IFSCA approved the first foreign family office fund under its 2025 regulations. The move strengthens GIFT IFSC’s position as a global destination for private wealth management.
The issue involved allegations of assisting in bogus accounting entries. The ruling held that without certification or statutory role, the CA cannot be held liable for misconduct.
The case examined whether purchases can be disallowed when supported by documents and sales are accepted. ITAT held that estimation without rejecting books or independent evidence is unsustainable.
The new law reorganizes TDS provisions into simplified sections and forms. The key takeaway is that rates remain unchanged, but compliance requires system updates.
Courts held that bona fide buyers cannot lose ITC due to supplier non-payment. The key takeaway is that liability cannot shift to the recipient without fraud.
Authorities are targeting buyers based on supplier defaults without proper verification. Courts emphasize that bona fide taxpayers should not be punished without proof of wrongdoing.
GST Registration Cancellation Set Aside for Lack of Proper Reasons, Bank Account Attachment Lapses Automatically Under GST Law after one year: Bombay HC
Statements recorded under Section 161 Cr.P.C. were held insufficient without corroborative evidence. The Board stressed admissibility and evidentiary standards. The ruling protects professionals from weak evidentiary claims.
The case involved alleged facilitation of tax evasion through fake political donations. The Board held that failure to timely retract an incriminating statement and lack of evidence led to a finding of misconduct.
The Court noted that the temple was built and used by local residents for decades. It held that such collective acceptance negates encroachment claims.
