Courts held that audits exceeding prescribed timelines under GST law can invalidate subsequent proceedings. The ruling emphasizes strict adherence to statutory deadlines for audit completion.
The amended guidelines mandate minimum CPE hours for all practicing members. Non-compliance will lead to discontinuation of the Certificate of Practice. The ruling emphasizes strict enforcement and continuous professional learning.
Bombay High Court held that writ petition cannot be entertained in the face of availability of alternative remedy of approaching the NCLAT since claim of violation of principles of natural justice not established. Accordingly, writ petition dismissed.
The law removes criminal penalties for minor compliance breaches and replaces them with monetary fines. It holds that reducing criminalization will ease regulatory burden while ensuring accountability through civil penalties.
The government extended the RoSCTL scheme without changes to maintain stability for exporters. The decision ensures continued tax rebates and supports global competitiveness. It reinforces long-term policy certainty for the textile sector.
The DGFT launched a focused campaign to expedite EODC issuance and clear pending export obligations. The initiative resulted in a sharp increase in approvals and faster processing rates. It highlights improved efficiency and reduced compliance burden for exporters.
Pension funds must provide detailed disclosures, reports, and grievance redressal systems. Subscribers gain access to transparent information and accountability. The ruling prioritizes investor rights and awareness.
The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verification and compliance mechanisms to prevent revenue loss.
Calcutta High Court held that reasonable belief of smuggling based on clandestine conduct and scientific purity of metal is justifiable. Accordingly, absolute confiscation of gold upheld as reasonable belief for seizure u/s. 123 duly established.
The case highlights how expanded benami provisions expose informal family arrangements to confiscation and penalties. Courts stress strict compliance and genuine ownership proof to avoid adverse action.
