Day: March 20, 2025

Approved Resolution Plan is binding on Income Tax Department. Demands raised subsequently are invalid – Supreme Court In a recent judgment, the Hon’ble Supreme Court has held that the approved Resolution Plan is binding on the Income Tax Department and any subsequent demand raised are invalid. ABCAUS Case …

The Reserve Bank of India (RBI) has appointed Shri Indranil Bhattacharyya as Executive Director (ED) with effect from March 19, 2025. Prior to his promotion as ED, Shri Bhattacharyya was serving as Adviser in the Monetary Policy Department of the Bank. Over a span of nearly three decades, …

Statements recorded u/s 131(1A) instead of section 133A(iii) by survey team were invalid hence no addition can be made merely on the basis of invalid statements – ITAT In a recent judgment, ITAT Chennai has held that statements recorded u/s 131(1A) instead of section 133A(iii) by the survey …

ITAT was not justified in declining admission of additional evidence without recording finding those documents were not necessary for deciding the case. In a recent judgment, Hon’ble Chhattisgarh High Court held that ITAT was not justified in declining the application for admission of additional evidence as it did …

SEBI to utilise DigiLocker as a means of reducing unclaimed assets in stock market. SEBI has decided to use the facility of DigiLocker as a means of reducing unclaimed assets in stock market. As per Circular dated 19.03.2025 SEBI has issued necessary directions and advisory to investors in …