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Non-Registration of Trust Under State Trust Act Not a Hurdle for Registration Under Income Tax Act | ITAT
Case Details: APJ Abdul Kalam Education and Welfare Trust vs. Commissioner of Income-tax, Exemption - [2025] 171 taxmann.com 569 (Jaipur-Trib.) Judiciary and Counsel Details Dr. S. Seethalakshmi, Judicial Member & Gagan Goyal, Accountant member Deepak Sharma, Adv. for the Appellant. Ms Alka Gautam, CIT, Ld. DR for the Respondent. Facts of the Case The assessee-trust applied for […]
Builder Cannot Deduct GST From Refund of Booking Amount if No Such Clause Exists in Sale Agreement | HC
Case Details: Emerald Haven Realty Developers (Paraniputhur) (P.) Ltd. vs. S.V. Ramesh - [2025] 171 taxmann.com 321 (Madras) Judiciary and Counsel Details Mrs J. Nisha Banu & R. Sakthivel, JJ. Satish Parasaran, Senior Counsel & Rahul Balaji for the Appellant. Devaraj & Siddharath Bhandari for the Respondent. Facts of the Case The assessee, a real estate developer, […]
Order of Rejection to Be Set Aside as There Was No Restriction for Persons Outside State to Seek GST Registration in Andhra Pradesh | HC
Case Details: Tirumala Balaji Marbles and Granites vs. Assistant Commissioner ST - [2025] 171 taxmann.com 594 (Andhra Pradesh) Judiciary and Counsel Details R. Raghunandan Rao & Harinath. N, JJ. Anil Kumar Bezawada, for the Petitioner. Facts of the Case The petitioner, a business entity seeking to establish operations in Andhra Pradesh, applied for GST registration under […]
Petitioner Can’t Be Held Liable for Dishonour u/s 138 of NI Act as He Wasn’t a Director of Accused Company, Drawer of Cheque | HC
Case Details: Sanjay Dhingra v. Woori Bank, Gurgaon Branch - [2025] 171 taxmann.com 525 (HC-Delhi) Judiciary and Counsel Details Amit Mahajan, J. Karan Batura & Jayant Chawla, Advs. for the Petitioner. Rohit, SI for the Respondent. Facts of the Case In the instant case, the Respondent bank extended a loan to the company, i.e., ‘KL’. Since ‘KL’ […]
Government Reintroduces Advocates (Amendment) Bill, 2025 for Public Consultation; Bar Council Welcomes Decision
Press Release; Dated: 22.02.2025 Earlier, the Advocate (Amendment) Bill, 2025, was opened for public consultation on Feb 13, 2025, via the Department of Legal Affairs website, reflecting the government’s commitment to transparency. Given the numerous suggestions received, the consultation process is now concluded. The revised draft will undergo further stakeholder consultation. The Bar Council of […]
RBI Issues New Directions on Forward Contracts in Government Securities Effective May 02, 2025
Notification No. FMRD.DIRD.17/14.03.042/2024-25, Dated 21-02- 2025 The RBI, under sections 45W and 45U of the RBI Act, 1934, has issued the Reserve Bank of India (Forward Contracts in Government Securities) Directions, 2025. These apply to forward contracts in government securities (bond forwards) in the Over-the-Counter (OTC) market in India. The directions are effective from May […]
Taxmann’s Analysis | SEBI Proposes Key Reforms to Strengthen Audit Oversight & Corporate Governance
SEBI Corporate Governance Reforms are a series of regulatory initiatives introduced by the Securities and Exchange Board of India to enhance transparency, accountability, and compliance in the capital markets. These reforms focus on strengthening audit oversight, standardising disclosure norms for related party transactions, and improving secretarial compliance reporting among listed entities. By updating key regulations […]
[World Tax News] Sri Lanka Unveils Budget 2025 With Capital Gains Tax Hike and More
Editorial – [2025] 171 taxmann.com 608 (Article) World Tax News provides a weekly snippet of tax news from around the globe. Here is a glimpse of the tax happening in the world this week. (a) Sri Lanka unveils Budget 2025 with Capital Gains tax hike; (b) Panama introduces new withholding tax form for SEM Regime; […]
Assessee Directed to File Refund Claim Under ‘Others’ if GSTN Portal Restricts It Under the Category of Export of Services | HC
Case Details: Vodafone Idea Ltd. v. Union of India - [2025] 171 taxmann.com 364 (Bombay) Judiciary and Counsel Details B.P. Colabawalla & Firdosh P. Pooniwalla, JJ. Darius Shroff, Sr. Adv. & Rahul P. Jain, Adv. for the Petitioner. Jitendra Mishra, Sangeeta Yadav & Rupesh Dubey, Advs. for the Respondent. Facts of the Case The petitioner, an exporter of […]
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