he analysis clarifies that accumulated losses do not prevent a company from issuing bonus shares from its Securities Premium Account. Eligibility depends on compliance with Section 63 conditions and absence of financial or statutory defaults.
GSTAT has extended relaxed scrutiny guidelines for portal-based appeals until 31 December 2026. The key takeaway is that this relief addresses procedural defects only and does not extend the statutory appeal filing deadline.
The Madras High Court held that a taxpayer assessed under Section 62 for non-filing of GST returns can still obtain reassessment by subsequently filing the pending returns. The key takeaway is that GST law provides a statutory opportunity to regularize compliance even after a best judgment assessment.
The new Income-tax Act, 2025 replaces the old survey framework with a streamlined regime under Section 253. It expands digital record access while introducing approval requirements, retention limits, and taxpayer safeguards.
NCLAT held that dismissal for want of prosecution was unjustified where multiple adjournments were caused by the Tribunal due to paucity of time and technical issues. The ruling emphasizes that litigants should not be penalized when delays are not entirely attributable to them.
The Delhi High Court held that exoneration under Section 73 does not automatically bar proceedings under Section 74 because both provisions operate in distinct legal spheres. Taxpayers must challenge factual findings through statutory appeals rather than writ petitions.
The Supreme Court stayed a judgment that held mere uploading of notices and orders on the GST portal does not amount to valid communication for appeal purposes. The final legal position on whether portal-based service alone starts limitation under Section 107 remains undecided.
This update highlights crucial compliance deadlines across GST, Income Tax, FEMA, and SEBI laws. It underscores that timely filings are essential to avoid penalties, ensuring businesses remain legally compliant and operationally secure.
The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a duplicate PAN card. The case underscores strict action against corruption in public offices.
The article analyzes how controversial judicial remarks, despite later clarification, triggered a massive online movement reflecting youth frustration over unemployment, institutional distrust, and lack of opportunities.
