Month: October 2026
In a recent judgment Andhra Pradesh High Court struck down Section 147A of the Income Tax Act, 1961 as unconstitutional. As a result, all the proceedings initiated by the respective Jurisdictional Assessing Officers (JAOs) under Sections 148A and 148 are without jurisdiction and are liable to be set …
Bank was liable to pay compensation to borrower as it did not verify the progress of construction before loan disbursals to builder – SC In a recent judgment, the Hon’ble Supreme Court confirmed the award of compensation to be paid to borrower by the bank holding that the …
No timeline mentioned in PMLA to forward the arrest order and the material in possession to the Adjudicating Authority. It has to be expeditiously and simultaneously – SC In a recent judgment, Hon’ble Supreme Court has held that there is no timeline mentioned in PMLA to forward the …
Whether the release of seized assets is mandatory upon completion of 120 days –High Court refers the case to a Larger Bench. In a recent judgment, the Hon’ble High Court has referred the question as to whether the release of seized assets is mandatory upon completion of 120 …
EPFO Extends date of filing of new ECR for the wage month September to 31st October 2026 Taking into account the additional time required to file ECR due to enhancement in the wage ceiling from Rs. 15000/- to Rs. 25000/- , EPFO has extended the final date for …
Earlier acceptance of investment is a relevant evidence in evaluating subsequent allegation that investments were fictitious from inception – High Court In a recent judgment, Hon’ble High Court has dismissed appeal of the Income Tax Department alleging fictitious investment observing that the earlier acceptance of the investments does …
A bald statement recorded during survey would not in itself be a foundation for any addition – ITAT In a recent judgment, ITAT Delhi has held that a bald statement recorded during the course of survey would not in itself be a foundation for any addition, especially if …
ICAI issued Guidelines for responding to Tenders by Chartered Accountants The ICAI has issued Tender guidelines to Chartered Accountants for responding to tenders with our without prescribing any minimum fee. GUIDELINES ON TENDERS THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA The Institute of Chartered Accountants of India (ICAI) …
Empanelment to act as ICAI exam observers for January 2027 CA Examination. Last date to apply is 20.11.2026 Empanelment of Chartered Accountant Members to act as Observers at Examination Centres for The Chartered Accountants Examinations to be held in January 2027. ICAI proposes to empanel members to act …
No arrest under GST- Major decision taken in 57th Meeting of the GST Council on 8th October 2026 PRESS RELEASE The 57th Meeting of the GST Council was held on 08/10/2026. GST Council made recommendations relating to process reforms primarily covering registration, returns, refund and adjudication; clarifications regarding …
