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New Income Tax Bill          Union Budget + Finance Bill, 2025

Highlights Highlights, Income Tax, GST, Import Eport and Corporate Laws

11-Year Delay in Show Cause Notice Adjudication Violates Due Process Rights and Warrants Quashing of Proceedings
March 24, 2025   Case Laws     GST

GST Claim Rejection Overturned: Petitioner Granted Fresh Opportunity to Submit Documentation Under Section 128A
March 24, 2025   Case Laws     GST

IRS Assessment Order Quashed for Ignoring Taxpayer's Multiple Replies and Denying Personal Hearing Opportunity
March 24, 2025   Case Laws     GST

Service Tax Recovery Order Quashed After Authority "Forgot" to Consider Exemption Claim Under Notification 25/2012
March 24, 2025   Case Laws     GST

Bank Property Attachment Under GST Act Set Aside, Petitioner Given Fresh Chance Despite Prior Non-Response
March 24, 2025   Case Laws     GST

ITC Denial for Construction Services Must Follow Safari Retreats Precedent Under GST Section 17(5)(d)
March 24, 2025   Case Laws     GST

GST Refund Claim Must Be Processed Immediately After Verification of Facts and Entitlement as per Government Orders
March 24, 2025   Case Laws     GST

Purchasing Shares in Non-Profit Company Not an "Investment" Under Sections 11(5) and 13(1)(d) of Income Tax Act
March 24, 2025   Case Laws     Income Tax

Income Tax Reassessment Valid Where Rental Discrepancies and TDS Non-Deduction on Salaries Not Properly Disclosed Under Section 147
March 24, 2025   Case Laws     Income Tax

Step-Siblings Qualify as "Relatives" for Gift Tax Exemption Under Section 56(2)(vii) of Income Tax Act
March 24, 2025   Case Laws     Income Tax

Property Undervaluation: Section 56(2)(x) Addition Upheld When Purchase Price Falls Below Valuation Officer's Assessment
March 24, 2025   Case Laws     Income Tax

Substantial Expansion Under Section 80IC Requires Verification for 100% Deduction Despite Prior Year Allowance
March 24, 2025   Case Laws     Income Tax

Unexplained Income Additions Under Section 69A Deleted Where Cash Withdrawals Were Redeposited Without Diversion
March 24, 2025   Case Laws     Income Tax

Patent Application Drafting Fees and Software Translation Expenses Qualify as Revenue Expenditure Under Section 37(1)
March 24, 2025   Case Laws     Income Tax

Department's Appeal Dismissed Under Monetary Limits: Bank Guarantee Held for 14 Years Ordered Released Within 8 Weeks
March 24, 2025   Case Laws     Customs

Designated Authority Properly Rejected Late Submissions in Anti-Dumping Case Under Rule 8; Physical Inspection Not Always Required
March 24, 2025   Case Laws     Customs

DRI Officials' Authority to Issue Show Cause Notices Under Section 28 of Customs Act Examined After Canon-II Decision
March 24, 2025   Case Laws     Customs

Detention Under PMLA Upheld as Court Finds Procedural Requirements Met Under Section 19(1)
March 24, 2025   Case Laws     Money Laundering

Retention Charges from Cancelled Reservations and Employee Meal Recoveries Not Taxable Under Section 66E(e)
March 24, 2025   Case Laws     Service Tax

Appeal Succeeds: Tribunal Rejects Clandestine Manufacturing Allegations Due to Procedural Violations Under Sections 9D(2) and 36B
March 24, 2025   Case Laws     Central Excise

Section 25A of KVAT Act Doesn't Override Time Limits for Reassessment Despite CAG Objections
March 24, 2025   Case Laws     VAT / Sales Tax

Delay of 292 Days Condoned in Dishonored Cheque Case to Protect Public Interest Despite Government's Obligation to Follow Timelines
March 24, 2025   Case Laws     Indian Laws

Assessment Orders Quashed as Time-Barred; Special Audit Under Section 142(2A) Found Void; Additions Under Section 69 for Unexplained Payments Upheld
March 22, 2025   Case Laws     Income Tax

Partial Relief for Taxpayer: Section 35CCC Deduction Reduced While Section 14A and Depreciation Revision Orders Quashed
March 22, 2025   Case Laws     Income Tax

Share Valuation Using DCF Method Valid Under Rule 11UA; AO Cannot Dispute Without Expert Opinion
March 22, 2025   Case Laws     Income Tax

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Capital Gains: Exemption against Residential Property Sales and Reinvestment Incentives in Clause 82 of the Income Tax Bill, 2025 vs. Section 54 of the Income Tax Act, 1961
Capital Gains Taxation: The Role of Advance Payments in Clause 81 of the Income Tax Bill, 2025 vs. Section 51 of the Income-tax Act, 1961
Valuation - transfer of capital assets when the actual consideration is not ascertainable: Clause 80 of the Income Tax Bill, 2025 vs. Section 50D of the Income-tax Act, 1961
Full value of consideration for transfer of share other than quoted share for computation of Capital Gain - Clause 79 of the Income Tax Bill, 2025 vs Section 50CA of the Income-tax Act, 1961
Full value of consideration / Stamp Duty Valuation with Safe Harbor - Computation of Capital Gains: Clause 78 of the Income Tax Bill, 2025 vs. Section 50C of the Income-tax Act, 1961
Capital Gains Taxation in Slump Sales: Clause 77 of the Income Tax Bill, 2025 vs. Section 50B of the Income Tax Act, 1961
Computation of capital gains in case of Market Linked Debenture: Clause 76 of the Income Tax Bill, 2025 vs. Section 50AA of the Income Tax Act, 1961
Cost of acquisition in case of depreciable asset: Clause 75 of the Income Tax Bill, 2025 vs. Section 50A of the Income Tax Act, 1961
Computation of capital gains in case of depreciable assets.: Clause 74 of Income Tax Bill, 2025 vs. Section 50 of Income-tax Act, 1961
Cost of acquisition for capital gains tax purposes: Clause 73 of the Income Tax Bill, 2025 vs. Section 49 of the Income Tax Act, 1961
Mode of computation of capital gains: Clause 72 of the Income Tax Bill, 2025 vs. Section 48 of the Income-tax Act, 1961
Withdrawal of Exemption in Certain Cases: Clause 71 of the Income Tax Bill, 2025 vs. Section 47A of the Income-tax Act, 1961
Capital Gains Tax Exemptions: Clause 70 of the Income Tax Bill 2025 vs. Section 47 of the Income Tax Act 1961
Capital Gains on Share Buy-Backs: Clause 69 of the Income Tax Bill, 2025 vs. Section 46A of the Income-tax Act, 1961,
Capital gains - Distribution of assets by companies in liquidation: Clause 68 of the Income Tax Bill, 2025 vs. Section 46 of the Income-tax Act, 1961
Capital Gains - Chargeability: Clause 67 of the Income Tax Bill, 2025 vs. Section 45 of the Income Tax Act, 1961
Tax Implications in Co-operative Bank Mergers (Reorganizations): Clause 65 of the Income Tax Bill, 2025, vs. Section 44DB of the Income-tax Act, 1961
Acceptance of Electronic mode of Payment: Clause 64 and Clause 187 of the Income Tax Bill, 2025 vs. Section 269SU of the Income Tax Act, 1961
Tax Audit Requirements in India: Clause 63 of the Income Tax Bill, 2025 vs. Section 44AB of Income Tax Act, 1961
Maintenance of books of account: Clause 62 of the Income Tax Bill, 2025 vs. Section 44AA of the Income Tax Act, 1961
Presumptive Taxation for Non-Residents in India: Clause 61 of the Income Tax Bill, 2025 merging Sections 44B, 44BB, 44BBA, 44BBB, 44BBC and 44BBD of Income Tax Act, 1961
Head Office Expenditure Deductions - Reforming Non-Resident Tax Deductions: Clause 60 of Income Tax Bill, 2025 vs. Section 44C of the Income-tax Act, 1961
Computing income by way of royalties, etc., in case of non-residents - Clause 59 of the Income Tax Bill, 2025 vs. Section 44DA of the Income Tax Act, 1961
Presumptive profits and gains of business of plying, hiring or leasing goods carriages: Clause 58 of the Income Tax Bill, 2025 vs. Section 44AE of the Income Tax Act, 1961
Computing Profits and Gains of Profession on Presumptive Basis: Clause 58 of the Income Tax Bill, 2025 vs. Section 44ADA of the Income Tax Act, 1961

More Notes

Notifications Notifications

Cus

- Seeks to amend notification No. 27/2011-Customs dated 01.03.2011 to withdraw the export duty of 20% on Onion (HS 0703 10) from 1 St April, 2025.
March 22, 2025

ADD

- Seeks to impose Anti-dumping duty on import of ‘Poly Vinyl Chloride Paste Resin’ from China PR, Korea RP, Malaysia, Norway, Taiwan and Thailand for a period of five years
March 21, 2025

SEBI

- Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2025
March 20, 2025

SEBI

- Securities and Exchange Board of India (Intermediaries) (Second Amendment) Regulations, 2025
March 20, 2025

SEBI

- Securities and Exchange Board of India (Credit Rating Agencies) (Amendment) Regulations, 2025
March 20, 2025

FTP

- Extension of RoDTEP for Advance Authorizations (AAs) holders, Special Economic Zones (SEZs), and Export-Oriented Units (EOUS) upto 05.02.2025
March 20, 2025

Cus

- Seeks to amend Notification No. 9/2012-Customs, dated the 9th March, 2012
March 20, 2025

FTP

- Amendment in import policy condition of Urea [Exim Code 31021010] in the ITC (HS) 2022, Schedule - I (Import Policy)
March 18, 2025

IT

- U/s 138(1) of IT Act 1961 - Specified officer, authority or body - Disclosure of information respecting assessees
March 18, 2025

Cus (NT)

- Customs (Administration of Rules of Origin under Trade Agreements) Amendment Rules, 2025
March 18, 2025

ADD

- Seeks to impose provisional ADD on Soft Ferrite Cores from China PR
March 18, 2025

ADD

- Seeks to impose Anti-dumping duty on Vacuum Flasks from China PR
March 17, 2025

ADD

- Seeks to impose provisional ADD on Aluminium Foil upto 80 microns, excluding Aluminium Foil below 5.5 micron for non-capacitor application from China PR
March 17, 2025

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
March 13, 2025

CGST

- Seeks to amend Notification No. 02/2017-Central Tax, dated the 19th June, 2017 - Jurisdiction of Central Tax Officers - CGST officers
March 13, 2025

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

SEBI

- Facilitating ease of doing business relating to the framework on “Alignment of interest of the Designated Employees of the Asset Management Company (AMC) with the interest of the unitholders”
March 21, 2025

SEBI

- Industry Standards on “Minimum information to be provided for review of the audit committee and shareholders for approval of a related party transaction”
March 21, 2025

DGFT

- Review the SIONS pertaining to Automobile tyres
March 20, 2025

SEBI

- Online Filing System for reports filed under Regulation 10(7) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
March 20, 2025

SEBI

- Disclosure of holding of specified securities and Holding of specified securities in dematerialized form
March 20, 2025

SEBI

- Harnessing DigiLocker as a Digital Public Infrastructure for reducing Unclaimed Assets in the Indian Securities Market
March 19, 2025

SEBI

- Framework on Social Stock Exchange (“SSE”)
March 19, 2025

DGFT

- Extension of the last date for filing Annual RoDTEP Return (ARR) for Financial Year 2023-24
March 19, 2025

Customs

- Enhancement of Women participation in the EXIM trade ecosystem-reg.
March 18, 2025

IBC

- Disclosure of information relating to carry forward of losses in Information Memorandum (IM)
March 17, 2025

FEMA

- Asian Clearing Union (ACU) Mechanism – Indo-Maldives trade
March 17, 2025

Income Tax

- Frequently Asked Questions (FAQs) on Guidelines for Compounding of Offences under the Income-Tax Act, 1961 dated 17.10.2024
March 17, 2025

Customs

- Intimation of suspension of Custodianship of M/s. Sudharsan Logistics Pvt. Ltd., CFS, Chennai under the provisions of Regulation 11(2) of HCCAR, 2009 – Reg.
March 14, 2025

DGFT

- Inputs on Draft Amendments in Procedures for Export Authorization for "Stock and Sale" of SCOMET items
March 12, 2025

SEBI

- Faster Rights Issue with a flexibility of allotment to specific investor(s)
March 11, 2025

More Circulars

News News, PIB

Delhi Budget Session begins with 'Kheer' ceremony; BJP leaders say sweetness symbolises progress
March 24, 2025


Removal of 20pc export duty on onion to boost farmers' income: Agri Min
March 24, 2025


UP transformed from a struggling state to an economic powerhouse in 8 years: CM
March 24, 2025


Delhi Assembly Budget session: AAP MLAs stage walkout
March 24, 2025


UP transformed from struggling state to an economic powerhouse in 8 years: CM
March 24, 2025


Delhi Budget Session begins with 'Kheer' ceremony; BJP leaders say 'sweetness symbolises progress'
March 24, 2025


PLI scheme incentivizes domestic manufacturing, increases production, creates new jobs and boosts exports
March 24, 2025


APEDA Flags-off of Goli Pop Soda – India's Iconic Goli Soda for Global Markets
March 24, 2025


Indian Institute of Corporate Affairs (IICA) launches Samarthya: National Competition on Corporate Rescue Strategies 2025 at Manesar
March 24, 2025


CGST Delhi East Commissionerate encourages greater compliance and awareness among unregistered manufacturers and traders during GST Registration Campaign 2025
March 24, 2025


'Catastrophic consequences' if Skoda gets limitation relief in USD 1.4 bn tax case: Customs to HC
March 23, 2025


Goa assembly session to start from Monday; budget presentation on Mar 26
March 23, 2025


Delhi Assembly's budget session set to start on stormy note on Monday
March 23, 2025


NC-led govt tables bill to amend J&K GST Act, 2017
March 22, 2025


Govt withdraws 20 pc export duty on onion effective April 1
March 22, 2025


More News

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