The ITAT held that reassessment is invalid where no addition is made on the sole ground for reopening, leading to the proceedings being quashed.
Calcutta High Court held that in a proceeding under Section 263 of the Income Tax Act of 1961, the PCIT is empowered to make such inquiry as he deems necessary and inspection of seized assets may very well form part of such inquiry. Accordingly, notice of inspection is duly sustainable and hence writ petition stands dismissed.
The Tribunal held that reassessment for AY 2015–16 was barred by limitation as the Section 148 notice was issued beyond the permissible period. It ruled that TOLA did not extend the time limit and the proceedings were void ab initio.
Individual term and health insurance premiums become GST-free from 22 September 2025. Agent commissions and mutual fund distribution taxes remain unchanged, preserving existing compliance rules.
The Government clarified that decade-long data does not show a consistent upward trend in non-compliance. While penalties have increased in recent years, this reflects stronger enforcement rather than growing defaults.
The Government clarified how regulatory powers and red-flag indicators are used to tackle shell and dormant companies misused for capital rotation.
Parliament was informed that no antitrust or merger cases originated from Jammu and Kashmir during the year. The key takeaway is that enforcement activity in the region remained nil in 2025.
GST revenues climbed to over ₹20.5 lakh crore in 2024–25, though growth has moderated. The key takeaway is sustained expansion alongside a shift toward simpler rate structures.
The Government stated that representations on own merit promotions are examined regularly as per existing rules, with no separate confirmation of backlog figures.
The Government informed Parliament that GST thresholds remain as revised in 2019. Any further increase depends on a fresh recommendation from the GST Council, which has not been made.
