The Delhi High Court held that the Assessing Officer cannot deny refund interest by attributing delay to the assessee. The decision clarified that only higher authorities specified in Section 244A(2) can determine such delay.
Karnataka High Court held that the Income tax returns, assessment particulars and related financial details do constitute “personal information” within the meaning of Section 8(1)(j) of the Right to Information Act, 2005.
NCLAT Chennai held that direction for issuance of valid share certificate doesn’t fall within the scope of section 59 of the Companies Act. Accordingly, order rejecting application u/s. 59 as not maintainable justified. Thus, company appeal is dismissed.
A strategic partnership between Odisha and Zimbabwe could link Africa’s mineral wealth with Odisha’s industrial infrastructure, strengthening steel, battery materials, and manufacturing sectors.
DGFT granted an automatic extension of the Export Obligation period for Advance and EPCG Authorisations expiring between March and May 2026 due to geopolitical disruptions affecting global trade and logistics.
EPFO streamlined the process for transferring pension contributions and nominee payments. The instructions aim to avoid procedural errors and ensure uniform implementation across field offices.
The taxability of grants under GST depends on whether the funding represents consideration for a supply. If a grant involves contractual deliverables or obligations, it may be treated as taxable consideration.
Section 74A replaces the earlier Sections 73 and 74, creating a unified framework for tax recovery in cases of short payment, erroneous refunds, and wrongful ITC. The provision simplifies GST enforcement with clear timelines, proportionate penalties, and incentives for voluntary compliance.
The Bombay High Court stayed recovery and adjudication in GST cases involving assignment of leasehold rights. The court held that interim protection is justified since the legal issue is currently under consideration by the Supreme Court.
Tax loss harvesting allows investors to sell loss-making shares to offset capital gains and reduce tax liability. This strategy helps optimize taxes while maintaining long-term investment positions.
