TAT Mumbai held that additions under Sections 68 and 69C could not be sustained where the Revenue failed to establish any connection between the assessee and alleged price-rigging operators. The Tribunal found that the transactions were supported by demat records, banking documents, and stock exchange evidence. The LTCG exemption under Section 10(38) was restored.
RBI has reiterated that old series banknotes issued before 2005 remain legal tender but should not be re-issued by banks. The circular consolidates earlier instructions aimed at introducing notes with enhanced security features.
The RBI has consolidated all directions relating to the withdrawal of ₹2000 banknotes from circulation. The circular reiterates that these notes remain legal tender and can be exchanged or deposited at designated RBI offices.
This article examines how natural justice focuses on the fairness of decision-making processes rather than the correctness of outcomes. It highlights the legal safeguards that protect individuals against arbitrary exercise of power.
The guide explains that GST registration certificates are available only through the GST Portal and must be downloaded manually. It outlines the complete process and why businesses should keep the certificate readily accessible.
Standard pack sizes have been recommended for commonly used edible oils to reduce market inconsistencies and assist consumers in comparing prices effectively. Minor edible oils remain exempt from this requirement.
The government has exempted smaller edible oil packs and minor edible oils from standardisation requirements. The exemption is aimed at preserving affordable purchasing options for consumers.
ITAT Mumbai upheld the order deleting the addition made on account of alleged unexplained cash credits arising from share sale proceeds. The Revenues challenge against the relief granted to the assessee was rejected.
CDSCO registration is required for importing, manufacturing, or marketing regulated healthcare products in India. The approval ensures compliance with safety, quality, and regulatory standards.
The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and technical glitches. The key takeaway is that systemic reforms, not last-minute extensions, are needed to improve tax compliance.
