Institute of Chartered Accountants of India’s Professional Development Committee has released the Multipurpose Empanelment Form for 2025-26. The deadline for submission is September 26, 2025.
ITAT Ahmedabad held that delay in furnishing Form No. 10B is procedural lapse hence it cannot be sole reason for denial of exemption under section 11 of the Income Tax Act. Accordingly, delay in filing 10B condoned and exemption granted.
Additions made on account of cash deposits during the demonetization period and disallowance of loss on the derivative transactions, were remanded for fresh adjudication after the verification of sales records and transaction nature.
The interest was earned from fixed deposits maintained with banks for the purpose of the business and related to the business of assessee. Interest was also earned on refund of taxes due to wrongful deduction of TDS by the customers of assessee.
GST rates reduced for autos, cement, electronics & more. 56th GST Council meeting focuses on rate relief, with limited procedural reforms.
The Reserve Bank of India has updated its FAQs on NBFC-P2P lending, clarifying key terms like ‘person’ and ‘leverage,’ and providing guidance on fund transfers and registration requirements.
Tribunal had imposed a cost of ₹2,000 on M/s. Udai Lal Mahabir Prasad for failing to explain the delay in filing its appeal and remanded the disallowance issue to the Assessing Officer (AO) for fresh adjudication.
An ITAT Delhi ruling has partially allowed appeals by the tax department, reducing significant cash deposit additions and clarifying the applicability of Section 115BBE.
The Delhi Income-tax Appellate Tribunal (ITAT) has ruled that a company must deduct Tax Deducted at Source (TDS) on External Development Charges (EDC) paid to the Haryana Urban Development Authority (HUDA).
The Bombay High Court has criticized Mumbai police for a three-year delay in a hit-and-run case, ordering a departmental inquiry against an officer and fast-tracking the trial.
