ITAT Pune held that denial of exemption under section 10(23C)(iv) of the Income Tax Act merely because of inadvertent error of claiming exemption u/s. 10(46) instead of 10(23C)(iv) is not justifiable. Accordingly, exemption u/s. 10(23C)(iv) granted.
Gujarat High Court quashed CBDT’s rejection and condoned delay in Sysco Industries’ income tax return filing, holding that insolvency and fire caused genuine hardship.
Denial of weighted deduction u/s 35(2AB) for non-furnishing of Form 3CL did not preclude normal deduction u/s 35(1)(i) and depreciation u/s 32, as the research was related to the assessee’s business.
The RBI’s 2025 Master Direction expands eligible collateral for repo transactions to include municipal debt securities, enhancing liquidity options for market participants.
Allahabad HC set aside lease cancellation order and directed Greater Noida Authority to restore plot, holding restoration vital for completing homebuyers’ project under IBC.
Non-filing of FY 2020-21 Annual Return led to Rs. 1.48 lakh company and Rs. 50k officer penalty, highlighting strict compliance enforcement under Section 92(5).
ROC Mumbai imposed penalties for non-compliance with Section 12(1) of the Companies Act as the company failed to maintain its registered office despite change filings.
NCLAT set aside NCLT Kolkata’s order and held that ICICI Bank’s overdraft facility backed by fixed deposits constituted a valid security interest.
Madras High Court remitted GST assessments to authorities after finding that Hind Aluminium failed to substantiate its replies and VAT turnover was included.
Bombay High Court quashed reassessment notices and order for AY 2018 19 after finding they were issued to a deceased individual, explaining that jurisdiction requires serving a living person.
