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New Income Tax Bill          Finance Act, 2025 [+Budget] 

Highlights Highlights, Income Tax, GST, Import Eport and Corporate Laws

GST Registration License Cancellation Overturned Due to Procedural Gaps in Verification Process Under Rule 25
April 29, 2025   Case Laws     GST

Service Tax Calculation Upheld: 85% Goods, 15% Services Valuation Method Validated by Judicial Review
April 29, 2025   Case Laws     Service Tax

CENVAT Credit Dispute: Manufacturer Wins Proportional Credit Reversal Under Rule 6(3A)(b) with Proper Input Service Allocation
April 29, 2025   Case Laws     Service Tax

Public Servant Protected: Criminal Conspiracy Charge Quashed When Prosecution Sanction Denied Under Prevention of Corruption Act
April 29, 2025   Case Laws     Indian Laws

Foreign Exchange Regulation Act Interpretation: Non-Indian Citizen's Residential Status Challenged Under Section 8(1)
April 29, 2025   Case Laws     FEMA

Tribunal's Discretionary Power Under Section 19(1) Upheld: Penalty Reduction Validated Without Judicial Interference
April 29, 2025   Case Laws     FEMA

Guarantor's Strategic Delay Tactics Backfire as Insolvency Petition Rejected Under Section 94 Debt Recovery Challenge
April 29, 2025   Case Laws     IBC

Seized Search Materials Trigger Section 153C: Invalidating Alternate Assessment Pathways for Unsearched Entities
April 29, 2025   Case Laws     Income Tax

Legal Powers Affirmed: Special Bench Can Continue Hearing Despite Parallel High Court Proceedings Under Sections 253 and 255(3)
April 29, 2025   Case Laws     Income Tax

Taxpayers Barred from Challenging Tax Notice and Assessment After Participating in Proceedings Without Prior Objections
April 29, 2025   Case Laws     Income Tax

Taxpayer Wins Appeal: Cash Loan Repayment Deemed Legitimate Under Section 273B, Penalty Overturned
April 29, 2025   Case Laws     Income Tax

HC Rejects Income Tax Officer's Contradictory Affidavit, Demands Explanation for Procedural Inconsistencies
April 29, 2025   Case Laws     Income Tax

Tax Expenses Dispute: Arbitrary 25% Disallowance Rejected Due to Lack of Rational Justification and Proper Evidence Evaluation
April 29, 2025   Case Laws     Income Tax

Tribunal Finds No Duty Evasion in Related Party Transaction, Validates Valuation Methodology and Dismisses Revenue Claim
April 29, 2025   Case Laws     Central Excise

Eviction Notice Under Section 8(4) of PMLA Upheld, Technical Non-Compliance Does Not Invalidate Legal Proceedings
April 29, 2025   Case Laws     Money Laundering

Customs Valuation: Tribunal Upholds Transaction Value Integrity by Rejecting Arbitrary Price Truncation Under Rule 4
April 29, 2025   Case Laws     Customs

High Court Rejects Writ Petition over Territorial Jurisdiction Limits in Customs Seizure Case Under Article 226(2)
April 29, 2025   Case Laws     Customs

Income Tax Tribunal Upholds Trust's Exemption, Rejects Revisional Order Under Section 263 After Comprehensive Assessment Review
April 29, 2025   Case Laws     Income Tax

Tax Appeal Dismissed Ex Parte: ITAT Quashes Order, Mandates Fresh Hearing with Comprehensive Merits Review Under Section 250(6)
April 29, 2025   Case Laws     Income Tax

Investor Wins Tax Appeal: Long-Term Capital Gains Exemption Upheld, No Procedural Defects Justify Revisional Order Under Section 263
April 29, 2025   Case Laws     Income Tax

ITAT Grants Relief in Transfer Pricing and Tax Deduction Case, Validates Comparables Exclusion and CSR Donation Claim
April 29, 2025   Case Laws     Income Tax

Strict Time Limits Trump Technical Excuses: Commercial Appeals Demand Punctual Filing Under Section 5 Limitation Act
April 29, 2025   Case Laws     Indian Laws

Supreme Court Halts Criminal Case Against Manager Not Involved in Original Transaction Under Section 482 CrPC
April 29, 2025   Case Laws     Indian Laws

Landmark GST Cancellation Ruling: Procedural Fairness Prevails, Order Quashed for Lack of Substantive Reasoning
April 29, 2025   Case Laws     GST

Investor's Rs. 30 Crore Claim Rejected: Principal Admitted, Interest Denied Due to Incomplete Security Documentation
April 29, 2025   Case Laws     IBC

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Reforming Long-Term Capital Gains Taxation : Clause 197 of the Income Tax Bill, 2025 Vs. Section 112 of the Income-tax Act, 1961
taxation of short-term capital gains (STCG) : Clause 196 of the Income Tax Bill, 2025 Vs. Section 111A of the Income-tax Act, 1961
Determination of tax liability which no tax is payable under the provisions of the Act : Clause 190 of the Income Tax Bill, 2025 Vs. Section 110 of the Income-tax Act, 1961
Definition for the operation of the General Anti-Avoidance Rule (GAAR) : Clause 184 of Income Tax Bill, 2025 Vs. Section 102 of Income-tax Act, 1961
Legislative tool curbing aggressive tax planning and abusive tax avoidance Scheme : Clause 183 of the Income Tax Bill, 2025 Vs. Section 101 of the Income-tax Act, 1961
Procedural Safeguards and the Scope of GAAR : Clause 183 of Income Tax Bill, 2025 Vs. Section 100 of Income-tax Act, 1961
Curbing aggressive tax avoidance strategies : Clause 182 of the Income Tax Bill, 2025 Vs. Section 99 of the Income-tax Act, 1961
Continuation and refinement of the General Anti-Avoidance Rule : Clause 181 of the Income Tax Bill, 2025 Vs. Section 98 of the Income-tax Act, 1961
Statutory backbone of India's General Anti-Avoidance Rule (GAAR) : 180 of the Income Tax Bill, 2025 Vs. Section 97 of the Income-tax Act, 1961
"Curbing aggressive tax avoidance strategies" under the General Anti-Avoidance Rule (GAAR) : Clause 179 of the Income Tax Bill, 2025 Vs. Section 96 of the Income-tax Act, 1961
Countering the tax avoidance through codification of the General Anti-Avoidance Rule (GAAR) : Clause 178 of the Income Tax bill, 2025 Vs. Section 95 of the Income Tax Act, 1961
limitation on Debt interest deduction as expenses in cross-border transactions : Clause 177 of Income Tax Bill, 2025 Vs. Section 94B of Income-tax Act, 1961
Comprehensive framework for dealing with transactions with any notified jurisdictional areas : Clause 176 of the Income Tax Bill, 2025 Vs. Section 94A of the Income Tax Act, 1961
Anti-Avoidance Provisions in Securities Transactions : Clause 175 of the Income Tax Bill, 2025 Vs. Section 94 of the Income-tax Act, 1961
Designed provisions to counteract tax avoidance schemes involving cross-border transactions : Clause 174 of the Income Tax Bill, 2025 Vs. Section 93 of the Income-tax Act, 1961
Important Definition within the framework of transfer pricing and anti-avoidance measures : Clause 173 of Income Tax Bill, 2025 Vs. Section 92F of Income-tax Act, 1961
Statutory Reporting & Penalties for persons entering into international and specified domestic transactions : Clause 172 of the Income Tax Bill, 2025 Vs. Section 92E of the Income-tax Act, 1961
Revamped framework of the Transfer Pricing documentation & Penalties : Clause 171 of the Income Tax Bill, 2025 Vs. Section 92D of the Income-tax Act, 1961
Harmonizing India's Secondary Adjustment Regime in Transfer Pricing : Clause 170 of the Income Tax Bill, 2025 Vs. Section 92CE of the Income-tax Act, 1961
Streamlining APA Implementation and Transfer Pricing Compliance : Clause 169 of Income Tax Bill, 2025 and Section 92CD of Income-tax Act, 1961
Enhancing Certainty and Compliance in Transfer Pricing through Advance Pricing Agreements : Clause 168 of the Income Tax Bill, 2025 Vs. Section 92CC of the Income-tax Act, 1961
Special provisions concerning the avoidance of tax, specifically empowering to Board to make "safe harbour" rules : Clause 167 of the Income Tax Bill, 2025 Vs. Section 92CB of the Income-tax Act, 1961
Role of the Transfer Pricing Officer in Ensuring Arm s Length Compliance : Clause 166 of the Income Tax Bill, 2025 Vs. Section 92CA of the Income-tax Act, 1961
Reframing Arm's Length Pricing in India's Evolving Transfer Pricing Regime : Clause 165 of the Income Tax Bill, 2025 Vs. Section 92C of the Income-tax Act, 1961
Meaning of Specified Domestic Transactions under Clause 164 of Income Tax Bill, 2025 Vs. Section 92BA of Income-tax Act, 1961

More Notes

Notifications Notifications

Cus (NT)

- Appointment of Common Adjudicating Authority for the purpose of finalization of Provisional Assessment in SVB case w.r.t. M/s Murrplastik India Private Limited
April 28, 2025

Cus

- Seeks to amend List 34A and 34B of the Notification No. 50/2017-Customs dated 30.06.2017
April 28, 2025

PMLA

- Amendment in Notification No. G.S.R. 381(E), dated the 27th June, 2006 - Sharing of information under PMLA by the Director, Financial Intelligence Unit, India
April 25, 2025

CGST

- Goods and Services Tax Appellate Tribunal (Procedure) Rules, 2025
April 24, 2025

IT

- Exemption from specified income U/s 10(46) of IT Act 1961 - 'Mysore Palace Board'
April 24, 2025

Cus (NT)

- Goods Imported (Conditions of Transshipment) Regulations, 2025
April 24, 2025

Cus (NT)

- Delegation of Adjudication Powers under the Customs Act, 1962 Appointment of Officers in Place of Commissioner of Customs, Nhava Sheva V, Mumbai Customs Zone II for the purpose of adjudicating the notices issued to the persons specified in the notification.
April 24, 2025

IT

- The Central Government notifies that no deduction shall be allowed for any expenditure incurred in settling proceedings initiated in connection with any contravention or default.
April 23, 2025

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
April 23, 2025

FTP

- Amendment in Import Policy Condition of Synthetic Knitted Fabrics Covered under Chapter 60 of the ITC (HS), 2022
April 23, 2025

SEBI

- Securities and Exchange Board of India (Credit Rating Agencies) (Second Amendment) Regulations, 2025
April 22, 2025

SEBI

- Securities and Exchange Board of India (Real Estate Investment Trusts) (Amendment) Regulations, 2025
April 22, 2025

IT

- Exemption from specified income U/s 10(46A) of IT Act 1961 National Mission for Clean Ganga
April 22, 2025

IT

- Central Government notifies the goods of the value exceeding ten lakh rupees for collection of tax at source (TCS) - Liability of seller to collect TCS at time of receipt against sale
April 22, 2025

IT

- Income-tax (Eleventh Amendment) Rules, 2025 - 27EQ Quarterly statement of Tax Collection at Source under section 206C
April 22, 2025

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

SEBI

- Timelines for collection of Margins other than Upfront Margins Alignment to settlement cycle
April 28, 2025

Customs

- Closing of the Integrated Check Post Attari for all types of incoming and outgoing passengers and movement of goods
April 26, 2025

Customs

- Requirement of CITES Export permit or CITES Reexport certificate for agarwood products
April 25, 2025

Customs

- Simplification of procedures related to Air Cargo Movement & Transhipment
April 25, 2025

FEMA

- Amendments to Directions - Compounding of Contraventions under FEMA, 1999
April 24, 2025

DGFT

- Fixation of one new Standard Input Output Norms (SIONs) at SION A-3685 under 'Chemical and Allied Product' (Product Code 'A').
April 24, 2025

DGFT

- Inputs on Amendments for Export of SCOMET Items for 'Testing and Evaluation' purposes
April 23, 2025

FEMA

- Exports through warehouses in Bharat Mart in UAE relaxations
April 23, 2025

SEBI

- Change in cut-off timings to determine applicable NAV with respect to repurchase/ redemption of units in overnight schemes of Mutual Funds
April 22, 2025

FEMA

- Master Directions - Compounding of Contraventions under FEMA, 1999 (Updated as on April 24, 2025)
April 22, 2025

FEMA

- Amendments to Directions - Compounding of Contraventions under FEMA, 1999
April 22, 2025

DGFT

- Introduction of Mode of Export of Services Field in eBRC Format for Services Exports with effect from May 01, 2025.
April 21, 2025

SEBI

- Trading Window closure period under Clause 4 of Schedule B read with Regulation 9 of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 ( PIT Regulations ) Extension of automated implementation of trading window closure to Immediate Relatives of Designated Persons, on account of declaration of financial results.
April 21, 2025

Customs

- Recognition of National Food & Feed Reference Laboratory (NFFRL), Kathmandu, Nepal
April 21, 2025

Customs

- Amendment to guidelines issued vide Circular No. 38/2020 dated 21.08.2020.
April 21, 2025

More Circulars

News News, PIB

ED attaches fresh Rs 193-cr worth assets in Goa land grab-linked PMLA case
April 29, 2025


Commerce Secretary Shri Sunil Barthwal Visits Netherlands to Strengthen Bilateral Trade and Economic Partnership
April 29, 2025


Commerce Secretary Shri Sunil Barthwal Engages with Croatian Counterparts to Strengthen Bilateral Economic Cooperation
April 29, 2025


National Mission for Clean Ganga gets tax exemption status
April 29, 2025


RBI ask banks to ensure ATMs dispense Rs 100, Rs 200 notes
April 28, 2025


Auction for Sale (re-issue) of (i) 6.64% Government Security 2027 and (ii) New Government Security 2035
April 28, 2025


India and Bhutan hold 6th Joint Group of Customs (JGC) Meeting in Thimphu, Bhutan, on 24th-25th April 2025
April 28, 2025


Building a robust ecosystem for Green and Sustainable Finance in India (Valedictory address delivered by Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India - April 17, 2025 - at Credit Summit 2025 organised by the Bharat Climate Forum at New Delhi)
April 28, 2025


With China and US at intense economic odds, nations are being forced to choose sides
April 28, 2025


India: A partner in progress and prosperity (Keynote Address by Shri Sanjay Malhotra, Governor, Reserve Bank of India - April 25, 2025 - at the US-India Economic Forum organised by the Confederation of Indian Industry (CII) and US India Strategic Partnership Forum (USISPF), Washington DC)
April 28, 2025


Prime Minister Shri Narendra Modi addresses participants during 15th tranche of Rozgar Mela held simultaneously at 47 locations nationwide through Video Conferencing
April 28, 2025


APEDA and the Government of Odisha organises Capacity Building Programme to Boost Agricultural Exports from Odisha in Bhubaneswar
April 28, 2025


India Led with Compassion During COVID-19, Sharing 300 Million Vaccines Globally: Union Minister of Commerce & Industry Shri Piyush Goyal
April 28, 2025


BJP MP Hema Malini demands special economic package for better infra in Mathura
April 27, 2025


Compelling need for ending tax terrorism, brazen corporate favouritism: Cong on World Bank report
April 27, 2025


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Jiva Seva is Shiva Seva:
Service to humanity is Service to God

May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

- Swami Vivekananda, CW, 5:137

 

 

 

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