Every resolution plan to include a statement of beneficial-ownership of all natural persons who ultimately owns or controls the resolution applicant Insolvency and Bankruptcy Board of India Notification New Delhi, the 22nd December, 2025 Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Seventh Amendment) …

Change in the address of Debts Recovery Appellate Tribunal, Allahabad with effect from 11.12.2025 Ministry of Finance(Department of Financial Service) Notification New Delhi, the 18th December, 2025 S.O. 5956E.—In exercise of the powers conferred by Section 3 of the Recovery of Debts and Bankruptcy Act, 1993 (51 of …

Updated list of banks authorised by Reserve Bank of India to import only gold for FY 2025-26 with effect from 01,04.2025 and valid upto 31,03.2026  Amendment in Appendix 4B of Handbook of Procedures 2023  In exercise of the powers conferred under paragraphs I .03 &2.04 of the Foreign …

Under percentage completion method, selling/Admin costs are allowable despite no revenue declared as per guidance note of ICAI. In a recent judgment, ITAT Delhi has held that under percentage completion method, selling costs like advertisement, business promotion and commission expenses are allowable despite that assessee had not declared …

AO cannot use reverse computation of gross payment using TDS amount to determine the amount disallowable u/s 40(a)(ia) – ITAT In a recent judgment, ITAT Delhi has held that the AO cannot resort to reverse mechanism using TDS amount to determine the gross amount of payment to workout …

Once loans were repaid in subsequent assessment years with cogent evidences then the addition u/s 68 of the Income Tax Act cannot be made – ITAT Guwahati In a recent judgment, ITAT Guwahati has held that once the assessee has established that loans were repaid in the subsequent …