Penalty u/s 271AAA(1) not leviable on undisclosed income offered during assessment proceedings and not during search – Supreme Court. In a recent judgment, the Hon’ble Supreme Court held that penalty u/s 271AAA(1) was not leviable when assessee offered undisclosed income during the course of assessment proceedings only and …
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 …
