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No Violation of Principles of Natural Justice if No Relevant Docs Were Produced in Response to SCN | HC
Case Details: St. Alphonsa Trust vs. Assessment Unit - [2025] 172 taxmann.com 235 (Madras) Judiciary and Counsel Details K. Kumaresh Babu, J. T.V. Muthu Abirami, for the Petitioner. K. Parekh Kumar, Sr. Standing Counsel for the Respondent. Facts of the Case The assessee, a charitable trust, was running a Medical College and Hospital. During the assessment […]
CBDT issues Circular on Frequently Asked Questions (FAQs) relating to Revised Guidelines for Compounding of Offences under Income-Tax Act, 1961 dated 17.10.2024
Publish Date : Monday, March 17, 2025 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1222/Press-Release-CBDT-issues-Circular-on-FAQs-relating-dated-17.10.2024.pdf source
GST on Real Estate – Key Rates | Rules | Compliance
GST on Real Estate refers to how the Goods and Services Tax (GST) applies to the buying, selling, and developing of residential and commercial properties in India. Introduced on 1 July 2017, GST replaced various indirect taxes like service tax and VAT, aiming to simplify taxation for the real estate sector—which has traditionally been subject […]
ARC Obligation to Restore Cell Sites to Their Original Condition at End of Lease Period Is Allowable as Business Expense | HC
Case Details: Vodafone Mobile Services Ltd. vs. Deputy Commissioner of Income-tax - [2025] 172 taxmann.com 368 (Delhi) Judiciary and Counsel Details Yashwant Varma & Harish Vaidyanathan Shankar, JJ. Sachit Jolly, Sr. Adv., Ms Soumya Singh, Ms Disha Jham & Abhyudaya Shankar Bajpai, Advs. for the Appellant. Indruj Singh Rai, SSC, Sanjeev Menon, Rahul Singh, JSCs, Anmol Jagg, Gaurav Kumar & Ms Varsha Sharma, […]
Definition of ‘Sikkimese’ for Sec. 10(26AAA) Is Only for Income Tax; Not for Any Other Purpose | HC
Case Details: Dr. Doma T. Bhutia vs. Union of India - [2025] 172 taxmann.com 293 (SIKKIM) Judiciary and Counsel Details Biswanath Somadder, CJ. & Meenakshi Madan Rai, J. Dr. Doma T. Bhutia, for the Petitioner. Ms Sangita Pradhan, Dy. Solicitor General of India, Zangpo Sherpa, Additional Adv. General & S.K. Chettri, Government Adv. for the Respondent. Facts […]
Classification of Perpetual Instruments With Mandatory Coupon Payments Under Ind AS
This document explores the classification of perpetual bonds with mandatory coupon payments under Ind AS 32, Financial Instruments: Presentation. It examines whether such instruments should be categorized as equity or financial liabilities in financial statements. Perpetual bonds, by nature, do not have a maturity date and may exhibit characteristics similar to equity. However, the presence […]
IFSCA Issues Guidelines on ‘Cyber Security and Cyber Resilience’ for Regulated Entities in IFSCs
Circular no. IFSCA-CSDOMSC/13/2025-DCS; Dated: 10.03.2025 IFSCA has issued guidelines on Cyber Security and Cyber Resilience’ for Regulated Entities in IFSCs. The guidelines intend to lay down IFSCA’s broad expectations from its REs. For these guidelines, REs must include any entity which is licensed, recognised, registered or authorised by IFSCA. The key components of the guidelines […]
Provisional B/S Referring to Position as on 30-09-2005 Can’t Be Said to Be Incriminating Material for AY 2004-05 & 2005-06
Case Details: Principal Commissioner of Income-tax (Central)- 3 vs. Ridgeview Construction (P.) Ltd - [2025] 172 taxmann.com 52 (Delhi) Judiciary and Counsel Details Yashwant Varma & Harish Vaidyanathan Shankar, JJ. Indruj Singh Rai, SSC, Sanjeev Menon, Rahul Singh, JSCs, Anmol Jagga & Gaurav Kumar, Advs. for the Appellant. Gautam Jain & Manish Yadav, Advs. for the Respondent. Facts of the Case […]
CBDT Notifies ‘Delhi Building and Other Construction Workers Welfare Board’ for Sec. 10(46) Exemption
Notification no. 18 /2025, dated 06-03-2025 The Central Board of Direct Taxes (CBDT) has notified ‘Delhi Building and Other Construction Workers Welfare Board’, for the purposes of clause (46) of section 10 of the Income-tax Act, 1961. The exemption is available for the following incomes: a) Cess received. b) Registration & Renewal fee received/collected from […]
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