ITAT Hyderabad rules against the re-taxing of a gift, stating that revisiting the same facts to make a new addition is an impermissible “change of opinion.”
Delhi High Court allows prosecution of Raj Kumar Kedia in a Rs. 700 crore accommodation entry scam, confirming the authority of the Principal Director (Inv.) to grant sanction.
India’s new Income Tax Bill, 2025, simplifies the tax system by creating a single ‘Tax Year,’ reducing litigation, and offering new benefits like refunds for late filings and tax relief for vacant properties.
The NCLT Kolkata ruled that a bank guarantee can be invoked during the Corporate Insolvency Resolution Process (CIRP) moratorium, citing the IBC’s Section 14(3)(b) and key precedents.
NCLT Mumbai admits Avendus Finance’s insolvency petition against Acute Retail Infra. The court found debt and default, rejecting the corporate debtor’s objections, including the argument about a lack of specific board resolution.
Addition under section 68 for Long-term capital gains (LTCG) from sale of shares allotted pursuant to a demerger scheme as bogus and alleged that price manipulation based on a report from the Investigation Wing of the Income tax Department was not justified as the assessee proved genuineness by comprehensive documentary evidence.
The Ministry of Road Transport & Highways introduces a new annual FASTag pass for non-commercial vehicles, effective August 15, 2025, allowing for 200 crossings.
The Doctrine of Pious Obligation, which required sons to repay ancestral debts, was abolished by the 2005 Hindu Succession Act, with exceptions for pre-2005 debts.
ITAT Ahmedabad rules that employer contributions to an annuity plan are not taxable for VRS retirees until the benefits are actually received, providing relief from double taxation.
Learn about the Komal Gurumuk Sangtani v. ITO case, where the Mumbai ITAT clarified what property improvement costs can be deducted when computing capital gains.
