The case clarifies that MSME-1 filing is triggered when payments to MSME suppliers exceed the 45-day limit. It emphasizes that even a single delay requires disclosure of outstanding dues and reasons.
The advisory clarifies that Section 8 companies are prohibited from direct strike-off using Form STK-2. It highlights that closure must follow prescribed legal routes to safeguard charitable assets and public interest.
The court held that dependency under motor accident law is not confined to family members. Religious institutions relying on the deceased can claim compensation for institutional loss.
The circular addresses mandatory certification requirements for Social Impact Assessors under ICDR Regulations. SEBI requires NISM Series XXIII certification, reinforcing regulatory compliance and investor protection.
The notification restricts import of Glufosinate where the combined CIF value and duty fall below the threshold. It introduces a uniform valuation-based control for six months.
The Tribunal held that additions based solely on third-party statements and Excel sheets are unsustainable without independent evidence. It emphasized that denial of cross-examination violates natural justice and invalidates the addition.
ITAT Mumbai deletes Section 69 additions holding that third-party excel sheets and statements without corroborative evidence lack evidentiary value. Reopening based on unverified data and denial of cross-examination violates natural justice; entire additions quashed.
The Court held that once a revised return is filed, the original return stands obliterated. Ignoring the revised return was treated as a legal error, leading to remand for fresh assessment.
CBDT corrected multiple ITR forms to fix structural and computational errors. The update ensures accurate tax reporting and reduces filing inconsistencies.
The provision safeguards refunds, losses, credits, and pending proceedings under the old law. It prevents disruption caused by repeal of the 1961 Act. The key takeaway is that existing rights and liabilities remain fully intact.
