The CAAR clarified that specialized Temperature Test Chambers perform physical analysis rather than electrical measurement, justifying classification under subheading 9027 89 90. The ruling emphasized alignment with HSN explanatory notes and global BTI precedents.
Bombay High Court held that grant of approval under section 153D of the Income Tax Act cannot be merely a ritualistic formality. Thus, proceedings u/s. 153A, based on approval u/s. 153D granted without application of mind, is vitiated.
CBDT notifies a State Pollution Control Board as exempt under Section 10(46A), effective AY 2024-25. The decision confirms tax-free status for statutory environmental regulators.
A statutory authority has been formally notified for exemption under Section 10(46A) with effect from AY 2024-25. The approval is conditional on continued operation under its governing Act and eligible purposes.
CBDT notifies tax exemption for a development authority under Section 10(46A), effective from AY 2024-25. The ruling confirms retrospective benefit with no adverse impact on taxpayers.
RBI has clarified that no new Urban Co-operative Banks or conversions will be permitted. It has also adopted a four-tier structure based on deposits to ensure proportionate regulation and stability.
ICSI Western Region Convocation on 4th January 2026 will award membership certificates and prizes to eligible members. Registrations close 19th December 2025.
NFRA conducts workshops and surveys to support small and medium audit firms, aiming to enhance compliance, audit standards, and financial reporting practices.
ITAT Ahmedabad ruled that a notice under section 148 issued beyond the statutory period is invalid, quashing a ₹115 crore reassessment of a share-trading company. The Tribunal emphasized adherence to “surviving time” limits, making the reassessment void.
Explains how the DPDP Act affects everyday tax work, emphasising informed consent, data minimisation, and secure handling of financial documents.
