Aditya Narayan Parida 
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently reaffirmed an important principle governing Section 41(1) of the Income Tax Act, 1961 — that an addition on account of remission or cessation of liability cannot be sustained in the absence of …
In a significant ruling that brings clarity to capital gains reinvestment timelines, the Income Tax Appellate Tribunal (ITAT), Mumbai has held that making the investment payment within two years from the date of sale is sufficient to claim Section 54F …
Justice Surya Kant, who is set to take oath as the 53rd Chief Justice of India on 23 November 2025, brings with him a judicial legacy marked by bold constitutional reasoning, administrative reform, and empathy toward citizen rights. Hailing from Hisar, Haryana, he …
The Institute of Chartered Accountants of India (ICAI) is once again set to lock horns with the National Financial Reporting Authority (NFRA) — this time over the contentious revision of Standard on Auditing (SA) 600, which governs how group audits are …
In a landmark ruling, the Andhra Pradesh High Court has reaffirmed the supremacy of Article 265 of the Constitution of India, declaring that the limitation period prescribed under the GST laws does not apply to refunds of amounts collected without authority of law. The Court, in Nspira …
A charitable trust filed its return of income claiming exemption under Sections 11 and 12 of the Income-tax Act, 1961. The Assessing Officer (AO) denied the exemption on the technical ground that the trust’s audit report in Form 10B was not submitted along with …
In a significant step towards further digitization and ease of doing business, the Central Board of Indirect Taxes and Customs (CBIC) has notified the Central Goods and Services Tax (Fourth Amendment) Rules, 2025 through Notification No. 18/2025 – Central Tax, dated 31 October 2025. These amendments, …
In yet another significant move against corruption within the tax administration system, the Central Bureau of Investigation (CBI) has booked an Assistant Commissioner of CGST, Jaipur, on charges of accumulating wealth far beyond his known sources of income. The development has once again …
In a significant ruling, the Delhi ITAT has quashed a reassessment initiated under Section 148 of the Income-tax Act after finding that approval under Section 151 was granted by the Commissioner instead of the Joint Commissioner — the competent authority …
In a significant development for the Indian judiciary, Justice Surya Kant has been formally appointed as the next Chief Justice of India (CJI). The announcement was made by Union Law and Justice Minister Arjun Ram Meghwal, who confirmed that President Droupadi Murmu has exercised her …
In a significant relief to a retired government employee, the Income Tax Appellate Tribunal (ITAT), Cochin Bench, quashed a penalty imposed for “misreporting of income” under Section 270A(9) of the Income-tax Act, 1961. The Tribunal held that a bona fide and fully disclosed claim …
New Delhi, October 29, 2025 — In a major relief to taxpayers and professionals, the Central Board of Direct Taxes (CBDT) has announced an extension of the due dates for filing Income Tax Returns (ITR) and Tax Audit Reports for the Assessment Year 2025-26 under …
As the due date of 31 October 2025 approaches, thousands of businesses and professionals under audit are anxiously waiting for clarity from the Central Board of Direct Taxes (CBDT). The big question — will the government extend the ITR filing deadline for audit …
In a landmark judgment dated October 28, 2025, the Supreme Court upheld the Gujarat High Court’s ruling allowing a refund of unutilized Input Tax Credit (ITC) of GST Compensation Cess. Background The assessee was engaged in the export of manufactured goods. The inputs used in …
Every audit season brings a familiar question to every CA’s desk — “How many balance sheets can a Chartered Accountant sign?” For Assessment Year 2025–26 (FY 2024–25), the professional limits under the Income Tax Act and the Companies Act, 2013 remain unchanged. However, their practical …
In a significant ruling under the Goods and Services Tax (GST) law, the Gujarat High Court granted bail to a taxpayer accused under the Central Goods and Services Tax Act, 2017. The case, reported as 2025 (10) TMI 1069 – …
In a landmark ruling that could reshape India’s digital-asset landscape, the Madras High Court has held that cryptocurrency qualifies as a form of “intangible property” under Indian law. The decision, delivered by Justice N. Anand Venkatesh, aligns India with global judicial thinking in jurisdictions such …
In a significant move towards enhancing India’s business environment, the government is preparing to amend the Companies Act during the upcoming Winter Session of Parliament. The proposed changes aim to make corporate operations more seamless, digital, and globally competitive — aligning India’s regulatory …
Supreme Court to decide if assigning leasehold rights amounts to land transfer or taxable GST supply. Court To Clarify Key Question On Leasehold Transfers In a matter with far-reaching implications for real estate and taxation, the Supreme Court of India has agreed …
In a major step towards easing compliance and boosting business confidence, Finance Minister Nirmala Sitharaman announced the launch of a simplified GST registration system under GST 2.0, effective November 1, 2025. The new framework will enable automatic approval of GST registration within three working days for most new …