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Section 43CB Mandates Percentage Completion Method for Real Estate Developers: Mumbai ITAT Confirms Additions | Faithfull Developers v. ACIT (ITAT Mumbai, 2025)
Section 43CB percentage completion method mandatory for real estate business; Confirms additions
Mumbai ITAT dismisses Assessee’s appeal observing that the CIT(A) rightly held that the provisions of Section 43CB is ap...
Supreme Court Allows Non-Compete Fee as Revenue Expenditure u/s 37(1); Reverses High Court View, Matters Remanded to ITAT | SC Ruling (19 Dec 2025)
Non-compete fee allowable revenue expense under section 37(1); Reverses High Court ratio
December 19, 2025Supreme Court reverses High Court judgment, holds that non-compete fee payment is allowable revenue expense under...
Bombay High Court Admits Revenue’s Appeal on Jurisdictional Bar u/s 124(3) & Additional Grounds: ITAT’s Quashing of 143(3) r.w.s. 144C Proceedings Put to Test | PCIT, Pune v. Fiat India Automobiles (P) Ltd. (Bom HC, 2025)
High Court : Admits Revenue’s appeal on substantial questions of law involving jurisdictional issue
Bombay High Court admits Revenue’s appeal on jurisdictional issue in case of Fiat India Automobiles (P) Ltd; High C...
Bogus Political Donations Returned After Commission: Delhi ITAT Denies Section 13A Exemption, Taxes 6% as Income u/s 56(1) | Public Political Party v. DCIT (ITAT Delhi, 2025)
Denies benefit under section 13A to political party as bogus donation returned to donors after deducting commission
Delhi ITAT partly allows Assessee’s appeal observing that the addition under section 68 cannot be sus...
India’s First Smell Trademark Accepted by CGPDTM: Sumitomo Rubber Case Marks a New Era for Non-Conventional Trademarks | Olfactory Trademark under Trade Marks Act, 1999
India’s First Smell Trademark: A Landmark Step in Indian Trademark LawIn a historic and precedent-setting development, the Controller General of Patents, Designs & Trademarks (CGPDTM), India, on 21 November 2025, a...
Foreign Tax Credit Cannot Be Denied When Form 67 & Revised Return Filed Within Time – Delhi ITAT in DCIT v. Malvinder Mohan Singh [TS-1637-ITAT-2025 (Del.)]
The case of the Assessee was selected for Limited Scrutiny on the issue that Double Taxation Relief was claimed under sections 90/91 of the Income-tax Act, 1961 and the Assessee was holding foreign assets.During the cour...
Govt. introduces the Securities Markets Code, 2025 in Lok Sabha
Govt. introduces the Securities Markets Code, 2025 in Lok Sabha18 December 2025 The Government has introduced the Securities Markets Code, 2025, in the Lok Sabha to consolidate and amend the laws governing the secur...
Migration of UDIN Portal to ICAI DigiCA Platform – Professional Advisory and Briefing
Subject: Migration of UDIN
Portal to ICAI DigiCA Platform – Professional Advisory and BriefingDear Members,This is to inform all members that
the existing UDIN portal of ICAI is being migrated to the ICAI DigiCA
pla...
Revenue Challenges GAAR Panel Order in Vedanta Case; Delhi High Court Stays Order, Lists Writ for Feb 2026 — Vedanta Holdings Mauritius II Ltd. v. CIT (Intl. Taxation)–3, Delhi
Revenue files counter writ in Vedanta GAAR case; High Court hearing in February 2026.The Revenue has filed a counter writ petition challenging the order passed by the GAAR Panel in the case concerning Vedanta Holdings Ma...
Clerical Error in Claiming Wrong Exemption Section Cannot Deny Benefit to Educational Trust: ITAT Agra in Om Charitable Chikitsa Samiti v. AO (Exemption)
Assessee, an educational institution, was registered under section 12AA and was also granted exemption under section 10(23C)(vi). During the year, due to a clerical omission, deduction was claimed under section 10(23C)(i...