Delhi ITAT ruled that where sales are accepted, full purchase disallowance is unjustified. Citing Bombay HC, it restricted the addition for bogus purchases of Rs. 23.5 Cr to 12.5% profit element.
ITAT Delhi rules that reassessment beyond 10 years is void, holding satisfaction note date governs limitation; ₹2.25 Cr addition for AY 2012-13 deleted.
CBIC announced the launch of GSTAT with an e-Courts portal, Swachhata campaign, and clarified DIN usage in GST and Customs communications.
GST Rules 42 & 43 mandate ITC reversal for common credit related to exempt supplies. Zero-Rated Supplies (exports, SEZ) are excluded from the reversal calculation.
ITAT restores Sunil Shigli’s appeal after CIT(A) summarily dismissed it over a supposed 4-day delay. Tribunal directs re-examination of delay and adjudication on merits of HRA and Chapter VIA addition.
ROC Delhi imposed ₹76,500 penalty on Hexafun Private Limited and two directors u/s 42(9) for 51-day delay in filing Form PAS-3 after CCD allotment.
The Invoice Management System (IMS) ends automatic ITC population in GSTR-3B from Oct 2025. Taxpayers must Accept, Reject, or Pend B2B invoices via the GST portal.
NCLAT rejected an IBC appeal filed 17 days late, confirming the absolute 45-day statutory limit (30 days + 15 days condonable) for filing under Section 61(2).
RBI directions effective Oct 1, 2025, revise the limit for foreign currency/rupee-denominated Perpetual Debt Instruments (PDIs) in Additional Tier 1 capital to 1.5% of RWAs.
RBI has capped inclusion of Perpetual Debt Instruments (PDIs) denominated in foreign currency/rupee bonds in Additional Tier 1 capital for Small Finance Banks at 1.5% of Risk Weighted Assets, effective October 1, 2025.
