• May 28, 2025

Sudhir Halakhandi – [2025] 174 taxmann.com 963 (Article) The Government has notified almost all Income Tax Return (ITR) forms applicable to Individual Taxpayers for the financial year 2024–25 (assessment year 2025–26), yet taxpayers are still unable to file their returns for this period. This is not due to a lack of preparedness on the parts of […]

• May 27, 2025

Circular No. A.P. (DIR Series) Circular No. 06; Dated: 23-05-2025 1. Background Under the Foreign Exchange Management Act (FEMA) framework, Investment Vehicles (“IVs”)—including Real Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs), and Alternative Investment Funds (AIFs)—may raise funds from persons resident outside India (“PROI”). Until recently, the Reserve Bank of India (RBI) allowed these […]

• May 26, 2025

Interest rate derivatives are financial instruments whose value is based on underlying interest rates or interest rate movements. These instruments are widely used by financial institutions, corporations, and investors to manage exposure to fluctuations in interest rates or to speculate on future rate changes. Common types of interest rate derivatives include interest rate swaps, where […]

• May 25, 2025

Case Details: Abhijit Realtor & Infraventures (P.) Ltd. vs. Rohit Mehra - [2025] 174 taxmann.com 618 (NCLT-Mum.) Judiciary and Counsel Details Madhu Sinha, Technical Member & Reeta Kohli, Judicial Member Rakesh Kumar, Preeti Kashyap, Ankit Sharma, Varun Pandit, Rishabh Arora & Yash Dhawan, Advs. for the Applicant. Mustafa Doctor, Sr. Adv., Nishant Sogani, Saurabh Bachhawat, Shrishti Agnihotri, Divij Kumar, Advs. & Varun Tandon, for the Respondent. […]

• May 24, 2025

Notification No. IBBI/2025-26/GN/REG125; Dated: 19.05.2025 1. What Has Changed? The Insolvency and Bankruptcy Board of India (IBBI) has inserted a new Regulation 17B into the IBBI (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 through the Amendment Regulations, 2025 (Notification No. IBBI/2025-26/GN/REG125, dated 19 May 2025). 2. Operational Workflow Under Reg-17B Trigger […]

• May 23, 2025

Case Details: Aviral Technology Solutions and Telecom (P.) Ltd. vs. Union of India - [2025] 174 taxmann.com 433 (Delhi) Judiciary and Counsel Details Pratibha M. Singh & Rajneesh Kumar Gupta, JJ. Puneet Rai, Sanjay Sharma, Ms Srishti Sharma, Advs. for the Petitioner. Vaishali Gupta, Panel Counsel, Prakash Singh Negi, Sidharth Joshi, Advs. for the Respondent. Facts of the Case The […]

• May 22, 2025

Case Details: State of Karnataka vs. K-9 Enterprises - [2025] 174 taxmann.com 701 (SC) Judiciary and Counsel Details J.B. Pardiwala & R. Mahadevan, JJ. Prateek Krishna Chadha, A.A.G., Naveen Sharma, AOR, Mrs Swati Bhushan Sharma, S. K. Sharma, Sreekar Aechuri, Ms Surbhi Soni & Aniket Chauhaan, Advs. for the Petitioner. Facts of the Case The petitioner, an assessee under the CGST Act […]

• May 21, 2025

Notification No. 49/2025, dated 19-05-2025 1. Legislative Update at a Glance Finance Act 2025 has amended Section 139 (8A) of the Income-tax Act, 1961, extending the window to furnish an Updated Return (ITR-U) from 24 months to 48 months after the end of the relevant assessment year (AY). The change takes effect 1 April 2025. […]

• May 19, 2025

GSTN Advisory, Dated 16-05-2025 In response to feedback and concerns raised by taxpayers and industry stakeholders, the Goods and Services Tax Network (GSTN) has issued a clarification regarding the editability of Table 3.2 in Form GSTR-3B. 1. Background – Earlier Advisory Proposed Non-Editable Format On April 11, 2025, the GSTN released an advisory stating that […]