The assessee argued that this lack of clarity in the penalty initiation stage rendered the entire proceedings invalid.

The penalty was initiated by the Assessing Officer on the grounds of under-reporting of income due to misreporting. However, the ITAT noted that the penalty notice issued under Section 270A did not ...

By opting for the scheme, the professional gets the following benefits: Income of the professional opting for the scheme will be computed on presumptive basis, i.e. @ 50% of the total gross receipts ...

Treaty-based protections for foreign investors, rooted in International Investment Agreements (IIAs) like Bilateral Investment Treaties (BITs), are undergoing ...

Firstly, will they help to ease the problem of structural delay in the Corporate Insolvency Resolution Process (“CIRP”), a framework designed to resolve the insolvency of corporate debtors? Secondly, ...

This opinion seeks to clarify the applicable indirect tax implications and refund eligibility in case of export of cigarettes under the GST regime, specifically under: – Case 1: Export without payment ...

Biocon Ltd., the Karnataka High Court examined whether discounts on the issuance of Employee Stock Option Plans (ESOPs) qualify as deductible expenses under Section 37(1) of the Income Tax Act, 1961.

In India, insider trading is regulated by the Sebi under the Insider Trading Regulations, 2015. The market regulator can levy fines and prohibit individuals or entities from trading in the capital ...

It’s not easy, though. Rich countries like the U.S. want flexibility; poorer ones want protection. Companies fight transparency; they love the quiet. It’ll take years; 2025’s just talk so far. But ...

It is definitely most refreshing, most reassuring and so also certainly most reinvigorating to learn that while striking the right chord, the Punjab and ...

Delhi High Court has set aside an assessment order issued by the National Faceless Assessment Centre, Delhi, for the Assessment Year 2018-2019, citing a failure to grant a personal hearing to the ...

Tejua Rohitkumar Kapadia, the Gujarat High Court dismissed a tax appeal filed by the Revenue challenging an order of the Income Tax Appellate Tribunal (ITAT) dated January 16, 2017. The core issue ...