TAT Mumbai held that the addition of Rs. 3.05 crore u/s 69A of the Income Tax Act was based on suspicion, ruling it as impermissible without proper inquiry.
NCLAT Delhi held that the commercial wisdom of the Committee of Creditors [CoC] in rejecting resolution plan and opting for liquidation is non-justiciable. Accordingly, held that NCLT rightly refused to intervene in decision of CoC.
Kerala High Court held that revision proceedings under section 263 of the Income Tax Act righty invoked as claim was accepted by assessing officer without any enquiry. Accordingly, jurisdiction rightly invoked.
ITO Vs Shivsahyadri Sahakari Pathpedhi (ITAT Mumbai) – Credit co-operative society investments in co-operative bank claimed as allowable u/s. 80P(2) because co-operative banks are also registered under co-operative society
CBIC amends Customs Act notification, adding Kishangarh, Rajasthan, as an approved location for unloading imports and loading exports.
SEBI mandates due diligence certificates for unsecured debt securities. Issuers must submit certificates at draft offer and listing stages per new guidelines.
Finance Ministry designates key Income Tax Dept. IT systems as protected under the IT Act. Learn about restricted access and authorized personnel.
IBBI revises liquidation regulations, introducing compliance updates, filing requirements, and due diligence for bidders under the Insolvency and Bankruptcy Code.
IBBI amends Voluntary Liquidation Process Regulations, 2025, introducing new filing timelines, form submissions, and compliance requirements for liquidators.
ITAT deletes addition of Rs. 48.48 lakh for penny stock investment, ruling that no concrete evidence was presented by the Income Tax authorities.
