Notification no. 46/2025 dated 09.05.2025- Income tax
CBDT issued notification no. 46/2025 dated 09.05.2025 to introduce FORM ITR-7 for AY 2025-26.
Month: May 2025
Advisory on Appeal withdrawal with respect to Waiver scheme
Waiver scheme under Section 128A mandates that any appeal against the requisite demand order should not remain pending with Appellate authority.
Neither AAR nor AAAR have jurisdiction to decide on the taxability under the Finance Act, 1994
The Telangana AAAR, in the case of Maddi Seetha Devi, held that neither the AAR nor AAAR have any jurisdiction to decide on the taxability under Finance Act, 1994 and also held that when a question is not raised before the AAR, the AAAR cannot entertain the same in appeal.
Lawgics – Judgment No. 196
Once revenue taken particular stand same cannot be completely changed by different reason or ground and therefore demand order was quashed as initially authorities physically verified goods and accompanying documents without noting any discrepancies but later served demand stating goods being different as mentioned in documents without valid reasons.
Instruction No.10/2025-Customs dated 13.05.2025
Central Board of Indirect Taxes and Customs (CBIC) issued Instruction no. 10/2025-Customs dated 13.05.2025 on Arrest Report and Incident Report (where arrest not made) – revised format.
Changes in ITR Form 6 for 2025: Key updates taxpayers should know
CBDT has notified revised Income Tax Return (ITR) forms for assessment year (AY) 2025-26.
Kerala: Hybrid weed smuggling outpaces gold after customs duty reduction
The Union government slashing the customs duty on imported gold from 15% to 6% in July 2024 has weaned many of the rackets away from smuggling of the precious metal and some of them have switched to smuggling of hybrid ganja as it fetches a higher profit margin, sources in the Directorate of Revenue Intelligence (DRI) and Customs Preventive Commissionerate (CCP) told TNIE.
Latest update 14.05.2025
Webinar: Advance Authorization & EPCG Scheme Webinar on 17.05.2025 | topic: Advance Authorisation & EPCG Scheme | 3 pm to…
Lawgics – Judgment No. 195
GST Registration Cancellation was set aside and the Petitioner was granted personal hearing and access to GST portal to upload reply and documents to SCN.
Legal heir not liable for deceased’s GST dues in absence of business continuity
The Hon’ble Jharkhand High Court in Rishi Shangari set aside the order stating that in absence of any material referred to by department as to on what basis it was held that the Assessee was continuing business in name of his father’s proprietary concern after his father’s death in spite of the Assessee obtaining a fresh registration in his own name.