Income tax action required by 31st December 2025 : NEW INCOME TAX NOTICE Income tax action required SANJAU XXXXX (XXXXXXXXXX) by 31st December. Data has been shared by foreign jurisdiction(s) showing that you held/earned foreign assets/income during Calendar Year 2024. However, Schedule Foreign Assets was not included in your ITR for AY 2025-26. … Read More »
Supreme Court to Decide: Can GST Circulars Override Statutory Ban on Parallel Proceedings? Supreme Court Stays High Court Order The Supreme Court has stayed the operation of the Bombay High Court’s judgment in the case of Sree UGCL Projects Ltd. v. Additional Director (DG GST Intelligence). The Court issued a notice to the Revenue Department… Read More »
CA Exonerated: No Prosecution for Form 15CB Certificates Issued on Unknowingly Forged Documents Supreme Court Upholds Discharge The Hon’ble Supreme Court, in the case of The Deputy Director V. Murali Krishna Chakrala, upheld the Madras High Court’s judgment discharging a Chartered Accountant from prosecution under the Prevention of Money Laundering Act (PMLA). The Court confirmed… Read More »
Migration of UDIN Portal to ICAI DigiCA Platform UDIN Directorate The Institute of Chartered Accountants of India 10th Dec 2025 The members are hereby informed that the Institute of Chartered Accountants of India (ICAI) is contemplating migration of the existing UDIN Portal to the ICAI DigiCA Platform on 20th December 2025. The upgraded system will provide improved… Read More »
Notification u/s 10(46) of the Income Tax Act, 1961 in the case of New Okhla Industrial Development Authority MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 15th December, 2025 S.O. 5779(E).— In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961… Read More »
Notification u/s 120(2)(1) of the Income Tax Act, 1961 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 15th December, 2025 INCOME-TAX S.O. 5799(E).—In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), and in continuation to… Read More »
Notification u/s 10(46A) of the Income Tax Act, 1961 Punjab Urban Planning And Development Authority MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 15th December, 2025 S.O. 5778(E).— In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the Income-tax Act, 1961… Read More »
IMPORTANT INCOME TAX CASE LAWS 16.12.25 Act Section Case Law Title / Press Release Brief Summary Citation / Source Income-tax Act, 1961 Press Release (Compliance) CBDT Nudges Against Bogus Deduction Claims The CBDT launched a “Nudge Campaign” on 12-12-2025 targeting intermediaries and taxpayers filing ITRs for AY 2025-26 with bogus deductions (primarily fake donations to… Read More »
IMPORTANT GST CASE LAWS 16.12.25 Relevant Act Section Case Law Title Brief Summary Citation Central GST Act, 2017 Section 67 (Search & Seizure) Korfex Industries (P.) Ltd. v. State of Rajasthan Writ relief for release of detained goods was denied as the investigation revealed collusion to defraud revenue via fake ITC. Equitable jurisdiction under Article… Read More »
CONFLICT ON CONVERSION OF ARREST WARRANTS IN ECONOMIC OFFENCES: MATTER REFERRED TO LARGER BENCH ISSUE Whether an accused charged with serious economic offences (such as Input Tax Credit fraud under GST) can claim the conversion of non-bailable arrest warrants into bailable warrants as a matter of right, or if the gravity of economic offences precludes… Read More »