ITAT Bangalore condoned a 247-day delay in filing appeals caused by email miscommunication and change of accountants. The Tribunal restored Section 80P(2)(a)(i) deductions for cooperative society interest income.
The Council cleared changes to CLDP, CSEET, and training programmes. The key takeaway is a stronger, more structured pathway for Company Secretary aspirants.
The court directed the Board of Advance Rulings to expedite the disposal of a pending application under Section 245Q, ensuring timely filing of tax returns by the petitioner.
The government clarified that shell companies are not defined in company law, but inactive entities are removed through statutory strike-off provisions. The key takeaway is that enforcement relies on existing legal mechanisms.
The government disclosed large-scale strike-offs of inactive and non-compliant companies. The key takeaway is stricter enforcement of filing and operational requirements.
The Government stated that GST 2.0 simplifies the tax structure to stimulate consumption, investment, and job creation. The key takeaway is that rate rationalisation is expected to support GDP growth and formalisation.
Higher thresholds, quarterly returns, waived registrations, and faster approvals were introduced to ease MSME compliance. The ruling stresses simplification as a tool for economic formalisation.
The court directed the refund of TDS erroneously deducted from an arbitral award, ruling that interest on the TDS is not payable. The Execution Petition was disposed of accordingly.
Authorities identified thousands of fake GST registrations created using forged credentials, involving large-scale tax evasion. The ruling highlights intensified detection and enforcement measures.
A uniform 18% and 5% GST framework was implemented nationwide following Council recommendations. The ruling highlights its role in supporting small businesses through lower taxes on essential goods.
