Supreme Court affirms no Section 14A disallowance without exempt income and allows premises vacation fee as revenue expense Issue Issue 1: Whether any disallowance under Section 14A can be made when no exempt income was earned by the assessee during the relevant assessment year. Issue 2: Whether compensation paid for vacating premises to secure it… Read More »
Transit insurance claims, provisions reversed, and non-resident fees qualify for section 80-IC deduction or exemption, whereas vendor penalties do not. Issue Issue 1: Whether transit insurance claim receipts for loss or damage to operational assets are profits derived from an eligible industrial undertaking qualifying for deduction under Section 80-IC. Issue 2: Whether the reversal of… Read More »
Power subsidy granted to reimburse operational electricity charges without capital asset creation is a taxable revenue receipt Issue Whether an electricity subsidy received from the government to reduce recurring power expenses during manufacturing operations, without any requirement to acquire capital assets or construct factory infrastructure, constitutes a capital receipt or a taxable revenue receipt under… Read More »
Reviews applicants’ routing of demonetized cash through benamidars back to themselves constitutes a valid benami transaction Issue Whether the definition of a ‘benami transaction’ under Section 2(9)(A) of the Prohibition of Benami Property Transactions Act, 1988 requires concealment of the beneficial owner or future benefit to a third party, or whether providing consideration for property… Read More »
Point-in-time editing now available in Google Vids Point-in-time editing now available in Google Vids Google Vids is improving the video creation experience with the introduction of point-in-time editing. This feature will help ensure that the canvas matches the video timeline 1:1. Previously, the canvas displayed all elements present across an entire scene all at the… Read More »
In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act The Gazette of India CG-MH-E-10102026-277050 EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 608] NEW DELHI, FRIDAY, OCTOBER 9, 2026/ASVINA 17, 1948 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 8th October, 2026… Read More »
GST CASE LAWS 09.10.2026 Here is the structured table containing the requested details extracted from the provided text: Section Case Law Title / Event Brief Summary Citation Relevant Act N/A (Press Release) Recommendations of the 57th Meeting of the GST Council Press release summarizing the recommendations of the 57th GST Council meeting, covering rationalisation… Read More »
Technical Mismatch in Consignee Address Without Intent to Evade Tax Cannot Justify Section 129 Penalty Issue Whether a penalty under Section 129 can be imposed for transit detention of goods solely on account of a technical address mismatch in the consignee’s address when accompanied by valid invoices and e-way bills without any physical discrepancy or… Read More »
Bona Fide Address Error in Valid Transport Documents Cannot Justify Transit Penalty Under Section 129 Issue Whether a penalty under Section 129 can be imposed for transit detention solely due to a minor address discrepancy in invoices and e-way bills when physical goods fully match the documents and no intention to evade tax exists. Facts… Read More »
Departmental Appeal Below Prescribed Monetary Limit Dismissible at Threshold Without Examining Merits Issue Whether a departmental appeal filed by the Revenue before the Appellate Tribunal against an order setting aside a penalty is maintainable when the disputed amount is below the statutory monetary limit prescribed under Section 120 and no recognized exceptions are established. Facts… Read More »