Chartered Accountants and legal experts seek relief for procedural lapses under Registrar of Firms regulations In a significant move aimed at supporting the ease of doing business in Maharashtra, a group of chartered accountants and legal professionals—operating under the BJP …
In a significant tax ruling, the Chhattisgarh High Court has held that a bona fide belief combined with the genuineness of a transaction constitutes a valid “reasonable cause” under Section 273B of the Income Tax Act, 1961, thereby preventing the …
In recent times, a disturbing trend has emerged across India — individuals with no involvement in business or taxation are receiving hefty GST notices. From daily wage workers to Non-Resident Indians (NRIs), many innocent citizens are being dragged into legal …
As the Income Tax Return (ITR) filing season for Assessment Year (AY) 2025-26 approaches, taxpayers across India are gearing up to gather essential documents like salary slips, bank interest certificates, Form 16, dividend statements, and other income-related records. While timely …
To file a money recovery suit, you’ll need evidence demonstrating the debt and the obligation to repay. This can include contracts, receipts, bank statements, or any other document proving the money was lent or owed. Essentially, you need to establish that the …
In a significant move to enhance transparency and accountability in the indirect taxation system, the Central Board of Indirect Taxes and Customs (CBIC) has issued a strong directive to all Goods and Services Tax (GST) field formations across India. This …
The Securities and Exchange Board of India (SEBI), India’s capital markets regulator, has proposed a significant amendment to its IPO framework, aiming to strengthen transparency and reduce risks associated with physical shareholdings. In a recent consultation paper, SEBI suggested that …
In a significant ruling, the Delhi High Court has dismissed the writ petition filed by Vijay and Company, thereby confirming the ₹35 lakh GST liability imposed under Section 73 of the CGST/DGST Act. The court rejected the plea to quash the adjudication order, …
In a significant judgment reinforcing procedural compliance under GST laws, the Allahabad High Court has quashed the assessment and subsequent appellate orders against M/S Xestion Advisor Private Limited, a management consultancy firm, due to the failure of tax authorities to issue a mandatory notice …
The Central Government informed the Supreme Court that it does not differentiate between games of skill and games of chance when it comes to the application of Goods and Services Tax (GST) on online gaming. According to the Centre, all …
In a significant ruling, the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Delhi, has clarified that the over-the-counter sale of food and beverages within cinema complexes does not attract service tax. The tribunal emphasized that such transactions are primarily …
In a significant judgment, the Supreme Court of India has reaffirmed that granting bail is the norm, even in cases involving alleged offences under Section 132 of the Central Goods and Services Tax (CGST) Act, 2017, unless there are extraordinary circumstances justifying denial. The …
In a significant judgment, the Himachal Pradesh High Court has ruled that workers engaged under the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA), 2005, are not covered under the Employees’ Compensation Act, 1923. This decision affirms that such workers …
The Central Board of Direct Taxes (CBDT) has officially notified the Income Tax Return (ITR) Form 2 for the Assessment Year 2025-26. This form applies to individuals and Hindu Undivided Families (HUFs) who do not earn income from business or profession. However, …
On May 2, 2025, the Supreme Court of India delivered a landmark judgment in the Bhushan Power and Steel Limited (BPSL) insolvency case, significantly redefining the scope and application of the Insolvency and Bankruptcy Code (IBC), 2016. By overturning the 2020 ruling of …
In a significant ruling, the Gujarat Authority for Advance Ruling (AAR) has held that Input Tax Credit (ITC) is not admissible on expenses incurred for the buyback of shares. This decision was delivered in the case of M/s. Gujarat Narmada Valley Fertilizers …
A summary suit for recovery of money is a legal action filed in court to recover a debt, often used when the defendant’s liability is clear and undisputed. It’s a streamlined process aimed at faster resolution compared to a regular civil …
To determine the appropriate jurisdiction for a money recovery suit, consider both territorial and pecuniary factors. Territorially, the suit can be filed where the defendant resides, carries on business, or where the cause of action arose. Pecuniary jurisdiction depends on the value …
Cheque Bounce New Rules 2025: Stricter Penalties, Faster Complaint Filing & Key Changes You Must Know Starting April 1, 2025, the Government of India has introduced significant amendments to the Negotiable Instruments Act, tightening rules around cheque bounce cases. These updates aim to …
The Supreme Court of India is set to commence final hearings on May 5, 2025, in the high-stakes Goods and Services Tax (GST) dispute concerning the online gaming industry. The outcome of this landmark case could significantly shape the regulatory …