In a significant ruling, the Gujarat High Court held that statutory interest becomes mandatorily payable under Section 56 of the Goods and Services Tax Act, 2017, on delayed refunds of…
Under Section 44AB of the Income-tax Act, 1961, every taxpayer whose turnover or gross receipts exceed the prescribed threshold is required to get their accounts audited and furnish a Tax…
The Ministry of Finance (Department of Financial Services) issued Notification No. G.S.R. 790(E) dated October 27, 2025, announcing the Banking Companies (Nomination) Rules, 2025. The new rules have been framed under the…
The bench of the Madurai Bench of the Madras High Court held that the filing of an appeal against an assessment order does not, by itself, operate as a stay…
The bench of the Income Tax Appellate Tribunal, Amritsar, remanded the case to the Commissioner of Income Tax (Appeals) [CIT(A)] for fresh adjudication. The Tribunal directed that the issue relating…
MCA did not impose a penalty on the independent directors. It identified Whole time directors, Director, CFO, CS and subscriber of shares as officers in default.Baby Memorial Hospital Limited, a…
This weekly round-up analytically summarizes the key stories related to the Customs Excise and Service Tax Appellate Tribunal (CESTAT) reported at Taxscan from 09 June 2025 to June 14 2025. Delay Payment Charges Not…
The High Court of Madras, allowed monthly withdrawal of ₹48,000 from a pension account attached for tax recovery, citing protection under Section 11 of the Tamil Nadu Pension Act, 1871. S.Devarajan.…
The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), has issued Notification No. 56/2025 dated 12th June 2025, formally recognizing certain bonds issued by the National Bank…
The Gujarat High Court rendered a definitive decision on a provision that has long been the subject of debate and litigation when it quashed the whole proceedings under Rule 96(10) of the…