GST on Ads Gone, But Hoarding Licence Fees Stay: Bombay HC Backs Municipal Powers
The Bombay High Court has ruled that the abolition of GST on advertisement tax does not restrict municipal corporations from levying licence fees on...
Foreign Companies’ Head Office Expenses for Indian Business Subject to Deduction Under Section 44C of the Income Tax Act, 1961
The Supreme Court of India has ruled that expenses incurred by foreign companies at their overseas head offices, insofar as they relate to business...
Deduction under Section 36(1)(viii) Restricted to Profits from Long-Term Finance; No Benefit for Incidental Income
In a significant ruling, the Supreme Court has clarified that the income-tax deduction under Section 36(1)(viii) of the Income-tax Act is strictly limited to...
Centre Highlights GST Reforms in Coal Sector, Says Tax Rationalisation Will Lower Power Costs
The Central Government on Friday elaborated on the implications of the Goods and Services Tax (GST) reforms for the coal sector, following queries raised...
CESTAT Mumbai Rules NPV-Settled Sales Tax Cannot Be Added to Excise Value
Mumbai: In a significant ruling, the CESTAT Mumbai has held that sales tax deferred under a state incentive scheme—and subsequently discharged by paying its...
