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Indirect Tax Insights: Expert Analysis and Updates

Indirect Tax
free

Can Agricultural Income of ₹1.44 Crore Be Rejected Based Solely on Online Yield and Price Estimates?

High agricultural income cases often attract scrutiny, especially when the declared figures appear significantly higher than broad market estimates. But can the Revenue discard such income without disproving the evidence furnished by the taxpayer? The Bangalore ITAT addressed this question in ITO vs. Mohammed Farooq Kanana [ITA No. 1509/Bang/2025], involving a mango orchard owner who […] Print

Team CounselviseTeam Counselvise-November 28, 2025
Indirect Tax
free

How HUF Gift to Member is Exempt Under Section 10(2) of the Income-tax Act

Gifts from a Hindu Undivided Family (HUF) to its members often trigger confusion, especially when Assessing Officers try to apply section 56(2)(vii) to tax such receipts. However, the law is clearer than it seems. Section 10(2) offers a specific exemption for precisely these situations, and recent tribunal rulings reaffirm this position. This article breaks down […] Print

Team CounselviseTeam Counselvise-November 27, 2025
Indirect Tax
free

Can a manufacturer claim Input Tax Credit (ITC) on transmission-line assets installed outside the factory premises

Facts of the case:  Arguments of the Appellant (Assessee):  Arguments of the Respondent (Revenue):  The central issue/ argument for/of the revenue would be/ was that whether the transmission infrastructure truly falls within the definition of “plant and machinery”, or whether it should be treated as “immovable property” expressly excluded under blocked credit.  Decision of the Court:  The Gujarat AAR proposed ruling in favor of the applicant. It […] Print

Team CounselviseTeam Counselvise-November 26, 2025
Indirect Tax
free

Can Netflix India be treated like Netflix’s global brain?

In the last few years, India’s tax authorities have increasingly questioned how digital businesses operate within the country. But few cases captured the industry’s attention like the one involving Netflix India. What started as a routine transfer pricing assessment quickly turned into a debate over whether Netflix India was simply a local distributor or the […] Print

Team CounselviseTeam Counselvise-November 24, 2025
Indirect Tax
free

CAs Gain Equal Recognition for ITAT Appointments

The Institute of Chartered Accountants of India (ICAI) recently celebrated a landmark judgment by the Supreme Court of India that marks a significant win for Chartered Accountants in the legal and tax professions. On 20 November 2025, a Supreme Court bench headed by the Chief Justice of India and Justice K. Vinod Chandran invalidated a […] Print

Team CounselviseTeam Counselvise-November 22, 2025
Indirect Tax
free

Does Section 115BAA Override Special Tax Rates?

The central issue before the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) in Maharishi Education Corporation (P.) Ltd. vs. ITO [ITA No. 2639/DEL/2025] was:  Whether a company opting for the concessional tax regime under Section 115BAA is required to pay tax at 22% on its total income, including Long-Term Capital Gains (LTCG), or whether the special rate of 20% under Section 112 continues to apply […] Print

Team CounselviseTeam Counselvise-November 19, 2025
Indirect Tax
free

Can a PCIT introduce new issues in a Section 263 order without mentioning them in the Show Cause Notice? 

1. Issue  The central issue before the Income Tax Appellate Tribunal (ITAT), Delhi Bench ‘B’, was whether the Principal Commissioner of Income Tax (PCIT) validly exercised revisionary jurisdiction under Section 263 of the Income-tax Act, 1961, when:  In simpler terms could the PCIT revise an assessment order merely because he disagreed with the AO’s conclusions, or introduce fresh issues not mentioned in […] Print

Team CounselviseTeam Counselvise-November 17, 2025
Indirect Tax
free

Can “Diary Notings” and “Retracted Statements” Alone Sustain an Addition? 

In appellate tax practice, the truth is simple: a case is only as strong as the evidence that supports it.  In a recent landmark decision, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench, delivered a judgment that every tax professional should take note of. The Tribunal deleted additions totaling ₹4.99 crores that were made solely based on employee-maintained diaries and retracted statements.  The case, The Estate […] Print

Team CounselviseTeam Counselvise-November 14, 2025
Indirect Tax
free

Can Profit Be Taxed Twice on the Same Bogus Purchase? 

When books of accounts are accepted, can the Assessing Officer still tax “profit” on alleged bogus purchases again?  In a recent decision, the ITAT Delhi Bench ‘C’ delivered an insightful order in the case of Kritika Jain vs. ITO, offering clarity on reopening validity, bogus purchase additions, and double taxation of profit elements.  Case in […] Print

Team CounselviseTeam Counselvise-November 12, 2025
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