GST Classification of Battery Energy Storage Systems (BESS) as Support Services vs. Sale of Electricity Facts The Applicant: A developer and operator of Battery Energy Storage Systems (BESS). The systems are used to draw electricity from the grid, store it in chemical form, and discharge it back into the grid on demand. The Agreement (BESPA):… Read More »
Classification of Medical Disposables: Plastic Articles vs. Medical Accessories (GST) Facts The Applicant: A CDSCO-licensed and ISO 13485 certified manufacturer of medical disposables. The Products: A range of non-latex, polymer-based medical items including sterile/non-sterile EVA gloves, sterile aprons, OT shoe covers, drape sheets, procedure drapes, and various probe/cable covers (Endocavity, Ultrasound, Laparoscopy camera, and Intraoperative… Read More »
Form 121 Income Tax pdf download New Income Tax Rules 2026 Here are the key points regarding Form No. 121 under the new income tax Act 2025 and Income tax Rules 2026 framework: Single Unified Form: Form 121 is a new, single unified declaration form that merges and replaces the older Form 15G and Form… Read More »
IMPORTANT INCOME TAX CASE LAWS 23.03.2026 Relevant Act Section Case Law Title / Authority Brief Summary Citation Income Tax Act Sec 2(15) Micro Finance Industry Network v. CIT(E) A self-regulatory organization for NBFCs providing financial literacy and grievance redressal cannot be denied charitable status as “General Public Utility” without proof of commercial trade or business.… Read More »
Taxability of Consultancy Fees and Foreign Investments of Non-Resident Individuals (India-UAE DTAA) Facts The Assessee: A non-resident individual and UAE resident who served as a Director and 100% shareholder in foreign companies, DAR and TIL. The Search & Reopening: Following a search operation, an email from a client (GFH) suggested that substantial payments were made… Read More »
Eligibility of Self-Regulatory Organizations (SROs) as Charitable Entities under “General Public Utility” (Section 2(15)) Facts The Assessee: A society recognized by the RBI as a Self-Regulatory Organization (SRO) for NBFC-MFIs (Microfinance Institutions). Charitable Claim: The society sought registration under Section 12AB, asserting its objects were for “General Public Utility” (GPU). It highlighted activities such as… Read More »
Condonation of Inordinate Delay (2345 Days) and the Standard of ‘Sufficient Cause’ under Section 254 Facts The Assessment: For AY 2012-13 and 2014-15, the Assessing Officer (AO) made significant additions under Section 68 regarding unexplained unsecured loans and credits. First Appeal: The Commissioner (Appeals) confirmed these additions because the Assessee failed to appear or produce… Read More »
Eligibility of Section 80G Deduction for CSR Expenses (PM & CM Relief Funds) Facts The Assessee: A corporate entity (Company) that incurred expenditure towards Corporate Social Responsibility (CSR) as mandated under Section 135 of the Companies Act, 2013. The Donations: During the Financial Year 2019-20 (AY 2020-21), the company made donations to the Prime Minister’s… Read More »
Eligibility for Section 54F Exemption when New Property is Registered in a Relative’s Name Facts The Transaction: The Assessee, an NRI, sold five villas for approximately Rs. 5.26 crores and invested the proceeds into a new residential house to claim exemption under Section 54F. The Registration: Due to his inability to travel to India at… Read More »
Validity of Section 54 Exemption Based on Possession via Unregistered Agreement to Sell (Section 53A of TOPA) Facts The Transaction: The Assessee sold a residential property and claimed a deduction under Section 54 of the Income-tax Act by investing the proceeds into a new residential house. The Acquisition: The new property was acquired through an… Read More »