The Tribunal ruled that dismissing appeals in limine without examining reasons for delay was improper. It restored the matters for fresh consideration, stressing that procedural lapses should not defeat substantive justice.
While foreign investors appear to be net sellers in Indian markets, the data shows a clear shift toward banking stocks. The key takeaway is strategic sectoral rotation, not an exit from India.
The Tribunal held that post–Finance Act, 2024, an 80G application can be filed any time after commencement of activities. Rejection solely for delay was set aside and the application was restored for fresh consideration.
The ruling found that the authorities failed to examine party-wise payment limits before disallowing expenses for alleged TDS default. Key takeaway: threshold verification is essential before invoking section 40(a)(ia).
Total income includes capital gains for the ₹5 lakh limit, but the rebate cannot reduce tax on special-rate income. The key takeaway is that eligibility and adjustment operate differently.
The regulator held that partial disclosure in balance sheet notes is insufficient under section 134. Listed companies must make clear and complete related party disclosures.
The CGST Act clearly covers territorial waters but is silent on EEZ. This raises a serious question on whether mapping EEZ to coastal States is legally sustainable.
The regulator held that Annual Reports are official publications mandatorily requiring CIN disclosure. Repeated non-compliance led to the maximum penalty on both the company and its officers.
The Companies Act, 2013 limits immunity for non-executive directors by linking liability to knowledge and diligence. Courts now require active oversight rather than passive board membership.
This piece explains how automated GST and income tax reforms are reshaping taxpayer compliance. The key takeaway is that technology now closely monitors filings, making accuracy essential.
