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Claim of exemption u/s 10(26) for Tribal Person remanded when by ignorance PAN was wrongly applied in the name of Partnership Firm. In a recent judgment, ITAT Guwahati remitted the issue claim for exemption u/s 10(26) for Tribal Person when by ignorance PAN was wrongly applied in the …
Relief to private companies for issue of dematerialised securities. Date extended to 30th June, 2025.”. MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, the 12th February, 2025 G.S.R. 131(E).―In exercise of the powers conferred by section 26, sub-section (1) of section 27, section 28, section 29, sub-section (2) of …
New Income Tax Bill 2025 nearly doubles existing sections of 1961 Act. Download copy of Bill and read FAQs on New Income Tax Bill 2025 Union Finance Minister, in her Budget 2025 speech has informed the proposal to introduce the new Income-Tax Bill/Code. The new Income Tax Act …
No service tax leviable on transactions between purchaser of lottery tickets and Government of Sikkim – Supreme Court In a recent judgment, Hon’ble Supreme Court has held that there being no agency and no service rendered by the sellers/distributors as an agent to the Government of Sikkim, …
SEBI fixes responsibility for use of artificial intelligence and machine learning tools and techniques SEBI has notified he Securities and Exchange Board of India (Intermediaries) (Amendment) Regulations, 2025 to regulate use of artificial intelligence The Securities and Exchange Board of India (Intermediaries) Regulations, 2008 has been amended by …
Without recalling earlier order, fresh rectification order u/s 154 can not be passed In a recent judgment, Allahabad High Court has quashed second rectification order u/s 154 which was passed without recalling the earlier order passed u/s 154 ABCAUS Case Law Citation:4409 (2025) (02) abcaus.in HC In the …
Annual Statement u/s 285 by a non-resident to be furnished within eight months Under section 285 of the Income Tax Act, 1961 (the Act) every person, being a non-resident having a liaison office in India set up in accordance with the guidelines issued by the Reserve Bank of …
Possibility of initiating proceedings against an assessee cannot be kept pending over his head like a Damocle’s sword – Penalty u/s 271B quashed by High Court In a recent judgment, the Hon’ble Kerala High Court has quashed penalty u/s 271B observing that the possibility of initiating proceedings against …
There is no provision in Income Tax Act for discounting the time spent during the pendency of proceedings against the deceased assessee while computing the limitation period for initiating the proceedings against his Legal Representatives. In a recent judgment, the Hon’ble Karnataka High Court has held that there …
Procedure to be followed in department appeal filed against interest and/or penalty only, related to Section 128A of the CGST Act, 2017 CBIC has issued Instruction No. 02/2025-GST dated 07.02.2025 specifying procedure to be followed in department appeal filed against interest and/or penalty only, related to Section 128A …
