The issue covered is how and when India’s Budget is presented and who set major records. The takeaway is an overview of important milestones, from timing changes to paperless budgets.
This clarifies the eligibility for direct conversion into an LLP. The takeaway is that compliance with the LLP Act and Rules enables a one-step conversion.
The issue was whether penalty under section 271(1)(c) can be levied when bogus purchases are disallowed on an estimated basis. The Tribunal held that estimation does not establish concealment, making the penalty unsustainable.
The issue is accurate reporting of GST for notified tobacco goods. The takeaway is a step-by-step approach aligned with system validations and legal provisions.
The issue addressed is long-pending wage and pension revisions in key financial institutions. The key takeaway is substantial pay hikes and pension enhancements benefiting employees, pensioners, and family pensioners.
The case examined additions made in Section 153C assessments based on third-party search material. The Tribunal ruled that additions cannot stand unless incriminating documents are furnished to the assessee.
The Tribunal held that cash gifts received from relatives covered under section 56(2)(vii) cannot be taxed as unexplained credits. Once identity, creditworthiness, and genuineness are proved, section 68 has no application.
The issue was rejection of trust registration as non-maintainable without hearing. The Tribunal ruled that due opportunity must be granted and remanded the matter for fresh consideration.
The amendment revises the HVDLE classification threshold from ₹1,000 crore to ₹5,000 crore. This significantly reduces governance and disclosure compliance for smaller debt-listed entities.
The notification substitutes tariff value tables but keeps rates unchanged for key imports like edible oils, metals, and areca nuts. The takeaway is continued certainty in customs duty assessment from 23 January 2026.
