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

Provision for Doubtful Debts Not Added to Book Profit Under Section 115JA Explanation for MAT Calculation
July 11, 2025   Case Laws     Income Tax

ITAT Allows Deductions Under Sections 80P(2)(d) and 80P(2)(iv), Rejects Section 14A Disallowance
July 11, 2025   Case Laws     Income Tax

Section 71(2) allows set-off of business losses against other income heads without sequence restrictions, supporting tax planning
July 11, 2025   Case Laws     Income Tax

Assessee in reinsurance not a permanent establishment in India under MLI Article 5; income not taxable here
July 11, 2025   Case Laws     Income Tax

ITAT Allows Deletions of Gross Profit Additions and Foreign Creditor Claims Under Section 41(1)(a)
July 11, 2025   Case Laws     Income Tax

ITAT confirms exclusion of non-comparable entities under transfer pricing rules, directs ALP recalculation with revised comparables
July 11, 2025   Case Laws     Income Tax

Detention of gold bangles without show cause notice violates Section 124; immediate release ordered within two weeks
July 11, 2025   Case Laws     Customs

Promoters barred from trading and directorship for violating SEBI rules and Section 67 of Companies Act
July 11, 2025   Case Laws     SEBI

Reopening assessment invalid without proper review of retracted statement under tax law provisions
July 11, 2025   Case Laws     Income Tax

Approval under Section 151 without valid signature invalidates Section 148 notice; reassessment under Sections 143(3) 147 quashed
July 11, 2025   Case Laws     Income Tax

SEZ Unit Wins Appeal Against Confiscation of Imported Used Computer Parts Under Foreign Trade Policy
July 11, 2025   Case Laws     Customs

Service Tax Demand Quashed: Services Not Authorized Under Section 65(105)(zo), RCM Demand Time-Barred
July 11, 2025   Case Laws     Service Tax

Demand for service tax recovery barred due to lack of willful suppression under limitation rules
July 11, 2025   Case Laws     Service Tax

Regular Bail Granted Under Sections 132 and 137 of CGST and Gujarat GST Act, 2017 with Conditions
July 11, 2025   Case Laws     GST

Petitioner's IGST Refund Denial Under Rule 96 Was Improper; Appellate Authority Must Reconsider Evidence
July 11, 2025   Case Laws     GST

Assignment of leasehold rights is not a supply and exempt from GST under Section 7(1)(a) and Section 9
July 11, 2025   Case Laws     GST

Insurance claim for horse death taxed as capital gains under Section 45(1), not business income under Section 41(1)
July 11, 2025   Case Laws     Income Tax

Penalty under Sections 271D and 271E Quashed for Being Beyond Limitation Period under Section 275(1)(c)
July 11, 2025   Case Laws     Income Tax

Delay in Filing Form 10IC of 295 Days Condoned Under Section 119(2)(b); Tax Benefits Allowed
July 11, 2025   Case Laws     Income Tax

ITAT Upholds Deletion of Unexplained Creditors Additions, Allows Interest Disallowance Relief Under Section 36(1)(iii)
July 11, 2025   Case Laws     Income Tax

Additions under Sections 69A and 153C deleted due to lack of evidence from third-party seized documents
July 11, 2025   Case Laws     Income Tax

Quicklime with Less Than 98% Purity Classified Under Customs Tariff Item 2522 1000, Appeal Allowed
July 11, 2025   Case Laws     Customs

Consent deal ends fraudulent trading dispute under SEBI rules, allows market access after pay order and debarment completion
July 11, 2025   Case Laws     SEBI

Bail Denied for Accused in Major GST Fraud Involving Over 3,100 Fake Firms Under CGST Act
July 11, 2025   Case Laws     GST

Orphan Minor Recognized as "Individual" Under Section 2(31) of Income Tax Act for Tax Purposes
July 11, 2025   Case Laws     Income Tax

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Natural Justice and Administrative Oversight in Tax Penalties : Clause 471 of the Income Tax Bill, 2025 Vs. Section 274 of the Income-tax Act, 1961
Doctrine of Reasonable Cause in Tax Penalties : Clause 470 of the Income Tax Bill, 2025 Vs. Section 273B of the Income-tax Act, 1961
Voluntary Disclosure and Penalty Waiver under Indian Tax Law : Clause 469 of the Income Tax Bill, 2025 Vs. Section 273A of the Income-tax Act, 1961
Penalties for Non-Compliance with TDCAN/TAN Requirements : Clause 468 of the Income Tax Bill, 2025 Vs. Section 272BB of the Income-tax Act, 1961"
Penalty Provision for PAN/Aadhaar Non-Compliance in Indian Tax Law : Clause 467 of the Income Tax Bill, 2025 Vs. Section 272B of the Income-tax Act, 1961
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

More Notes

Notifications Notifications

ADD

- Amendment in Notification No. 37/2020-Customs (ADD), dated the 11th November, 2020
July 10, 2025

IT

- CG notifies redeemable bonds issued by the Indian Renewable Energy Development Agency (IREDA), in respect of "Long-Term Specified Assets" U/s 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

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

Rubio meets China's foreign minister in Malaysia as US-Chinese tensions mount
July 11, 2025


Latest Economy Observer report from Dun & Bradstreet reveals improvements across industrial activity, cooling inflation, and improving borrowing conditions in India
July 11, 2025


Asian shares mixed after Wall Street closes higher, edges to more records
July 11, 2025


Rupee falls 19 paise to 85.89 against US dollar in early trade
July 11, 2025


Markets decline in early trade dragged down by selling pressure in IT stocks
July 11, 2025


Trump plans to tour Texas flood damage as scope of disaster tests his pledge to shutter FEMA
July 11, 2025


Rubio to meet China's foreign minister in Malaysia as US-Chinese tensions mount
July 11, 2025


Trump plans to hike tariffs on Canadian goods to 35%
July 11, 2025


White House escalates pressure campaign on Fed chair by targeting its headquarters renovation
July 11, 2025


US senators pushing bipartisan bill on new Russia sanctions brief European allies, Ukraine
July 11, 2025


Brazil vows retaliatory tariffs against US if Trump follows through on 50% import taxes
July 11, 2025


UP: EOW arrests key individuals in two major financial fraud cases
July 11, 2025


Cyber slavery: UP cops bust Southeast Asia racket's India link for SIM cards, OTPs
July 10, 2025


Shiv Sena minister Sanjay Shirsat receives I-T notice
July 10, 2025


ED unearths names of agents, immigration agencies after 'donkey-route' raids in Punjab, Haryana
July 10, 2025


More News

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