Madras HC rules on DXN Herbal’s tax deduction claims under Section 80IB & 43B. Key issues include manufacturing status, excise duty, and revised tax returns.
It is well settled that once a statute prescribes a specific period of limitation, the Appellate Authority does not inherently hold any power to condone the delay in filing the appeal by invoking the provisions of Section 5 or 29 of the Limitation Act, 1963.
Gauhati HC voids CGST Notification No. 56/2023, citing lack of GST Council recommendation and unjustified COVID-19 rationale. Read the case’s key legal findings.
ITAT Jaipur held that addition under section 68 of the Income Tax Act towards unsecured loan is untenable since loans accepted were repaid in the same year and all the transactions were carried out through banking channels. Accordingly, appeal of revenue dismissed.
A concise summary of notifications and circulars for the week ending 16th Feb 2025, covering Income Tax, GST, SEBI, RBI, and more.
This Valentine’s, Fall in Love with Simpler Tax Laws! The proposed Income Tax Bill 2025 aims to overhaul the existing Income Tax Act of 1961 by simplifying complex tax laws and making them easier for taxpayers to understand. Set to take effect on April 1, 2026, the new bill reduces the number of sections and […]
In the legal domain, AI’s role is increasingly critical, particularly in patent law, where the question of inventorship and patentability of AI-generated inventions is under scrutiny.
Delhi HC directs Customs to release detained gold, iPhone, and more after failure to issue a Show Cause Notice within six months. Read the full case summary.
Learn how to apply for a Lower Tax Deduction Certificate (LTDC) under Section 197 to reduce TDS, improve cash flow, and optimize tax savings.
RBI revises Basel III norms, excluding certain AIFI investments in long-term bonds from the 25% HTM ceiling. Changes effective from April 1, 2025.
