Corporate guarantee fees at 1% upheld; bad debts actual write-off and lease rentals allowed as revenue expense. Issue Whether the TPO was justified in benchmarking a free corporate guarantee given to an overseas AE at an ALP of 1%, and whether the AO erred in disallowing an actual bad debt write-off and the principal component… Read More »
TPO cannot arbitrarily value management fees at ‘Nil’ or treat interest on receivables as a standalone transaction. Issue Whether the Transfer Pricing Officer (TPO) was legally justified in reducing the Arm’s Length Price (ALP) of management fees and royalty payments to ‘Nil’, making a separate adjustment for interest on outstanding receivables, and disallowing late employee… Read More »
Assessee blocks uncorroborated search additions, but stock deficits and unproven HUF rents stand. Issue Whether search-and-seizure-based additions concerning alleged on-money payments, unrecorded loose-paper transactions, protective gross profit adjustments, stock deficiencies, unaccounted purchases/sales, and unverified rental income claims are legally sustainable under the provisions of the Income-tax Act? Facts On-money & Third-Party Sheets (I & II):… Read More »
Assessee wins corporate guarantee, R&D, and registration claims; medical freebies and late welfare dues disallowed. Issue Whether the various additions and disallowances made by the Assessing Officer (AO) for Assessment Year 2013-14—concerning corporate guarantees, interest on borrowings, weighted R&D deductions, product registration expenses, exempt income disallowances (under regular and MAT provisions), foreign exchange hedging losses,… Read More »
Composition of National ART and Surrogacy Board The Gazette of India CG-DL-E-22062026-273697 EXTRAORDINARY PART II—Section 3—Sub-section (ii) PUBLISHED BY AUTHORITY No. 3139] NEW DELHI, MONDAY, JUNE 22, 2026/ASHADHA 1, 1948 MINISTRY OF HEALTH AND FAMILY WELFARE (Department of Health Research) NOTIFICATION New Delhi, the 18th June, 2026 S.O. 3265(E).— In exercise of the power conferred… Read More »
Appointment in Delhi High Court Delhi Gazette SG-DL-E-22062026-273695 EXTRAORDINARY PUBLISHED BY AUTHORITY No. 150] NEW DELHI, TUESDAY, JUNE 9, 2026/JYAISTHA 19, 1948 [N. C. T. D. No. 68 DEPARTMENT OF LAW, JUSTICE AND LEGISLATIVE AFFAIRS NOTIFICATION Delhi, the 9th June, 2026 F. No. 6/1/2015/Judl./Suptlaw/1773-1781.— Under the provisions of Section 20 of the Punjab Courts Act,… Read More »
Notification bringing into force the provisions of the Jan Vishwas Amendments of Provisions Act 2026 relating to the Coastal Shipping Act 2025 The Gazette of India CG-DL-E-22062026-273694 EXTRAORDINARY PART II—Section 3—Sub-section (ii) PUBLISHED BY AUTHORITY No. 3134] NEW DELHI, SATURDAY, JUNE 20, 2026/JYAISTHA 30, 1948 MINISTRY OF PORTS, SHIPPING AND WATERWAYS NOTIFICATION New Delhi, the… Read More »
Notification bringing into force the provisions of the Jan Vishwas Amendments of Provisions Act 2026 relating to Seamens Provident Fund Act 1966 The Gazette of India CG-DL-E-22062026-273693 EXTRAORDINARY PART II—Section 3—Sub-section (ii) PUBLISHED BY AUTHORITY No. 3135] NEW DELHI, SATURDAY, JUNE 20, 2026/JYAISTHA 30, 1948 MINISTRY OF PORTS, SHIPPING AND WATERWAYS NOTIFICATION New Delhi, the… Read More »
Notification bringing into force the provisions of the Jan Vishwas Amendments of Provisions Act 2026 relating to the Merchant Shipping Act 2025 The Gazette of India CG-DL-E-22062026-273692 EXTRAORDINARY PART II—Section 3—Sub-section (ii) PUBLISHED BY AUTHORITY No. 3133] NEW DELHI, SATURDAY, JUNE 20, 2026/JYAISTHA 30, 1948 MINISTRY OF PORTS, SHIPPING AND WATERWAYS NOTIFICATION New Delhi, the… Read More »
The 5-Minute AI Weekly Recap: Realignment Week The 5-Minute AI Weekly Recap: Realignment Week The AI Breakdown This week, the Fable fallout became a broader realignment across AI, pushing more attention toward open models, model routing, local control, and the risks of building around any single frontier system. GLM 5.2, OpenRouter’s Fusion, SpaceX’s Cursor acquisition,… Read More »