The Supreme Court held that compensatory allowances form part of “ordinary wages” for overtime calculation. Executive circulars cannot override the clear mandate of Section 59(2).
The Tribunal held that estimating commission income without corroborative evidence is unsustainable. Audited accounts and consistent interest income showed genuine business activity, leading to deletion of the addition.
The ROC held that filing an AOC-4 form with an incorrect AGM date amounts to a completed contravention. Subsequent correction requests do not erase penalty liability under the Companies Act.
The court upheld higher VAT by classifying woollen felt components as machinery parts, holding that their exclusive industrial use outweighed textile-based definitions.
ICAI has announced two mock test paper series for CA Intermediate May 2026 candidates. The tests will be held in March and April, helping students assess readiness before exams.
ICAI has announced BoS Series I and II to support CA Intermediate students ahead of the May 2026 exams. The virtual sessions focus on exam-oriented revision and last-minute preparation.
The ROC held that selecting incorrect options in statutory filings amounts to a completed contravention. Later requests to mark the form defective do not remove penalty liability.
The ROC held that inability to produce statutory minutes amounts to a clear violation of Section 118. Historical loss of records due to flood does not absolve ongoing compliance obligations.
The Tribunal held that income tax appeals cannot continue during CIRP, as the IBC moratorium bars parallel proceedings. Claims not forming part of an approved resolution plan cannot be pursued.
The High Court flagged an unexplained delay of more than ten years in finalising customs assessments after provisional release. Authorities were directed to complete assessments within six weeks.
