SEBI allows NPOs to remain registered on SSE for up to three years without fundraising. The move enhances flexibility and encourages wider participation in social funding platforms.
The issue involved revision of tariff values for key imported goods under customs law. The notification amends valuation tables to reflect updated international prices, ensuring uniform duty calculation and regulatory consistency.
The tribunal examined whether duty drawback should be taxed on accrual or actual receipt. It held that as per law, duty drawback is taxable only in the year of receipt, and additions based on accrual were unsustainable.
The Tribunal held that advances received under an uncompleted sale agreement are not taxable. Income arises only when transfer or forfeiture occurs.
ITAT Bangalore rules skill development qualifies as education, allowing Sec 11 exemption to charitable trust. Rejects commercial activity view, follows Karnataka HC, and grants full tax relief.
Highlights that failure to act on workplace harassment complaints may be treated as abetment, attracting criminal consequences. The key takeaway is that procedural inaction is no longer defensible.
Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeaway is that buybacks are no longer the default option.
Emphasizes that organizations must shift from policy-based compliance to building a culture of safety rooted in accountability and empathy. The key takeaway is that true workplace safety is achieved through proactive governance and leadership commitment.
Clarifies that revision under sections 264 and 378 is a taxpayer-friendly remedy where authorities cannot pass orders prejudicial to the assessee. It ensures a safe correction mechanism for overassessment or missed claims without risk of enhancement.
Clarifies that revision under both old and new tax laws requires proof of error and revenue prejudice. Mere disagreement with the Assessing Officer’s view is insufficient.
