The new law restructures TDS provisions with new section numbers and codes. Businesses must update systems despite no change in rates or thresholds.
The case examined whether the accused could disprove liability under Section 138. The court upheld conviction as the presumption remained unrebutted and evidence supported the complainant’s claim.
The government replaced the six-decade-old law with the Income-tax Act, 2025. The reform aims to simplify compliance through clearer language and structure.
The RBI updated operational rules for Floating Rate Savings Bonds under statutory powers. The revised framework governs issuance, servicing, and investor-related processes.
The Court examined whether termination of Assistant Advocates was carried out lawfully. It held that disengagement without following proper procedure and terms is arbitrary. The ruling reinstated the advocates and mandated fair guidelines.
Many IPO delays arise from governance gaps rather than financial weakness. The key takeaway is that early restructuring of shareholding, board, and compliance is essential for smooth approval.
The authority analysed whether an industrial plant is movable or immovable. It held that the plant, installed for long-term use and not marketable as a whole, is immovable property. Consequently, ITC on related inputs was denied.
The ruling holds that deposits made from surplus business funds are part of operational activity. Interest earned on such deposits is business income and not income from other sources. Therefore, Section 80P benefit was granted.
The issue was whether a succession certificate granted without impleading a minor heir was valid. The Supreme Court set aside the ex parte order, holding denial of hearing to a minor vitiates proceedings.
The case examines whether penalty can be levied when the quantum issue is admitted by the High Court. The Tribunal held that admission of substantial questions of law makes the issue debatable. As a result, penalty under Section 271(1)(c) was rightly deleted.
