The new DTAA protocol broadens information exchange, introduces criminal tax matters, and strengthens cooperation in tax recovery between the two countries.
The judgment confirms that assets generated from betting supported by forgery, cheating or conspiracy qualify as proceeds of crime under PMLA. It upholds ED’s attachment orders in a major betting and hawala case.
The Court ruled that assessment notices for earlier years were void because the tax authorities did not lodge claims before the resolution plan was approved. Once the plan attained finality, all excluded claims stood extinguished under binding IBC principles. The judgment also holds that the revenue cannot deny carry-forward of losses after failing to participate in the insolvency process.
The Tribunal found that notices lacking classification as limited, complete, or manual scrutiny violated CBDT instructions. As a result, the assessment under section 143(3) was quashed as void ab initio.
Learn the major updates in GSTR-9 and GSTR-9C for FY 2024-25, including new ITC reporting tables, cross-year tracking, and audit-focused compliance.
The CBI arrests ITAT officials and an advocate in Jaipur for bribery, seizing over Rs. 1 crore and exposing an organized network settling appeals for cash.
The Supreme Court quashed criminal proceedings under Sections 406/420 IPC, holding that no prima facie case existed against the accused. The ruling highlights that civil disputes cannot be turned into vindictive criminal cases.
Bombay High Court held that dispute between SEBI and petitioner regarding opening of Demat Account in fictitious and benami name and making of large applications in IPO is settled and the said dispute is predominantly commercial in nature having little criminal overtone. Hence, order quashed and set aside.
Introduction In GST litigation, Section 107 of the CGST Act, 2017 creates an uncommon situation: both the taxpayer and the department can file a first appeal. This is a sharp departure from the Income-tax Act, where only the assessee can initiate a first appeal. The result? An environment where even a favourable order for the […]
MCA’s new Bill introduces fractional shares and Producer LLPs, boosting retail investment access and reducing compliance for farmer groups and agro-entities.
