Section 205: Employee Cannot Be Denied TDS Credit Due to Employer’s Default
In a recent ruling, the Income Tax Appellate Tribunal Mumbai reaffirmed that an employee cannot be penalised for an employer’s failure to deposit tax deducted at source (TDS) with the Government. The case involved denial of TDS credit solely because the deducted amount did not appear in Form 26AS, despite clear evidence that tax had […]
Depreciation on Goodwill Arising from Amalgamation: ITAT Reaffirms Settled Law
In a recent ruling, the Income Tax Appellate Tribunal (Mumbai Bench) dismissed the Revenue’s appeal in the case of Siyaram Silk Mills Ltd. for Assessment Year 2017–18, once again affirming that goodwill arising on amalgamation is a depreciable intangible asset under Section 32 of the Income-tax Act, 1961. Background of the Case The assessee claimed […]
Mandatory Service Charge by Restaurants Declared Illegal: Key Legal Update (January 2026)
The Ministry of Consumer Affairs, Food & Public Distribution, through a press release dated 10 January 2026, has reaffirmed that compulsory levy of service charge by restaurants amounts to an unfair trade practice under the Consumer Protection Act, 2019. Acting on this clarification, the Central Consumer Protection Authority (CCPA) has initiated suo motu proceedings against […]