Once appeal of assessee is set aside by ITAT with certain directions, then the consequential proceedings are fresh proceedings – ITAT In a recent judgment, ITAT Delhi has held that once the appeal of the assessee is set aside by Tribunal with certain directions for reconsideration of the …

New facts surfaced during investigation and would not have become known but for investigation amounts to wilful suppression to evade tax – High Court In a recent judgment, Patna High Court has held that where facts surfaced during investigation were not earlier known to them and they would …

CBDT Circular fixing a time limit for making condonation application u/s 119(2)(b) of the Income Tax Act, 1961 (the Act) is illegal – Madras High Court In a recent judgment, Madras High Court condoned the delay in filing audit report Form 10-B observing that CBDT Circular fixing a …

Interest income to be excluded from gross receipts while computing percentage of Govt. finance for determining the exemption u/s 10(23C)(iiiab). In a recent judgment, ITAT Ranchi has held that interest income is not to be included in gross receipts of the society while computing 50% of Govt. financing …

RBI lays down revised rules for bank prepayment charges on all floating rate loan & advances sanctioned or renewed on or after January 1, 2026.  Reserve Bank of India has issued RBI (Pre-payment Charges on Loans) Directions, 2025. These Directions shall apply to all commercial banks (excluding payments banks), co-operative …

Revised and up to date list of acceptable supporting documents for Aadhaar enrolment and update from 3rd July 2025. UIDAI has revised list of acceptable supporting documents for Aadhaar enrolment and updation. The Unique Identification Authority of India amended the Aadhaar (Enrolment and Update) Regulations, 2016 by notifying …