ITAT Mumbai rules that compensation received for a “right to sue” is not taxable as capital gains, citing Section 6 of the Transfer of Property Act and the non-transferability of such a right.
ITAT Bangalore sets aside cash deposit addition for Anilraddi Karakalli, allowing new evidence for fresh AO review. The case concerns unexplained cash deposits and contract work income.
ITAT Mumbai reverses disallowance of Rs.1.58 Cr legal and professional fees for Avitel Post Studioz Limited, holding it as revenue expenditure incurred for business purposes, not capital.
ITAT Bangalore sets aside CIT(E)’s unreasoned rejection of 80G approval for Hanumad Janma Bhoomi Teertha Kshetra Trust, directing fresh consideration of its charitable activities.
ITAT Bangalore dismisses Revenue appeals, ruling no TDS required on salary reimbursement for seconded employees. The court determined the Indian entity was the economic employer, and payments were not for technical services.
The ITAT Delhi has revised its hearing notice protocols. Physical notices will now be sent only once, with subsequent dates available online and via email.
SEBI seeks public input on easing norms for non-convertible securities by revising annual report dispatch rules. Comments open till August 15, 2025.
The IFSCA has released guidelines clarifying eligibility criteria for Key Managerial Personnel (KMPs) in Fund Management Entities (FMEs) under new regulations, addressing experience and qualification requirements.
Madras High Court rules against clubbing GST show cause notices for multiple financial years, emphasizing separate assessments and limitation periods per financial year.
Supreme Court holds that tax officer must issue final order under GST Section 129(3), even if tax and penalty are paid, to preserve right of appeal.
