ICAI has launched special preparatory sessions for CA Foundation May 2026 aspirants. The initiative offers structured, paper-wise academic support to improve exam readiness.
ICAI will conduct two rounds of mock tests in April 2026 for CA Foundation students, helping aspirants practice all papers under exam-like conditions.
It was ruled that money received from a parent through banking channels constitutes an explained source. The addition under Section 69A was deleted as the transaction was fully traceable.
ICAI has launched free live virtual classes for CA Foundation students appearing in May 2026, offering structured, exam-focused preparation with interactive sessions and recorded access.
The Court examined whether an owner could be blamed when a stolen vehicle was misused for illegal liquor transport. It ruled that provisional release was justified after ownership verification and furnishing of sureties, despite confiscation liability.
Income Tax Department was directed to encash the Demand Draft, confirm the sale, and issue the Sale Certificate in favour of the highest bidder, without prejudice to the Petitioner’s rights.
The issue was whether a trader declaring income under Section 44AD could face additions for unexplained cash deposits. The Tribunal ruled in favour of the assessee, holding such additions contrary to law.
The Tribunal held that NFAC had no authority to pass reassessment orders before the faceless reassessment notification became operative. As a result, the entire assessment was quashed. The ruling highlights that participation by the assessee cannot cure jurisdictional defects.
Contempt Petition was not maintainable, as the NCLT had independent and effective jurisdiction under Section 425 of the Companies Act, 2013 to punish for contempt of its own orders, including those passed under the IBC.
It was ruled that interest for late filing of the original return can be computed based on tax determined in search-related assessment. Timely filing after notice does not negate earlier delay.
