Insights & Resources

CBIC orders GST officers to drop appeals over Section 73 interest and penalty if tax is paid, clarifying relief under Section 128A.

The Bombay High Court, in Shoaib Richie Sequeira v. State of Maharashtra, directed the formation of a CBI-led Special Investigation Team to probe a massive cross-border financial fraud. Despite compelling evidence, both the EOW and CBI had failed to act, citing SEBI's jurisdiction. The Court reaffirmed its constitutional authority to ensure fair and impartial investigations when agencies fail to fulfil their statutory responsibilities.

RBI launches .bank.in for banks and plans .fin.in for NBFCs, enhancing cybersecurity and safeguarding users from financial fraud.

Karnataka HC rules on PMLA’s procedural safeguards, questioning the legality of search, seizure, and repeated summons by ED.

The IBBI’s 2025 amendments to the CIRP Regulations mark a pivotal reform in insolvency law—enabling early possession for homebuyers, formalising facilitator roles for large creditor classes, and mandating greater transparency in real estate projects. These changes aim to strengthen stakeholder representation, streamline the process, and build trust in insolvency proceedings.

SEBI enforces stricter regulations on market associations, barring unauthorised investment advisory and misleading return claims.

Bombay HC quashes criminal charges in Rakesh Jain case, ruling that contractual disputes cannot be disguised as money laundering.

NCLAT upholds IBC’s supremacy over tax laws, ruling that government tax dues do not qualify as secured debt in insolvency proceedings.

A Supreme Court ruling reignites the debate on literal vs. purposive statutory interpretation, shaping the future of insolvency law.

RBI introduces a revised framework for penalties & compounding under the PSS Act, ensuring fair enforcement & compliance clarity.

The Bombay High Court in Jitendra M. Doshi v. CCIT reaffirmed that a waiver of interest under Section 220(2A) of the Income-tax Act requires strict compliance with all three statutory conditions. The Court rejected the petitioner’s claim of financial hardship, citing lack of documentary evidence, inconsistent conduct, and non-cooperation. The judgment underscores the evidentiary threshold and taxpayer accountability under this discretionary relief provision.

Delhi HC quashes reassessment of a non-resident entity, affirming that tax authorities must rely on specific, relevant, and timely evidence.