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Direct Tax Insights: Expert Analysis and Updates

Vodafone Idea Sale & Leaseback: Tax Planning or Colourable Device?

Issue Involved Whether sale and lease back transaction are permissible as a part of tax planning? Facts of the Case The assessee had claimed lease rent as revenue expenditure. The AO disallowed the same as being a colourable device adopted by the assessee as the same has not been well substantiated by the assessee with […] Print

Team Counselvise-October 02, 2025

Income Tax

free

Reassessments Need Solid Reasons and Not Just Assumptions

One of the most contested issues in tax law is the power of the Assessing Officer (AO) to reopen assessments. Sections 147 and 148 of the Income-tax Act grant this power, but it comes with a safeguard: the AO must have “reasons to believe” that income has escaped assessment.The recent decision in ITO v. Kapil […] Print

Team Counselvise-October 01, 2025

Income Tax

free

CAAS Writ Petition: Gujarat HC Questions CBDT on Due Date Extensions and Compliance Gaps

On 26th September 2025, the Hon’ble Gujarat High Court heard the writ petition filed by the Chartered Accountants Association, Surat (CAAS) in the matter of CAAS v. Union of India. Listed at Serial No. 9, the petition raised concerns that go far beyond the routine prayer for extensions of filing deadlines. The Core Issues Raised […] Print

Team Counselvise-September 26, 2025

Income Tax

free

Section 37 vs 69C: ITAT Clarifies the Right Tool for Disallowance

Issue Involved Whether disallowance u/s. 37 is tenable where AO has not doubted the nature and source of purchases expenditure and addition is made solely on the basis of genuineness of expenditure? Facts of the Case The assessee’s case was reopened u/s 148 on the basis of the allegation that the assessee had claimed purchases […] Print

Team Counselvise-September 26, 2025

GST

free

Why Your Health & Life Insurance Premiums May Not Fall as Much as You Think

When the Goods and Services Tax (GST) was introduced back in July 2017, it was celebrated as India’s most ambitious tax reform since independence. The idea was to unify India’s fragmented indirect tax system into “one nation, one tax.” But in practice? Multiple slabs, frequent disputes over classification, high compliance costs, and uneven burdens across […] Print

Team Counselvise-September 25, 2025

Income Tax

free

Granting Development Licence Without Possession Not a ‘Transfer’ Under Section 2(47)

Issues Involved Whether granting license to permit construction of land without giving any possession in land considered as transfer u/s. 2(47)? Facts of the Case Arguments of the Appellant (Assessee) Arguments of the Respondent (Revenue) The Ld. Counsel for the Revenue, urged that since development agreement was signed during period under consideration, property was said […] Print

Team Counselvise-September 24, 2025

Income Tax

free

Payments to Foreign Attorneys for IP Services Are Professional Fees, and Not FTS

Issues Involved Whether payments remitted by Indian law firms to an NR foreign attorney towards filing, prosecution and maintenance of overseas intellectual property (IP) matters for Indian clients—are taxable in India as “fees for technical services” (FTS) or “professional services” (FPS)? Facts of the Case Arguments of the Appellant (Assessee) Arguments of the Respondent (Revenue) […] Print

Team Counselvise-September 24, 2025

Income Tax

free

ESOP Taxation in Corporate Restructuring: Insights from Flipkart–PhonePe

Introduction: ESOPs are structured as rights, not obligations, granted by companies to employees to purchase shares at a future date at a pre-agreed price. These rights vest over time and can be exercised upon meeting certain conditions. The life cycle of an ESOP generally involves the following stages: 1. Grant: The option is granted to […] Print

Team Counselvise-September 22, 2025

GST

free

Assignment of Leasehold Rights Equals Sale of Land, Not Liable to GST : Gujarat HC Rules

Issue involved Whether assignment of leasehold rights qualify as supply of services for the purpose of levy of GST? Facts of the case Arguments of the Appellant (Assessee) Arguments of the Respondent (Revenue) Decision of the Court The ownership includes rights such possession, enjoyment of income from, alienation, and recovery any right from the one […] Print

Team Counselvise-September 18, 2025

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Direct Tax

Direct Tax

Indirect Tax

Corporate Law

Other Links

Direct Tax Insights: Expert Analysis and Updates

Vodafone Idea Sale & Leaseback: Tax Planning or Colourable Device?

Reassessments Need Solid Reasons and Not Just Assumptions

CAAS Writ Petition: Gujarat HC Questions CBDT on Due Date Extensions and Compliance Gaps

Section 37 vs 69C: ITAT Clarifies the Right Tool for Disallowance

Why Your Health & Life Insurance Premiums May Not Fall as Much as You Think

Granting Development Licence Without Possession Not a ‘Transfer’ Under Section 2(47)

Payments to Foreign Attorneys for IP Services Are Professional Fees, and Not FTS

ESOP Taxation in Corporate Restructuring: Insights from Flipkart–PhonePe

Assignment of Leasehold Rights Equals Sale of Land, Not Liable to GST : Gujarat HC Rules