CBDT Circular 8/2025 clarifies that authorities can waive interest under Sections 201(1A)(ii)/206C(7) for past periods, subject to a one-year application window.
ITAT Mumbai held that Private Discretionary Trust whose income is chargeable to tax at maximum marginal rate is not leviable to pay surcharge if the slab rates are below Rs. 50 Lakhs. Accordingly, surcharge is not leviable in the present case and appeal is allowed.
Delhi High Court held that bail application of accused is rejected as there is reasonable ground to believe the accused is found guilty in illegal mining and money laundering. Further, plea to grant bail on medical grounds also rejected as accused condition is stable and regularly reviewed by doctor.
The appellant appears to have given a discount on the gross value of the exports which was reflected in the invoice raised by the appellant as well and hence, appellant received 97% of the gross value of the export in its bank account (Bank of Maharashtra).
Explore key GST rulings from May 2025, covering ITC denial, SCN challenges, involuntary payments, cross-examination rights, SCN validity, penalty for e-way bill errors, and condonation of delay in filing returns.
ITAT Nagpur ruled that loose papers found with a third party cannot justify income addition without corroborative evidence, especially if statements are retracted.
ITAT Bangalore ruled in favor of Thejaswini Jakkaraju, allowing the Section 87A tax rebate on a revised return filed to rectify an omission in the original filing.
This article outlines the essential considerations for incorporating a fintech startup, from choosing the right business structure to obtaining necessary licenses and ensuring regulatory compliance.
Understand trademark registration, its importance for brand protection, and a step-by-step guide to securing your business’s identity and assets.
ITAT Pune condones delay, restores six appeals to CIT(A) for merit-based decision, citing non-compliance with Section 250(6) and assessee’s health.
