Understand CBDT’s Notification 38/2025 on non-deductible settlement expenses under Income-tax Act for SEBI, Competition Act violations. Effective AY 2025-26.
SC sets framework distinguishing copyright from design protection for industrial drawings, impacting IP law. Clarifies Section 15(2) application.
ITAT Mumbai rules Section 56(2)(viia) does not apply to shares held as stock-in-trade, aligning with legislative intent for anti-abuse measures.
SC mandates reporting of cash transactions over ₹2L under Section 269ST, directing courts, IT authorities, and registrars to ensure compliance and curb violations.
Supreme Court rules overruling judgments under NDPS Act are retrospective. Clarifies scope of Section 8, Schedule I & impact on past cases.
Supreme Court judgment: Income Tax Commissioners cannot routinely remand cases if Assessing Officer finds no additions after inquiry. Section 263 explained.
CCI investigates Google’s alleged anti-competitive agreements (TADA, ACC) with smart TV OEMs in India. Settlement reached, but concerns remain.
Madras High Court rules uploading GST notices to the common portal is sufficient but often ineffective service. Court urges tax officers to use alternate methods.
Representation highlights long delays at NFAC affecting over 5 lakh appeals, urging CBDT to expedite resolutions and restore taxpayer confidence.
Learn about India’s TCS on luxury goods. Effective April 2025, 1% TCS applies to sales over ₹10 lakh for watches, art, yachts, and more. Get details on rules and compliance.
