ITAT Ahmedabad held that disallowance of interest u/s. 36(1)(iii) of the Income Tax Act not justified since the amount introduced by way of unsecured loans proved to be genuine. Accordingly, disallowance of interest deleted.
Supreme Court clears HDFC Bank officials of liability for allowing locker operation, quashes FIR due to lack of fraudulent intent and mens rea.
Understand SEBI guidelines on tracking trades of designated persons after resignation, focusing on maintaining contact details and handling unpublished price-sensitive information.
ITAT Lucknow rules that penalty under Section 271(1)(c) cannot be imposed for disallowance of Section 80P deduction due to legitimate, disclosed claims.
IRDAI drafts new regulatory sandbox amendments to encourage insurance sector innovation and streamline compliance. Public comments are invited until November 25, 2024.
NPCI advises on ATM cash retraction to prevent shutter overlay frauds, following RBI guidelines. Banks to implement risk measures and customer awareness programs.
Hyderabad ITAT rules that taxpayers cannot make fresh deduction claims under Section 80IA in response to a notice issued under Section 153A after a search.
RBI provides an update on the withdrawal status of ₹2000 banknotes, with 98% of notes returned by October 31, 2024.
ITAT Mumbai upholds long-term capital gains legitimacy in Bhavna Lalit Jain’s appeal, reversing earlier AO additions and clarifying tax treatment.
In Bank of Baroda Vs Ajit Kumar, NCLT Mumbai rules that lack of NOC doesn’t nullify security documents during insolvency proceedings.
