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Misclassification of Real Estate Income as LTCG u/s 50C: ITAT Remands ₹21.24 Lakh Addition for Fresh Adjudication [Read Order]

The Income Tax Appellate Tribunal (ITAT), Nagpur Bench, has set aside the ex parte order passed by the CIT(A) and remanded the matter to the AO for...

DRAT Transfers Cases from DRT-III to DRT-II to Ensure Fair Proceedings amid Allegations of Bias

Challenge on Service Tax Liability on "Event Management Service": Supreme Court Allows Exemption...

GST Reg. Cancellation can be Revoked when Dealer agrees to Clear Dues: J&K & Ladakh HC Directs...

RBI Notifies Removal of 19 Regional Rural Banks from the Second Schedule [Read Notification]

MCA Penalises Company, Directors and CS for Issuing Rights to Non-Shareholders and Allotting Shares Before Offer Closure

The Ministry of Corporate Affairs ( MCA ), through the Registrar of Companies ( ROC ) has imposed penalties on a company, its directors and its Company Secretary for multiple violations relating to a...

Bombay HC Refuses Interim Relief to Same-Sex Couple Alleging Discrimination in Income Tax Exemption

The Bombay High Court refused to grant interim relief to a same-sex couple challenging the constitutional validity of Section 56(2)(x) of the Income Tax Act, which they claimed discriminates...

Guidelines on Costs for Compounding Cheque Dishonour Cases in Damodar S Prabhu Ruling not Binding: Supreme Court [Read Judgement]

The Supreme Court of India has set aside the cost imposed on appellant Rajeev Khandelwal by the High Court of Judicature at Bombay while disposing of a revision petition arising under Section 138...

Concurrent Jurisdiction of JAO and FAO to initiate Re-assessment proceedings under Income-Tax Act: Supreme Court issues notice [Read Judgement]

The Supreme Court of India has issued notice in a batch of Special Leave Petitions (SLPs) against the Income Tax Department, challenging the judgment of the Delhi High Court. The High Court...

Key Changes in GSTR-9 and GSTR-9C for FY 2024-25: Everything You Should Know

The GST annual reporting process for FY 2024-25 has undergone several important updates. These changes affect how taxpayers must report Input Tax Credit (ITC), tax payments, reversals, and ...

Clinical Trial/Testing Services Conducted Outside India but Reports Delivered to Indian Recipient Liable to Service Tax: CESTAT [Read Order]

The Bangalore Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that clinical trial and testing services conducted outside India but whose reports were delivered to an ...

DRAT Orders Transfer of Company Liquidation Appeal from Madras HC to DRT for Proper Legal Proceedings on Sale Irregularities [Read Order]

The Debts Recovery Appellate Tribunal (DRAT), Chennai, has transferred the appeal filed by the Official Liquidator of M/s. Maxworth Orchards (India) Ltd. from the Madras High Court to the Debts...

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