Introduction The Hon’ble Supreme Court (“SC”) held that non-compete fees are in the nature of revenue expenditure and thus, are eligible for deduction as per the Income Tax Act, 1961…
Introduction
In a landmark and path-breaking judgment, the Hon’ble Bombay High Court in M/s Colorcon Asia Pvt. Ltd. v. Joint Commissioner of Income Tax & Ors.[1] has conclusively addressed the…
Introduction
The Hon’ble Supreme Court, in Director of Income Tax (IT)-I, Mumbai v. M/s American Express Bank Ltd[1] (Civil Appeal Nos. 8291 of 2015), has authoritatively settled the long‑standing controversy…
Introduction
The Hon’ble Delhi High Court (“HC”) in the case of M/s. Imagine Marketing Limited Vs. Joint Commissioner CGST Appeals II Delhi & Anr1restored the GST registration of M/s. Imagine…
GSTN (Goods and Services Tax Network) has issued consolidated FAQs to provide comprehensive clarity on the filing of GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) for FY 2024-25. The FAQs…
Introduction
The Hon’ble Delhi Income Tax Appellate Tribunal (“ITAT”) held that compensation received pursuant to an arbitral settlement for relinquishment of the right to sue constitutes a capital receipt. The…
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The Hon’ble Income Tax Appellate Tribunal, Delhi Bench (“ITAT”) in the case of FIVD India Consulting Pvt. Ltd. vs. Deputy Commissioner of Income Tax[1] has held that while filing…
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The Hon’ble Delhi High Court (‘HC’) recently upheld the Income Tax Appellate Tribunal’s (‘ITAT’) ruling in favour of UK-based law firm Clifford Chance (‘Assessee’), holding that the firm did…
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The Hon'ble Principal Bench of National Company Law Appellate Tribunal (“NCLAT”) at New Delhi, has upheld the order of the National Company Law Tribunal (“NCLT”) Mumbai, allowing selective reduction…
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The Hon’ble Income Tax Appellate Tribunal, Ahmedabad (“ITAT”), in the case of Rajsheel Jitendra Patel vs. ITO (International Taxation), Ahmedabad1 (AY 2019-20) upheld that a documented and registered transfer…
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The Hon’ble Delhi High Court (“the Court”) imposed costs of INR 1 lakh on the Assessee for failing to attend multiple personal hearings, as a condition for setting aside…
Input tax credit disallowed on GST charged for period before vendor’s effective date of registration
Introduction
The Hon’ble Kerala Authority for Advance Ruling (“the AAR”) upheld that the Input Tax credit (“ITC”) cannot be claimed by Applicant with respect to GST pertaining to a period…
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The Hon’ble Income Tax Appellate Tribunal, Kolkata (“ITAT”) in the case of Ajay Kumar Goel Vs. DCIT, Circle-52(1), Kolkata[1]upheld that the Assessee cannot be fastened with the responsibility of…
Introduction The Hon’ble Income Tax Appellate Tribunal (“ITAT”) of Delhi has ruled that where a domestic company opts for the concessional tax rate of 22% under section 115BAA of…
The Goods and Services Tax (GST) Council at the 56th GST Council Meeting on Wednesday collectively agreed to the proposals of the Union Government on GST rate cuts and reforms,…
Launching Aritra Partners is more than a change of brand and logo; it is the expression of a twelve-year journey that has transformed three professionals in a shared workspace into…
Introduction
The Hon’ble Gujarat High Court (‘HC’) recently pronounced a judgment on the eligibility to claim Input Tax Credit (‘ITC’) in cases where the supplier has failed to deposit tax…
Understanding how to value unquoted equity shares is crucial for tax compliance in India. This guide explains the Book Value Valuation Method under Rule 11UA of the Income Tax Rules,…
India has become a significant hub for SaaS and cloud services, fostering a dynamic ecosystem of startups that offer specialized cloud solutions across diverse industry segments. When engaging with clients…
We are thrilled to announce that we have successfully represented Blume Ventures in $4 million seed round funding of Billion Hearts Software Technologies Private Limited, which is an innovative consumer…
The healthcare sector in India is undergoing a transformative journey, and Aritra Partners are proud to play a pivotal role in supporting this change. We are thrilled to announce that…
Introduction
The Hon’ble Himachal Pradesh High Court (“HC”) has recently issued a significant ruling in the case of M/s Pr. Commissioner of Income Tax-1, Chandigarh Versus M/s. I.A. Hydro Energy…
Round-tripping is often pitched as a smart way to structure global operations, attract foreign investors, or plan exits. But for Indian startups, it’s a minefield of regulatory violations and tax…
On April 22, 2025, RBI issued A.P. (DIR Series) Circular. No 02/2025-26 (“Circular 02/2025-26”), followed by A.P. (DIR Series) Circular. No 04/2025-26 on April 24, 2025 (“Circular 04/2025-26”), addressed to…
Backing Deep-Tech Innovation: Aritra Partners Advises Blume Ventures on Investment in Optimized Electrotech
At Aritra Partners, we take pride in partnering with visionary investors and disruptive startups that are shaping…
Introduction
On January 30th, 2025, the Reserve Bank of India(“RBI”) introduced a revised framework[1] for imposing monetary penalties and compounding offences under the Payment and Settlement Systems Act, 2007 (“PSS…
Desamante Matti Kaadoi, Desamante Manushuloi’ - ‘A Country is not just its soil, a Country is its people.’
The journey of development for Bharat should be fuelled with reforms that…
INTRODUCTION
The Reserve Bank of India (“RBI”) issued three significant notifications on January 14, 2025, amending various regulations under the Foreign Exchange Management Act, 1999 (“FEMA”). These amendments include key…
INTRODUCTION
The Reserve Bank of India (“RBI”) on January 7th, 2025, issued the Master Direction titled ‘Reserve Bank of India (Non-resident investment in Debt Instruments) Directions, 2025 (“MD-Debt Instrument”)1. This…
The Reserve Bank of India has recently introduced an amendment under the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Fifth Amendment) Regulations, 2025 (“FEMA”). The…
Introduction
On August 11, 2023, Digital Personal Data Protection Act, 2023 (“DPDP Act”) was enacted to ensure the privacy and protection of digital personal data processed in India. The DPDP…
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The Hon’ble Chennai Income Tax Appellate Tribunal (“ITAT”) recently ruled that no additional interest under section 234C of the Income-tax Act, 1961 (‘the Act’) is warranted when the Assessee…
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The Hon’ble Hyderabad Income Tax Appellate Tribunal (“ITAT”) has recently delivered a significant ruling concerning the eligibility to claim bad debts that have been written off in the books…
The Securities and Exchange Board of India (SEBI) issued a final order regarding the Initial Public Offering (IPO) of Trafiksol ITS Technologies Limited (“Company” or “Trafiksol”). The order addresses…
Introduction
The Hon’ble Mumbai Income Tax Appellate Tribunal (‘ITAT’), confirms eligibility of resident taxpayers to claim indexation benefits on capital gains from the sale of foreign shares. In the case…
Introduction:
The Hon’ble Ahmedabad Income Tax Appellate Tribunal (‘ITAT’) has recently delivered a significant ruling concerning the eligibility of TDS credit in a subsequent Assessment Year (‘AY’), where corresponding income…
Theranautilus Secures $1.2 Million in Seed Funding to Revolutionize Dental Healthcare with Nanorobotics
We are excited to announce that
has successfully advised Theranautilus, a pioneering deep-tech firm specializing…
Introduction
The Mumbai Income Tax Appellate Tribunal (ITAT) held that managerial services provided by the taxpayer, a resident of the UK, are not taxable in India as they fall outside…
Introduction:
The Ministry of Corporate Affairs (“MCA”) has introduced Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Amendment Order, 2024 published on July 15, 2024…
The Ministry of Finance (Department of Economic Affairs) issued the Foreign Exchange (Compounding Proceedings) Rules, 2024 (“Rules 2024”) on September 12, 2024, thereby superseding the Foreign Exchange (Compounding Proceedings) Rules,…
On September 9, 2024, the Ministry of Corporate Affairs (MCA) introduced significant amendments to the Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016. These changes, effective from September 17, 2024, aim…
INTRODUCTION
In a move to bring lucidity to the instructions for Overseas Investors by persons resident in India and enhance the structure of implementation of Overseas Direct Investment, the Reserve…
INTRODUCTION
The Hon’ble Finance Minister during her speech of Union Budget 2024-25 had announced that the rules and regulations for foreign direct investments and overseas investment rules will be simplified…
INTRODUCTION
In a move to fasten the pace of the investment vehicles in India and provide for a robust a mechanism for streamlining the investment opportunities with that of the…
Introduction
The Hon’ble Delhi Income Tax Appellate Tribunal (“ITAT”) upheld that the capital asset held by the Assessee, in the nature of rights and interests in respect of Compulsory Convertible…
As per section 454(5) of the Companies Act, 2013 (“the Act”) and the Companies (Adjudication of Penalties) Rules, 2014 (“the Rules”), the adjudging officer is required to issue a written…
INTRODUCTION
The Reserve Bank of India (“RBI”) issued the “Master Direction on Cyber Resilience and Digital Payment Security Control for non-bank Payment System Operators” dated July 30, 2024 (“Master Direction”)[1]…
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The Delhi Income Tax Appellate Tribunal upheld the validity of the Tax Residency Certificate as primary and statutory evidence of residency, emphasizing that the onus shifts to the Revenue…
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In a recent ruling dated July 24, 2024, the Karnataka Authority for Advance Rulings determined that Rapido, an app-based transportation service operated by M/s Roppen Transportation Services Pvt Ltd1,…
Introduction
The Telangana High Court (‘HC’), in a landmark decision, has upheld the invocation of General Anti-Avoidance Rules (‘GAAR’) in a case revolving around bonus stripping. This significant ruling was…
INTRODUCTION
On 15th July, 2024, the Reserve Bank of India (“RBI”) issued three revised Master Direction on Fraud Risk Management for Commercial Banks and All India Financial Institutions(“AIFIs”)[1], Cooperative Banks[2],…
INTRODUCTION
Generally, in the e-commerce industry, particularly startups, they continuously strive to increase their user base to achieve scalability and meet the financial targets to showcase to their existing and…
Introduction
The Telangana High Court (‘HC’), in a landmark decision, has upheld the disallowance for expenditure incurred by Subsidiary Company for overseeing Holding Company’s projects. This significant ruling was made…