ITAT Delhi ruled that a diary alleged to show undisclosed income cannot sustain a Rs. 27 crore addition, as it was not seized, lacked corroboration, and mere voluntary surrender by the assessee is insufficient for assessment.
CBIC implemented GST rate changes (Sept 22,2025). Handicrafts cut to 5%, bricks/tiles to 12%. Job work reduced to 5%/1.5%. Individual insurance made exempt.
PFRDA celebrated NPS Diwas 2025 with new pension schemes, MoU with NABARD, gig worker outreach, and discussions on strengthening India’s retirement security.
Bangalore ITAT grants S80P(2)(a)(i) deduction on interest from co-op society’s statutory investments, citing SC rulings that S80P must be interpreted liberally.
Agra ITAT confirms deletion of Rs. 6.77 Cr addition u/s 68, ruling the scrap trader’s bank credits were fully explained by GST, loans, VAT refund, and internal transfers, backed by evidence.
ITAT Mumbai rules Avana Global’s freight and inland haulage income is exempt under Article 8 of the India-UAE DTAA, rejecting the S44B tax stand and following High Court precedent.
Tribunal held that interconnected flats forming a single residence count as “one house” for Section 54F exemption and quashed PCIT’s revision, ruling that AO’s detailed enquiry could not be overturned.
Learn the role of Independent Directors (IDs) under the Companies Act, 2013, and SEBI LODR in ensuring good corporate governance. IDs provide oversight, protect minority interests, and enhance transparency and accountability on the board.
Understand the statutory framework of Branch Audit under the Companies Act, 2013, including the role of the branch and central auditors. Learn about their responsibilities, reporting requirements, and the reliance on SA 600.
Understand the transition from the Income-tax Act, 1961, to the 2025 Act, effective April 1, 2026. This summary clarifies how the legacy law governs pending obligations, assessments, appeals, and tax returns for prior financial years.
