RBI Overhauls Gold Metal Loan (GML) Framework: Dual Categories, Gold Repayment Flexibility for Jewellers & MMTC
The Reserve Bank of India (RBI) has issued a comprehensive set of amendments to modernise the Gold Metal Loan (GML) regime, consolidating prior...
![Claim of ‘Lack of Speedy Remedy’ Not Enough to Invoke Article 226 when Statute Provides Complete Appellate Route: Orissa HC [Read Order]](https://images.taxscan.in/h-upload/2025/12/06/250x150_2110590-complete-appellate-route-taxscan.webp "Claim of ‘Lack of Speedy Remedy’ Not Enough to Invoke Article 226 when Statute Provides Complete Appellate Route: Orissa HC [Read Order]")
![Calcutta HC Orders Advance Ruling Board to Quickly decide on Joint Ventures Taxation as Revised ITR Filing Deadline Approaches [Read Order]](https://images.taxscan.in/h-upload/2025/12/06/250x150_2110474-taxation-revised-itr-filing-deadline-taxscan.webp "Calcutta HC Orders Advance Ruling Board to Quickly decide on Joint Ventures Taxation as Revised ITR Filing Deadline Approaches [Read Order]")
Big Win for Actor Yash: Karnataka HC Confirms ‘Searched Person’ Status, Quashes Order Passed u/s 153C Without Incriminating Material [Read Order]
The Karnataka High Court has granted significant relief to Kannada actor Yash, holding that he was a “searched person” under the Income Tax Act, 1961, and therefore, could not be subjected to...
![Big Win for Actor Yash: Karnataka HC Confirms ‘Searched Person’ Status, Quashes Order Passed u/s 153C Without Incriminating Material [Read Order]](https://images.taxscan.in/h-upload/2025/12/08/500x300_2110854-actor-yash-karnataka-hc-taxscan.jfif "Big Win for Actor Yash: Karnataka HC Confirms ‘Searched Person’ Status, Quashes Order Passed u/s 153C Without Incriminating Material [Read Order]")
Relief for Lalitha Jewellery: Madras HC Quashes ₹51 Crore Unexplained Cash Credits Addition due to Uncorroborated Search Statements [Read Order]
The Madras High Court quashed Rs. 51 crore addition under Section 68 of the IncomeTax Act, 1961, determining that uncorroborated search statements cannot be treated as evidence to brand genuine...
![Relief for Lalitha Jewellery: Madras HC Quashes ₹51 Crore Unexplained Cash Credits Addition due to Uncorroborated Search Statements [Read Order]](https://images.taxscan.in/h-upload/2025/12/06/500x300_2110523-lalitha-jewellery-madras-hc-cash-credits-uncorroborated-search-statement-taxscan.webp "Relief for Lalitha Jewellery: Madras HC Quashes ₹51 Crore Unexplained Cash Credits Addition due to Uncorroborated Search Statements [Read Order]")
AO Must Re-Examine Income After Considering Stock Records: ITAT Remands Addition Based on Survey Statement [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) remanded the addition made during assessment, holding that the Assessing Officer (AO) had relied only on the assessee’s statement during...
![AO Must Re-Examine Income After Considering Stock Records: ITAT Remands Addition Based on Survey Statement [Read Order]](https://images.taxscan.in/h-upload/2025/12/07/500x300_2110733-ao-re-examine-income-considering-stock-records-itat-remands-survey-statement-taxscan.jfif "AO Must Re-Examine Income After Considering Stock Records: ITAT Remands Addition Based on Survey Statement [Read Order]")
ED Attachment Not Verified: NCLAT says NCLT Committed ‘Manifest Illegality’, Directs Fresh Inquiry [Read Order]
The National Company Law Appellate Tribunal (NCLAT) has set aside an order passed by the National Company Law Tribunal (NCLT), Mumbai, and remanded the matter for fresh consideration, holding that ...
![ED Attachment Not Verified: NCLAT says NCLT Committed ‘Manifest Illegality’, Directs Fresh Inquiry [Read Order]](https://images.taxscan.in/h-upload/2025/12/07/500x300_2110726-ed-attachment-verified-nclat-nclt-committed-manifest-illegality-directs-fresh-inquiry-taxscan.webp "ED Attachment Not Verified: NCLAT says NCLT Committed ‘Manifest Illegality’, Directs Fresh Inquiry [Read Order]")
![NCLAT upholds ₹36.53 Crore Liability against Former Directors in Fraudulent Trading Case [Read Order]](https://images.taxscan.in/h-upload/2025/12/07/500x300_2110721-nclat-upholds-liability-former-directors-fraudulent-trading-case.webp "NCLAT upholds ₹36.53 Crore Liability against Former Directors in Fraudulent Trading Case [Read Order]")
Scrap Sales & Incidental Receipts Linked to Eligible Undertaking Qualify for S.10A Deduction: Madras HC Rules in Favour of Cognizant [Read Order]
The Madras High Court in a recent case, has ruled that miscellaneous income, including scrap sales and interest on loans given to employees linked to eligible undertakings, qualifies for deduction...
![Scrap Sales & Incidental Receipts Linked to Eligible Undertaking Qualify for S.10A Deduction: Madras HC Rules in Favour of Cognizant [Read Order]](https://images.taxscan.in/h-upload/2025/12/03/500x300_2109830-madras-hc-rules-cognizan-taxscan.webp "Scrap Sales & Incidental Receipts Linked to Eligible Undertaking Qualify for S.10A Deduction: Madras HC Rules in Favour of Cognizant [Read Order]")