ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do not receive payments in their own right.
Bombay High Court rules that service tax cannot be imposed solely on income tax return data. The department may issue a fresh notice for income from other sources.
Andhra Pradesh HC quashes GST assessment order due to missing DIN, citing Supreme Court and CBIC guidelines. Fresh assessment directed with proper notice and DIN.
Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricultural income exemption claim.
Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi High Court’s decision in PCIT vs. Dev Technofab Ltd.
Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incriminating material for reopening assessments.
IBBI updates reporting rules for insolvency professionals, requiring timely assignment updates on its portal for CIRP, liquidation, and personal guarantor cases.
ITAT Kolkata invalidates reassessment in Pradip Kumar Jajodia HUF case, citing lack of tangible evidence for alleged bogus LTCG on penny stock transactions.
RBI directs agency banks to stay open on March 31, 2025, for government transactions, ensuring financial year-end payments and receipts are processed on time.
SEBI proposes a mechanism to manage unclaimed client funds and securities with Trading Members. Public comments invited until March 4, 2025.
