ITAT Raipur held that in case of bogus/ sham transactions it is the responsibility of revenue authorities to investigate and decide that whether bogus transactions fall within the category of tax planning or tax evasion. Accordingly, matter restored back to AO for fresh consideration.
Delhi High Court rules that the GST refund limitation period starts from the conciliation agreement date, not tax payment, when excess tax is determined by the agreement.
Karnataka High Court rules clerical errors in tax invoices, without intent to evade tax, do not justify confiscation of goods under Section 130 of the CGST Act.
Delhi High Court states that the State’s delay in filing appeals for serious offenses can hinder victims’ pursuit of justice, eroding trust in the legal system.
Ministry of Finance notifies IREDA bonds issued post-July 9, 2025, as long-term specified assets under Section 54EC for income tax exemption.
SEBI has clarified that close-ended Alternative Investment Funds (AIFs) can make fresh investments during their extended tenure, provided fund documents allow and disclosures are made.
SEBI advises Shivalik Bimetal Controls Limited on promoter reclassification to public, stating shareholder approval is required due to a related promoter holding over 1% voting rights.
RBI issues draft guidelines for novation of OTC derivative contracts. Stakeholders can submit comments by August 1, 2025. New rules replace 2013 directions.
A guide for residents buying property in India from non-residents. Understand TDS under Section 195, payment modes, and legal compliance to avoid penalties.
Article discusses GST applicability on affiliation fees collected by universities from affiliated colleges—a concern now putting academic institutions under lens of taxation authorities.
