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Introduction and Case OverviewThe Registrar of Companies (ROC) Kanpur initiated penal proceedings against M/s. Alpha Alliance Technology Private Limited and its directors for failing to file Form DIR-...

1. OverviewThe Gujarat High Court’s decision in Maruti Enterprise Through Its Authorized Partner v. Union of India & Others ([2026] 186 taxmann.com 90, Gujarat) stands out as a landmark judgment under...

Introduction: Evolution of the Benami Law and the ‘Fiduciary Capacity’ ExceptionThe landscape of benami transactions in India underwent a significant shift with the amendment of the Prohibition of Ben...

OverviewCapital gains taxation in India fundamentally operates on the principle that the taxable gain is the difference between the sale consideration and the cost incurred by the assessee in acquirin...

1. Introduction: The Challenge of Transitioning Legacy Reassessment ProceedingsOn 1 April 2026, the Income-Tax Act, 1961 was repealed by virtue of Section 536(1) of the Income-Tax Act, 2025, ushering...

1. Overview1.1 Background and Regulatory ContextThe landscape of corporate governance in India has evolved significantly since the implementation of the Companies Act, 2013. Despite the robust legisla...

Introduction: ESOPs as Employee IncentivesEmployee Stock Option Plans (ESOPs) are primarily designed by companies to reward and motivate employees, aligning their interests with company growth. The in...

1. IntroductionThe transition from the Income Tax Act, 1961 (ITA, 1961) to the Income Tax Act, 2025 (ITA, 2025) was primarily aimed at making tax legislation more accessible and comprehensible for the...

1. Contextual Overview: The Evolution of Foreign Contribution RegulationIndia’s landscape of foreign funding for the not-for-profit sector has witnessed notable changes over the last decade. Organisat...

1. Overview: ITC Apportionment and the GST Dilemmai) Background and ScopeThe allocation and reversal of Input Tax Credit (ITC) under India’s Goods and Services Tax (GST) framework is a challenging are...

Introduction and Legislative BackgroundThe Finance Act, 2021 brought transformative changes to the reassessment procedure under the Income-tax Act, 1961, specifically by revamping Sections 147 to 151....

1. Introduction: Can Designated Persons Subscribe to IPOs?Background Scenario A Ltd, a private company, is preparing to launch its Initial Public Offer (IPO) of equity shares. The IPO is set to open i...

Introduction: Regulatory Scrutiny on Record MaintenanceThe case of M/s. Rashi Steel and Power Limited, headquartered in Bilaspur, Chhattisgarh, highlights the consequences of neglecting statutory reco...

Overview of the Regulatory ShiftThe Indian government has consistently prioritized reform of cross-border trade regulations to facilitate global business operations and remove procedural hurdles. In a...

1. IntroductionBetween October 2025 and April 2026, several significant circulars, notifications, and regulatory directives have been introduced by various Indian regulatory authorities concerning Alt...

OverviewOver recent years, the Goods and Services Tax (GST) legal framework in India has developed clear boundaries between legitimate business supplies and monetary remedies paid due to breach of con...

1. Introduction: Communication Window Facility in Income Tax AppealsThe Enablement of Communication Window, referred to as "the window," is a digital solution implemented by the Income Tax Department,...

Introduction: Understanding Key Provisions for Return FilersTax compliance requires assessees to be aware of pivotal provisions that impact the way unexplained incomes are taxed. Section 107 of the In...

OverviewIn numerous instances, GST authorities have served Show Cause Notices (SCNs) under Section 73 of the Central Goods and Services Tax Act, 2017 (CGST Act) for the financial year 2020–2021 on dat...

Background and OverviewThe development of judicial principles under India’s Goods and Services Tax (GST) regime has continually addressed critical procedural questions. A major issue recently resolved...