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

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

Clubs and Associations Win: Retrospective Tax Amendments Struck Down, Mutuality Principle Preserved Under CGST and KGST Acts
April 18, 2025   Case Laws     GST

Bank Must Compensate Customer for Cyber Fraud Losses Due to Inadequate Security Protocols and Failure to Detect Suspicious Transactions
April 18, 2025   Case Laws     Indian Laws

Cheque Alteration Case: Expert Forensic Verification Ordered for Disputed Amount Modification Under Section 138
April 18, 2025   Case Laws     Indian Laws

Judicial Discretion Prevails: Witness Recall Petition Dismissed Under Section 311 Cr.PC Due to Procedural Abuse
April 18, 2025   Case Laws     Indian Laws

Supreme Court Upholds Bribery Conviction Based on Robust Evidence and Comprehensive Trial Court Findings
April 18, 2025   Case Laws     Indian Laws

Electronic Evidence Fails: Tax Authority's Case Crumbles Due to Procedural Gaps in Clandestine Manufacturing Dispute
April 18, 2025   Case Laws     Central Excise

Service Tax Dispute Resolved: Advances Exempt, Tax Leviable Only on Actual Invoiced Services Under Rule 6(3)
April 18, 2025   Case Laws     Service Tax

Foreign Currency Payments for Services Abroad Ruled Non-Taxable, Tribunal Dismisses Service Tax Claim on Procedural and Substantive Grounds
April 18, 2025   Case Laws     Service Tax

CESTAT Upholds Credit Reversal, Validates CA Certificates, and Rejects Department's Procedural Challenges in Tax Credit Dispute
April 18, 2025   Case Laws     Service Tax

Arbitral Award Triggers Procedural Scrutiny: NCLAT Remands Insolvency Petition for Proper Limitation and Formal Amendment Review
April 18, 2025   Case Laws     IBC

Income Tax Deduction Claim Upheld: ITAT Rejects Revenue's Appeal for Rectification Under Section 154
April 18, 2025   Case Laws     Income Tax

Transfer Pricing Dispute: Tribunal Rejects Comparators, Mandates Comprehensive Study on Interest Computation for Receivables
April 18, 2025   Case Laws     Income Tax

Reopening Tax Assessment Requires Concrete Evidence, Not Generic Reporting, Tribunal Strikes Down Arbitrary Reassessment Under Section 147
April 18, 2025   Case Laws     Income Tax

Income Tax Assessment: Tribunal Upholds Taxpayer's Claims, Rejects Revenue's Appeal on Multiple Procedural and Substantive Grounds
April 18, 2025   Case Laws     Income Tax

Customs Dispute Resolved: Procedural Delays Invalidate Show Cause Notice Under Section 28(6) of Customs Act
April 18, 2025   Case Laws     Customs

Customs Broker Wins Appeal: No Intentional Misconduct Found, Regulatory Violations Dismissed After Thorough Evidence Review
April 18, 2025   Case Laws     Customs

Corporate Property Transfer Dispute Rejected: Resolution Professional's Possession Upheld Under Insolvency Proceedings and Take Over Agreement
April 18, 2025   Case Laws     IBC

Tax Tribunal Allows Full Royalty Expense Deduction, Limits Repairs Expenditure to 10% Under Section 37 Criteria
April 18, 2025   Case Laws     Income Tax

Tax Dispute: High Rate Confirmed for Undisclosed Income Under Section 115-BBE for Assessment Year 2017-18
April 18, 2025   Case Laws     Income Tax

Taxpayer Wins: Section 147 Reassessment Invalidated Due to Lack of Sufficient Material and Limitation Constraints
April 18, 2025   Case Laws     Income Tax

Charitable Society Wins Tax Exemption: Section 2(15) Interpretation Upholds Non-Commercial Purpose and Public Utility Objectives
April 18, 2025   Case Laws     Income Tax

Tax Transfer Order Challenged: CBDT Directed to Investigate Procedural Irregularities in Assessment Proceedings Under Section 127
April 18, 2025   Case Laws     Income Tax

GST Rate Reduction Not Automatically Applicable: Council Recommendation Insufficient Without Formal Notification
April 18, 2025   Case Laws     GST

Bail Granted in Tax Fraud Case: Procedural Lapses Expose Critical Flaws in Arrest Mechanisms Under Criminal Procedure Code
April 18, 2025   Case Laws     GST

Systematic Denial of Personal Hearing Violates Natural Justice, Rendering Ex-Parte Proceedings Under Section 75(4) Invalid
April 18, 2025   Case Laws     GST

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

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
Tax Incentives for Start-ups in India : Clause 140 of Income Tax Bill, 2025 and Comparative Analysis with Section 80IAC of Income-tax Act, 1961
Protecting SEZ Developers' Tax Incentives : Clause 139 of the Income Tax Bill, 2025 Vs. Section 80IAB of the Income-tax Act, 1961
Assessing the Continuity and Reform of Infrastructure Tax Incentives under the Evolving Income Tax Framework : Clause 138 of Income Tax Bill, 2025 Vs. Section 80-IA of Income-tax Act, 1961
Reforming Political Contribution Deductions for Transparency and Accountability : Clause 137 of Income Tax Bill, 2025 Vs. Section 80GGC of Income-tax Act, 1961
Transparency and Tax Incentives in Political Funding : Clause 136 of the Income Tax Bill, 2025 Vs. Section 80GGB of the Income-tax Act, 1961
Redefining Tax Deductions for Scientific and Rural Advancement : Clause 135 of the Income Tax Bill, 2025 vs. Section 80GGA of the Income Tax Act, 1961
Modernising Charitable Tax Incentives : Clause 354(1) of Income Tax Bill, 2025 Vs. Section 80G(5) of Income Tax Act, 1961
Modernizing Tax Benefits for Higher Education : Clause 129 of the Income Tax Bill, 2025 Vs. Section 80E of the Income Tax Act, 1961
Promoting Affordable Housing through deduction in respect of interest on loans : Clause 130 of the Income Tax bill, 2025 Vs. Section 80EE of the income Tax Act, 1961
Promoting Home Ownership by allowing deductions on interest payments : Clause 131 of Income tax Bill, 2025 Vs. Section 80EEA of the Income Tax act, 1961
Promoting Green Transportation tax Incentives for Electric Vehicles : Clause 132 of the Income Tax Bill, 2025 Vs. Section 80EEB of the Income Tax Act, 1961
Transformation of Tax Deduction Mechanism in respect of donations to certain funds : Clause 133 of the Income Tax Bill, 2025 Vs. Section 80G of the Income-tax Act, 1961
Simplified Rent Deduction Mechanism for Non-HRA Assessees : Clause 134 of the Income Tax Bill, 2025 Vs. Section 80GG of the Income-tax Act, 1961
offer financial relief to taxpayers who incur significant medical expenses on Specified Diseases in Clause 128 of Income Tax Bill, 2025 Vs. Section 80DDB of Income Tax Act, 1961
Supportive Tax Provisions for Individuals and HUFs Caring for Disabled Dependents persons : Clause 127 of the Income Tax Bill, 2025 Vs. Section 80DD of the Income Tax Act, 1961
Understanding Health Insurance Deductions : Insights from Clause 126 of the Income Tax Bill, 2025 Vs. Section 80D of the Income Tax Act, 1961
Tax incentives to individuals who are enrolled in the Agnipath Scheme : Clause 125 of the Income Tax Bill, 2025 Vs. Section 80CCH of the Income Tax Act, 1961
Tax Incentives for Pension Contributions under NPS : Clause 124 of the Income Tax Bill, 2025 Vs. Section 80CCD of the Income Tax Act, 1961

More Notes

Notifications Notifications

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
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

IT

- Central Government notifies redeemable bonds issued by the Housing and Urban Development Corporation Limited (HUDCO), in respect of "Long-Term Specified Assets" under section 54EC.
April 7, 2025

IT

- Income-tax (Tenth Amendment) Rules, 2025 - Central Government notifies form ITR-B for taxpayers on whom search, or requisition operation has been initiated.
April 7, 2025

IT

- Exemption from specified income U/s 10(46A) of IT Act 1961 Prayagraj Mela Pradhikaran, Prayagraj
April 7, 2025

IT

- Exemption from specified income U/s 10(46A) of IT Act 1961 Greater Mohali Area Development Authority
April 7, 2025

Cus (NT)

- Appointment of Common Adjudicating Authority
April 7, 2025

CE

- Amendment in Notification No. 05/2019-Central Excise, dated the 6th July, 2019 - Increase in the rate of Duty on Petrol and Diesel
April 7, 2025

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

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

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

Central Excise

- Re-assignment of appeals pending in kolkata Zone.
April 8, 2025

Central Excise

- Setting up of office for operationalising Interim Boards for Settlement
April 8, 2025

SEZ

- Monthly Report from Development Commissioner of Special Economic Zones
April 8, 2025

Customs

- Rescinding of Circular No. 29/2020-Customs dated 29.06.2020 in respect of Transhipment of Export Cargo from Bangladesh to third countries through Land Customs Stations (LCSs) to Port / Airport, in containers or closed bodied trucks
April 8, 2025

FEMA

- Clarifications on the permissibility of issuance of bonus shares to existing non-resident shareholder(s) by Indian companies engaged in sectors prohibited for FDI.
April 7, 2025

FEMA

- Proposal regarding processing of prior permission application under FCRA, 2010
April 7, 2025

Customs

- Clarification on the classification and applicable Basic Customs Duty (BCD) for Interactive Flat Panel Displays (IFPDs) and other monitors
April 7, 2025

SEBI

- Standardized format for System and Network audit report of Market Infrastructure Institutions(MIIs)
April 4, 2025

More Circulars

News News, PIB

IMEC 'one of the greatest economic integration, connectivity projects of this century,' says US-Italy joint statement
April 18, 2025


Venice expands its day-tripper tax programme to combat overtourism
April 18, 2025


CBIC issues revised instructions for processing applications for GST registration by CBIC formations
April 18, 2025


APSEZ acquires 50 MTPA capacity NQXT Australia, accelerating path to 1 billion tonnes p.a. by 2030
April 18, 2025


Haitians face record hunger as gang violence grips country in throes of economic crisis
April 18, 2025


Parliamentary panel on I-T Bill seeks suggestions from experts
April 17, 2025


Won't interfere in finance department, says new economic advisor to Maharashtra CM
April 17, 2025


FIU-IND and RBI sign MoU for enhanced coordination and information exchange
April 17, 2025


MOSPI continues its endeavor to reduce timelines in release of its statistical products; Index of Industrial Production will now be released on 28th of every month reducing its release timeline from 42 days to 28 days.
April 17, 2025


CCI imposes monetary and non-monetary sanctions on UFO Moviez India Pvt. (along with its subsidiary Scrabble Digital Ltd.) and Qube Cinema Technologies Pvt. Ltd., for indulging in anti-competitive conduct
April 17, 2025


India poised to become a trusted bridge of global connectivity through India-Middle East-Europe Economic Corridor (IMEC): Shri Piyush Goyal
April 17, 2025


YSRCP seeks increased tax share from Finance Commission
April 17, 2025


Exports from Indore SEZ decline by over 9 pc to Rs 12,948 cr in FY25
April 16, 2025


Hospitality stakeholders hail GST rebate for hotels in Goa's hinterland
April 16, 2025


India's Retail Inflation Hits Six-Year Low
April 16, 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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