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The GST portal has introduced a new section, “Import of Goods,” in its IMS system. Moving forward, when a taxpayer files a Bill of Entry (BoE) for imported items, including those from Special Economic Zones (SEZs), the relevant information will be available in the system. This upgrade facilitates enhanced management and monitoring of all imported […]
The Ministry of Corporate Affairs (MCA), through the MCA V3 portal, has modernised its compliance system, proposing accessibility, transparency, and automation in company filings. It provides distinct features; the “My Application” section stands out as a centralised dashboard for tracking and handling all filed forms and transactions. Professionals can further streamline their MCA compliance process […]
The Kerala High Court ruled that Section 263 of the Income Tax Act, 1961, can be invoked where the Assessing Officer (AO) is not able to address the main issue in the assessment order. The bench stated that the problem does not appear to have been addressed by the assessing authority when issuing an order […]
The Mumbai ITAT restored the case to the AO, holding that denying the Section 10(25)(ii) exemption solely because the assessee used the wrong ITR form was only a procedural lapse. The taxpayer, Tata International Limited Provident Fund, whose income was waived u/s Section 10(25)(ii) of the Act, had filed its income return in Form ITR-7 […]
The Kerala High Court has issued an important interim order allowing retired Union Bank employees to renew their group health insurance policies without being required to pay the 18% Goods and Services Tax (GST) on the premium amount. This provides significant immediate relief to the pensioners. The Court issued the interim order in response to […]
The Finance Ministry is inviting companies and trade bodies to share their suggestions on possible changes to tax rates and measures to simplify tax compliance. These inputs will be considered for the Union Budget for FY 2026-27, which will be presented on February 1, 2026. In a customary communication to trade and industry associations ahead […]
On October 29, the Central Board of Direct Taxes (CBDT) extended the last date for filing the ITRs and audit reports for the AY 2025-26, given the relief to the taxpayers and professionals. The amended due dates for filing the audit reports and ITR are November 10 and December 10, respectively. The taxpayers, before the […]
The Delhi High Court, led by Justice Sachin Datta, has overturned a decision made by the Collector of Stamps that required Gurdev Raj Kumar to pay extra stamp duty and a penalty. The Court has instructed the authorities to return Rs 2,58,700 to him within six weeks. The case is of a residential lease deed […]
The Punjab and Haryana High Court has given a warning to the Central Board of Direct Taxes (CBDT) for not following the order of the High Court on October 13, 2025, which asked for an extension of the income tax return (ITR) filing due date for audited cases. The court said that the continued inaction […]
