ITAT Raipur held that addition under section 68 towards unsecured loan from related party cannot be sustained since identity, creditworthiness of lender and genuineness of transaction proved. Hence, appeal of revenue dismissed.
Delhi High Court held that imposition of condition in case of provisional release of seized goods is discretionary and hence directed furnishing of bank guarantee to the tune of 30% of the differential duty instead of 130%.
Andhra Pradesh High Court held that time permit set out under section 73(2) of the Central Goods and Services Tax Act [CGST Act] is mandatory and any violation of that time period renders show cause notice bad-in-law.
Madras High Court held that the Baggage Rule, 2016 will apply only to the baggage and not to the jewellery worn in person. Accordingly, petition is allowed and confiscation order quashed.
SEBI introduces new regulations mandating public consultation and stakeholder engagement in rule-making to enhance transparency in securities market governance.
ITAT Raipur held that order of transfer of case under section 127 of the Income Tax Act without granting opportunity of being heard to appellant is bad-in-law. Accordingly, matter restored back to file of CIT(A).
SEBI invites public comments on strengthening ESG Rating Providers. Feedback can be submitted online by March 6, 2025. Read the consultation details here.
Kerala High Court held that court cannot interfere with order of settlement commission if challenge is merely that Settlement Commission has chosen to take one of two possible views that can be legally taken in respect of an issue. Accordingly, writ disposed of.
RBI outlines Exim Bank’s $120M credit line to Vietnam for High-Speed Guard Boats. Includes disbursement details, export compliance, and banking guidelines.
RBI issues guidelines for Exim Bank’s $180M credit line to Vietnam for Offshore Patrol Vessels. Details on disbursement, export policy, and compliance.
