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Earlier this year, the International Financial Services Centre Authority (“IFSCA”) issued a notification (“Notification”) specifying operating leases, including any hybrid of operating...

JPPL was granted a license by the Customs Authorities under the MOOWR Scheme ("MOOWR License") to set up a solar power generating unit within a private bonded warehouse.

The system of taxation imposes levies on the individuals within the territorial jurisdiction of the taxing authority allocated with the said task.

Gist of Notifications issued by CBIC effective from 1 March 2023...

The two-year limitation period prescribed by law for refund claim of tax wrongly paid is merely directory in nature and not mandatory; legitimate refund claim cannot be denied on the ground of limitation.

By way of a recent decision, the Supreme Court of India (‘SC') has dismissed the appeals filed by Hyatt International Southwest Asia Ltd (‘Appellant'), challenging the findings of the Delhi High Court's (‘Delhi HC')...

In a recent ruling pronounced by the Hon'ble Delhi High Court in the case of Equity Intelligence AIF Trust vs the CBDT and Anr, the Court has provided the much-needed tax relief...

The Bangalore bench of the Income Tax Appellate Tribunal in a recent case of M/s Jupiter Capital Pvt. Ltd. v The Assistant commissioner of Income Tax (ITAT order dated 29 November 2018) has allowed the claim for capital loss ...

In a recent ruling, the Jaipur bench of the Income Tax Appellate Tribunal (the "Tribunal") has upheld that there will be no Equalisation Levy on Google advertisement payments made by...

On the occasion of Income Tax Day, the firm's tax team, headed by Ravi S. Raghavan, has compiled noteworthy tax law changes and happenings over the last year.

What will be the fate of an application filed for compounding of offence after one year during the course of prosecution under the Income Tax Act?

In the case of CIT v Clifford Chance Pte Ltd, ITA 353-354/2025, a Division Bench of the High Court of Delhi (High Court) delivered a significant ruling rejecting the theory of virtual presence and held that fees received from India clients by an international law firm is not taxable in India.

The issue of taxability of secondment of employees was more or less settled in the erstwhile service tax regime. However, a disbalance in the position taken by the industry...

Amidst continuing uncertainty regarding the pandemic, the office of the Development Commissioner, Santacruz Electronic Export Processing Zone ("SEEPZ")...

It is therefore important to understand the legal framework, the significance of obtaining the NOC, potential consequences of not obtaining it and the practical approaches generally adopted by the parties in M&A transactions.

In Fireeye Ireland Ltd v ACIT, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) allowed the benefit of the capital gains tax exemption to an Irish tax resident on sale of shares of a US LLC deriving substantial value from India, a transaction commonly referred to as an ‘indirect transfer’. While allowing such exemption, the ITAT relied on Article 13(6) of the India-Ireland Double Taxation Avoidance Agreement (DTAA) which provides that income arising from the alienation of assets is taxable only in the state of which the seller is a resident.

Section 263 of the IT Act empowers senior tax authorities (including the Principal Chief Commissioner, Chief Commissioner, Principal Commissioner, or Commissioner)...

In the case of New Noble Educational Society v. CCIT and Another, 2022 SCC OnLine SC 1458, a three-judge bench of the Hon'ble Supreme Court of India (SC) inter alia...