The Bombay High Court held that communication of an ITAT order to a Chartered Accountant does not constitute service on the assessee, condoning a 40-day delay in filing appeal.
The ITAT held that approvals granted under Section 153D without genuine application of mind are invalid, quashing multiple assessment orders. Key takeaway: mechanical or blanket approvals violate procedural requirements and render assessments null.
RBI amends FEMA regulations to allow exporters 15 months, up from nine, for repatriating export proceeds, providing greater flexibility in compliance with foreign exchange rules.
The IBBI held that details sought under RTI regarding Swastik Ispat Pvt. Ltd. were already hosted on its website, disposing of the appeal accordingly.
The 2025 amendments to the IFSCA (Performance Review Committee) Regulations enhance transparency, ethical standards, and risk management oversight for improved regulatory governance.
The IFSCA has proposed a regulatory framework defining how investment advisers can provide implementation services in IFSC, seeking stakeholder feedback by December 3, 2025.
Description: Proposed amendments to ICDR Regulations aim to streamline IPO compliance by addressing pledged-share lock-in issues and replacing the abridged prospectus with concise offer summaries.
Citing statutory requirements and CBIC circulars, the Court held that Section 74 cannot be used mechanically without evidence of intent to evade tax, resulting in quashing of orders.
The ROC Ahmedabad penalized the company and its director for failing to appoint independent directors and constitute an audit committee within the mandated timeline. The order outlines the default period, penalty amounts, and compliance requirements.
The ROC Ahmedabad levied penalties for failing to appoint a Company Secretary within the required timeframe after capital increase triggered Section 203 compliance. The order details the 408-day delay and the imposed penalty amounts.
