Monthly Archives: August 2026

Reassessment based on previously examined bank records without new tangible material constitutes impermissible change of opinion.

By | August 21, 2026
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Reassessment based on previously examined bank records without new tangible material constitutes impermissible change of opinion. Issue Whether an assessment completed under Section 143(3) can be reopened under Section 147 to examine bank credits and gross receipts that were already scrutinized, in the absence of any new tangible material. Facts Assessee’s return for AY 2012-13… Read More »

Transfer pricing benchmarking requires strict functional, product, and asset comparability while honoring binding administrative directives.

By | August 21, 2026
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Transfer pricing benchmarking requires strict functional, product, and asset comparability while honoring binding administrative directives. Issue Whether transfer pricing adjustments, selection/exclusion of comparable entities, computation of operating margins, allocation of working capital, choice of benchmarking methods (TNMM vs. CUP vs. Berry Ratio), and disallowance of expatriate salaries can be sustained when facing functional dissimilarities, non-binding… Read More »

Estimation of gross profit within industry range and disallowance of reasonable interest on unsecured loans are unsustainable without identifying specific defects in audited accounts.

By | August 21, 2026
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Estimation of gross profit within industry range and disallowance of reasonable interest on unsecured loans are unsustainable without identifying specific defects in audited accounts. Estimation of gross profit within industry range and disallowance of reasonable interest on unsecured loans are unsustainable without identifying specific defects in audited accounts. Issue Whether the Assessing Officer can reject… Read More »

Contributions to Leave Encashment Fund, pre-AY 2015-16 CSR expenses, and disputed accrued rentals are allowable business deductions for Major Port Authority.

By | August 21, 2026
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Contributions to Leave Encashment Fund, pre-AY 2015-16 CSR expenses, and disputed accrued rentals are allowable business deductions for Major Port Authority. Issue Whether contributions to an insurer-managed leave encashment fund, pre-AY 2015-16 CSR expenses under binding guidelines, staff welfare payments misclassified as donations, disputed unrecovered estate rentals, and higher depreciation on port structures are allowable… Read More »

Expanding the Google AI Professional Certificate with vibe coding

By | August 20, 2026
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Expanding the Google AI Professional Certificate with vibe coding   Expanding the Google AI Professional Certificate with vibe coding Since launching in February, the Google AI Professional Certificate has become the most popular generative AI certificate of all time on Coursera. Now, we’re expanding the curriculum with a new course dedicated to vibe coding. Whether… Read More »

Have more fun at the state fair with these Google tools

By | August 20, 2026
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Have more fun at the state fair with these Google tools Have more fun at the state fair with these Google tools State fairs are packed full of things to do. Here are five ways you can use Google tools to plan your trip, try new foods, and get the most from your day at… Read More »

What is quantum mechanics?

By | August 20, 2026
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What is quantum mechanics? What is quantum mechanics? #Quantum Curious about quantum? Step onto Google’s Quantum AI Campus to get answers to some of the world’s top trending quantum questions. In this video, experts Jenna and Andrew break down the basics of quantum mechanics, the purpose behind quantum computers, as well as set the record… Read More »

I EXPOSED New Google Secrets

By | August 20, 2026
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I EXPOSED New Google Secrets I EXPOSED New Google Secrets #google #secret #eastereggs I exposed Google’s NEWEST biggest secrets… and you can try them along with me. Get ready to have your mind blown. #google #secret #eastereggs #funny #dinosaurgames #googlesearch #googlesecrets The video highlights several fun interactive secrets you can trigger by typing specific terms… Read More »

GST Case laws 19.08.2026

By | August 20, 2026
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GST Case laws 19.08.2026 Section Case Law Title Brief Summary Citation Relevant Act Section 2 Torrent Power Ltd. v. Union of India Corporate guarantees issued by parent companies for subsidiaries without consideration qualify as “business” under Section 2(17) and Schedule I; profit motive, continuity, or volume is immaterial. Click Here Central Goods and Services Tax… Read More »

Works Contractor Entitled To Tax Reimbursement For Work Executed Pre-GST But Billed Under GST Regime

By | August 20, 2026
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Works Contractor Entitled To Tax Reimbursement For Work Executed Pre-GST But Billed Under GST Regime Issue Whether a works contractor is entitled to tax reimbursement or adjustment for pre-GST executed work billed under the GST regime in accordance with transitional guidelines. Facts Assessment Period: The dispute pertains to Financial Year 2017–18 involving transitional works contracts.… Read More »