The Delhi High Court held that reassessment proceedings cannot be sustained on changing allegations introduced after issuance of notice under Section 148A(b). The Court ruled that reopening must rest only on the original reasons disclosed to the assessee.
Investors with diversified portfolios are always looking for a new asset class or type to increase their profitability, and cryptocurrency is often discussed as an option. But how viable is cryptocurrency as an investment for investors in India, after the realities of Indian taxes are factored into the equation? For investors in India, building a […]
SEBI has proposed major reforms to the Pre-open Call Auction mechanism after concerns over artificially suppressed prices in IPO and re-listed stocks. The proposal includes revised base price rules, automatic price band flexing, and stricter price discovery conditions.
PFRDA has proposed major reductions in grievance resolution timelines under the NPS framework. The draft aims to improve accountability, transparency, and faster disposal of subscriber complaints.
The International Financial Services Centres Authority clarified that existing ASPs and TechFin entities continuing operations under transitional provisions must comply with the fee structure prescribed under the TAS Regulations framework. A one-time extension for fee remittance until May 31, 2026, was also provided.
Along with releasing the E-Admit Cards, ICSI advised students to thoroughly review examination instructions and verify all personal and examination-related details before the scheduled exams in June 2026.
Allahabad High Court ruled that while authorities could verify documents during transit, absence of an e-Tax Invoice did not confer jurisdiction to impose penalties in a pure transit State. The Court directed release of goods and vehicles.
The Court directed the appellate authority to accept manual filing of Form GST APL-01 after the taxpayer could not upload the appeal electronically due to a technical glitch. Delay in filing was also condoned under the CGST Act.
The Supreme Court held that interest paid on borrowed funds was deductible under Section 36(1)(iii) because the loan was used for business purposes. The Court ruled that commercial expediency and composite business operations justified the deduction claim.
The Tribunal held that the reassessment notice issued on 26.07.2022 was beyond the permissible timeline under the surviving limitation principle and therefore lacked legal validity.
