05 May, 2025
Intro ParagraphBeneficial ownership in partnership capital can validate fund introduction even when legal documentation is incomplete. In a recent Income Tax Appellate Tribunal (ITAT) ruling, the focus shifted from strict procedural adherence to economic reality. This blog explains the case, its implications, and practical takeaways for Indian firms. Why This ITAT Ruling Matters The ITAT’s […]
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Weekly GST & Tax Communique – May 05, 2025 Keeping up with weekly GST updates and direct tax developments is crucial for every Indian taxpayer and consultant. Here’s a simplified roundup of key developments from April 29 to May 05, 2025—covering new notifications, case laws, and practical tax implications. CBIC Notifications & GST Clarifications 1. […]
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Transfer Pricing Disputes: Why Accurate Cost Allocation MattersIn a significant win for multinational companies operating in India, Integrated Global Services (IGS) successfully defended its inter-company service pricing before the Income Tax Appellate Tribunal (ITAT). The case revolved around transfer pricing—a method used by MNCs to price services, goods, or IPs exchanged between group entities across […]
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Gold Kada Is a Personal Effect: HC Ruling Simplifies Baggage Law Travelling with gold jewellery often triggers scrutiny at Indian airports—but when is it exempt from customs duty? In a recent case, the Punjab & Haryana High Court ruled that a gold religious kada carried by a passenger qualifies as a personal effect under Baggage […]
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Mismanagement Claims Dismissed: What Indian Business Owners Must Learn In a recent judgment, the National Company Law Tribunal (NCLT) dismissed a petition alleging mismanagement and oppression under Sections 241 and 242 of the Companies Act, 2013. The key takeaway? Courts demand clear evidence, not assumptions. This case is a wake-up call for promoters and minority […]
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Introduction:JSW resolution plan rejected — a landmark Supreme Court decision has rattled India’s insolvency landscape. The case of Bhushan Power and Steel Limited (BPSL) shows how non-compliance with the Insolvency and Bankruptcy Code (IBC) can overturn even high-profile bids. Here’s a simplified breakdown of what went wrong, the legal reasoning, and what this means for […]
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Service Tax on Reimbursable Expenses: What CESTAT Ruled When can a reimbursed cost be taxed as a service?This was the core issue in a recent CESTAT case that offered much-needed clarity for taxpayers facing service tax disputes. Background of the Dispute 🔍 CESTAT’s Key Observations Here’s what the Tribunal said: Legal Provision Tribunal View Section […]
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Intro Paragraph: The ruling clarified how loan funds used for charitable purposes and the nature of training provided can influence tax liability and exemptions under GST. What Was the Issue? A registered trust engaged in skill development activities received a demand from the department alleging that their services were commercial in nature and not eligible […]
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Intro:The GST Amnesty Scheme Delhi 2025 is set to offer a major compliance reset for local traders. Announced by the Delhi Chief Minister, this one-time scheme aims to resolve pending GST liabilities and ease the burden on small businesses. What is the GST Amnesty Scheme Delhi 2025? A special one-time settlement scheme proposed for traders […]
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India Needs a Faceless GST System: ₹80,000 Cr in Dispute The faceless GST system is back in the spotlight after Delhi CM Rekha Gupta flagged pending GST dues worth ₹80,000 crore. In her recent address, she urged the Centre to adopt a faceless GST system similar to the Income Tax Department’s model, citing transparency and […]
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