Madras HC discharges auditor Murali Krishna Chakrala in money laundering case linked to bogus imports, citing lack of direct involvement and cooperation with ED.
ITAT Bangalore cancels ₹2.20 lakh penalty on Rajiv Duseja for cash loans from family. Cites precedents on genuine transactions & reasonable cause.
Revenue argued that the refund claims were time-barred and that Section 27 of the Customs Act should apply strictly. They further submitted that the Supreme Court had not conclusively resolved the divergence between the Delhi and Bombay High Court positions. On appeal.
RBI’s April 2025 amendments to the Liquidity Coverage Ratio (LCR) improve bank liquidity by adjusting run-off rates and market value of government securities.
Patna High Court grants bail to an accused in an alleged ₹33 crore GST invoice scam, citing lack of proper evidence for arrest.
Understand how R elated Party Transactions differ from Section 188 approvals under the Companies Act, 2013, and when Board or Audit Committee approval is needed.
ITAT Kolkata held that reopening of assessment is invalid since reasons recorded are vague and scanty and PCIT has granted approval in mechanical manner. Accordingly, reopening of assessment is liable to be quashed.
ITAT Delhi held that assessment passed on a non-existing entity [i.e. Union Bank of India] not sustainable since the same is amalgamated with Punjab National Bank and accordingly, Union Bank of India has lost its existence.
SEBI updates REIT regulations, including new rules for common infrastructure, SM REIT offerings, and investment conditions, effective upon publication.
The Central Government notifies the National Mission for Clean Ganga as exempt from income tax under Section 10(46A), effective AY 2024-25.
