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High Court denied pre-arrest bail to accused of fake ITC utilisation on possibility of misusing the concession of pre arrest bail In a recent judgment, High Court of Punjab & Haryana denied pre-arrest bail to accused of fake ITC utilisation observing that there was possibility of petitioner’s misusing …
Return could not be said to be non est for non e-verification when AO had been taken due cognizance of the returned income in the Assessment order. In a recent judgment, Allahabad High Court has held that return could not be held to be non est for non …
Section 43CB read with ICDS-III is applicable to contractors and not real estate developers – ITAT In a recent judgment, ITAT Chennai has held that provisions of Section 43CB read with ICDS-III were applicable to contractors and not real estate developers and therefore the assessee being a developer …
Expenses incurred on ESOP are allowable as revenue expenditure u/s 37(1) of Income Tax Act – ITAT Delhi In a recent judgment, ITAT Delhi has held that expenses of ESOP is considered as allowable u/s 37(1) of the Act and mere admission of SLP before Supreme Court would …
Compliance history of supplier could not be used to invalidate the genuine business transactions of the buyer especially when the same was supported by documentary evidences – ITAT In a recent judgment, ITAT Chandigarh has held that compliance history of the supplier could not be used to invalidate …
Reassessment quashed as AO issued u/s 148 instead of 153C as reopening was based on incriminating material found during search In a recent judgment, ITAT Pune has quashed the reassessment order as Assessing Officer (AO) should have issued notice u/s 153C instead of notice u/s 148 since the …
Empanelment of Chartered Accountants/Cost Accountant/Legal firm for FEMA & other allied services Engineering Projects (India) Ltd. has invited application for empanelment of Chartered Accountants/Cost Accountant/Legal firm for FEMA & other allied services. Engineering Projects (India) Limited, herein termed as “EPI” was incorporated in 1970 as A Government of …
Individual contract for booking of persons for participation in an event is not “event management” contracts liable to service tax – Supreme Court In a recent judgment Hon’ble Supreme Court has held that Individual contract for booking of persons required for participation in the event are not commonly …
Minor delay should not come in the way of legitimate claim for any deduction if the assessee is otherwise entitled to exemption/deduction – High Court In a recent judgment, Hon’ble Madras High Court has condoned delay of 25 days in filing Audit Report in Form 10B holding that …
SEBI notifies the Securities and Exchange Board of India (Mutual Funds) Regulations, 2026 SEBI notifies the Securities and Exchange Board of India (Mutual Funds) Regulations, 2026. These regulations shall come into force with effect from April 1, 2026 The Regulation provide for Registration of a Mutual Fund and …
