Karnataka High Court held that blocking of Electronic Credit Ledger invoking rule 86A of Central Goods and Services Tax Rules [CGST Rules] without granting pre-decisional hearing and without providing reasons to believe is impermissible. Accordingly, order is quashed.
The Tribunal held that only the first non-compliance under Section 142(1) could attract penalty, deleting the remaining ₹50,000 imposed for repeated defaults. It also restored penalties under Sections 271A and 271(1)(c) for fresh adjudication since they depend on the pending quantum appeal.
The RBI repealed its November 2025 Directions for Urban Co-operative Bank branch authorisations and replaced them with new Directions, maintaining continuity of prior actions and approvals.
Rajasthan High Court held that criminal prosecution wholly on allegation of concealment is liable to be quashed since the Tribunal has adjudicated that there was neither concealment during penalty proceedings hence there remains no factual or legal basis for the prosecution to survive.
The Tribunal held that once sales are accepted and basic supporting documents exist, only the profit element in alleged bogus purchases can be taxed. It upheld a 6% GP addition and rejected the Revenue’s demand for 100% disallowance.
The RBI amends GML regulations, specifying definitions, lending norms, repayment options, and quarterly reporting to enhance transparency and risk management in the jewellery sector.
RBI’s 2025 amendment revises definitions, repayment, and monitoring norms for Gold Metal Loans. The changes strengthen risk management and transparency for small finance banks.
RBI’s 2025 amendment revises large exposure limits, intra-group transaction rules, and risk monitoring frameworks to strengthen concentration risk management in banks.
The order was remanded after ITAT found the CIT(A) overlooked core issues including validity of belated 148 return, applicability of 153C, and cross-examination rights.
The RBI amends rules requiring banks to monitor exposure to large borrowers and specific sectors. The change strengthens risk management practices and enhances systemic stability.
