Summary: The shift to faceless tax assessments raised a fundamental question of who can initiate the reopening of an assessment? While several high courts have held that jurisdictional assessing officers can no longer issue reopening notices, others have recognised their
Summary: The India–New Zealand FTA offers significant trade opportunities, but tariff benefits depend on meeting origin rules, customs verification requirements and applicable quota conditions. Robust records, reliable supplier commitments and carefully drafted contracts are essential to secure these benefits and
Summary: In a recent decision, the Supreme Court held that a taxpayer cannot ordinarily make a fresh claim for the first time before an appellate or revisional authority without having filed a revised return of income within the time prescribed
Summary: The 57th GST Council meeting has recommended a set of structural reforms aimed at addressing long-standing pain points in the GST framework that have constrained business operations. The recommendations collectively seek to unlock working capital by broadening the scope
Summary: The New Delhi Declaration adopted at the 18th BRICS Summit signals progress on customs cooperation and regulatory alignment, but its real test lies in whether it can deliver lower tariffs, fewer non-tariff barriers, and faster market access for exporters.
Summary: Two recent rulings, by the Delhi ITAT and the Delhi High Court, reached opposite conclusions on the same question: Who is the real employer of seconded personnel? Although arising in different contexts, both referred to factors established in the
Summary: The Gujarat High Court’s ruling on corporate guarantees is not merely about whether GST is payable. It is about the limits of statutory fiction, the sanctity of commercial reality and the constitutional discipline that must govern taxation.
Summary: The Income-tax Appellate Tribunal has clarified that consideration received on the buy-back of vested but unexercised stock options is taxable as long-term capital gains, and not as a salary perquisite, providing significant relief to employees participating in the ESOP
Summary: CA certificates are governed by the relevant statutory provisions. CAs must issue them in accordance with the professionalism outlined in the ICAI’s code of conduct. Across tax frameworks, such certificates substantiate positions and claims. However, a certificate cannot, on
Summary: Mumbai ITAT in Reliance Foundation Hospital Trust has held that a charitable organisation’s registration cannot be denied merely because of the scale of its operations, sophisticated infrastructure, or substantial receipts. The ITAT examined the scope of enquiry and emphasised
