ITAT Chandigarh held that addition towards bogus Long Term Capital Gain u/s. 153A of the Income Tax Act cannot be sustained in the absence of any incriminating material found during the course of search. Accordingly, appeal allowed and addition deleted.
The Allahabad High Court rejected the second bail application of an advocate accused in a 2019 murder case, citing the trial’s final stage and the accused’s “dilatory tactics” that caused delays.
ITAT Chennai held that deduction under section 80P(2)(a)(i) of the Income Tax Act is admissible to Regional Rural Banks. Accordingly, appeal of revenue dismissed and order of CIT(A) upheld.
A CBI operation in Vijayawada led to the arrest of an Income Tax Inspector and a middleman for demanding and accepting a Rs. 70,000 bribe to prevent tax action.
A Customs Superintendent at Sahar Air Cargo, Mumbai, was arrested by the CBI for demanding and accepting a ₹10.20 lakh bribe to clear consignments.
Notification 130/2025 grants income tax exemption to the Uttarakhand Pollution Control Board, effective from assessment year 2025-26, under Section 10 of the Income-tax Act.
Get ready for the changes in TDS and TCS provisions applicable for FY 2025-2026 to ensure compliance in your financial transactions.
This paper from the IBBI proposes regulatory changes to improve the integrity of India’s corporate insolvency resolution process, focusing on transparency and accountability.
IFSCA has released a consultation paper for a Stewardship Code to enhance investor protection and corporate governance, with a framework of seven guiding principles for institutional investors.
