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

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

Tax Refund Dispute: Unjustified Adjustment Overturned, Petitioner Wins Right to Recover Erroneously Withheld Funds
April 23, 2025   Case Laws     Income Tax

Tax Appeal Allowed Beyond Limitation Period: Exceptional Relief Granted Based on Delayed Knowledge and Statutory Compliance
April 23, 2025   Case Laws     GST

Retrospective Penalty Under Section 122(1A) Challenged: Legal Challenge Highlights Potential Procedural Irregularity in Statutory Application
April 23, 2025   Case Laws     GST

High Court Quashes GST Registration Cancellation Order for Deceased Taxpayer's Heir Due to Lack of Substantive Evidence
April 23, 2025   Case Laws     GST

Judicial Intervention Halts Tax Penalty Enforcement, Mandates Goods Release and Security Compliance Under Section 112
April 23, 2025   Case Laws     GST

Landmark CGST Act Amendment: Interim Deposit Reduced from 20% to 10% Under Finance Act, 2024 Provisions
April 23, 2025   Case Laws     GST

Corporate Insolvency Resolution Plan Bars Pre-Approval Tax Proceedings, Extinguishing Dues and Preventing New Recovery Attempts Under Section 31(1)
April 23, 2025   Case Laws     GST

Input Tax Credit Restoration: Assessees Granted Portal Access to File or Revise TRAN-1 Forms Under Recent Directive
April 23, 2025   Case Laws     GST

High Court Finds Tax Penalty Unwarranted: Genuine Mistake, Procedural Defects Invalidate Section 271(1)(c) Proceedings
April 23, 2025   Case Laws     Income Tax

Trust Classified as AOP, Interest Payments Disallowed Under Section 40(b) Based on Voluntary Fund Pooling and Profit Intent
April 23, 2025   Case Laws     Income Tax

High Court Validates Tax Assessment File Transfer Under Section 127, Prioritizing Centralized Investigation and Public Interest
April 23, 2025   Case Laws     Income Tax

Reassessment Notice Invalidated: Limitation Periods Exceeded, Section 148 Notice Quashed After Detailed Statutory Analysis
April 23, 2025   Case Laws     Income Tax

Tribunal Orders Comprehensive Review of Unsecured Loans, Highlighting Inadequate Assessment under Section 263
April 23, 2025   Case Laws     Income Tax

Loan Against Fixed Deposit Not Business Income; Tribunal Upholds Assessee's Appeal Under Section 44AD
April 23, 2025   Case Laws     Income Tax

Subscription Scheme "Kuber Dhanvarsha" Deemed Fraudulent, Deposits Treated as Taxable Income Under Section 28
April 23, 2025   Case Laws     Income Tax

Demonetization Cash Deposits Scrutinized: Tax Tribunal Partially Upholds Assessments Under Sections 69A, 36(1)(vii), and 115BBE
April 23, 2025   Case Laws     Income Tax

Taxpayer Wins Capital Gains Tax Exemption Under Section 54, Proving Flexible Interpretation of Investment Rules for Residential Property
April 23, 2025   Case Laws     Income Tax

Legal Battle: Mandatory Prior Approval Invalidates Tax Reassessment Notice Under Section 147, Blocking Revenue's Claim of Bogus Transactions
April 23, 2025   Case Laws     Income Tax

Tax Regime Flexibility: Assessee Can Switch Back to Old Taxation Framework After Initially Choosing New Regime Under Section 115BAC
April 23, 2025   Case Laws     Income Tax

Cooperative Credit Society Wins Partial Tax Appeal, Challenges Resolved Under Sections 68, 40A(3), and 80P
April 23, 2025   Case Laws     Income Tax

Income Tax Appeals Resolved: Assessee Wins Major Victories with Substantial Deductions Under Section 68 and Precedential Principles
April 23, 2025   Case Laws     Income Tax

Software License Documentation Classified Separately from Hardware, Shifting Customs Duty Treatment Under Specific Tariff Provisions
April 23, 2025   Case Laws     Customs

Corporate Debt Resolution: Guarantor's Appeal Rejected, Liability Confirmed Under Insolvency Code Provisions
April 23, 2025   Case Laws     IBC

Share Attachment Upheld: Bribe Money Routed Through Equity Transactions Confirms Money Laundering Under PMLA Section 3
April 23, 2025   Case Laws     Money Laundering

Taxpayer Wins: Legacy Dispute Resolution Scheme Payment Validated Despite Accounting Technicality Under Section 127(5)
April 23, 2025   Case Laws     Service Tax

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Remuneration and interest received by an individual partner from a partnership firm can be subjected to the presumptive taxation Under Section 44AD?
Meaning of Associates Enterprise under Clause 162 of the Income Tax Bill, 2025 Vs. Section 92A of the Income-tax Act, 1961
Computation of income arising from international transactions and specified domestic transactions : Clause 161 of the Income Tax Bill, 2025 vs. Section 92 of the Income-tax Act, 1961
Future of Unilateral Agreement relief in India : Clause 160 of the Income Tax Bill, 2025 Vs. Section 91 of the Income-tax Act, 1961
Streamlining Double Taxation Relief and International Tax Agreements : Clause 159 of Income Tax Bill, 2025 Vs. Section 90A of Income Tax Act, 1961
Comprehensive Reform in International Taxation and Treaty Implementation : Clause 159 of Income Tax Bill, 2025 Vs. Section 90 of Income-tax Act, 1961
Addressing Cross-Border Taxation of Foreign Retirement Benefits : Clause 158 of Income Tax Bill, 2025 Vs. Section 89A of Income Tax Act, 1961
Continuity and Reform in Tax Relief for Irregular Income : Clause 157 of the Income Tax Bill, 2025 Vs. Section 89 of the Income Tax Act, 1961
Constitutional Limits on GST: Principle of mutuality insulates transactions between clubs/associations and their members
Relief to resident individual taxpayers with lower and middle incomes by reducing their effective tax liability : Clause 156 of the Income Tax Bill, 2025 Vs Section 87A of the Income Tax Act, 1961
The Structure and Implications of Income Tax Rebates : Clause 155 of the Income Tax Bill, 2025 Vs. Section 87 of the Income-tax Act, 1961.
Analyzing the Tax Treatment of Collective Entities under Clause 310 of Income Tax Bill, 2025 Vs. Section 86 of Income-tax Act, 1961
Tax Deductions for Persons with Disabilities : Clause 154 of the Income Tax Bill, 2025 vs. Section 80U of the Income Tax Act, 1961
Statutory deduction for interest income derived from deposits : Clause 153 of the Income Tax Bill, 2025 Vs. Section 80TTA of the Income-tax Act, 1961
Patent Royalty Deduction Scheme to Boost Innovation and R&D in India : Clause 152 of the Income Tax Bill, 2025 Vs. Section 80RRB of the Income-tax Act, 1961
Incentivize and support authors by providing a tax deduction on royalty and copyright income : Clause 151 of the Income Tax Bill, 2025 Vs. Section 80QQA of the Income-tax Act, 1961
Tax Incentives for Strengthening Agricultural Producer Companies : Clause 150 of Income Tax Bill, 2025 Vs. Section 80PA of the Income-tax Act, 1961
A Contemporary Recasting of Section 80P for Strengthening the Co-operative Sector : Clause 149 of the Income Tax Bill, 2025 Vs. Section 80P of the Income-tax Act, 1961
Preventing Double Taxation of Corporate Dividends : Clause 148 of the Income Tax Bill, 2025 Vs. Section 80M of the Income-tax Act, 1961
Future of Tax Incentives for Offshore Banking and IFSCs : Clause 147 of the Income Tax Bill, 2025 vs. Section 80LA of the Income Tx Act, 1961
Continuing the legislative policy of incentivizing employment generation : Clause 146 of Income Tax Bill, 2025 vs. Section 80JJAA of Income Tax Act, 1961
Tax Incentives for Bio-Degradable Waste Management in India : Clause 145 of the Income Tax Bill, 2025 Vs. Section 80JJA of the Income-tax Act, 1961
Tax Incentives for reginal development in the North-Eastern States of India : Clause 143 of Income Tax Bill, 2025 vs. Section 80IE of Income-tax Act, 1961
Transitional Tax Incentives for Affordable Housing : Clause 142 of Income Tax Bill, 2025 Vs. Section 80IBA of Income-tax Act, 1961
Grandfathering Industrial Undertaking Deductions : Clause 141 of Income tax Bill, 2025 vs. Section 80IB of the Income Tax Act, 1961

More Notes

Notifications Notifications

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

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
April 22, 2025

IT

- Income-tax (Eleventh Amendment) Rules, 2025
April 22, 2025

Safeguard

- Seeks to impose safeguard duty on Non-Alloy and Alloy Steel Flat Products
April 21, 2025

IT

- Zero Coupon Bond - Specified bond notified u/s 2(48) of the Income-tax Act, 1961
April 17, 2025

IT

- Central Government approves KIMS Foundation and Research Centre Hyderabad, under the category of University, college or other institution for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961
April 17, 2025

Cus (NT)

- Amendment in Notification No. 77/2023 Customs (N.T.), dated the 20th October, 2023 - All Industry Rates of Duty Drawback - Entries related to Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal
April 17, 2025

Cus (NT)

- Seeks to amend Notification No. 61/94-Customs (N.T.) dated the 21st November, 1994 - Customs airports Appointment for specified purposes
April 15, 2025

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
April 15, 2025

FTP

- Amendment in Import Policy Condition No. 07 (i) of Chapter - 27 of Schedule-I (Import Policy) of ITC (HS), 2022
April 15, 2025

IT

- Central Government notifies the last date of the Direct Tax Vivad se Vishwas Scheme, 2024, in respect of tax arrear shall be filed by the declarant to the designated authority.
April 8, 2025

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
April 8, 2025

CE (NT)

- Constitution of Interim Board for Settlement under Sec 31A of Central Excise Act, 1944
April 8, 2025

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

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

- 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

GST

- Instructions for processing of applications for GST registration
April 17, 2025

DGFT

- Amendment in Appendix 2K (Scale of User Charges and Process for Deposit/ Refund of Application Fee/Penalty, etc) of FTP 2023
April 15, 2025

DGFT

- Operationalisation of DGFT 'Global Tariff and Trade' Helpdesk
April 11, 2025

SEBI

- Specialized Investment Funds ('SIF') - Application and Investment Strategy Information Document (ISID) formats
April 11, 2025

Customs

- Reconfiguration of Trichy Zone Site (INKAR6) and rolling out of NTUT1 as master site and INTUT6 as child site for Tuticorin Customs Commissionerate on 14.04.2025 (Monday) -Reg.
April 11, 2025

SEBI

- Clarification on Regulatory framework for Specialized Investment Funds ( SIF )
April 9, 2025

SEBI

- Amendment to Circular for mandating additional disclosures by FPIs that fulfil certain objective criteria
April 9, 2025

Customs

- Rescinding of JNCH PN No.101/2024 dated 22.11.2024 regarding Transhipment of movement of export cargo from Bangladesh to third Countries from Nhava Sheva Port by Rail or Road vide Circular No. 29/2020-Customs dated 22.06.2020-reg
April 9, 2025

More Circulars

News News, PIB

Inflation near RBI target, MPC opted for rate cut to push growth: Policy meeting minutes
April 23, 2025


Pahalgam attack aimed to derail peace, economic growth in Kashmir: Tripura CM
April 23, 2025


Rate cut will boost private consumption, investment, says RBI Governor
April 23, 2025


CCI approves proposed combination involving acquisition of 100% equity shareholding of the AAM India Manufacturing Corporation Private Limited by Bharat Forge Limited with voluntary modifications
April 23, 2025


CCI approves the (i) acquisition of certain equity shares of Bharti Axa Life Insurance Company Limited (BALIC/ Target) by 360 ONE Private Equity Fund, through its schemes or affiliates (360 Fund); and (ii) subscription of certain equity shares in the Target by Bharti Life Ventures Private Limited (BLVPL) and 360 Fund
April 23, 2025


CCI approves the proposed acquisition of the Target Business by Kandhari Global Beverages Private Limited
April 23, 2025


India: Fastest-Growing Major Economy
April 23, 2025


World Economic Forum board backs launch of independent probe into founder Klaus Schwab
April 23, 2025


Handbags, wrist watches, other luxury items above Rs 10 lakh to attract 1 pc TCS
April 23, 2025


DPIIT Secretary chairs PMG review of mega infrastructure projects in Uttar Pradesh, Haryana, Punjab and Uttarakhand
April 23, 2025


Luxury goods costing above Rs 10 lakh will now attract 1 pc TCS
April 23, 2025


QCI Celebrates Panchayati Raj Diwas for empowering villages for a Viksit Bharat
April 23, 2025


India hosts inaugural Capacity Building Programme for Central Asian Republics on combating terrorism financing
April 23, 2025


NEW PRIVATE SUBSCRIBERS UNDER NPS CROSS 12 LAKH DURING 2024-25
April 23, 2025


I-T department introduces 'e-Pay Tax' feature on portal
April 22, 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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