India imposes 5-year anti-dumping duty on Acetonitrile imports from China, Russia, and Taiwan to address injury to domestic industry.
India imposes five-year anti-dumping duty on aluminium foil imports from China up to 80 microns, citing injury to domestic industry.
ITAT Nagpur rules against arbitrary 10% cash deposit addition under Section 69A, stating no income can be deemed if explanations are credible.
Delhi High Court held that penalty imposed under section 276B of the Income Tax Act is liable to be set aside on account of section 278AA of the Income Tax Act as reasonable cause shown. Accordingly, petition by revenue dismissed.
CBDT grants income tax exemption to Kerala Toddy Workers’ Welfare Fund Board for specific income, effective from AY 2022–23 to 2026–27.
The language of the Circular does not expand or alter the scope of the previous Notifications, but cements the claim of the merchant exporters, who were entitled to receive the benefit of AIR customs duty drawback since 2007.
The fact that the AO had in fact did not claim any carry forward of loss in the next assessment year would not be destructive of the petitioner’s right to exercise its option in terms of Rule 9(1) of the DTVSV Rules. Hence, the present petition is allowed.
Calcutta High Court dismisses Income Tax Department’s appeal regarding unexplained cash credit from share capital, citing a previous binding decision.
Calcutta HC rules in PCIT vs Abhijeet Enterprise that Section 68 doesn’t apply to shares allotted for a liability if no actual cash is exchanged, citing key precedents.
ICAI Board of Studies announces virtual exam preparation series for CA Final students appearing in September 2025, starting July 28, 2025.
