Aurtus - INTERIM BUDGET 2024

Capital loss pursuant to capital reduction is allowable to shareholders even if no consideration is received by the shareholders

Waiver of loan not used for acquisition fixed assets to be subject to tax under section 28(iv) since the benefit was not in nature of cash or money

ITAT clarifies that provisions of section 56(2)(x) and Rule 11UA would be inapplicable if company buys back its own shares under the buy back scheme

Delhi HC uphelds overriding effect of IBC on claims raised by tax department for period prior to approval of resolution plan

CBDT amends Safe Harbour Rules for International Transactions w.e.f 01st April 2024

CBIC Instructions navigating taxability on secondment of employees from overseas group entity.

Amendments made to the VAT laws by the States, pursuant to introduction of 101st Constitutional Amendment Act are not enforceable

Notification issued pursuant to 52nd GST Council meeting held on 7 October 2023

Key regulatory changes for companies including issue of shares in demat form by private companies

Recent CBIC clarifications pursuant to 52nd GST Council meeting recommendations

Valuation for determining GST on Corporate Guarantee issued by related person

CBDT amends Rule 11UA in respect of “Angel Tax”

Recommendations by the GST Council in its 52nd meeting held on October 7, 2023

GST on personal guarantee provided by Managing Director of the company

Chennai ITAT rules Cognizant’s Rs. 19,000 Crore buyback through scheme of arrangement to attract DDT

Successor entitled to claim depreciation on actual cost of assets being consideration actually paid to predecessor after revaluation of assets

The Explanation to Rule 89(4) cannot apply retrospectively

ITAT clarifies on scope of the term ‘shares’ in the context of India-Mauritius DTAA, holds that having TRC is sufficient for claiming treaty benefits

Stay granted for proceedings initiated post completion of GST audit, for same period