The Madras High Court held that disputes regarding alleged false or incomplete election affidavit disclosures must be raised through an election petition. The Court ruled that such issues cannot be examined in a writ petition under Article 226.
The Madras High Court held that taxable income was not properly computed where deduction under Section 80IB was reduced before calculating Section 80HHC relief. The matter was remanded for fresh assessment in line with the Supreme Court ruling in Shital Fibers Ltd.
The article explains all ITR forms applicable for AY 2026-27 and highlights key changes in capital gains, buyback taxation, and foreign asset reporting. It emphasizes selecting the correct form to avoid defective return consequences under Section 139(9).
An RTI application sought details regarding enrolment, certificate of practice, and practising status under the Advocates Act, 1961. The applicant also requested records relating to non-practising advocate classification and Bar Council verification procedures.
ROC Kolkata imposed penalty on an auditor after finding that depreciation on building assets was not charged in the financial statements in violation of Accounting Standard-6. The authority held that failure to report the non-compliance affected the true and fair view of accounts.
ROC Kolkata imposed penalty on an auditor after finding that material investment disclosures required under Schedule III of the Companies Act were omitted from financial statements. The authority held that the auditor failed to report the company’s statutory non-compliance under Section 143.
ROC Kolkata penalised a private company and its directors for non-filing of annual returns under Section 92 of the Companies Act, 2013. The adjudicating authority held that continued default in statutory filings attracted monetary penalties under Section 92(5).
ROC Kolkata penalized a company and its directors for delayed transfer of unspent CSR funds to the Swachh Bharat Kosh. The order highlights strict enforcement of Section 135(7) compliance timelines under the Companies Act.
The article explains how rigid GST compliance and fear of penalties are pushing small businesses back into cash transactions. It suggests simplified GST reforms and composition scheme expansion to encourage formalisation.
The new Invoice Management System (IMS) will introduce real-time invoice matching and automated ITC verification under GST. Businesses will need stronger compliance systems and accurate invoice reporting.
