The RBI has issued final directions regulating Rupee interest rate derivatives, defining eligibility, reporting requirements, and risk limits to strengthen transparency and market integrity.
RBI permits movement of Indian currency to/from Nepal and Bhutan with revised limits, effective under the 2025 amendment to FEMA regulations.
The circular removes certain statutory lending restrictions for foreign bank IBUs while imposing stricter safeguards for director-related loans and corporate buy-back financing.
The ITAT Pune held that splitting royalties for domestic vs export sales was impermissible, deleting the entire transfer pricing adjustment. The ruling reinforces that TNMM aggregation for manufacturing includes royalties as a single element.
ITAT Delhi ruled that policy advocacy for EU businesses in India is charitable, as it has no profit motive and benefits the public. CIT(E)’s denial was set aside, and 12A registration restored.
ITAT restored the matter to the Assessing Officer since the assessee’s application for delayed 12A registration and condonation under Section 119(2)(b) was still undecided. The ruling underscores that exemption eligibility must be re-examined only after the competent authority disposes of the registration request.
ITAT clarifies that capital gains arise on the date of JDA execution, not registration, and allows reassessment if the agreement is cancelled before possession transfer.
ITAT Kolkata upheld deletion of ₹8.70 crore addition under Section 68, ruling that proper evidence and confirmations by loan creditors absolved the assessee. Arbitrary AO findings cannot justify tax.
GSTN clarifies that supplies added or amended via GSTR-1A will auto-populate Tables 4 and 5 in GSTR 9, ensuring annual returns reflect the most updated liability data.
The Court held that a GST demand for a pre-liquidation period could not be enforced after the corporate debtor was sold as a going concern with NCLT confirmation. It ruled that all past dues stood extinguished and the tax proceeding was invalid.
