Bank for utilizing a corporate card to pay excise duty constitutes a taxable supply of goods or services liable to GST under Section 7 of… Read More »
Interim Bank Guarantee Securing Short-Paid Tax Need Not Be Enhanced to Cover Penalty for Perishable Goods Release Issue Whether an interim order directing a bank guarantee equivalent only to the alleged short-paid tax for releasing a perishable consignment should be modified to include the penalty amount. Whether the authority before whom the interim bank guarantee… Read More »
INCOME TAX CASE LAWS 07.5.2026 Relevant Act Section Case Law Title Citation Brief Summary Income Tax Act, 1961 Section 2(15) Pranab Micro Services Federation v. Principal Chief Commissioner of Income-tax Click Here Registration under section 12AB was rightly rejected as the Section 8 company’s microfinance activities involved commercial elements (charging interest) and it failed… Read More »
Reassessment Notice Issued Beyond Surviving-Time Computation Period After COVID-19 Relaxations Is Void Ab Initio Issue Whether a fresh reassessment notice issued on 24-7-2022 under the amended regime for Assessment Year 2013-14 was barred by limitation under Section 149, considering the surviving-time computation and the limits clarified by the Supreme Court in Union of India v.… Read More »
Summons Issued Under Section 131(1A) by Investigation Officer Upheld as Valid and Free of Malice Issue Whether statutory summons issued under Section 131(1A) by an Income Tax Officer (Investigation) can be deemed invalid or illegal on grounds of malice or jurisdictional error, given that a senior tax official was remotely related to parties in an… Read More »
Valuation Report from Preceding Year is Insufficient for Determining Share Premium Exemption, Matter Remanded Issue Whether an assessee can rely on a Discounted Cash Flow (DCF) valuation report obtained in a preceding year to justify a share premium under Section 56(2)(viib), and whether the matter should be remanded if neither the assessee nor the Assessing… Read More »
Task Optimizer: How to Automate, Outsource, or Skip Your Way to a Perfect Workweek 🏷️ Content Metadata Primary Keywords: Task Optimization Matrix, Business Workflow Automation, Delegate vs Eliminate, Productivity Framework, Streamline Weekly Workload. Meta Description: Stop wasting hours on low-value operational noise. Use our proven Task Optimizer framework to audit your weekly task list, isolate… Read More »
Gains from Sale of Delivery-Based Share Investments Are Assessable Under Capital Gains, Not Business Income Issue Whether the gains arising from the sale of listed equity shares, which were consistently held as investments and traded on a delivery basis, are assessable under the head “Capital Gains” or as “Business Income,” given that the assessee utilized… Read More »
Delhi High Court Dismisses Writ Petition Invoking Forum Conveniens as Assessee’s R&D Unit is in Haryana Issue Whether the Delhi High Court should exercise its discretionary writ jurisdiction when the assessee’s R&D unit and administrative filings are based in Haryana, merely because the approving authority (DSIR) is located in Delhi and a minor part of… Read More »
Depreciation on Amalgamation Goodwill and Internal CUP-Based Power Benchmarking Allowed Following Past Precedents Issue Issue I: Whether goodwill arising from a court-approved amalgamation scheme constitutes an intangible asset representing commercial rights eligible for depreciation under Section 32(1)(ii). Issue II: Whether the internal Comparable Uncontrolled Price (CUP) method, based on the rate at which non-eligible units… Read More »