Madras High Court modified conditions for provisional release of PVC Coated Fabric [goods involved in misclassified and undervalued] and directed payment of duty; payment of 50% of differential duty ...

IFSCA launched the Foreign Currency Settlement System (FCSS), operated by CCIL IFSC Ltd. The system settles USD transactions ...

Issuance of a valid notice under section 143(2) was mandatory and non-issuance or belated issuance vitiated the assessment.

Kerala High Court rules employees cannot claim TDS credit if employer fails to deposit deducted tax; directs IT Dept to act against defaulting ...

CBIC introduced system-based auto-approval for IFSC code registration, ending manual port-level checks. This streamlines the process for exporters to get incentives faster and enhances Ease of Doing ...

The Karnataka High Court ruled that when reassessment is based solely on material seized from a third-party search, the Income Tax Department must follow the specific procedure under Section 153C of ...

Karnataka HC upheld the deletion of a ₹7 Cr addition under Section 68, ruling that ITAT’s findings on the creditworthiness and genuineness of share purchasers were factual and not ...

ITAT Mumbai ruled that denying effective cross-examination of key witnesses, like R.K. Kedia, violated natural justice, vitiating the income tax assessment in a bogus long-term capital gains (LTCG) ...

Kerala High Court dismisses RTI appeal by Dhananjay Gaikwad; IBBI provided all information under its control, no new data required under RTI ...

Judicial ruling confirms that investment source for property purchased by a homemaker was genuine. The ITAT found that the entire consideration had a clear trail from the son's account, reversing the ...

SC expunges Kerala HC's surprise directions for fee refixation and vigilance inquiry, affirming that a litigant cannot be placed in a worse position in their own writ ...

ITAT Pune ruled a trust’s passive rental income, even if substantial, is not a "business activity" under Sec 2(15) proviso if utilized for charitable objects, directing Sec 12A ...