BUSINESS LAW

Background of the Case In July 2025, two Mumbai-based businessmen, Akhtar Yunus Khan and Tribhuwan Chittranjan Sinha, partners of M/s Accurate Enterprise, were arrested under allegations of availing fraudulent Input Tax Credit (ITC) worth ₹9.19 crores. The authorities claimed that the firm had engaged in transactions without actual movement of goods, relying on bogus invoices […]

India’s tax system is on the verge of a historic transformation. The Direct Tax Code (DTC) 2025 is a proposed reform aimed at replacing the Income Tax Act of 1961 – a law that has been amended countless times over the decades, making compliance complex for individuals and businesses alike. The main goal of DTC […]

The Income Tax Department has intensified its scrutiny of taxpayers claiming deductions on political donations under Section 80GGC of the Income Tax Act over the last two to three assessment years. According to reports (CNBC-TV18), several taxpayers have already received notices via email and SMS, directing them to furnish proof of donations and clarify the […]

One of the persistent challenges faced by businesses under the GST regime is the issue of inverted duty structure (IDS). This occurs when the tax rate on inputs (raw materials) is higher than the tax rate on output supplies (finished goods). Such a situation leads to the accumulation of unutilized Input Tax Credit (ITC), where […]

At Sachin P Kumar and Associates, we understand the challenges faced by multinational corporations in managing complex tax compliance requirements while maintaining healthy cash flows. Recently, we had the privilege to assist a major IT multinational company that was grappling with a significant working capital blockage due to the standard 10% Tax Deducted at Source […]

Securing Bail for Alleged Fake Invoicing and arrest made under Section 69 of the GST Act: A Success Story by Sachin P. Kumar and Associates In an important recent case, Sachin P. Kumar and Associates successfully secured bail for a client arrested under the stringent provisions of Section 69 of the Goods and Services Tax […]

Introduction Charitable trusts and non-profit institutions play a crucial role in the socio-economic development of India. To encourage and support their activities, the Income Tax Act, 1961, provides significant tax exemptions and benefits. Two key provisions in this regard are: Section 12AA (now replaced by Section 12AB post-2020 amendments), which governs the registration of charitable […]

Introduction Reassessment proceedings under Section 148 of the Income Tax Act, 1961 have always been a powerful tool in the hands of the Income Tax Department to reopen past assessments where income is believed to have escaped assessment. However, with power comes responsibility and a fair process. With the Finance Act, 2021, a significant overhaul […]

Introduction In today’s global economy, it’s not uncommon for Indian taxpayers especially professionals, consultants, NRIs, and multinational employees to earn income from foreign sources. While this brings the benefit of cross-border income, it also presents a key challenge: double taxation. To address this, Indian tax law provides relief under Section 90 and 91 of the […]

Introduction With the introduction of the Goods and Services Tax (GST) regime in 2017, India witnessed one of the most significant tax reforms in its history. GST aimed to unify the indirect tax structure, increase transparency, and reduce cascading tax effects. However, as with any system, loopholes emerged, and fake invoicing quickly became one of […]

When it comes to income tax assessments, one of the most contentious issues taxpayers may face is the allegation of “unexplained investment”. The Income Tax Department, through various assessments and scrutiny procedures, has been tightening its grip on black money, benami transactions, and income concealment. One of the tools available to the Assessing Officer (AO) […]

INTRODUCTION A number of significant changes have been observed with the introduction of Finance Act, 2024. One such change has been made in the governance of payment made by the Firms towards their partners, with the introduction of Section 194T in the Income Tax Act, 1961. This provision compels the Partnership Firms and Limited Liability […]

People are often so taken up in acquiring wealth and assets, that they forget the very fact that these assets need management and planning to ensure that maximum benefit to be obtained. Asset management is an exhaustive task, however the importance of it must not be understated at all. One of such wealth management system […]

Sports and gaming have long been popular for enjoyment, leisure, and social interaction, both for those participating and those watching. Online gaming expands these possibilities by offering on-demand, real-time play that overcomes the limitations of physical locations and different time zones. The COVID-19 pandemic and resulting social distancing measures further pushed many people to seek […]