Day: January 16, 2026
Expenses incurred on ESOP are allowable as revenue expenditure u/s 37(1) of Income Tax Act – ITAT Delhi In a recent judgment, ITAT Delhi has held that expenses of ESOP is considered as allowable u/s 37(1) of the Act and mere admission of SLP before Supreme Court would …
Compliance history of supplier could not be used to invalidate the genuine business transactions of the buyer especially when the same was supported by documentary evidences – ITAT In a recent judgment, ITAT Chandigarh has held that compliance history of the supplier could not be used to invalidate …
Reassessment quashed as AO issued u/s 148 instead of 153C as reopening was based on incriminating material found during search In a recent judgment, ITAT Pune has quashed the reassessment order as Assessing Officer (AO) should have issued notice u/s 153C instead of notice u/s 148 since the …
Empanelment of Chartered Accountants/Cost Accountant/Legal firm for FEMA & other allied services Engineering Projects (India) Ltd. has invited application for empanelment of Chartered Accountants/Cost Accountant/Legal firm for FEMA & other allied services. Engineering Projects (India) Limited, herein termed as “EPI” was incorporated in 1970 as A Government of …
Individual contract for booking of persons for participation in an event is not “event management” contracts liable to service tax – Supreme Court In a recent judgment Hon’ble Supreme Court has held that Individual contract for booking of persons required for participation in the event are not commonly …
Minor delay should not come in the way of legitimate claim for any deduction if the assessee is otherwise entitled to exemption/deduction – High Court In a recent judgment, Hon’ble Madras High Court has condoned delay of 25 days in filing Audit Report in Form 10B holding that …
SEBI notifies the Securities and Exchange Board of India (Mutual Funds) Regulations, 2026 SEBI notifies the Securities and Exchange Board of India (Mutual Funds) Regulations, 2026. These regulations shall come into force with effect from April 1, 2026 The Regulation provide for Registration of a Mutual Fund and …
Capital gain on sale of unlisted equity shares transferred pursuant to an arrangement impermissible under law, not entitled to exemption under DTAA – SC In a recent judgment, Hon’ble Supreme Court has held that capital gain on sale of unlisted equity shares which were transferred pursuant to an …
CBIC extends export incentives to shipments through Postal Export Bills from 15th January 2026 The Central Board of Indirect Taxes and Customs (CBIC) has extended export-related benefits under the Duty Drawback, Remission of Duties and Taxes on Exported Products (RoDTEP) and Rebate of State and Central Taxes and …
