Case remanded as no finding was given whether cash payments disallowed u/s 40A(3) were covered by Rule 6DD under Income Tax Rules, 1962.  In a recent judgment, ITAT Lucknow has remanded the case as there was no finding by the CIT(A) or the Assessing Officer whether the cash …

In case of investment in share capital, the source of investment may remain outside the control of the investee company. In a recent judgment, Allahabad High Court has held in the case of investment in share capital, it is the investor company is to be assessed with respect …

ICAI issues revised Code of Ethics (13th edition) ICAI has released revised Code of Ethics (13th edition). The revised Code of Ethics (13th edition)- Volume-I, II & III is applicable with effect from April 01, 2026 except for the s.no. (xxxi). The s.no. (xxxi) “Assessment and evaluation of Social …

Modified Norms for Nomination in Demat Accounts and Mutual Fund Folio SEBI has modified Norms on Nomination to be implemented by regulated entities for Demat Accounts and Mutual Fund Folios w.e.f. September 01, 2026 Default choice of nomination: For all single accounts / folios opened on or after …

Corporate Social Responsibility implementation through zero coupon zero principal instruments Ministry of Corporate Affairs (MCA) has authorised Corporate Social Responsibility (CSR) implementation through zero coupon zero principal instrument. The Companies (Corporate Social Responsibility Policy) Amendment Rules, 2026 provides that a company may carry out Corporate Social Responsibility activities …

Bar Council of India notifies the directions for the election disputes in 2026 State Bar Council election Pursuant to the orders of the Hon’ble Supreme Court, the Bar Council of India has notified the directions for the election disputes arising out of the elections to the State Bar …