ITAT Pune Restores Cash Deposit Case to AO
Sonu Goma Bhangale Vs ITO (ITAT Pune) Assessee, an individual, did not file return for AY 2010-11. Based on cash deposits of Rs.42,64,155/- in Godavari Laxmi Co-op Bank, notice u/s…
Role of Education and Skill Development in Prisoner Rehabilitation
Introduction Prisons are often viewed as places of punishment, isolation, and correction. However, the true purpose of imprisonment goes beyond mere confinement — it aims to transform offenders into responsible…
Excess Stock Proceedings Must Be Under GST Sections 73/74, Not Section 130: Allahabad HC
Tru Sound Pvt Ltd Vs State of Uttar Pradesh And 2 Others (Allahabad High Court) In the case of Tru Sound Pvt Ltd Vs State of Uttar Pradesh & Others, the Allahabad…
CA Association Requests Income Tax Deadline Extensions from FM
The Chartered Accountants Association of Jalandhar has submitted a representation to the Honorable Finance Minister, requesting extensions for several key tax compliance deadlines. The request is based on two primary…
Section 234B Interest Cannot Extend Beyond Self-assessment Tax Payment
Vimal Sureshbhai Mishra Vs Central Processing Unit (ITAT Ahmedabad) Brief Facts The assessee filed an updated return of income under section 139(8A) on 03.04.2023, declaring total income of ₹20,47,420. On…
SC Upholds GST Exemption on license fees collected by Electricity Regulatory Commissions
Additional Director Directorate General of GST Intelligence (DGGI) & Anr. Vs Central Electricity Regulatory Commission (Supreme Court of India) SC dismisses SLP against Delhi HC ruling that GST is not…
RBI Drafts Rules for EDPMS Shipping Bill Closure
The Reserve Bank of India (RBI) has issued a Draft Master Direction for feedback concerning the closure of shipping bills within the Export Data Processing and Monitoring System (EDPMS). Introduced…
Does Board Size Make or Break Corporate Performance? A Deep Dive into the Contradictory Evidence
Brief The article seeks to examine the contradictory evidence on whether board size enhances or hinders corporate performance, concluding that while larger boards can improve monitoring and bring diverse expertise,…
Income Tax Refund cannot be denied for Minor Return Error: Gujarat HC
Ujala Dyeing And Printing Mills Private Limited Vs DCIT (Gujarat High Court) The Gujarat High Court addressed a case where Ujala Dyeing And Printing Mills Private Limited inadvertently made an…
Summary of Draft RBI (Co-Lending Arrangements) Directions, 2025
Summary of the Draft Reserve Bank of India (Co-Lending Arrangements) Directions, 2025 issued by Reserve Bank of India on April 09, 2025: The regulated entities (REs) enter into several co-lending…