Sending or bringing currency of Nepal and Bhutan – RBI revises exiting regulations  RBI has notified the Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2025 to specify revised limit on sending or bringing currency of Nepal and Bhutan The Regulation No. 8 of the Foreign …

Entire manufacturing process though by distinct units relevant for exemption from excise duty on account of manufacture without aid of power. In a recent judgment, Hon’ble Supreme Court has held that entire manufacturing process of conversion of grey fabrics into cotton fabrics though by distinct units is to …

High Court condoned delay in filing Form 10B as the failure was in the 1st Year of operation of the Trust. In a recent judgment, Hon’ble madras High Court condoned delay in filing Form 10B as the failure was in the 1st Year of operation of the Trust. …

Penalty u/s 270A quashed as there was no satisfaction in the penalty order on what exactly was under reporting of income and what was misreporting of income by the assessee In a recent judgment, ITAT Raipur deleted penalty under section 270A observing that there was no satisfaction brought …

Small Company threshold of paid-up capital increased to Rs. ten crores and turnover to Rs. hundred crores w.e.f. 1st December 2025. What is a small company? Answer: Before the amendment, as per section 2(85) of the Companies Act 2013, to pass the test of a small company it …

For registration u/s 12AA if Commissioner’s satisfaction is limited to the objects of the Institution, or also to genuineness of its activities? – Special Leave Petition (admitted by Supreme Court In a recent case Hon’ble Supreme Court has admitted Petition of the Income Tax Department to consider the …