The IBBI flagged improper admission of a joint developer as a financial creditor without adequate verification. The ruling highlights the need to correctly classify claims under insolvency law.
If a Scheduled caste person converted to any other religion other than Hinduism, Sikhism or Buddhism, he immediately loses the membership of the Scheduled Caste status. In this, the Court also explained that if such a person re-converted to Hinduism, Sikhism or Buddhism, then he had to establish conclusive proof of the following, to re-claim SC status.
The issue concerns mandatory filing of FLA returns by entities with foreign investments. The RBI clarified that all such entities must file annually by July 15, even using provisional data if needed. The key takeaway is that non-compliance attracts penalties under FEMA, making timely filing essential.
In the absence of proper compliance with Section 65B and failure to establish a clear chain of custody, the digital evidence relied upon by the Revenue lacked legal admissibility and evidentiary value.
The government has kept small savings interest rates unchanged for April–June 2026, ensuring continued stable returns for investors.
Excise exemption notifications based on use or intended use should be interpreted liberally in favour of the assessee as once the goods were used for the intended purposethe fact that a portion was incidentally used for other activities did not disentitle assessee from claiming the exemption.
The issue arose from taxing buybacks as dividends, causing higher tax burden and unusable capital losses. The reform restores capital gains taxation, easing compliance and aligning with asset transfer principles.
The case addressed misuse of a public figure’s identity through AI-generated content and merchandise. The Court granted an injunction, holding such exploitation violates personality rights and causes reputational harm.
Explains Section 44AD applicability for non-specified professions, eligibility, limits, and tax audit rules under Sections 44AB and 44AA.
Section 63 of Income Tax Act 2025 sets audit limits, forms, due dates, and penalties for non-compliance in business and profession cases.
