ITAT: Sec. 43CB percentage completion method mandatory for real estate business; Confirms additions

• In Favour of Revenue
• Citation Number : TS-1683-ITAT-2025(Mum)

Tax Beats #15 - Income-tax Act, 2025 Distilled with Karanjot Singh Khurana

SC : Non-compete fee allowable revenue expense u/s 37(1); Reverses HC ratio

ITAT: Sec. 112(1)(c)(iii) governs Sec. 48 provisos; Upholds lower TDS rate of 10% on foreign remittances

• In Favour of Assessee
• Citation Number : TS-1682-ITAT-2025(Mum)

SC: “Bail is accused’s qualified right before conviction”; Directs DHFL ex-promoters’ release in fund-siphoning case

HC: SEBI Adjudicating Officer appointment an "administrative step", not a quasi-judicial pre-condition

Revenue Counsel continues arguments in Mastercard case; Emphasises on activities performed by India Subsidiary

CCI to probe IndiGo over complaint against widespread flight disruptions

ITAT: Allows TDS credit to Assessee, although corresponding income declared by Sister concern

• In Favour of Assessee
• Citation Number : TS-1679-ITAT-2025(DEL)

ITAT: Denies benefit u/s 13A to political party as bogus donation returned to donors after deducting commission

• In Favour of Assessee
• Citation Number : TS-1678-ITAT-2025(DEL)

HC: ‘Contact Us’ page can confer territorial jurisdiction; Refuses to return Sun Pharma’s TM-infringement plaint

ITAT: Quashes final assessment orders passed beyond limitation, including extended time u/s.153(4)

• In Favour of Assessee
• Citation Number : TS-756-ITAT-2025(HYD)-TP

ITAT: Quashes final assessment orders as passed beyond limitation, follows precedents

• In Favour of Assessee
• Citation Number : TS-755-ITAT-2025(HYD)-TP

ITAT: Holds AO passed final assessment order beyond Sec.153 time limit; Quashes same

• In Favour of Assessee
• Citation Number : TS-754-ITAT-2025(HYD)-TP

ITAT: Quashes final assessment order passed beyond upper time limit provided u/s.153(1) and 153(4)

• In Favour of Assessee
• Citation Number : TS-753-ITAT-2025(HYD)-TP

ITAT: Quashes time-barred assessment order; Considers pendency of issue before SC in Shelf Drilling case

• In Favour of Assessee
• Citation Number : TS-752-ITAT-2025(HYD)-TP

DGFT clarifies IMS procedure for IT-hardware, revises Chemical products SION, restricts Clavulanate imports

Distilling India's New Labour Codes - Part II

France : Senate Adopts Heavily Amended Finance Bill 2026 in First Reading

SC: “Arbitral process must proceed unhindered”; No review/appeal lies against arbitrator-appointment order