SC Clarifies IT Deduction u/s 36(1)(viii) in NCDC Case
Supreme Court rules that only profits directly derived from long-term loans qualify for Section 36(1)(viii) deduction. Dividend, bank interest, service fees excluded.
Tag: Case Laws
Delhi HC Warns Tax Departments on AI Hallucinations in Tax Notices
Delhi HC cautions tax authorities to verify AI-generated citations in GST/IT notices. AI aids tax research but needs human oversight.
DTAA Rate Prevails over 20% TDS Without PAN Payments to Foreign Companies: SC
Supreme Court rules on 25 Nov 2025 that DTAA rates (10–15%) apply over Section 206AA’s 20% TDS even if foreign vendor has no PAN. Big relief for IT companies …
Madras HC Quashes Wrong GST Demand: A Simple Breakdown for Businesses
Madras HC sets aside a wrong GST demand raised despite full tax payment. Read how the Court clarified interest liability, corrected the excess demand, and directed immediate lifting of …
Madras High Court Removes Penalty for Delayed ITC Reversal on Obsolete Stock
The Madras High Court has passed a helpful ruling for businesses dealing with old or slow-moving stock. In the case GE T&D India Ltd. v. Deputy Commissioner of GST …
GST Assessment Order Invalid Due to Missing DIN: AP HC
AP HC rules GST assessment order invalid for lacking a DIN. Understand the impact of missing DIN based on CBIC circulars & court precedents.
Landmark SC Judgment: No Section 271C Penalty on Delayed TDS Remittance
Discover the implications of the Supreme Court's ruling in the US Technologies International Pvt. Ltd. vs CIT case, which clarifies penalties u/s 271C for delayed TDS deposits.
Delhi HC Upholds GST on App-Based Autorickshaw Rides (Uber/Ola)
Delhi High Court upholds GST on autorickshaw rides booked through ride-sharing apps like Uber and Ola, dismissing claims of discrimination and unreasonable classification.