DCIT Vs Revanth Challagalla (ITAT Hyderabad) Section 54F Allowed Even When Property Purchased in Sister’s Name – Subsequent Gift Validates Claim In this case, the ITAT Hyderabad upheld the allowance of deduction under Section 54F despite the property being initially registered in the name of the assessee’s sister. The assessee, an NRI, had sold villas […]
CBIC introduced a payment aggregator to streamline customs duty payments. The circular allows multiple digital payment options and faster processing through the ECL system.
The Bill decriminalises minor compliance failures while strengthening governance norms and fraud enforcement. The key takeaway is a shift toward business-friendly regulation with stricter accountability for serious violations.
The tribunal held that systematic sports training and self-defence instruction to students constitute education under Section 2(15). As activities were charitable and genuine, denial of registration under Sections 12AB and 80G was set aside.
The case involved exemption claim on maturity of an assigned Keyman Insurance Policy. The Tribunal held that Explanation 1 to Section 10(10D) includes assigned policies and applies retrospectively. It ruled that such receipts remain taxable despite assignment.
The amendment permits payment aggregators as a new mode of deposit in the electronic cash ledger. This expands digital payment options and improves ease of compliance.
SEBI has proposed allowing Gift PPIs for mutual fund subscriptions to attract new investors. The framework includes strict safeguards on funding, ownership, and usage limits.
The DGFT extended TRQ authorisations for gold imports under India-UAE CEPA citing geopolitical disruptions. The ruling ensures automatic extension without procedural requirements.
The issue was whether procedural delays and challan errors could deny SVLDR benefits. The Court held that substantive compliance prevails and relief cannot be denied for technical defects.
The case involved non-passing of ITC benefits after GST implementation. The Tribunal held that full ITC gains must be passed on and ordered refund with interest.
