Aurtus Direct Tax Alert — Insights — Aurtus Consulting

GB Global Limited – BSE Returns Amalgamation Scheme citing Regulation 37 of SEBI LODR GB Global Limited, a listed company (equity shares presently not traded), was admitted into Corporate Insolvency Resolution Process (CIRP) in Septem

Aurtus Consulting 19/12/25 Aurtus Consulting 19/12/25

GB Global Limited – BSE Returns Amalgamation Scheme citing Regulation 37 of SEBI LODR

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SEBI Unveils Modalities for Transition to Accredited Investor-Exclusive Schemes and Eases Norms for Large-Value Funds With an objective to enhance ease of doing business, the Securities and Exchange Board of India (‘SEBI’) had in Novem

Aurtus Consulting 12/12/25 Aurtus Consulting 12/12/25

SEBI Unveils Modalities for Transition to Accredited Investor-Exclusive Schemes and Eases Norms for Large-Value Funds

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Godfrey Phillips India Limited vs Commissioner, Central Tax, New Delhi [Service Tax Appeal No. 51478 of 2022] dated December 5, 2025 The assessee was engaged in the business of manufacturing goods and providing services. The surplus prof

Aurtus Consulting 10/12/25 Aurtus Consulting 10/12/25

Godfrey Phillips India Limited vs Commissioner, Central Tax, New Delhi [Service Tax Appeal No. 51478 of 2022] dated December 5, 2025

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Key Amendments to the SEBI (Foreign Portfolio Investor) Regulations, 2019 The Securities and Exchange Board of India (‘SEBI’), through a notification1dated 1 December 2025 has made certain significant amendments to the SEBI (Foreign Port

Aurtus Consulting 08/12/25 Aurtus Consulting 08/12/25

Key Amendments to the SEBI (Foreign Portfolio Investor) Regulations, 2019

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ITAT Ruling on Netflix India : Rejects re-characterization of limited risk distributor The Mumbai bench of Income Tax Appellate Tribunal (ITAT), on 17th October 2025, issued a ruling in favour of Netflix Entertainment Services India LLP1

Aurtus Consulting 05/12/25 Aurtus Consulting 05/12/25

ITAT Ruling on Netflix India : Rejects re-characterization of limited risk distributor

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AO cannot reject the prescribed method of Valuation, ITAT deletes addition under Section 50CA The Assessee1 is an individual, engaged in business of trading of shares. The Assessee transferred 801 shares in Cash Grail (P) Ltd (‘CGPL’) to

Aurtus Consulting 21/11/25 Aurtus Consulting 21/11/25

AO cannot reject the prescribed method of Valuation, ITAT deletes addition under Section 50CA

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Kerala HC upholds proviso to section 194A(3) of Income tax Act, 1961 for high-turnover co-operative societies The Hon’ble Kerala High Court (hereinafter referred to as ‘the Court’) in the case of Vellangallur Peoples Welfare Co-Operative

Aurtus Consulting 18/11/25 Aurtus Consulting 18/11/25

Kerala HC upholds proviso to section 194A(3) of Income tax Act, 1961 for high-turnover co-operative societies

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Cash Compensation for delay in flat handover not taxable under Section 50C Suvarna Chandrakant Bhojane (‘the Assessee’), had entered into a development agreement for construction of flats on her land. As per the terms of the agreement, t

Aurtus Consulting 13/11/25 Aurtus Consulting 13/11/25

Cash Compensation for delay in flat handover not taxable under Section 50C

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NCLT clears Kirloskar group merger; holds tax benefit not equal to tax avoidance The Mumbai Bench of the NCLT has sanctioned the Scheme of Amalgamation between The Kolhapur Steel Ltd (“Transferor Company”) and Karad Projects and Motors L

Aurtus Consulting 07/11/25 Aurtus Consulting 07/11/25

NCLT clears Kirloskar group merger; holds tax benefit not equal to tax avoidance

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ITAT interprets the word ‘may’ u/s 43 of BMA as directory and not mandatory The Special Bench (‘SB’) of the Mumbai ITAT in the case 1 of Mr.Vinil Venugopal & Mrs.Ranjeeta Vinil has held that the word “may” u/s43 of the Black Money Ac

Aurtus Consulting 05/11/25 Aurtus Consulting 05/11/25

ITAT interprets the word ‘may’ u/s 43 of BMA as directory and not mandatory

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GAAR Panel terms Hinduja Group demerger an ‘impermissible avoidance arrangement’ Hinduja Global Solutions Ltd (‘HGSL’) had entered into a Scheme of Arrangement with NXTDigital Ltd involving demerger of digital, media and communications b

Aurtus Consulting 04/11/25 Aurtus Consulting 04/11/25

GAAR Panel terms Hinduja Group demerger an ‘impermissible avoidance arrangement’

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Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2025 Section 233 of the Companies Act, 2013 (‘the Act’) read with Rules1 provides for fast-track merger or amalgamation of: (a) Two or small companies; (b) A holdin

Aurtus Consulting 13/09/25 Aurtus Consulting 13/09/25

Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2025

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No Disallowance u/s 40A(3) where cash payments are genuine and verifiable For Assessment Year 2014–15, the taxpayer, Sabha Chand, engaged in the retail sale of liquor, reported turnover of  INR 6.56 crores with a net profit of 0.85%

Aurtus Consulting 08/09/25 Aurtus Consulting 08/09/25

No Disallowance u/s 40A(3) where cash payments are genuine and verifiable

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Compensation paid on cancellation of ‘agreement to sale’, allowable as cost of improvement The Assessee1 filed his return of income (‘ROI’) for AY 2018-19 declaring total income of INR 17.59 crores. Thereafter, the Assessee filed the rev

Aurtus Consulting 14/08/25 Aurtus Consulting 14/08/25

Compensation paid on cancellation of ‘agreement to sale’, allowable as cost of improvement

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Share price derived as per Rule 11UA prevails over third party transaction price During AY 2021-22, the Assessee1 purchased 5.92 Cr. shares of IG3 Infra Limited (‘IG3’) at INR 12.43 per share and 18.43 Cr. shares of ETL Power Services Li

Aurtus Consulting 07/08/25 Aurtus Consulting 07/08/25

Share price derived as per Rule 11UA prevails over third party transaction price

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Tax certainty provided by Delhi High Court on taxability of Category III AIFs In a recent ruling pronounced by the Hon’ble Delhi High Court in the case of Equity Intelligence AIF Trust vs the CBDT and Anr, the Court has provided the

Aurtus Consulting 01/08/25 Aurtus Consulting 01/08/25

Tax certainty provided by Delhi High Court on taxability of Category III AIFs

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Reserve Bank of India (Investment in AIF) Directions, 2025 The Reserve Bank of India (‘RBI’) has issued the Reserve Bank of India (Investment in AIF) Directions, 2025 wherein it has revised the regulatory framework for investment in Al

Aurtus Consulting 31/07/25 Aurtus Consulting 31/07/25

Reserve Bank of India (Investment in AIF) Directions, 2025

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International Financial Services Centres Authority (Techfin and Ancillary Services) Regulations 2025 The International Financial Services Centres Authority (IFSCA) has recently issued the International Financial Services Centres Authorit

Aurtus Consulting 30/07/25 Aurtus Consulting 30/07/25

International Financial Services Centres Authority (Techfin and Ancillary Services) Regulations 2025

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Buyback of Shares not “Receipt of Property” under section 56(2)(viia) For Assessment Year 2016–17, the taxpayer undertook a buyback of 1,90,097 equity shares at a consideration of INR 10 per share, aggregating to INR 19,00,970 which were

Aurtus Consulting 21/07/25 Aurtus Consulting 21/07/25

Buyback of Shares not “Receipt of Property” under section 56(2)(viia)

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Sale of Equity Oriented Mutual Funds not akin to alienation of ‘shares’ - Treaty benefit available The Assessee1 is a foreign company and a tax resident of Mauritius, carrying on investment activity in India and registered as Foreign Ins

Aurtus Consulting 02/07/25 Aurtus Consulting 02/07/25

Sale of Equity Oriented Mutual Funds not akin to alienation of ‘shares’ - Treaty benefit available

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