ITAT Delhi held that deduction under section 54F of the Income Tax Act allowable since the provisions of section 54F allows for construction of the property within a period of three years. Accordingly, appeal allowed.
DGFT Public Notice amends FTP 2023, renaming ‘The Silk & Rayon Textiles Export Promotion Council’ to ‘Manmade and Technical Textiles Export Promotion Council (MATEXIL)’ and updating its contact information for RCMC issuance.
ESTAT Chennai confirms penalties on importer and alleged mastermind for misdeclaration and undervaluation of glass chatons, dismissing cross-examination plea.
NCLAT Chennai upholds rejection of Dr. Thoyajakshi Bai Sakranaik’s plea against Patanjali Hospitals, citing continuous breach of service contract and conduct detrimental to the company.
CESTAT Chennai dismisses Revenue appeal, affirming no redemption fine or penalty when prior Tribunal order set aside goods’ confiscation and penalty.
Delhi High Court quashes a reassessment notice, ruling an AO cannot merely assume escaped income exceeds ₹50 lakh to invoke a longer limitation period without evidence.
RBI extends call money timings to 7 PM from July 1 and repo/TREP to 4 PM from August 1, 2025, based on a review of market trading and settlement hours.
Allahabad High Court overturns appeal dismissal, ruling GST pre-deposit through Personal Ledger Account valid, aligning with Madras HC’s Ford India precedent.
Ahmedabad ITAT quashes 80G approval rejection for Secret Charitable Trust, citing clear violation of natural justice over insufficient response time.
Madras High Court rules GST officers cannot rely solely on portal uploads if unresponsive. Orders fresh assessment after ex-parte order, stressing effective notice.
