Parliament abolished compulsory probate to eliminate delays and costs, allowing heirs to enforce wills without mandatory court proceedings.
Explains why statements recorded during investigative summons carry evidentiary value and how careful handling can prevent escalation into prosecution.
The new regulation allows possession of completed real estate units during insolvency, offering timely relief to compliant homebuyers without breaching the moratorium.
Karnataka High Court held that mere change in route, without intention to evade tax, cannot attract penalty under section 129 of the KGST Act. Accordingly, order passed is illegal, arbitrary and contrary to law and hence petition is allowed.
Indian City Properties Limited Vs PCIT (ITAT Kolkata) The Tribunal held that the invocation of Section 263 on the proposal of the AO is not sustainable under the Act, as the PCIT failed to independently apply his mind and record satisfaction of the twin conditions. The assessment was completed under Section 143(3) r.w.s. 144B after […]
This article explains how NCDs offer fixed-return debt without dilution, while CCDs convert into equity, impacting ownership and long-term strategy.
The initiative addresses delays in affordable and mid-income housing by funding only project completion, not developer bailouts. It demonstrates how structured, milestone-based financing can protect homebuyers and restore confidence in stressed real estate projects.
The ITAT held that a penalty under Section 271D cannot survive without recorded satisfaction by the Assessing Officer during pending assessment proceedings.
The Tribunal ruled that non-compliance with the faceless reassessment scheme strikes at jurisdiction itself. JAO-issued notices post-notification were held legally unsustainable.
The shift to system-driven GST compliance has made spreadsheet-based ITC reconciliation ineffective, pushing businesses toward automation for accuracy and early mismatch detection.
