Author: administrator

The prima facie satisfaction u/s 148 cannot be stretched to a non-existing information or incorrect information – ITAT In a Recent judgment, ITAT Hyderabad has held that the prima facie information considered by the AO for issue of notice u/s 148 cannot be stretched to a non-existing information …

Mutual Funds to value physical Gold and Silver by using the polled spot prices published by the recognized stock exchanges SEBI has issued Circular on the valuation of physic al Gold and Silver held by mutual fund scheme As per the extant regulatory framework, physical Gold and Silver …

Supreme Court allows simultaneous CIRP proceedings against principal debtor and its corporate guarantor, declines to frame any guidelines In a recent judgment, the Hon’ble Supreme Court allowed appeals against order of Adjudicating Authorities (NCLT/NCLAT) holding that simultaneous proceedings for Corporate Insolvency Resolution Process under IBC against the principal …

Merely because assessee had declared sales for only one month, the same cannot be treated as bogus on the basis of suspicion. In a recent judgment, ITAT Agra has held that merely because the assessee had declared sales for only one month during the year, the same cannot …

ITAT deleted addition as the method of accounting had been accepted by the department in earlier years and the entire exercise was revenue neutral In a recent judgment, ITAT Delhi deleted addition made as the method of accounting had been accepted by the department in earlier years and …

Orders passed under Benami Act cannot be challenged under Insolvency and Bankruptcy Code, 2016 – SC In a recent judgment, Hon’ble Supreme Court has held that orders passed under Benami Act cannot be questioned before authorities under the Insolvency and Bankruptcy Code, 2016 ABCAUS Case Law Citation:5054 (2026) …

RBI notified format of Currency Declaration Form (CDF) to declare foreign exchange brought into India Regulation 6 of the Foreign Exchange Management (Export and Import of Currency) Regulations, 2015 provides for the regulation related to import of foreign exchange into India. It is provided that (a) a person …

MCA introduces Companies Compliance Facilitation Scheme 2026 Ministry of Corporate Affairs has issued General Circular No. 01/2026 dated 24.02.2026 introduced Companies Compliance Facilitation Scheme, 2026 to give a one-time opportunity to allow defaulting companies to file their documents related to Annual Return and Financial Statements in the MCA-21 …

In case of admitted income, it is not for the Assessing Officer to establish the evidentiary basis thereof – High Court In a recent judgment, the Hon’ble High Court has held that in the case of admitted income, it is not for the Assessing Officer to establish the …

Government of India and France sign the Amending Protocol to amend the India-France Double Taxation Avoidance Convention CBT has stated that during the recent visit of the President of France to India, the Government of the Republic of India and the Government of the French Republic have signed …