SEBI’s 2025 amendment allows employees identified as promoters in IPO filings to retain stock options or benefits granted a year prior, with compliance safeguards.
SEBI’s 2025 amendment to LODR regulations mandates demat issuance of securities and updates disclosure requirements for Not-for-Profit Organizations on the Social Stock Exchange.
Ministry of Finance notification amends the Customs Act, 1962, setting new tariff values for imported commodities like palm oil, gold, silver, and brass scrap.
Madras High Court refused to interfere in order of the Disciplinary Authority imposing stoppage of increment of Assistant Commissioner of Commercial Taxes since there is no perversity in the orders. Accordingly, writ dismissed.
Punjab and Haryana High Court held that claim of petitioner to be treated as Additional Commissioner while being posted at ITAT so as to grant the higher salary cannot be accepted since nothing brought on record stating that duties of higher nature were performed.
ITAT Vishakhapatnam held that dismissal of appeal by CIT(A) merely on account of non-prosecution by the assessee without disposing off on merits is not justifiable. Accordingly, order set aside and matter restored to CIT(A) for fresh adjudication.
ITAT Mumbai held that depreciation on the business/commercial rights arising from the manufacturing contracts, supply contracts and maintenance contracts as claimed by the assessee is allowable. Accordingly, appeal allowed.
ITAT Hyderabad held that addition towards bogus purchases based on supporting documentary evidence, without carrying out necessary verification from GST department, cannot be sustained. Accordingly, matter restored back to file of AO for re-adjudication.
CESTAT Kolkata held that Quicklime is rightly classifiable under Customs Tariff Heading [CTH] 2522 1000 since the purity of Calcium Oxide is less than 98%. Accordingly, order classifying under 2825 9090 set aside.
The issue was regarding the disallowance of depreciation and expenses on retention money. Assessee had purchase contracts with retention money payable after successful performance of machinery and recorded the liability under the mercantile system.
