It is definitely in the fitness of things that, while taking a very pragmatic approach, the Orissa High Court, in a most learned, laudable, landmark, logical, and latest judgment titled Manoj Kumar ...

Corresponding amendments have been made by the Finance (No.2) Act, 2024 in the provisions under the second regime whereby, ...

Amendments made vide the Finance (No. 2) Act of 2024, Finance (No. 1) Act of 2024 and Finance Act of 2023 in respect of rates ...

In real estate transactions, the gap between circle rate and market value can lead to cash transactions, black money involvement and increasing the risk of tax evasion. To address this, the government ...

Per Ind AS 115, “Revenue from Contracts with Customers”, the revenue recognition process is structured into the following five key steps: Identifying performance obligations (PARA 22 to PARA 45) ...

As mentioned in the clause 121 of the finance bill, 2025 the amendment is proposed in sub-section (2) of Section 34 of the CGST Act, 2017. Let us have a look at the sub-section (2) of Section 34 of ...

The High Court ruled that Section 50C applies only to the transferor of land and not to those with rights in land. Since Namaste Exports Ltd. was the transferor, the court held that Section 50C was ...

State of Jharkhand, has ruled that individuals appointed through a fundamentally flawed and illegal advertisement have no right to continue in their employment. The court’s decision centered on the ...

The Tax Deducted at Source (TDS) rates for FY 2025-26 (AY 2026-27) outline the tax obligations on various payments, including salary, interest, rent, winnings, and professional fees. TDS on salary ...

4. As the appellant is not a signatory to the cheque, he is not liable under Section 138 of the 1881 Act. As it is only the signatory to the cheque is liable under Section 138, unless the case is ...

The issue of notice u/s 143 (2) is mandatory even in reassessment proceedings, hence the reassessment order framed by the Assessing Officer u/s 147 of the Act is not sustainable in the eye of law and ...

4.2 Counsel for the assessee pressing the legal ground vehemently argued that in this case, the escaped income was Rs.12,38,000/- and the assessment year involved is assessment year 2018-19 and ...