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SEBI Honors Kargil Heroes on Vijay Diwas with Wreath Laying Ceremony
PR No. 47/2025; Dated: 26.07.2025 On the solemn occasion of the 26th Kargil Vijay Diwas, the Chairman of SEBI, Shri Tuhin Kanta Pandey, led a poignant wreath-laying ceremony at the SEBI Head Office located in BKC, Bandra, Mumbai. The ceremony served as a mark of deep respect and remembrance for the brave soldiers of the […]
Relaxation of time limit for processing of returns of income filed electronically which were incorrectly invalidated by CPC
Publish Date : Monday, July 28, 2025 source
Refund Allowed with Interest as Deficiency Memo Untraceable | HC
Case Details: Sisla Laboratories vs. Deputy Commissioner of CGST - [2025] 176 taxmann.com 432 (Delhi) Judiciary and Counsel Details Pratibha M. Singh & Rajneesh Kumar Gupta, JJ. Facts of the Case The petitioner-assessee had filed refund applications, but the rejection of those claims came to the petitioner’s knowledge only during the course of the present […]
Partial Modification of Circular No.3 of 2023 dated 28-3-2023 regarding consequences of pan becoming inoperative as per Rule 114AAA of the Income-tax Rules, 1962
Publish Date : Monday, July 21, 2025 source
CGST Dept Wrongly Attached Mortgaged Property | HC
Case Details: CFM Asset Reconstruction (P.) Ltd. v. Assistant Commissioner, CGST & C.EX, Durgapur-i Division - [2025] 176 taxmann.com 572 (HC - Calcutta) Judiciary and Counsel Details Raja Basu Chowdhury, J. Jishnu Chowdhury, Sr. Adv., Ms. Aasia Hasan & Ms. Sakshi Tiwari for the Petitioner. Ms. Manasi Mukherjee, Tapan Bhanja, Bijitesh Mukherjee, Arijit Chakraborty, Bankim Pal, Sayantan […]
[Analysis] Select Committee Report on Income Tax Bill 2025 – 30 Key Recommendations
The Income Tax Bill, 2025 marks a significant legislative step toward replacing the six-decade-old Income Tax Act, 1961. Referred to a Select Committee of the Lok Sabha for detailed review, the Bill has undergone a comprehensive clause-by-clause examination. In its report submitted on July 21, 2025, the Committee made several recommendations aimed at removing ambiguities, […]
ITAT Denies Section 13A Exemption to INC for Late ITR
Case Details: Indian National Congress All India Congress Committee v. Deputy Commissioner of Income-tax [2025] 176 taxmann.com 688 (Delhi-Trib.) Judiciary and Counsel Details Satbeer Singh Godara, Judicial Member & M. Balaganesh, Accountant Member P.C. Sen, Sr. Adv., Prasanna, N. Bhalla, Advs. & L.M. Garg, CA for the Appellant. Zoheb Hossain, Special Counsel, Vipul Agrawal, Sr. Standing Counsel, Sanjeev Menon, Adv. & […]
HC Rejects Writ Against OIO for Lack of Audit Report | Appeal Remedy Available
Case Details: Unicure Remedies (P.) Ltd. vs. Union of India - [2025] 176 taxmann.com 527 (Gujarat) Judiciary and Counsel Details Bhargav D. Karia & Pranav Trivedi, JJ. Anandodaya S. Mishra for the Petitioner. Deepak N. Khanchandani for the Respondent. Facts of the Case The petitioner was engaged in the manufacturing of pharmaceutical products. Notices for conducting an […]
RBI Issues Draft Master Directions on ‘Digital Banking Channels Authorisation’
PR No. 2025-2026/752; Dated: 21.07.2025 The Reserve Bank of India (RBI) has released the draft Master Directions titled ‘Digital Banking Channels Authorisation’, marking a significant step towards standardising and regulating the growing digital banking ecosystem in India. 1. Scope of the Directions The draft Master Directions provide a comprehensive framework for entities offering digital banking […]
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