Latest Articles
Unaccounted cash receipt Addition Invalid Due to Denial of Cross-Examination in Third-Party Document Case
Income Tax : The ruling clarifies that unverified excel sheets seized from third parties cannot justify additions without corroborative evidenc...
Professionals Not Liable for GST Fraud Without Active Role Gujarat HC
Goods and Services Tax : The Court held that arrest under GST requires clear evidence of fraudulent intent and active involvement. Mere association with di...
Procedure for Issue of Share Certificates After Incorporation Under Companies Act, 2013
Company Law : This guide explains the legal steps for issuing share certificates after incorporation. It highlights timelines, board approvals, ...
GST on Restaurants, Lodges, Marriage Halls and Pilgrim Rooms
Goods and Services Tax : This guide explains GST rates, composition scheme eligibility, and new hotel tariff slabs. It highlights how ITC restrictions and ...
Bona Fide GST Return Corrections Cannot Be Denied: Karnataka HC Landmark Ruling
Goods and Services Tax : The Court held that genuine errors in returns can be corrected despite statutory deadlines. Technical timelines cannot override ac...
Latest News
Representation on Cancellation of GST Registration & Refund Processing
Goods and Services Tax : The representation highlights ambiguity in whether the ₹2.5 crore ITC threshold should be annual or cumulative. It emphasizes th...
CBDT Refutes Allegations of Tax Raid, Terms Claims Baseless; Complaint Filed with Election Commission & Police
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Mastermind Arrested for ₹1,825 Crore GST Refund Fraud via Fake ITC & Bogus Exports
Goods and Services Tax : Authorities arrested the key accused for orchestrating fake ITC claims and fictitious export transactions. The case highlights str...
India–Korea MoU Signed to Boost Financial Regulatory Cooperation
Finance : The issue highlights a new agreement between financial regulators of both countries. The key takeaway is that the MoU promotes col...
IFSCA Registers First Foreign Family Investment Fund
Finance : IFSCA approved the first foreign family office fund under its 2025 regulations. The move strengthens GIFT IFSC’s position as a g...
Latest Judiciary
SC Set Aside Review Order Due to Improper Reappreciation of Evidence by HC
Corporate Law : The Court examined whether review jurisdiction permits re-evaluation of evidence. It held that such reappreciation is impermissibl...
SC Quahed Review order passed by HC Due to Misuse of Review Jurisdiction
Corporate Law : The Court examined whether review powers were properly exercised. It held that the High Court exceeded its jurisdiction by re-eval...
Composite GST Orders Invalid Due to Legal Requirement for Year-Wise Adjudication: Kerala HC
Goods and Services Tax : The Court examined whether tax authorities can issue a single order for multiple years. It held that composite orders are invalid ...
GST Proceedings Allowed to Continue Due to Lack of Evidence of Natural Justice Violation
Goods and Services Tax : The petitioner alleged denial of hearing and cross-examination. The Court ruled that no such violation was established at this sta...
Telangana HC Quashed Reassessment Due to Invalid Section 151 Approval
Income Tax : The case examined whether reassessment proceedings were valid when approval was obtained from an incorrect authority. The Court he...
Latest Notifications
DIR-3 KYC Delay Now Costs ₹5,000 and amendement costs ₹500
Company Law : The issue concerns compliance delays in director KYC filings. The amendment imposes a ₹5,000 penalty for late submission, reinfo...
Failure to Verify Wilful Defaulter Status Leads to 2-Year Suspension of IP
Corporate Law : The issue was whether an insolvency professional fulfilled due diligence obligations under Section 29A. The Committee held that fa...
Ship Leasing Rules Amended Due to Ban on Asset Management Services in IFSCs
Finance : The issue was regulatory overlap after asset management services were restricted. The Authority removed a conflicting provision, e...
Framework for rights issue under IFSCA (Listing) Regulations, 2024
Finance : The issue was the lack of a unified process for rights issues in IFSCs. The Authority introduced a detailed framework mandating di...
IFSC Circular Mandates Disclosure and Approval Norms for Preferential Allotments
Finance : The circular addresses how listed entities can raise capital through preferential issues and QIPs. It establishes eligibility cond...
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FAQs
Overview of the Constitution (106th Amendment) Act, 2023 covering women’s reservation in Parliament and Assemblies, its scope, timeline, and conditions.
The issue concerns alternative settlement mechanisms for international trade. The framework allows INR-based transactions with flexible usage and repatriation of funds.
The scheme allows companies to clear pending filings at reduced cost. It provides a major compliance relief with only 10% additional fees payable.
IGST refunds are not available when exports are made under LUT/Bond without tax payment. The clarification highlights eligibility conditions and prevents incorrect refund claims.
The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value, deductions, and exemptions.
