Himachal Pradesh High Court sets aside tax demand against Hindustan Construction Company, directing a fresh review of factual and legal issues by the Assistant Commissioner.
Orissa High Court rules against denying Section 12A income tax exemption solely for delayed audit report. Citing auditor negligence and Covid-19, it directs condonation of 353-day delay.
Supreme Court rules criminal prosecution can proceed despite quashed departmental adjudication, if complaint is based on independent investigation.
The Ministry of Home Affairs has issued a directive for strict compliance with the Flag Code of India, urging states to launch awareness campaigns.
The IFSCA is reviewing its 2020 Global In-House Centres (GIC) Regulations to enhance the ecosystem in GIFT-IFSC. The public can submit feedback on the regulations by August 30, 2025.
ITAT Bangalore restores 80G approval for Rishi Samskruti Vidya Kendra, citing medical emergency for non-appearance. Case remitted to CIT(E) for fresh hearing.
SEBI’s new circular updates the process for reviewing penalties issued by Market Infrastructure Institutions, shifting some appeals to a new board-level committee.
This master circular outlines the comprehensive regulatory framework for Credit Rating Agencies in the IFSC, covering registration, governance, rating processes, and compliance.
The Kolkata ITAT quashes a reassessment notice issued under Section 148, citing it was time-barred. The decision clarifies the application of TOLA and the new reassessment regime.
IFSCA’s new master circular for IFSC distributors details rules for registration, fees, governance, and client responsibilities, including a single-window system and fee regulations.
