CBIC’s Notification 40/2025 amends the Sea Cargo Manifest and Transshipment Regulations, 2018, extending a compliance date to September 30, 2025.
Gujarat High Court held that reassessment under section 148 of the Income Tax Act is liable to be quashed in as much as all the necessary information were supplied by the assessee and there was no failure to disclose any material fact. Accordingly, reopening quashed.
NCLAT Delhi held that statutory provisions of section 43 of the Insolvency and Bankruptcy Code [IBC] empowers resolution professional to file application for avoidance of preferential transactions. Hence, application filed by homebuyers rightly not entertained.
Bombay High Court held that since issue already examined during the course of assessment proceedings, re-opening of assessment on same issue amounts to change of opinion. Thus, re-opening based on change of opinion is not sustainable.
Understand GST applicability on stockbroker charges like brokerage, STT, Stamp Duty, and more. Learn which fees incur GST and which are exempt in securities trading.
Gujarat High Court held that reassessment order passed under section 148 of the Income Tax Act is liable to be quashed and set aside due to non-consideration of the reply in the assessment order. Accordingly, order set aside and matter remanded back to AO.
IFSCA seeks public comments on its revamped regulatory framework for global market access in IFSC, introducing tiered net worth, enhanced oversight, and revised fee structures.
ITAT Ahmedabad held that claim of exemption under section 54F vide return of income filed in compliance to notice u/s. 148 needs to be evaluated by AO. Accordingly, matter restored back to the file of J.A.O. for making necessary verification for exemption claim.
Allahabad High Court rules Uttar Pradesh’s 2019 anticipatory bail restrictions are invalid after the repeal of CrPC, 1973, and enactment of BNSS, 2023, due to implied repeal.
The Karnataka High Court has set aside the state government’s order to withdraw 43 serious criminal cases, including those from the 2022 Hubballi riots, citing a violation of Section 321 CrPC.
