The Karnataka High Court accepted a mediation settlement in a prolonged land acquisition dispute after parties agreed on compensation, interest, and payment timelines. The Court held that the settlement would replace earlier awards and decrees under Section 89 CPC.
Tribunal held that deduction for bad debts is allowable in the year in which the debts are actually written off in the books of account. It rejected the Revenue’s view that NPAs classified earlier must necessarily be written off in those earlier years.
ITAT Ahmedabad held that delivery-based share transactions shown as investments in books could not be treated as business income without supporting evidence. The Tribunal upheld capital gains treatment for both STCG and LTCG.
The article clarifies that ASISSE notices are issued by NSO under MoSPI only for statistical data collection and have no connection with tax scrutiny or GST investigations.
The Competition Commission of India held that allegations of excessive pricing for medicines, tests, and consumables were not conclusively established. The case was closed after the Commission found insufficient evidence of abuse of dominant position.
The article explains how travel gaps in insurance coverage can expose travellers to financial risks during medical emergencies, delays, or baggage loss. It highlights the importance of continuous travel insurance coverage throughout international trips.
The Madras High Court held that reassessment proceedings must be conducted only under the Faceless Assessment Scheme. The reassessment notice was quashed after the Court relied on an earlier Division Bench ruling.
The Ministry of Corporate Affairs has notified the commencement of major provisions of the Insolvency and Bankruptcy Code (Amendment) Act, 2026. The notification operationalises multiple procedural and substantive insolvency reforms with effect from 26 May 2026.
The certificate clarifies that dealing and investment in securities are outside the scope of GST. Companies engaged solely in securities transactions are generally not liable for GST registration.
Learn how banks use stock and receivables audits to independently verify inventory and debtors before allowing working capital withdrawals. The article explains drawing power, audit procedures, and why accurate stock verification is critical for lenders.
