ITAT Indore rules excess stock surrendered during survey by Suresh Aluminium is business income, not unexplained, directing normal tax rates. Cites key precedents.
Punjab & Haryana HC rules CIT cannot direct penalty initiation via Section 263, reinforcing independence of assessment and penalty proceedings.
CCPA advisory directs e-commerce platforms to self-audit for deceptive “Dark Patterns” within 3 months, aligning with consumer protection rules and promoting fair digital trade.
Gujarat HC sets aside reassessment for Krupesh Thakkar. AO incorrectly invoked Sec 2(22)(e) for a loan assessee gave, not received from Rushil Decor Ltd.
The Madras High Court dismissed the Revenue’s appeal regarding the set-off of brought forward business losses against capital gains, citing prior judgment.
Madras High Court upholds invalidity of reassessment in CIT v. Schwing Stetter India P. Ltd., reinforcing change of opinion doctrine and assessee disclosure.
Madras High Court sets aside reassessment notice against Asianet Star Communications, citing non-existent entity and lack of new material.
SEBI issues framework for ESG debt securities, including social, sustainability, and sustainability-linked bonds, to guide listed and prospective issuers.
SEBI circular relaxes rules for listed non-convertible debt securities, extending relief from sending physical documents until September 30, 2025, aligning with MCA guidelines.
IFSCA updates AML/CFT/KYC rules, streamlining CKYCR usage, refining proof of address requirements, and specifying compliance for IFSC entities.
