Assessee not expected to prove the negative that he has not availed fictitious loan – ITAT In a recent judgment, Chennai ITAT quashed revisionary proceedings u/s 263 holding that assessee cannot be expected to prove the negative that he has not availed fictitious loan in the absence of …

RBI has not instructed banks to require CA certificate on unaudited Financial Statements or certify identity and address of a loanee. Reserve Bank of India, reply to an application filed by CA Pranav Pramod Ashtikar under Right to information Act (RTI) 2005, has clarified about banks/financial institutions requiring …

In UP schools are exempted from house tax but not from water tax & sewerage tax – Allahabad High Court In a recent judgment, Allahabad High Court has held that In Uttar Pradesh schools are exempted from house tax but no such exemption is available for levy of …

Enabling filing of Application for special procedure for rectification of order as per Notification No. 22/2024-CT, dt. 08/10/24, 2024 GSTN Enables filing of Application for special procedure for rectification of order to be followed by the class of registered persons against whom any order under section 73 or …

One can’t keep possession of End-of-Life vehicle beyond 180 days w.e.f. 01.04.2025 The Ministry of Environment, Forest and Climate Change (Central Government) has notified the Environment Protection (End-of-Life Vehicles) Rules, 2025. They shall come into force from 1st day of April, 2025. The Rules apply all types of …

Procedure for export of certified organic products – DGFT issues Public Notice Director General of Foreign Trade (DGFT) has issued a Public Notice specifying procedure for export of certified organic products. In suppression of its earlier Public Notice No. 73(RE-2013)2009-2014 dated 18.11.2014 and Public Notice No. 10/2015-2020 dated …