CESTAT held Sections 11B and 11BB inapplicable as the refunded amount was not Service Tax, directing payment of 12% interest on delayed refunds.
IRDAI has extended transitional arrangements for annual fee payment and registration certificates until 31 August 2026 or notification of amended regulations, whichever is earlier.
Sections 356-374 restructure appellate provisions with clearer drafting while retaining the existing appeal hierarchy and taxpayer remedies.
Section 270 of the Income-tax Act, 2025 consolidates return processing and scrutiny assessment into one framework while introducing mandatory pre-adjustment communication and clearer procedural safeguards for taxpayers.
The law permits reassessment only where the Assessing Officer has information indicating escaped income and follows the prescribed statutory procedure, approvals, and time limits.
Section 268 of the Income-tax Act, 2025 brings inquiry, information gathering and special audit provisions into one structured framework with safeguards.
Gujarat High Court upheld deletion of the Section 271D penalty, holding that absence of recorded satisfaction in the assessment order made the penalty unsustainable.
ITAT Surat held that absence of satisfaction in the assessment order invalidated the Section 271D penalty, following the Supreme Court’s ruling.
ITAT Kolkata held that employees should not bear tax liability again where TDS was deducted but not deposited by the employer.
Bombay High Court held Section 153C notices invalid as the satisfaction note was not recorded immediately after the searched person’s assessment.
