CACommunityIndia

ODI under Automatic Route vs Approval Route – Practical Insights https://taxguru.in/rbi/odi-automatic-route-approval-route-practical-insights.html Summarizing RBI's New OI Regime (FEMA 2022) for Overseas Direct Investment. Key limits, mandatory reporting (UIN, APR, FLA), and when to use the Automatic or Approval Route. The post ODI under Automatic Route vs Approval Route – Practical Insights (https://taxguru.in/rbi/odi-automatic-route-approval-route-practical-insights.html) appeared first on TaxGuru (https://taxguru.in/).

Groww IPO: A Landmark Moment in India’s ESOP Evolution https://taxguru.in/corporate-law/groww-ipo-landmark-moment-indias-esop-evolution.html Groww's IPO (Nov 4-7, 2025) will unlock ₹2,500 crore in employee ESOP wealth. The event signals the maturation of the ESOP ecosystem, driving talent retention and wealth creation in Indian tech. The post Groww IPO: A Landmark Moment in India’s ESOP Evolution (https://taxguru.in/corporate-law/groww-ipo-landmark-moment-indias-esop-evolution.html) appeared first on TaxGuru (https://taxguru.in/).

Share Premium Tax Addition Remanded for Selective Evidence Acceptance https://taxguru.in/income-tax/share-premium-tax-addition-remanded-selective-evidence-acceptance.html The ITAT Delhi set aside a Section 56(2)(viib) addition, ruling that the CIT(A) acted improperly by selectively accepting valuation evidence for one issue (Sec. 68) but rejecting it for the share premium issue. The matter was remanded for a fresh review of the valuation evidence, establishing that all relevant material must be considered fairly. The post Share Premium Tax Addition Remanded for Selective Evidence Acceptance (https://taxguru.in/income-tax/share-premium-tax-addition-remanded-selective-evidence-acceptance.html) appeared first on TaxGuru (https://taxguru.in/).

Penalty was quashed as Revenue could not treat sale price as ‘Tax Inclusive’ without Proof https://taxguru.in/income-tax/penalty-quashed-revenue-treat-sale-price-tax-inclusive-proof.html Penalty of Rs. 25.53 Cr. on Hindustan Coca-Cola was quashed as assessee had not collected any amount by way of sales tax during the exemption period, and the Revenue’s assumption of implicit tax collection was unsustainable. The post Penalty was quashed as Revenue could not treat sale price as ‘Tax Inclusive’ without Proof (https://taxguru.in/income-tax/penalty-quashed-revenue-treat-sale-price-tax-inclusive-proof.html) appeared first on TaxGuru (https://taxguru.in/).

CBIC Notifies Voluntary Post-Clearance Customs Revision Regulations https://taxguru.in/custom-duty/cbic-notifies-voluntary-post-clearance-customs-revision-regulations.html CBIC allows voluntary post-clearance revision of Bill of Entry/Shipping Bills via new regulations (Sec 18A). Importers and exporters can correct errors; Rs.1,000 fee applies. The post CBIC Notifies Voluntary Post-Clearance Customs Revision Regulations (https://taxguru.in/custom-duty/cbic-notifies-voluntary-post-clearance-customs-revision-regulations.html) appeared first on TaxGuru (https://taxguru.in/).

Role of Education and Skill Development in Prisoner Rehabilitation https://taxguru.in/corporate-law/role-education-skill-development-prisoner-rehabilitation.html Learn how academic and vocational training programs in Indian prisons help transform offenders, reduce recidivism, and facilitate their reintegration into society after re-lease. The post Role of Education and Skill Development in Prisoner Rehabilitation (https://taxguru.in/corporate-law/role-education-skill-development-prisoner-rehabilitation.html) appeared first on TaxGuru (https://taxguru.in/).

Addition on “peak purchase” was restricted to differential margin between declared and benchmark profit in Rice Trading Case https://taxguru.in/income-tax/addition-peak-purchase-restricted-differential-margin-declared-benchmark-profit-rice-trading-case.html Addition to the differential margin between the Gross Profit (GP) declared by the assessee and the benchmark rate of 10% adopted as the industry average for rice trading was restricted affirming that a full disallowance of such purchases was not justified when the corresponding sales were accepted by the Revenue authorities. The post Addition on “peak purchase” was restricted to differential margin between declared and benchmark profit in Rice Trading Case (https://taxguru.in/income-tax/addition-peak-purchase-restricted-differential-margin-declared-benchmark-profit-rice-trading-case.html) appeared first on TaxGuru (https://taxguru.in/).

Benami Deal Exposed: Minister-Guaranteed Loan & CRZ Breach Lead to ED Action Upheld https://taxguru.in/rbi/benami-deal-exposed-minister-guaranteed-loan-crz-breach-lead-ed-action-upheld.html  The Appellate Tribunal upheld the ED's attachment of a resort property, ruling it a benami transaction designed to circumvent the law, especially after media scrutiny over CRZ violations. The court found that the beneficial owner’s act of guaranteeing the benamidar's loan used for the property purchase confirmed the beneficial control. The post Benami Deal Exposed: Minister-Guaranteed Loan & CRZ Breach Lead to ED Action Upheld (https://taxguru.in/rbi/benami-deal-exposed-minister-guaranteed-loan-crz-breach-lead-ed-action-upheld.html) appeared first on TaxGuru (https://taxguru.in/).

Export duty of Iron Ore to be charged based on Wet Metric Ton for period prior to 1st May 2022 https://taxguru.in/custom-duty/export-duty-iron-ore-charged-based-wet-metric-ton-period-prior-1st-2022.html CESTAT Chennai held that for the purpose of charging export duty the assessment of Iron Ore for determination of Fe contents shall be made on the basis of Wet Metric Ton for period prior to 1st May 2022. Accordingly, appeals allowed and orders set aside. The post Export duty of Iron Ore to be charged based on Wet Metric Ton for period prior to 1st May 2022 (https://taxguru.in/custom-duty/export-duty-iron-ore-charged-based-wet-metric-ton-period-prior-1st-2022.html) appeared first on TaxGuru (https://taxguru.in/).

ITAT Panaji Remands Agricultural Income Addition as CIT(A) Ignored Evidence https://taxguru.in/income-tax/itat-panaji-remands-agricultural-income-addition-cita-evidence.html The ITAT Panaji sent the disallowance of agricultural income back to the AO for fresh review, finding that the lower authorities ignored substantial documents and confirmations provided by the assessee. The ruling confirms that tax authorities must properly verify factual material and grant a fair hearing before disbelieving a farm income claim. The post ITAT Panaji Remands Agricultural Income Addition as CIT(A) Ignored Evidence (https://taxguru.in/income-tax/itat-panaji-remands-agricultural-income-addition-cita-evidence.html) appeared first on TaxGuru (https://taxguru.in/).

TDS on EDC Payments Not Applicable Under Section 194I: ITAT Delhi https://taxguru.in/income-tax/tds-edc-payments-applicable-section-194i-itat-delhi.html The ITAT Delhi ruled that External Development Charges (EDC) paid by a real estate developer to HUDA are statutory government levies, not payments for the use of land. Following High Court and Supreme Court precedents, the Tribunal confirmed that Section 194I (TDS on rent) is not applicable to EDC payments. The post TDS on EDC Payments Not Applicable Under Section 194I: ITAT Delhi (https://taxguru.in/income-tax/tds-edc-payments-applicable-section-194i-itat-delhi.html) appeared first on TaxGuru (https://taxguru.in/).

In Absence of PE, Software Licence Income Not Royalty Under India-USA DTAA: ITAT Delhi https://taxguru.in/income-tax/absence-pe-software-licence-income-royalty-india-usa-dtaa-itat-delhi.html ITAT Delhi held that payments received by a US company for software licensing and support services cannot be treated as royalty or fees for technical services. Since the assessee had no permanent establishment in India, such income was classified as business profits and held non-taxable under the India-USA DTAA. The post In Absence of PE, Software Licence Income Not Royalty Under India-USA DTAA: ITAT Delhi (https://taxguru.in/income-tax/absence-pe-software-licence-income-royalty-india-usa-dtaa-itat-delhi.html) appeared first on TaxGuru (https://taxguru.in/).

Commercial Deal Also Benami if Benefit Lies Elsewhere: SAFEMA Tribunal https://taxguru.in/rbi/commercial-deal-benami-benefit-lies-safema-tribunal.html The SAFEMA Tribunal upheld the attachment of land registered in a tribal's name, finding it a benami transaction under the amended Act. The ruling confirmed that purchasing restricted tribal land using funds provided by a non-tribal beneficial owner for future commercial resort development is illegal circumvention. The post Commercial Deal Also Benami if Benefit Lies Elsewhere: SAFEMA Tribunal (https://taxguru.in/rbi/commercial-deal-benami-benefit-lies-safema-tribunal.html) appeared first on TaxGuru (https://taxguru.in/).

PCIT Revision Quashed as Allowing 80G Deduction on CSR is a Plausible View https://taxguru.in/income-tax/pcit-revision-quashed-allowing-80g-deduction-csr-plausible-view.html  The ITAT Mumbai set aside the PCIT's revisionary order, holding that the AO's decision to allow Section 80G deduction on voluntarily disallowed CSR expenses was a plausible view. The ruling reaffirmed the Supreme Court principle that Section 263 revision cannot be invoked merely for holding an alternate opinion. The post PCIT Revision Quashed as Allowing 80G Deduction on CSR is a Plausible View (https://taxguru.in/income-tax/pcit-revision-quashed-allowing-80g-deduction-csr-plausible-view.html) appeared first on TaxGuru (https://taxguru.in/).

Resolution plan of Dorni Vinimoy Pvt. Ltd. approved as material irregularity not established https://taxguru.in/company-law/resolution-plan-dorni-vinimoy-pvt-ltd-approved-material-irregularity-established.html NCLAT Delhi held that resolution plan of Dorni Vinimoy Pvt. Ltd. stands approved as material irregularity is not established. Accordingly, appeals are allowed and orders of adjudicating authority set aside. The post Resolution plan of Dorni Vinimoy Pvt. Ltd. approved as material irregularity not established (https://taxguru.in/company-law/resolution-plan-dorni-vinimoy-pvt-ltd-approved-material-irregularity-established.html) appeared first on TaxGuru (https://taxguru.in/).

Trust Surcharge Restricted to 15% as Finance Act Overrides Maximum Marginal Rate https://taxguru.in/income-tax/trust-surcharge-restricted-15-percent-finance-act-overrides-maximum-marginal-rate.html  The ITAT Delhi ruled that the surcharge rate on the residual income of a trust must be restricted to 15%, not 37%. This decision follows the principle that the surcharge rate is governed by the Finance Act provisions, even if the base tax rate is the Maximum Marginal Rate (MMR). The post Trust Surcharge Restricted to 15% as Finance Act Overrides Maximum Marginal Rate (https://taxguru.in/income-tax/trust-surcharge-restricted-15-percent-finance-act-overrides-maximum-marginal-rate.html) appeared first on TaxGuru (https://taxguru.in/).

Refund claim of excess CVD filed after one year is rejected as time barred https://taxguru.in/custom-duty/refund-claim-excess-cvd-filed-year-rejected-time-barred.html CESTAT Delhi held that refund claim of excess CVD paid after completion of one year from date of payment of duty as well as the date of relevant judgement is barred by limitation. Accordingly, appeal of assessee dismissed. The post Refund claim of excess CVD filed after one year is rejected as time barred (https://taxguru.in/custom-duty/refund-claim-excess-cvd-filed-year-rejected-time-barred.html) appeared first on TaxGuru (https://taxguru.in/).

ITAT Delhi Allows Carry Forward of Capital Loss on Sale of Shares Despite Section 10(38) Exemption https://taxguru.in/income-tax/itat-delhi-carry-capital-loss-sale-shares-section-1038-exemption.html The ITAT upheld the classification of a Rs.5 crore loss on the sale of shares as a capital loss, not a business loss, because the NBFC consistently held the shares as non-current investments for over three years. The Tribunal emphasized that the assessee's accounting treatment and the mandated sale under Supreme Court directions confirmed the investment motive. The post ITAT Delhi Allows Carry Forward of Capital Loss on Sale of Shares Despite Section 10(38) Exemption (https://taxguru.in/income-tax/itat-delhi-carry-capital-loss-sale-shares-section-1038-exemption.html) appeared first on TaxGuru (https://taxguru.in/).

Proceedings u/s. 95 of IBC not vitiated as demand notice duly served to personal guarantors https://taxguru.in/company-law/proceedings-u-s95-ibc-vitiated-demand-notice-duly-served-personal-guarantors.html NCLAT Chennai held that demand notice has been duly served on the personal guarantors and hence proceedings under section 95 of the Insolvency and Bankruptcy Code, 2016 cannot be said to be vitiated. Accordingly, order quashed and proceedings remanded back. The post Proceedings u/s. 95 of IBC not vitiated as demand notice duly served to personal guarantors (https://taxguru.in/company-law/proceedings-u-s95-ibc-vitiated-demand-notice-duly-served-personal-guarantors.html) appeared first on TaxGuru (https://taxguru.in/).

Stay Rejected for Non-Payment of 20% Demand: Madras HC Upholds CBDT Guidelines https://taxguru.in/income-tax/stay-rejected-non-payment-20-percent-demand-madras-hc-upholds-cbdt-guidelines.html Rejecting the petitioner's request to keep recovery in abeyance, the Madras HC directed the assessee to comply with the mandatory 20% pre-deposit for AY 2019-2020. Failure to pay will result in the initiation of coercive recovery measures. The post Stay Rejected for Non-Payment of 20% Demand: Madras HC Upholds CBDT Guidelines (https://taxguru.in/income-tax/stay-rejected-non-payment-20-percent-demand-madras-hc-upholds-cbdt-guidelines.html) appeared first on TaxGuru (https://taxguru.in/).