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Income tax penalty can not be imposed on the HUF which was no longer in existence and dissolved upon partition In a recent judgment, Hon’ble Calcutta High Court has held that income tax penalty can not be imposed on the HUF which was no longer in existence. Even …
Validity period for receiving and utilising the foreign contribution through an application of prior permission Under the FCRA, 2010, every person having a definite cultural, economic, educational, religious or social programme may, if it is not registered with the Central Government under section 1 1(1), accept any foreign …
SEBI warns Mr. Saravana R an unregistered investment advisor at Cosmofeed platform The Securities and Exchange Board of India (SEBI) issued a warning to Saravana R, Bengaluru associated with Cosmofeed, due to his involvement in providing unauthorized investment advice through social media platforms Cosmofeed is an all-in-one platform …
Simplification of procedures related to Air Cargo Movement & Transhipment. Harmonise procedure for movement of Unit Load Devices (ULD) outside Customs Area for of high-value or perishable nature of goods in import/export A need was felt for facilitating upgradation of infrastructure and warehousing for air cargo including high …
The Goods and Services Tax Appellate Tribunal (Procedure) Rules 2025, notified The Goods and Services Tax Appellate Tribunal (Procedure) (GSTAT) Rules, 2025, notified by the Central Government on April 24, 2025, via notification no. G.S.R. 256(E), outline the procedural framework for the functioning of the Goods and Services …
CBDT enlarges the scope of section 37, to exclude expenditure incurred to settle proceedings under four laws out of business expenditure CBDT has issued notification enlarging the scope of section 37, to exclude from the definition of business expenditure, any expenditure incurred to settle proceedings under four laws …
Supply of service by a club or association to its members is not a taxable service for the purposes of GST. In a recent judgment, Hon’ble Kerala High Court has held that supply of service by a club or association to its members is not a taxable service …
RBI caps maximum compounding amount at Rs. 2,00,000/- for compounding of certain contraventions under FEMA, 1999 in exceptional circumstances/ facts involved. RBI Master Directions on compounding of contraventions under FEMA, 1999, dated April 22, 2025 provides that as per provisions under section 13 of FEMA,1999, the penalty amount can be …
No interference with order passed after considering replies filed by the petitioner and after providing an opportunity of personal hearing – High Court In a recent judgment, Hon’ble Madras High Court has held that since the impugned order was passed after due consideration of the replies filed by …
Goods transported subsequently to cancellation of GST registration was a sham transaction even though goods were accompanied by tax invoice and e-way bill. In a recent judgment, the Hon’ble Allahabad High Court has held when the GST registration of the dealer stood cancelled by the Department, goods transported …
