Medical Reimbursements Up To Exempted Limit Excluded From Fringe Benefit Tax Liability Of Employer Issue Whether medical reimbursements up to the statutory limit of Rs. 15,000 per employee per annum, which are explicitly exempt from income tax in the hands of the employees, are liable to Fringe Benefit Tax (FBT) in the hands of the… Read More »
Estimation Of Profit From Unrecorded Sales Is Impermissible Without Explicitly Rejecting Books Of Account Issue Whether the Assessing Officer can legally estimate an addition based on a gross profit rate applied to alleged unrecorded sales found during a survey, without formally rejecting the assessee’s books of account under Section 145(3) or invoking Section 144. Facts… Read More »
Purely Equity Debentures Excluded From MAT Transition Amount And Rule EightD Disallowance Set Aside For Want Of Satisfaction Issue Whether fully convertible debentures (ZOFCDs/FCDs) holding purely equity components without any liability element can be classified as Compound Financial Instruments (CFIs) or “Other Equity” to trigger a book profit increase via the MAT transition amount under… Read More »
Tax Recovered In Violation Of Judicial Stay Ordered To Be Refunded Exceeding Twenty Percent PreDeposit Issue Whether an order passed on a stay/waiver application under Section 220 should be quashed and the illegally recovered demand refunded when the Revenue aggressively appropriated the entire disputed tax amount despite a subsisting High Court interim stay order. Facts… Read More »
Passing Assessment Order Without Providing Reasonable Opportunity Violates Principles Of Natural Justice Passing Assessment Order Without Providing Reasonable Opportunity Violates Principles Of Natural Justice Issue Whether a best judgment assessment order passed under Section 144 read with Section 144B is legally sustainable when the Revenue provides inadequate response windows, ignores an adjournment request, and gives… Read More »
Hiring Receipts Of Trust Treated As Commercial Business Income Whereas Incidental Expenditures Allowed As Application Hiring Receipts Of Trust Treated As Commercial Business Income Whereas Incidental Expenditures Allowed As Application Issue Whether the receipts earned by a charitable trust from hiring out its conference and auditorium facilities along with other amenities constitute commercial business income… Read More »
Supreme Court Remands Reassessment Cases To High Courts For Assessment Year Verification Issue Whether reassessment notices segregated from a larger batch of appeals must be struck down outright if they pertain to the Assessment Year (AY) 2015-16 pursuant to the Revenue’s concession in Union of India v. Rajeev Bansal, or whether they should be remitted… Read More »
DGCEI is a Law Enforcement Agency, Exempting Departmental Appeals From CBDT Monetary Limits Issue Whether the Directorate General of Central Excise Intelligence (DGCEI) qualifies as a “law enforcement agency” under paragraph 10(e) of the CBDT Circular dated 11.07.2018 (read with Circular dated 20.08.2018), thereby exempting the Revenue’s appeal from the standard Rs. 50 lakhs low… Read More »
Footwear made from All Rubber and all Polymeric Material and its Components (Quality Control) Amendment Order, 2026 The Gazette of India CG-DL-E-15062026-273465 EXTRAORDINARY PART II—Section 3—Sub-section (ii) PUBLISHED BY AUTHORITY No. 2931] NEW DELHI, FRIDAY, JUNE 12, 2026/JYAISTHA 22, 1948 MINISTRY OF COMMERCE AND INDUSTRY (Department For Promotion of Industry and Internal Trade) ORDER New… Read More »
Run Gemma on the edge with the Coral Board Run Gemma on the edge with the Coral Board This is the Coral Board, a small, low-power dev board with Google’s Coral NPU machine learning accelerator inside, built for developers to experiment with on-device AI. It runs Gemma, and everything happens on the board. For I/O… Read More »