Hyderabad ITAT held that a notice issued under Section 148 after six years from the end of AY 2015-16 was invalid. The Tribunal ruled that the amended 10-year reopening provision cannot revive already time-barred cases.
The Tribunal ruled that an assessment order issued against a deceased taxpayer is invalid even if legal heirs participated in proceedings. Once informed of the death, the department must proceed only against the legal representative.
The Tribunal ruled that delayed filing or incorrect disclosure in Form 67 does not automatically disentitle an assessee from claiming Foreign Tax Credit. Substantial justice must prevail over technical procedural defects.
SEBI clarified that clients under Non-Discretionary PMS can pledge securities held in their demat accounts for personal borrowing. The regulator held that such pledging does not amount to borrowing by the portfolio manager as long as the decision is entirely client-driven.
GSTN has launched a standardized Annexure-B Offline Utility for refund applications involving accumulated ITC to enable automated invoice verification. Taxpayers must now upload invoice-wise HSN/SAC details through the prescribed utility.
Chennai ITAT held that reassessment notices issued after three years must comply strictly with Section 151(ii) approval requirements. Failure to obtain sanction from the proper authority vitiated the entire reassessment proceedings.
The Tribunal ruled that participation by a legal heir does not validate notices and assessment orders issued in the name of a deceased assessee. Proceedings must be initiated strictly under Section 159 against legal representatives.
The Department of Consumer Affairs has clarified that customary units like inches, feet, and dozen may be used as supplementary declarations alongside SI metric units. However, SI units will continue to remain the legally recognized standard under the Legal Metrology Act.
The Madhya Pradesh High Court ruled that the Bhojshala-Kamal Maula complex is a protected Hindu temple dedicated to Goddess Vagdevi after relying on ASI survey findings and historical evidence. The Court quashed the 2003 ASI arrangement permitting namaz and restricted worship rights exclusively in favour of Hindus.
The revised MSME classification limits under Union Budget 2025-26 significantly widen access to government subsidy, guarantee, and credit support schemes. More enterprises can now qualify for MSME benefits.
