Delhi High Court rules blocking of GST Input Tax Credit (ITC) under Rule 86A cannot exceed one year, providing relief to Shri Sai Ram Enterprises.
ITAT Ahmedabad held that revisionary order passed under section 263 of the Income Tax Act in the name of non-existent entity (amalgamated company) is liable to be quashed. Accordingly, the appeal of the assessee is allowed.
Petitions challenging India’s quantitative restrictions on LAM Coke imports dismissed. Court ruled safeguard measures are not subject to FTP’s transitional clause.
Supreme Court clarifies High Court’s Article 227 limits, stating it cannot reject a plaint bypassing CPC procedures and trial court jurisdiction.
Kerala High Court rules GST on club-member transactions unconstitutional, upholding mutuality principle against retrospective tax amendments. Implications for societies and clubs.
Delhi High Court refuses to interfere in a ₹550 crore GST demand against Montage Enterprises, citing lack of diligence and availability of alternative appellate remedies.
Summary of key regulatory updates in India (Apr 28-May 4, 2025): New ITR forms, GST changes, Customs/DGFT rules, SEBI amendments, IBBI rulings, RBI directives, and SC judgments.
Understand AS 4 on events occurring after the balance sheet date, distinguishing adjusting and non-adjusting events and their impact on financial statements.
ITAT Ahmedabad held that claim of assessee that income declared under Pradhan Mantri Garib Kalyan Yojana [PMGKY] and hence the same should not be treated as unexplained deposits needs verification. Hence, matter remitted to AO to verify the same.
CESTAT Chennai dismisses tax appeals against Orchid Healthcare, ruling pre-resolution government dues not in NCLT plan are extinguished, citing Supreme Court.
