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

Service Tax Demand Beyond 30 Months Barred Without Proof of Fraud or Misstatement Under Limitation Rules
July 10, 2025   Case Laws     Service Tax

New CSR-1 Form Required for Compliance Reporting Under Section 135 from July 14, 2025
July 10, 2025   Notifications     Companies Law

Section 263 IT Act: Court Upholds Revision but Orders AO to Provide Reasoned Orders on Remanded Points
July 10, 2025   Case Laws     Income Tax

ITAT Allows Deduction of Software Expenses, Excludes Personal Gifts Under Section 56(2)(x)(a)
July 10, 2025   Case Laws     Income Tax

ITAT Upholds Bank's Amortization, Depreciation, and Deductions Under Sections 14A, 32(1), 43B, and 36(1)(viii)
July 10, 2025   Case Laws     Income Tax

ITAT Confirms Depreciation on Leasehold Improvements, Upholds Rs. 4 Crore Addition to Sale Consideration Under Contract
July 10, 2025   Case Laws     Income Tax

Foreign Exchange Losses Treated as Operating Items; Product Development Expenses Adjustment Remanded
July 10, 2025   Case Laws     Income Tax

Repeal of IPC doesn't affect PMLA Schedule; Section 8(1) General Clauses Act ensures dynamic reference to BNS offences
July 10, 2025   Case Laws     Money Laundering

Petition Allowed for Revised TRAN-1 Form Under Section 140 CGST Act; Manual Revision and Credit Claim Valid
July 10, 2025   Case Laws     GST

Cancellation of registration without proper SCN service violates natural justice under GST rules, order quashed
July 10, 2025   Case Laws     GST

Reopening Notice Valid if Issued Within Six Years Under Section 148; AO's Addition Under Section 69 Set Aside for Lack of Verification
July 10, 2025   Case Laws     Income Tax

ITAT directs reconsideration under Section 80G(5) proviso, correcting bona fide error in Form 10AB submission
July 10, 2025   Case Laws     Income Tax

HC orders fast processing of MEIS claims for 174 shipping bills within six weeks under export rules
July 10, 2025   Case Laws     Customs

SCN Quashed for Illegal Liquor Possession; Customs Bonded Goods Not Under Excise Jurisdiction
July 10, 2025   Case Laws     Customs

Petitioner Allowed to Photograph Vessel After Paying Rs.10,000 to Welfare Fund Under Prior Order Section III
July 10, 2025   Case Laws     Customs

Bank must transfer income tax refund to corporate debtor's CIRP account; security interest claim rejected under CIRP rules
July 10, 2025   Case Laws     IBC

Rental Income from Government Hotel Accommodation Subject to 12% GST Under CGST and J K GST Acts
July 10, 2025   Case Laws     GST

Assignment of GIDC Leasehold Rights Not a GST Supply Under Section 7(1)(a), Exempt Under Section 9
July 10, 2025   Case Laws     GST

Assessing Officer Cannot Reopen Assessment Under Section 154 After Final Closure Certificate Issued Under DTVSV Act
July 10, 2025   Case Laws     Income Tax

Tribunal Quashes Refusal of Discharge Application Under Section 138(1)(a) IBC, Enforces Strict Timelines
July 10, 2025   Case Laws     IBC

Reopening Assessment After Four Years Invalid Without Non-Disclosure Under Sections 147 and 148 IT Act
July 10, 2025   Case Laws     Income Tax

Appeal under Section 61 IBC dismissed for delay as limitation starts from order date, not knowledge date
July 10, 2025   Case Laws     IBC

Services to Overseas Clients Paid in Foreign Exchange Are Export and Not Taxable Under Rule 3 of POPS Rules
July 10, 2025   Case Laws     Service Tax

Access to Overseas Software Tools Classified as OIDAR Service; Tax Demand Barred by Limitation Rules
July 10, 2025   Case Laws     Service Tax

HC upholds internal CUP method for transfer pricing of CPP power sales under Income Tax Act Section 92C
July 10, 2025   Case Laws     Income Tax

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Penalty Provisions for deterrence against non-cooperation with tax authorities : Clause 466 of Income Tax Bill, 2025 Vs. Section 272AA of Income-tax Act, 1961
Procedural Defaults and Penalties in Indian Tax Law : Clause 465 of the Income Tax Bill, 2025 Vs. Section 272A of the Income Tax Act, 1961
Ensuring Compliance Among Tax-Exempt Entities : Clause 464 of the Income Tax Bill, 2025 Vs. Section 271K of the Income-tax Act, 1961
Professionals(i.e. Accountant, Marchant Banker, Registered Valuer) Accountability under Indian Income Tax Law: Clause 463 of the Income Tax Bill, 2025 Vs. Section 271J of the Income-tax Act, 1961
Enforcement of Information Disclosure in Cross-Border Transactions : Clause 462 of the Income Tax Bill, 2025 Vs. Section 271I of the Income-tax Act, 1961
Penalty Provisions for Non-Filing and Incorrect Filing of TDS/TCS Statements : Clause 461 of the Income Tax Bill, 2025 Vs. Section 271H of the 1961 Act
Enforcement of Reporting Obligations by a non-resident having liaison office : Clause 460 of Income Tax Bill, 2025 vs. Section 271GC of Income Tax Act, 1961
Penalties for Reporting Non-Compliance by Resident constituent entity of an international group under Indian Tax Law : Clause 459 of the Income Tax Bill, 2025 Vs. Section 271GB of the Income-tax Act, 1961
Legal Implications of Non-Compliance with Reporting Requirements : Clause 458 of the Income Tax Bill, 2025 Vs. Section 271GA of the Income-tax Act, 1961
Strengthening Transfer Pricing Enforcement : Clause 457 of the Income Tax Bill, 2025 Vs. Section 271G of the Income-tax Act, 1961
Compliance and Penalty Mechanisms for Investment Funds under Indian Tax Law : Clause 456 of the Income Tax Bill, 2025 Vs. Section 271FAB of the Income Tax Act, 1961
Penalties for Inaccurate Financial Reporting under Indian Income Tax Law : Clause 455 of the Income Tax Bill, 2025 Vs. Section 271FAA of the Income Tax Act, 1961
Penalties for Non-Compliance in Financial Transaction Reporting : Clause 454 of the Income Tax Bill, 2025 Vs. Section 271FA of the Income-tax Act, 1961
Penalty Provisions for Non-compliant Loan Repayments in India's Income Tax Law : Clause 453 of the Income Tax Bill, 2025 Vs. Section 271E of the Income-tax Act, 1961
Mandatory Electronic Payments and Penalty Regimes : Clause 452 of the Income Tax Bill, 2025 Vs. Section 271DB of the Income-tax Act, 1961
Evolving Penalty Regimes for Monetary Transaction Violations : Clause 451 of the Income Tax Bill, 2025 Vs. Section 271DA of the Income Tax Act, 1961
Cash Transaction Penalties under Indian Tax Law : Clause 450 of the Income Tax Bill, 2025 Vs. Section 271D of the Income-tax Act, 1961
Evolution of Penalty Provisions for Failure to Collect Tax at Source : Clause 449 of the Income Tax Bill, 2025 Vs. Section 271CA of the Income Tax Act, 1961
Practical and Legal Implications of Penalty for TDS Defaults in Complince under Indian Income Tax Law : Clause 448 of the Income Tax Bill, 2025 Vs. Section 271C of the Income-tax Act, 1961
Practical Dimensions of Penalty for Non-Submission of Accountant's Report in Indian Taxation : Clause 447 of the Income Tax Bill, 2025 Vs. Section 271BA of the Income-tax Act, 1961
Audit Compliance and Penalty Provisions under Indian Income Tax Law : Clause 446 of the Income Tax Bill, 2025 Vs. Section 271B of the Income-tax Act, 1961
Penalties for defeating the policy objective of fostering genuine charitable activities by Related Parties : Clause 445 of the Income Tax Bill, 2025 Vs. Section 271AAE of the Income Tax Act, 1961
Penalizing False Accounting Entries : Clause 444 of the Income Tax Bill, 2025 Vs. Section 271AAD of the Income-tax Act, 1961
Legal and Practical Dimensions of Penalties for Undisclosed Income in Indian Taxation : Clause 443 of the Income Tax Bill, 2025 Vs. Section 271AAC of the Income-tax Act, 1961
Legal Framework for Documentation Penalties under Indian Tax Law : Clause 442 of the Income Tax Bill, 2025 Vs. Section 271AA of the Income-tax Act, 1961

More Notes

Notifications Notifications

IT

- Central Government notifies redeemable bonds issued by the Indian Renewable Energy Development Agency (IREDA), in respect of "Long-Term Specified Assets" under section 54EC
July 9, 2025

Co. Law

- Companies (Corporate Social Responsibility Policy) Amendment Rules, 2025
July 7, 2025

IT

- Exemption from specified income U/s 10(46A) of IT Act 1961 - "Rajasthan Housing Board"
July 7, 2025

IBC

- Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2025.
July 4, 2025

Co. Law

- Companies (Listing of equity shares in permissible jurisdictions) Amendment Rules, 2025.
July 3, 2025

CVD

- Seeks to impose CVD on Continuous Cast Copper Wire Rods originating in or exported from Indonesia, Malaysia, Thailand and Vietnam
July 3, 2025

IT

- Exemption from specified income U/s 10(46) of IT Act 1961 - Karnataka State Pollution Control Board
July 2, 2025

IT

- Amendment in Notification No. 44/2017 dated 5th June, 2017 - Cost inflation Index for the F.Y. Year 2025-26
July 1, 2025

Cus (NT)

- Appointment of Common Adjudicating Authority for the purpose of finalization of Provisional Assessment in SVB case w.r.t. M/s MB Crusher
June 30, 2025

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
June 30, 2025

Cus

- Seeks to amend Notification No. 130/2010-Customs, dated the 23rd December, 2010 - Exemption from Additional duty on specified goods by designated airlines when imported from specified countries
June 30, 2025

FTP

- Extension in Minimum Import Price (MIP) Condition on import of Soda Ash covered under Chapter 28 of ITC (HS) 2022, Schedule-I (Import Policy)
June 30, 2025

FTP

- Continuation of imposition of Quantitative Restriction on import of Low Ash Metallurgical Coke under Chapter 27 of ITC (HS) 2022, Schedule - I (Import Policy)
June 30, 2025

Co. Law

- Companies (Restriction on number of layers) Amendment Rules, 2025
June 27, 2025

Co. Law

- Companies (Incorporation) Amendment Rules, 2025
June 27, 2025

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

Customs

- Amendment in Import Policy of specified items covered under Chapter 71 of ITC (HS) 2022 of Schedule-I (Import Policy).
July 9, 2025

DGFT

- Fixation of new Standard Input Output Norms (SIONs) at SION (A-3687, A-3688 and A-3689 under 'Chemical and Allied Product' (Product Code 'A')
July 8, 2025

DGFT

- Procedure for filing application for obtaining Import Authorisation for import of Low Ash Metallurgical Coke subject to Country-wise Quantitative Restrictions (QR)
July 2, 2025

SEBI

- Ease of Doing Investment Special Window for Re-lodgement of Transfer Requests of Physical Shares
July 2, 2025

Customs

- Registration of Importers of Plastic Raw Material on Centralized EPR Portal for Plastic Packaging as per Plastic Waste Management Rules, 2016 (as amended)
July 2, 2025

Customs

- Port restriction on import of certain goods from Bangladesh to India under ITC (HS), 2022 Schedule 1 (Import Policy)
July 1, 2025

Income Tax

- Clarification regarding CBDT's Circular No. 5/2025 dated 28.03.2025 for waiver on levy of interest under section 201(1A)(ii)/ 206C(7) of the Income-tax Act, 1961, as the case may be, in specific cases
July 1, 2025

SEBI

- Extension towards Adoption and Implementation of Cybersecurity and Cyber Resilience Framework (CSCRF) for SEBI Regulated Entities (REs)
June 30, 2025

Customs

- Discontinuation of Service Centre after 30.06.2025 - Reg.
June 27, 2025

SEBI

- Timelines for rebalancing of portfolios of mutual fund schemes in cases of all passive breaches
June 26, 2025

SEBI

- Industry Standards on Minimum information to be provided to the Audit Committee and Shareholders for approval of Related Party Transactions
June 26, 2025

DGFT

- Amendment under Appendix 2T (List of Export Promotion Councils/Commodity Boards/Export Development Authorities) of Appendices and ANFs of FTP 2023
June 25, 2025

DGFT

- Amendment in details of an authorized agency enlisted under Appendix 2E of FTP, 2023 - Agency authorized to issue Certificate of Origin (Non - Preferential)
June 25, 2025

Income Tax

- Relaxation of time limit for processing of valid returns of income filed electronically pursuant to order u/s 119(2)(b) of the Income-tax Act, 1961 passed by Competent Authority
June 25, 2025

FEMA

- Extension of the validity of FCRA registration certificates
June 24, 2025

More Circulars

News News, PIB

Ambassador of Japan leads high-level delegation to Dholera Special Investment Region (SIR)
July 10, 2025


IICA set to host North-East Conclave 2025 in Shillong on July 11 12 to nurture start-up and entrepreneurial ecosystem in the North-east
July 10, 2025


India Achieves 4,000% Solar Capacity Growth; Union Minister of Commerce and Industry Shri Piyush Goyal
July 10, 2025


25 Crore Soil Health Cards Distributed; Kisan Credit Cards Ensuring Wider Credit Access: Union Minister of Commerce and Industry, Shri Piyush Goyal
July 10, 2025


Agri Exports Can Rise from Rs.4.5 Lakh Crore to Rs.20 Lakh Crore with Focus on Processing, Branding: Union Minister of Commerce and Industry Shri Piyush Goyal
July 10, 2025


RBI releases Draft Reserve Bank of India (Novation of OTC Derivative Contracts) Directions, 2025 under Section 45 W of the RBI Act, 1934
July 9, 2025


Insolvency and Bankruptcy Board of India amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations)
July 9, 2025


Commission approves the acquisition of a certain stake in SmartShift Logistics Solutions Private Limited (Target) jointly by Kedaara Sapphire Holding and Kedaara Capital Fund IV AIF (Acquirers)
July 9, 2025


Commission approves acquisition of certain businesses of UBS AG by 360 ONE Entities
July 9, 2025


No directions given to Banks to close inactive PM Jan Dhan Yojana accounts: Department of Financial Services, M/o Finance
July 8, 2025


High-level review held to fast-track infrastructure projects worth Rs.36,296 crore in Gujarat and Rajasthan
July 8, 2025


Markets decline in early trade amid caution ahead of tariff deadline, weak Asian peers
July 7, 2025


Asian shares are mostly down as Trump's tariff deadline looms, pressure steps up
July 7, 2025


Rupee falls 26 paise to 85.66 against US dollar in early trade
July 7, 2025


Trump threatens additional tariffs on countries aligning with 'Anti-American policies of BRICS'
July 7, 2025


More News

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Service to humanity is Service to God

May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

- Swami Vivekananda, CW, 5:137

 

 

 

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