ROC imposed penalty due to non-conduct of mandatory board meetings during FY 2019–20. The ruling confirms strict compliance requirements under Section 173 of the Companies Act.
The Tribunal held that exemption cannot be denied merely because the purchase agreement was unregistered. Substantial payment and possession were considered sufficient for claiming relief.
Courts held that exemption cannot be denied merely due to lack of registration if possession and substantial payment are proven. The ruling emphasizes substance over procedural formalities.
The Tribunal held that where registration is delayed, the stamp duty value on the agreement date must be considered. The ruling applies the beneficial proviso to Section 50C retrospectively.
The Tribunal held that different floors of the same building constitute one residential house. Deduction under Section 54 cannot be denied on the ground of structural division.
This piece explains how speculative and unaccounted money overtakes genuine economic value, creating artificial growth. It highlights how such imbalance leads to financial bubbles and eventual economic collapse.
The new rules replace legacy forms with a structured, renumbered system. They simplify compliance while expanding reporting requirements across tax domains.
The tribunal held that proportionate reversal of credit for trading is sufficient compliance. It ruled that full reversal under Rule 6(3A) is not mandatory.
The law replaces Form 26QE with Form 141 for VDA transactions from April 2026. Taxpayers must follow the new challan-cum-statement system for TDS compliance.
The court set aside denial of ITC refund based on intermediary classification without proper examination. It remanded the matter for fresh adjudication considering agreements and legal precedents.
