The High Court of Karnataka, in a case involving a seven-year delay in filing appeals due to the trustee’s health, dismissed the appeal, upholding the Income Tax Appellate Tribunal (…
The Central Board of Direct Taxes (CBDT), Ministry of Finance issued Notification No. 133/2025 [G.S.R. 555(E)] dated 18 August 2025, amending the Income Tax Rules, 1962 by introducing two new…
The Reserve Bank of India (RBI), through its Notification No. RBI/2025-26/73; CO.DPSS.RLPD.No.S536/04-07-001/2025-2026 dated August 13, 2025, has announced a major reform to the Cheque Truncation System (CTS). The central bank…
The government has introduced a major reform to India’s insolvency framework with the Insolvency and Bankruptcy Code (Amendment) Bill, 2025. Presented in the Lok Sabha by Finance Minister Nirmala Sitharaman,…
Form No.35, is the official form used to file appeals before the Commissioner of Income Tax(Appeals)[CIT(A)]. Recently, many tax professionals have noticed some changes while submitting this form online. The…
The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) allows Tax Deducted at Source ( TDS ) credit to the person in whose hands the income is assessable…
The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside an addition of Rs. 1.91 crore made under Section 68 read with Section 115BBE and…
The Mumbai Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that group mediclaim for employees and their families, personal accident insurance, and vehicle insurance qualify as…
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) remanded the matter for fresh adjudication and directed the CIT(A) to verify the assessee’s claims regarding the sale consideration of…
The Reserve Bank of India (RBI) issued A.P. (DIR Series) Circular No. 09 dated August 12, 2025, granting permission for persons resident outside India who maintain Special Rupee Vostro Accounts…