The Court upheld that sugar, edible oil and vanaspati fall within Section 2(1)(a) of the Maharashtra Marketing Act. Market fees can be levied if procurement occurs within the notified market area.
The Exchange of Letters strengthens regulatory cooperation between IFSCA and the FCA. It enables sharing of best practices and developments in financial products, services, and technology.
SEBI has introduced a revised capacity planning and real-time monitoring framework for the commodity derivatives segment. The circular reduces the earlier four-times peak load requirement to a 2x projected peak load standard and mandates action when utilization crosses 75%. Exchanges must submit approved capacity policies within three months.
The RBI has withdrawn its 2021 circular on grievance redress mechanisms following updated disclosure norms and enhanced ombudsman compensation powers. Banks must still maintain robust grievance systems under existing regulations.
ICAI has partnered with The Art of Living to integrate stress management, value-based education, and wellness initiatives for Chartered Accountants and students. The initiative aims to strengthen ethical values and professional resilience.
The High Court directed removal of a Chartered Accountant s name for one year after finding him guilty of Other Misconduct under the 1949 Act. ICAI implemented the order through official notification.
With economic offences rising sharply, digital and electronic records have become central to corporate fraud trials. The BSA modernises evidence rules, but investigative and certification challenges continue to test enforcement agencies.
Once the Central Government notified the Faceless Scheme for reassessment (effective March 29, 2022), the JAO was effectively divested of the power to issue notices under Section 148. The issuance of a notice by a JAO instead of the National Faceless Assessment Centre (NFAC) was a jurisdictional error that could not be cured.
PCIT s revision under section 263 against assessee was upheld holding that AO did not properly verify the very low Section 14A disallowance despite huge exempt income and also ignored INSIGHT portal inputs about alleged accommodation entries.
The adjudicating authority held that filing an e-Form with incorrect particulars attracts penalty under Section 450. Administrative rectification does not wipe out the completed contravention.
