ROC Ahmedabad levied penalties on a company and its Managing Director for delayed compliance with Section 149(4) and Section 172. The ruling emphasizes timely appointment of independent directors.
The IBBI appellate authority ruled that DHFL insolvency compliance reports are confidential commercial information. Disclosure was limited, as records were not maintained in a segregated format.
The government notified a historic temple as eligible under Section 80G due to its cultural significance. Deductions apply only for renovation donations capped at ₹50 crore, valid until collection or March 2030.
The Delhi government allows registered taxpayers to rectify GST orders where previously denied ITC is now eligible under section 16(5) or 16(6). The process ensures claims are submitted electronically with proper verification.
Gross GST collections grew 0.7% in November 2025, driven mainly by a 10.2% rise in import IGST, even as domestic revenues dipped. The report highlights uneven state-wise trends and moderate overall tax buoyancy.
The Telangana High Court upheld cancellation of a GST registration after authorities found the declared business premises non-existent and submitted rental agreements fraudulent.
High Court found that the Tribunal’s order involved only factual analysis from earlier years, leaving no question of law. Takeaway: Factual remands do not qualify for High Court intervention.
The bank invites CA firms for conducting a concurrent audit of its Mumbai treasury operations, ensuring compliance with RBI guidelines and strengthening internal controls and risk management.
MCA introduces a detailed point system for empanelment of CA firms/LLPs, assessing partners, employees, experience, qualifications, and professional track record to ensure competent auditors for companies and statutory bodies.Selection of Auditors Tied to Firm Capacity and Experience
The Court ruled that reassessment could not be initiated based on audit objections containing factual errors and overlooking prior accepted depreciation. The decision underscores that reopening must be based on proper evaluation of facts, not mere audit remarks.
