In a recent decision, the Madras High Court dismissed review petitions filed by the Commissioner of Customs, ruling that once an Advance Ruling (AAR) has been upheld by courts, the classification dispute…
The Reserve Bank of India (RBI), through a notification dated June 13, 2025, issued amendments to the Know Your Customer (KYC) Directions, 2016, introducing extended deadlines, business correspondent support, and mandatory customer notifications to…
As the income tax return (ITR) filing season begins, many taxpayers and chartered accountants are facing major problems using the Income Tax Department’s e-filing website. Since Thursday night, users have been…
The High Court of Madras,allowed the benefit of the New Samathana Scheme 2023 to the assessee for commercial tax arrears relating to the assessment years 2015-16 to 2017-18, noting that the delay…
The Madras High Court dismissed a writ petition challenging the dismissal of his appeal before the Customs, Excise, and Service Tax Appellate Tribunal ( CESTAT ). It ruled that a person who…
In a recent ruling, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) granted relief to Micromax Informatics Ltd. by quashing a revision order concerning Rs. 16 crore fixed deposit (FD)…
In a significant relief for luxury retail giant Louis Vuitton India Retail Pvt. Ltd. (LV), the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the Bright Line…
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) allowed Genpact Services LLC's claim for depreciation on customer contracts and assembled workforce, holding that these qualify as intangible assets under the…
The Central Government has reduced the import tax (Basic Customs Duty) on three major crude edible oils, such as sunflower oil, soybean oil, and palm oil, from 20% to 10%. This move…
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that gift of property share from husband to wife is eligible for capital gain exemption under Section 54 of Income Tax Act,1961, but held…