By aasklegal
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Jul 17, 2025
ITAT Chennai – No Capital Gains Tax on amount credited to partner’s current account for reduction in profit-sharing ratio upon admission of a new partner
[ITA No.:1088/CHNY/2025] Introduction: In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Chennai has held that the reduction in […]
By aasklegal
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Jul 9, 2025
NO INTEREST PAYABLE IF GST DEPOSITED IN CASH LEDGER BEFORE DUE DATE AND RETURN FILED LATER; AMENDMENT TO RULE 88B(1) HELD CLARIFICATORY: MADRAS HIGH COURT
In the initial phase of GST implementation, several assessees faced procedural and technical challenges which led to delays in filing […]
By aasklegal
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Jul 5, 2025
Assessee justified in withholding Tax at lower rate specified in DTAA upon payment to non-resident; Section 90(2) overrides Section 206AA: Gujarat High Court
CIT vs. Adani Wilmar Limited [2025] 175 taxmann.com 909 (Gujarat) Facts: • The assessee deducted tax at source on royalty […]