DGFT reaffirmed the restricted status of IT hardware imports and mandated online authorisation under the Import Management System. The ruling sets clear timelines and validity rules for 2026.
Explains when Form 15CA must be filed for payments to non-residents and how it enables tax authorities to track cross-border remittances. The key takeaway is that timely and accurate filing is essential to avoid remittance delays and tax exposure.
The Supreme Court held that an FIR based on previously closed complaints and filed without mandatory sanction is an abuse of process and must be quashed.
SEBI approved new Stock Brokers Regulations, 2025 to replace the 1992 framework, reducing pages and removing redundancies. The ruling prioritises clarity, ease of compliance, and stronger supervisory focus.
Explains when Form 10F becomes mandatory for claiming DTAA benefits and what information must be furnished under Indian tax law. The key takeaway is that Form 10F complements the TRC and is critical for applying lower withholding tax on foreign remittances.
Explains how GST applies to solar power projects executed under turnkey contracts and why the 70:30 deemed valuation is mandatory.
GSTN has clarified key issues on filing annual returns through consolidated FAQs. The guidance explains ITC reporting, auto-population rules, and late fee computation to ensure accurate compliance.
ITAT Delhi held that additions under Section 69C cannot be made if the AO exceeds the scope of directions issued under Section 263, emphasizing procedural compliance.
The ITAT condoned a two-day delay caused by OTP and system issues, noting the Revenue’s failure to rebut the explanation. The ruling affirms a pragmatic approach to minor procedural lapses.
The tribunal held that every oil well constitutes an independent undertaking eligible for deduction under section 80IB(9). The key takeaway is that profits of individual wells cannot be clubbed merely because they operate under a single contract.
