The Supreme Court ordered the Monitoring Committee to meet at least once every three months to address welfare concerns of North-East residents. A status report on the 15.03.2026 meeting must be submitted to the Court.
The Madras High Court condoned a 150-day delay in filing a GST appeal, accepting the explanation of accountant’s lapse. The Court directed payment of an additional 10% of disputed tax before hearing the appeal on merits.
The High Court revoked cancellation of GST registration and directed portal modifications to enable compliance. ITC utilization was restricted pending departmental scrutiny.
Despite arguable points raised, the Supreme Court declined interference since arbitration had commenced before a senior arbitrator. The decision reinforces judicial support for continuing agreed arbitral processes.
The Court held that designation of New Delhi as the arbitration venue amounts to the juridical seat, conferring supervisory jurisdiction. Despite a separate exclusive jurisdiction clause for Jajpur courts, the Court appointed an arbitrator under Section 11(6).
Introduction The taxation of capital gains is one of the most significant components of India’s direct tax structure. Whenever a person sells shares, real estate, gold, mutual funds, or even digital assets at a profit, that gain is taxed under the Income Tax Act, 1961. However, the rate and method of taxation depend primarily on […]
The Finance Ministry has permitted Aadhaar-based authentication for accessing credit information reports, subject to user consent and availability of alternative ID options.
The scheme allows companies to regularize overdue ROC filings by paying only 10% of additional fees and grants immunity from penalties if completed before July 15, 2026.
The 2026 amendment replaces internationally accepted valuation standards with standards notified by the Board through circular. It strengthens regulatory control over valuation in personal guarantor bankruptcy cases.
The 2026 amendment revises the definition of “fair value” to include all assets and underlying synergies and requires appointment of two sets of registered valuers. It introduces a structured mechanism for computing fair and liquidation values.
