Madras High Court rules non-refundable life membership fees for private clubs are capital receipts, not taxable income, aligning with Supreme Court-affirmed precedents.
ITAT Kolkata remands a best judgment assessment case against Tanveer Alam, directing fresh adjudication after the assessee presented new cash summaries, audit, and valuation documents.
ITAT Indore has remanded a case to the CIT(A) for de novo adjudication after finding the appellate authority ignored the assessee’s reply and tax computation, violating natural justice.
Calcutta High Court rejects Customs Department’s appeal against Supreme Petrochem Ltd. on valuation, citing jurisdictional bar under Customs Act Section 130(1).
SEBI circular dated July 29, 2025, removes mandatory CP codes for NRIs in exchange-traded derivatives, simplifying position limit monitoring for enhanced investment ease.
New IT Bill 2025 raises effective tax on LLP long-term capital gains from 12.5% to 18.5%, expanding AMT scope regardless of deductions.
