The Supreme Court has stayed a landmark High Court ruling that struck down Section 147A of the Income-tax Act, halting reassessment proceedings and reigniting the debate over localized versus faceless tax administration.
The Supreme Court has directed the Union of India to sympathetically consider a 60-day tax exemption for seafarers stranded in the country during the COVID-19 pandemic, highlighting the ongoing tension between rigid statutory residency limits and force majeure events.
Tata Steel's landmark Supreme Court victory quashing a ₹1,781 crore tax and penalty demand highlights the critical compliance battlegrounds of ITC timing and Section 74 proceedings.