ICAI to Roll Out New Audit Standards for Digital-First Companies Soon
The Institute of Chartered Accountants of India (ICAI) is preparing to launch new Information Systems Audit Standards to improve the way audits are...
![GST Appeals cannot be Dismissed by Slipshod Orders: Chhattisgarh HC condones 26-Day Delay by Gannon Dunkerley [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/250x150_2078976-gst-appeals-slipshod-orders-chhattisgarh-hc-taxscan.webp "GST Appeals cannot be Dismissed by Slipshod Orders: Chhattisgarh HC condones 26-Day Delay by Gannon Dunkerley [Read Order]")
![CBDT Amends Rule 21AIA of Income Tax Rules: ETF Specified Fund Explanation Revised, Sub-Rule Omitted [Read Notification]](https://images.taxscan.in/h-upload/2025/08/22/250x150_2079208-2078208-cbdt-salary-income-tax-rules-taxscan.webp "CBDT Amends Rule 21AIA of Income Tax Rules: ETF Specified Fund Explanation Revised, Sub-Rule Omitted [Read Notification]")
![Genuineness of Penny Stocks Share Sale: ITAT Upholds ₹21.72 Lakh Addition as Sham Transaction [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/250x150_2078941-genuineness-penny-stocks-share-sale-itat-taxscan.webp "Genuineness of Penny Stocks Share Sale: ITAT Upholds ₹21.72 Lakh Addition as Sham Transaction [Read Order]")
![Disallowance of Excess Deductions and House Property Loss in Revised Returns: ITAT Sets Aside Order FAA’s Order [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/250x150_2078944-deductions-house-property-itat-faa-taxscan.webp "Disallowance of Excess Deductions and House Property Loss in Revised Returns: ITAT Sets Aside Order FAA’s Order [Read Order]")
90-Day Time Limit under Regulation 2B for Completing Section 230 Scheme of Arrangement is Directory: NCLAT grants 90 More Days [Read Order]
The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) ruled that the 90-day time limit under Regulation 2B of the IBBI (Liquidation Process) Regulations, 2016 for completing a...
![90-Day Time Limit under Regulation 2B for Completing Section 230 Scheme of Arrangement is Directory: NCLAT grants 90 More Days [Read Order]](https://images.taxscan.in/h-upload/2025/08/22/500x300_2079168-2062469-nclat-fraud-finding-former-director-orders-contribution-sham-transactions-taxscan.webp "90-Day Time Limit under Regulation 2B for Completing Section 230 Scheme of Arrangement is Directory: NCLAT grants 90 More Days [Read Order]")
Relief for Godrej: CESTAT Rules Provisional Refunds Given Under Court Orders Cannot Be Treated as Wrong Refunds, No Interest Payable [Read Order]
The Kolkata Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that provisional refunds granted under binding court orders cannot be treated as erroneous refunds, and no...
![Relief for Godrej: CESTAT Rules Provisional Refunds Given Under Court Orders Cannot Be Treated as Wrong Refunds, No Interest Payable [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/500x300_2079066-godrej-and-boyce-site-img-recovered.webp "Relief for Godrej: CESTAT Rules Provisional Refunds Given Under Court Orders Cannot Be Treated as Wrong Refunds, No Interest Payable [Read Order]")
Magistrate Issued Non-Bailable Warrant for Offence u/s 276C(2) of Income Tax Act, Punishable Max 3 Years: Bombay HC Quashes Order [Read Order]
In a recent ruling, the Bombay High Court held that issuing a non-bailable warrant for a bailable offence under Section 276C(2) of the Income Tax Act, which carries a maximum punishment of three ...
![Magistrate Issued Non-Bailable Warrant for Offence u/s 276C(2) of Income Tax Act, Punishable Max 3 Years: Bombay HC Quashes Order [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/500x300_2079037-untitled-2.webp "Magistrate Issued Non-Bailable Warrant for Offence u/s 276C(2) of Income Tax Act, Punishable Max 3 Years: Bombay HC Quashes Order [Read Order]")
Refund of Compensation Cess ITC Cannot be Denied When Goods are Exported on Payment of IGST: Gujarat HC [Read Order]
In a recent ruling, the Gujarat High Court held that refund of unutilised compensation cess input tax credit ( ITC ) cannot be denied when goods are exported on payment of Integrated Goods...
![Refund of Compensation Cess ITC Cannot be Denied When Goods are Exported on Payment of IGST: Gujarat HC [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/500x300_2079094-refund-compensation-cess-itc-denied-goods-exported-payment-igst-gujarat-hc-taxscan.webp "Refund of Compensation Cess ITC Cannot be Denied When Goods are Exported on Payment of IGST: Gujarat HC [Read Order]")
Detention of 100-Gram Gold Kada: Delhi HC Orders Release Citing Invalidity of Pre-Printed SCN Waiver [Read Order]
The HIgh Court of Delhi, ordered the release of a 100-gram gold kada detained by Customs, holding that the pre-printed waiver signed by the petitioner could not substitute for a proper Show Cause ...
![Detention of 100-Gram Gold Kada: Delhi HC Orders Release Citing Invalidity of Pre-Printed SCN Waiver [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/500x300_2079016-gold-kada-taxscan.webp "Detention of 100-Gram Gold Kada: Delhi HC Orders Release Citing Invalidity of Pre-Printed SCN Waiver [Read Order]")
Relief for Bentley Motors: CESTAT Quashes ₹20 Lakh Penalty, Rules Exporter Not Liable for Importer’s Undervaluation [Read Order]
The Delhi Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that an overseas exporter cannot be penalized under Section 112(a)(ii) of the Customs Act when the alleged ...
![Relief for Bentley Motors: CESTAT Quashes ₹20 Lakh Penalty, Rules Exporter Not Liable for Importer’s Undervaluation [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/500x300_2079085-relief-for-bentley-motors-cestat-penalty-rules-exporter-liable-importers-undervaluation-taxscan.webp "Relief for Bentley Motors: CESTAT Quashes ₹20 Lakh Penalty, Rules Exporter Not Liable for Importer’s Undervaluation [Read Order]")