Mumbai ITAT ruled agreement registration does not mean property receipt. Tax cannot be levied on future property rights under anti-abuse provisions. The tribunal allowed a taxpayer’s appeal against a ₹1.38 crore tax addition. Registration creates contractual rights, not actual property…
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EbixCash secured a perpetual Authorised Dealer Category-II licence from the Reserve Bank of India. This licence allows the company to handle trade and family remittances, previously a bank-dominated segment. The expanded powers enable EbixCash to directly serve small and medium…
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Tax experts say a PAN level administrative framework could bring greater consistency to audits and tax positions for multi state businesses, but caution that the model must preserve State oversight, avoid overlapping powers and be backed by a unified digital…
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Oil rose in Asian trade Wednesday, with Brent crude hitting its highest price in more than a month, as Iran targeted US radar and air defence installations in the Gulf. Brent crude was trading up 1.2 percent at $92.09 a…
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Sebi has directed depositories to freeze promoter holdings during company buyback periods. This restriction will be in effect from board approval until the offer closes. Promoters can still participate in buybacks through the tender offer route. Existing pledges created before…
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The CBIC seized significant amounts of smuggled gold and silver recently. Gold seizures totaled 247.07 kg in April-June this year. Silver seizures reached over 585.48 kg during the same period. Mango exports to Nepal are permitted, while Japan’s issues are…
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