Month: May 2025
When land appurtenant was sold without building, it is not sale of residential property but sale of adjacent land and not qualified for exemption under section 54 of the Income Tax Act, 1961 In a recent judgment ITAT Allahabad upheld denial of exemption under section 54 holding that …
Punjab Gramin Bank invites application from Retired Officers for engagement as Concurrent Auditor of its branches Punjab Gramin Bank invites application from Retired Officers in Scale II to IV from own Bank (PGB) & sponsor bank (PNB) who retired after 20 years of satisfactory service, for engagement as …
Expenditure over income should have been considered even if the claim of exemption under section 11 was not allowed by CPC – ITAT In a recent judgment ITAT Guwahati has held that audited income and expenditure account showing net excess expenditure over income should have been considered even …
Dates of Trade Marks Agent Examination 2026 & Patent Agent Examination 2026 The Office of the CGPDTM announces that the Trade Marks Agent Examination 2026 will be tentatively held on 10th January 2026, and the Patent Agent Examination 2026 on 11th January 2026. The Office of the Controller General, Patents, Designs & Trade Mark …
The Ministry of Corporate Affairs has notified the Companies (Accounts) Amendment Rules, 2025 to extend the due date for filing Form CSR-2 for FY 2023-24 The Sub Rule (1B) of the Rule 12 of the Companies (Accounts) Rules, 2014 provides that for the financial year 2023-2024, Form CSR-2 shall be …
CBDT has notified ITR-U (Updated return of Income) u/s 139(8A) for Assessment Year 2025-26. CBDT has notified ITR-U (Updated return of Income) under section 139(8) of the Income Tax Act, 1961 (the Act) for Assessment Year 2025-26. Section 139(8A) of the Act provides that any person (whether or …
Addition of unexplained investment upheld when assessee was not in the category of the persons permitted to accept the demonetised currency. In a recent judgment Hon’ble Supreme Court dismissed the Petition challenging addition as unexplained investment towards deposit of demonetised currency in bank as after demonetisation, the assessee …
Investments made by a member shall not be construed as business in deciding qualifications for membership of a recognised stock exchange Rule 8 and of the Securities Contracts (Regulation) Rules, 1957 provide inter alia that no person shall be eligible to be elected or once elected continue as …
In deciding seat of arbitration, MSMED Act overrides agreement between the parties . MSMED Act overrides the Arbitration Act – Supreme Court In a recent judgment Hon’ble Supreme Court has held that MSMED Act overrides the Arbitration Act and for deciding the “seat of arbitration”, the agreement between …
Appointment letter clause requiring payment of liquidated damages for leaving employment before specified years not restraint of trade or opposed to public policy – SC In a recent judgment Hon’ble Supreme Court has held that clause in appointment letter requiring payment of liquidated damages by the employee in …
