The Court held that two assessment orders for the same discrepancies and tax period cannot coexist. It quashed one order and allowed proceedings under the other to continue.
The court held that tax liability was fixed at the time of auction completion, prior to GST implementation. Delayed payment could not shift the applicable tax regime.
The update discusses GST rulings on ITC and refunds, income tax relief interpretations, and insolvency reforms. It also covers discussion papers proposing major structural changes. The takeaway is that judicial clarity and regulatory reforms are strengthening governance.
The court held that expenditure on replacement of independent machinery cannot be treated as revenue when it results in a new asset or advantage. It set aside the Tribunal’s order for relying on a precedent later overturned by the Supreme Court and remanded the case for fresh adjudication.
The court held that recovery cannot proceed against a legal heir without determining liability under Section 93, reinforcing due process requirements.
The comparison shows how large-scale frauds go undetected for years while professionals face immediate coercive action. Courts have clarified that arrest requires clear evidence of control and benefit, not mere association with compliance work.
The Institute has proposed syllabus changes to align with modern industry, regulatory, and technological needs. Stakeholders are invited to share inputs to shape a more practical and skill-based curriculum.
The law prohibits all real-money online games regardless of skill, marking a major shift from earlier legal precedents and reshaping the gaming industry landscape.
This explains why operating a payment system without RBI approval is prohibited under law. The framework ensures only compliant and vetted entities can handle financial transactions, safeguarding systemic integrity.
The constitutional validity of Section 232B and the proviso to Section 180(2) of the Kolkata Municipal Corporation Act, 1980 was upheld while setting aside specific retrospective tax notices issued by the Kolkata Municipal Corporation(KMC) to a property owner as they neither suffer from manifest arbitrariness nor violate Articles 14, 19 or 300A.
