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Frequently Asked Questions - Amendments in the payments made to Micro and Small Enterprises
Question 1: What is the amendment inserted in the Finance Act 2023? Finance Minister Nirmala Sitharaman, while announcing the Budget for...
Feb 13, 20245 min read
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AAR allows ITC in ‘sale and buyback’ transactions deeming settlement of mutual debts via book adjustment as a valid consideration
Introduction The Hon’ble Authority of Advance Ruling (AAR), West Bengal, has ruled on the eligibility of Input Tax Credit (‘ITC’) in the...
Feb 5, 20244 min read
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ITAT rules in favor of Tata Sons holding them eligible to claim capital loss on account of capital reduction
Introduction The Hon’ble Income Tax Appellate Tribunal (ITAT) Mumbai, held that reduction of share capital shall be deemed to be capital...
Jan 30, 20246 min read
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