New guidelines for GST registration issued to reduce delays, clarify document requirements, and standardize officer procedures for fair application processing.
CCI penalizes UFO Moviez & another firm for anti-competitive digital cinema equipment lease deals affecting content supply. Fines imposed total over ₹2.7 Cr.
IFSCA updates Ancillary Services Framework to broaden trusteeship services, including for FMEs and retail schemes, effective immediately.
SEBI seeks public feedback on increasing MF investment limits in REITs and InvITs and considers classification and scheme changes. Comments open until May 11, 2025.
Calcutta High Court hears bail plea of Santosh Kumar Sah over GST ITC allegations. Questions raised on arrest procedure and lack of incriminating evidence.
Understand relief mechanisms and defences under Section 271D of the Income Tax Act for accepting cash loans or deposits over ₹20,000 in specific circumstances.
Delhi High Court rules personal hearing is mandatory under Section 161 DGST Act when a rectification application adversely affects the assessee, even if the initial order was contested.
Rajasthan HC addresses Alkem Labs’ challenge against an arbitrary income tax adjustment under Section 143(1). Cost imposed for delayed refund.
Kerala High Court rules that once building tax is assessed, the entire amount is payable unless specific amnesty schemes exist; challenges via writ petition are improper if statutory remedies weren’t pursued.
Delhi High Court rules that GST refund granted by appellate authority cannot be withheld solely based on Commissioner’s opinion; pending appeal or proceedings are necessary conditions.
