ROC Chennai held that non-filing of the secretarial audit report violates Section 204. Directors were penalised for prolonged non-compliance across multiple years.
The Tribunal found that CIT(A) erred by linking the protective addition to another company. The assessment was remanded for correct identification of the beneficiary.
The Court held that a lawful auction cannot be scrapped merely because the authority expects a better price later. Once the highest bid exceeds the reserve price and no illegality exists, cancellation is arbitrary.
The Court held that a later sworn admission by the employer conclusively proved employment and work-related death. The High Court erred by ignoring this and upsetting a valid factual finding.
NFRA held that weak, undocumented communication between auditors and governance bodies violates auditing standards and governance duties, requiring structured two-way engagement.
The judgment clarifies that courts must first be satisfied about sufficient cause for delay before entertaining a belated cheque bounce complaint. Any reverse procedure violates Section 142 of the NI Act.
The government notifies a statutory industrial authority under section 10(46A) of the Income-tax Act. The ruling confirms eligibility while making compliance with the parent State Act a continuing condition.
The CBDT notified a statutory development authority for income-tax exemption under Section 10(46A), effective from AY 2025–26, subject to continued statutory functions.
The regulator notified comprehensive 2025 guidelines to govern NPS Vatsalya, detailing eligibility, contributions, investments, and withdrawals for minors. The move clarifies operations and ensures a structured transition to regular NPS on attaining adulthood.
The draft Directions introduce stricter eligibility and capital-linked limits on dividend payouts by Local Area Banks. The key takeaway is that dividends are now closely tied to prudential strength and asset quality.
