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Blog, News, Income Tax

February 12, 2026

M2M loss arising on valuation of forward contract on closing date of accounting year allowable as business loss: ITAT

Case Details: VVF (India) Ltd. … Continue reading “M2M loss arising on valuation of forward contract on closing date of accounting year allowable as business loss: ITAT”

Blog, News, Insolvency and Bankruptcy Code

February 18, 2026

Act of financial creditor-Bank to adjust corporate debtor’s credit balance in cash towards debit balance couldn’t be justified

Case Details: Bank of India … Continue reading “Act of financial creditor-Bank to adjust corporate debtor’s credit balance in cash towards debit balance couldn’t be justified”

News, Blog, Insolvency and Bankruptcy Code

February 17, 2026

‘New’ MSME criteria to apply even under Liquidation: Scheme 230 Revival for dead Corporare Debtor

[2021] 130 taxmann.com 416 (Article) … Continue reading “‘New’ MSME criteria to apply even under Liquidation: Scheme 230 Revival for dead Corporare Debtor”

Blog, News, Income Tax

February 17, 2026

Assessment Orders u/s 144C(1) incurably Defective and Illegal if they don’t comply with Non-Obstante Provisions

Ashutosh Mohan Rastogi, Dhruv Seth … Continue reading “Assessment Orders u/s 144C(1) incurably Defective and Illegal if they don’t comply with Non-Obstante Provisions”

Blog, News, Income Tax

February 24, 2026

AO can’t reduce sum waived by seller from WDV of machinery after lapse of several AYs: ITAT

Case Details: Shapers India Private … Continue reading “AO can’t reduce sum waived by seller from WDV of machinery after lapse of several AYs: ITAT”

Blog, News, GST & Customs

February 17, 2026

Service of beautification of streets under Smart Cities Mission is a composite supply of works contract & taxable at 12%: AAR

Case Details: Authority for Advance … Continue reading “Service of beautification of streets under Smart Cities Mission is a composite supply of works contract & taxable at 12%: AAR”

Blog, News, GST & Customs

February 24, 2026

Amendments introduced in CGST Rules based on 45th GST Council Meeting recommendations, and its implications

Taxmann Indirect Tax Research and … Continue reading “Amendments introduced in CGST Rules based on 45th GST Council Meeting recommendations, and its implications”

Blog, News, GST & Customs

February 24, 2026

Government notified conditions and restrictions relating to ROSCTL scheme under Customs laws

Notification No. 77/2021-Customs (N.T.), dated … Continue reading “Government notified conditions and restrictions relating to ROSCTL scheme under Customs laws”

Blog, News, GST & Customs

February 24, 2026

CBIC issued clarification on refund of tax paid under wrong head

Circular No. 162/18/2021-GST dated September … Continue reading “CBIC issued clarification on refund of tax paid under wrong head”

News, Blog, GST & Customs

February 24, 2026

‘No Interest on inadmissible ITC Availed, Until Utilised’ – A Move Provoked by Recent Judicial Precedents?

Rajat Chhabra and Ketan Tadsare … Continue reading “‘No Interest on inadmissible ITC Availed, Until Utilised’ – A Move Provoked by Recent Judicial Precedents?”