Income Tax Appellate Tribunaltax
Unsupported Extrapolation Cannot Justify Tax Addition
ITAT ruled that income tax additions based on unsupported extrapolation of figures are impermissible.
Jun 30, 2026Read more →
Legal News & Insights
AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
Latest Articles
Income Tax Appellate Tribunaltax
Section 87A Rebate Permitted Under New Tax Regime
The ITAT has allowed Section 87A rebate on short-term capital gains taxable under Section 111A for taxpayers with total income within ₹7 lakh.
Jun 30, 2026Read more →
Income Tax Appellate Tribunaltax
Bogus Purchases Limited to 8% Profit in Absence of Stock Rejection
The ITAT has restricted disallowance of bogus purchases to 8% of the purchase price in the absence of stock and sales rejection.
Jun 30, 2026Read more →
Income Tax Appellate Tribunaltax
Filing Error Does Not Void Section 10AA Deduction
ITAT has ruled that an incorrect form filing does not negate entitlement to Section 10AA deductions if eligibility criteria are met.
Jun 30, 2026Read more →
Reserve Bank of Indiabankingcorporate
Modification of Returns/Reporting under FEMA, 1999
The RBI has introduced modifications to the returns and reporting requirements under FEMA, aimed at enhancing compliance. These changes affect authorized persons handling foreign exchange transactions.
Jun 30, 2026Read more →
Reserve Bank of Indiabankingcorporate
Review of Circulars under Foreign Exchange Management Act, 1999
The RBI has conducted a review of circulars issued under FEMA, 1999, streamlining redundant directives. This initiative will assist authorized persons in better compliance and operational efficiency.
Jun 30, 2026Read more →
N/Acorporate
Guide to Prepare and File Form DPT-3
A comprehensive guide to Form DPT-3 as an annual compliance requirement for reporting deposits, detailing applicability and penalties for non-compliance.
Jun 30, 2026Read more →
N/Acorporate
Mandatory Legal Requirements for Starting an OPC
This article outlines the necessary legal steps for incorporating a One Person Company under the Companies Act, including compliance requirements and nominee rules.
Jun 30, 2026Read more →
N/Acorporate
ICSI Seeks Compliance on Whole-Time Company Secretaries Appointment
ICSI urges the Ministry of Corporate Affairs to enforce Section 203 compliance on eligible companies failing to appoint whole-time company secretaries.
Jun 30, 2026Read more →
Calcutta High Courtcorporateinsolvency
Suo Motu Transfer of Winding-Up Proceedings: Calcutta HC
The Calcutta High Court confirms that it can transfer pending winding-up proceedings at its discretion if they have not reached an irreversible stage.
Jun 30, 2026Read more →
National Company Law Tribunalcorporate
NCLT Dispensations for Shareholders’ Meetings
The NCLT has ruled that consent letters alone are insufficient for dispensing with secured creditors' meetings, necessitating the continuation of such meetings.
Jun 30, 2026Read more →
N/Acorporate
Company Formation: Legal Requirements Post-Incorporation
A newly incorporated company cannot commence business or borrow funds until it fulfills specific filing requirements. Non-compliance may result in penalties under Section 10A.
Jun 30, 2026Read more →
N/Acorporate
Form DPT-3 Filing Mandatory Even for Director’s Loan
Companies must file Form DPT-3 by June 30 for all deposits, including director loans and customer advances. This filing is crucial to remain compliant with the statutory requirements.
Jun 30, 2026Read more →