Delhi High Court held that approval accorded in terms of section 153D of the Income Tax Act in a mechanical manner without application of mind is unsustainable in law. Accordingly, appeal of revenue dismissed and assessment order quashed.
RBI revises Basel III norms, excluding certain AIFI investments in long-term bonds from the 25% HTM ceiling. Changes effective from April 1, 2025.
CBIC unveils trade facilitation measures, combats counterfeit currency, and detects ₹80 crore GST fraud. Key developments from International Customs Day 2025.
IFSCA revises SNRR account rules, allowing IFSC units to open accounts outside IFSC for business transactions. New regulations take effect from January 14, 2025.
IFSCA replaces Bullion Exchange Regulations with Bullion Market Regulations 2025, expanding scope, refining definitions, and enhancing regulatory clarity.
GST registration in Jharkhand & Andaman now requires biometric Aadhaar authentication and document verification at GST Suvidha Kendras. Learn the new process.
The company had canceled its CST registration effective from March 31, 2014, and argued that it had not imported any goods from other states or countries for incorporation in its works contracts.
Understand tax rules for debt mutual funds based on purchase date. Learn about slab rates, LTCG tax, indexation, and rebate eligibility under Section 87A.
Assessee-company was involved in manufacturing tractors, agricultural equipment, and spare parts, also operated a technology center providing IT and engineering services to Deer Associates.
Bombay HC upholds ITAT ruling, stating unpaid service tax isn’t taxable under Section 43B unless claimed as a deduction. Appeal dismissed.
