The court held that reassessment notices for A.Y. 2015–16 issued after 1 April 2021 are invalid based on the Revenue’s concession before the Supreme Court. All consequential proceedings were set aside.
The tribunal held that mere suspicion or possibility of fraud without supporting evidence cannot justify action under Section 66 of the IBC. The ruling underscores the need for concrete proof in alleging fraudulent conduct.
The RBI clarifies which entities must file FLA returns and outlines the complete online filing process. The key takeaway is mandatory compliance for entities with foreign assets or liabilities.
The Tribunal held that the final assessment order passed after the prescribed time limit is invalid. It ruled that limitation begins from the date DRP directions are uploaded on the ITBA portal.
The government notified a statutory commission for tax benefits under section 10(46A). The exemption applies from AY 2026-27 subject to continued eligibility conditions.
The issue was whether reassessment under Section 147 is valid after a search. The ITAT held it invalid, ruling that only Section 153A applies post-search, making the reassessment void.
The Tribunal held that delay in filing Form 10AB cannot alone justify rejection of 80G approval. It directed reconsideration on merits, emphasizing genuine charitable activity over procedural lapses.
The ROC held that no penalty is leviable as the company filed its annual return within 30 days of the notice. The ruling highlights that timely compliance can nullify penal consequences under the Companies Act.
The ROC imposed penalties for failure to follow mandatory secretarial standards in company meetings. The ruling highlights strict enforcement of compliance obligations under the Companies Act.
The ROC penalized directors for not holding mandatory Board Meetings. The ruling emphasizes strict compliance with governance requirements under the Companies Act.
