Tax update • Published on December 20, 2023
The Supreme Court in its recent ruling in the case of CIT v. Jindal Steel & Power Ltd.1 dealt with the issue being faced by captive power plants in determining the fair market value for the purpose of Section 80-IA....Read more
Article • Published by Taxmann on April 27, 2023
Demystifying EPC contracts and its key considerations from AOP perspective
What is an EPC Contract?
EPC stands for Engineering, Procurement, and Construction - a type of construction contract commonly used in the engineering industry where a single contractor is responsible for the entire project.....Read more
Tax update • Published on April 04, 2023
The answer is “No”. The Delhi High Court in its recent ruling in the case of OYO Hotels and Homes Pvt. Ltd. v. DCIT held that the income-tax authorities cannot withhold tax refund due to an assessee merely on the account that scrutiny assessment has been initiated.....Read more
Article • Published on March 22, 2023
Additional claim of tax deductions or exemptions before income tax authorities, possible or not?
Taxpayers sometimes fail to claim or short claim certain deductions or exemptions in their income tax return. Also, there may be cases where an additional claim could have been made for a particular deduction or exemption on account of retrospective amendment/ judicial pronouncement or any other reason after expiry of time limit to revise tax return.....Read more