CESTAT Mumbai held that imposition of penalty under section 114AA of the Customs Act not justified in absence of any dummy export or any criminal intent involving evasion of duty. Accordingly, provisions are not applicable where export goods have actually been exported.
Telangana High Court held that non-granting of at least seven days for furnishing reply is against the Standard Operating Procedure [SOP] dated 03.08.2022 issued by department. Accordingly, notice and order thereof is not sustainable.
IFSCA introduces rules for Transition Bonds in IFSCs to aid hard-to-abate sectors with ESG-aligned finance and detailed climate transition planning.
ITAT Mumbai held that where the entire foundation of reopening solely based on material found during the search of another person, the appropriate course of action is to proceed under Section 153C, and not under Section 147. Accordingly, reassessment proceedings u/s. 147 quashed.
IRDAI has amended rules for insurance repositories. The change allows more qualified auditors, including CISA and DISA professionals, to conduct the mandatory yearly system audit.
Supreme Court ruling on employee wages during CIRP: Only those who worked are eligible for CIRP costs. Provident, gratuity, and pension funds are excluded from liquidation estate.
Understand the “Pari Delicto” doctrine in contract and tort law, meaning “in equal fault.” Learn how it affects recovery in illegal agreements, its exceptions, and application in insurance contracts in India.
NCLAT rules that a written financial contract is not essential to prove debt existence under IBC. Oral agreements, supported by financial records, can establish debt and default for CIRP initiation.
ICEGATE now supports self-initiated voluntary payments online, replacing manual TR-6 challans at Chennai Air Cargo with digital options from July 19, 2025.
ITAT ruled DTAA exemption cannot be denied solely for non-availability of a Tax Residency Certificate (TRC). Circumstantial evidence can suffice, and DTAA prevails over domestic law.
