CBIC amends arrest guidelines under CGST Act. Grounds of arrest must be provided in writing per Delhi HC judgment in Kshitij Ghildiyal vs DGGI.
Several key notifications and circulars were issued between January 6th and 12th, 2025. In the Income Tax domain, a notification exempting Tax Collection at Source (TCS) for goods sold to IFSC Units was introduced, effective January 1, 2025, with conditions for declaration by buyers.
IFSCA extends the deadline for implementing the complaint handling circular for regulated entities in the IFSC to April 1, 2025, due to operational challenges.
CBIC celebrates IRS officers’ graduation and launches a drug disposal campaign, emphasizing vigilance and public awareness in combating drug trafficking.
The ICAI Disciplinary Committee has fined CA Ankit A. Chokshi Rs. 25,000 after finding him guilty of professional misconduct for failing to report a deposit in a trust’s audit report.
Punjab and Haryana High Court held that action of the department already taken under section 73 of the Central Goods and Services Tax Act, 2017 doesn’t restrain GST authorities from conducting audit. Accordingly, writ dismissed.
Delhi High Court held that initiation of reassessment proceedings under section 148 of the Income Tax Act liable to be quashed in as much as conditions set out in section 150 of the Income Tax Act not fulfilled.
ITAT Ahmedabad held that tax rate u/s. 115BBE of the Income Tax Act increased from 30% to 60% and the same is applicable only with effect from 1st April 2017 and not prior to the same. Hence, appeal allowed to that extent.
NCLAT Delhi held that belated filing of contingent claims (i.e. claims arising from damages and breach of contract) is rightly rejected by the resolution professional. Accordingly, appeal dismissed.
ITAT Delhi remanded the matter back to the file of AO (TDS) for proper verification of quantum of External Development Charges (EDC) for demand of tax under section 201(1) of the Income Tax Act.
