ITAT Delhi deleted the addition made on cash deposits during demonetisation, holding that rejection of books under Section 145(3) was unsupported by any specific defects or inaccuracies in the audited records.
ITAT Mumbai held a redeveloped flat was a continuation of the original asset, allowing LTCG treatment, indexation and Section 54/54F relief.
NCLAT restored CIRP after setting aside NCLT’s recall rejection, holding the withdrawal order was vitiated by fraud and suppression regarding CoC constitution.
Delhi ITAT held that interest under Section 28 of the Land Acquisition Act forms part of enhanced compensation and is not taxable as income from other sources.
RBI consolidates SRVA instructions, supersedes earlier circulars, permits FEMA transactions through SRVAs, and updates reporting with immediate effect.
SEBI allows SWP/STP standing instructions for demat mutual fund units, with phased implementation beginning by January 31, 2027.
SEBI cautions regulated entities and listed companies about CEO/MD impersonation scams and advises verification of fund transfer requests and cyber safety measures.
IFSCA advises regulated entities to consider FATF’s updated high-risk and increased monitoring lists in their AML/CFT/CPF risk-based framework.
IFSCA seeks comments on expanding permitted jurisdictions for IFSC distributors by proposing UAE, Singapore, Australia and the EU excluding Croatia.
ITAT Delhi upheld deletion of Section 56(2)(viib) addition, holding the provision applied on share allotment and the assessee could choose the Rule 11UA valuation method.
