The Tribunal found no infirmity in the CIT(A)s detailed order deleting additions based on proper verification of evidence. All grounds raised by Revenue were rejected, and cross-objection became infructuous.
The amendment introduces LTV caps, valuation norms, and exposure limits for loans against eligible securities. It strengthens risk controls and integrates such lending within capital market exposure norms.
ITAT Delhi held that a public charitable trust cannot be taxed at the Maximum Marginal Rate under Section 167B. The Tribunal directed that income be taxed at normal slab rates applicable to an AOP.
The revised Directions formally recognize acquisition finance and bridge finance for promoter stakes under banks’ permitted financial services. The move aligns operational guidelines with updated credit norms.
Banks must now disclose granular capital market exposures, including acquisition finance, IPO funding, CMIs, and underwriting commitments. The amendment enhances transparency and aligns reporting with revised concentration risk norms.
The RBI now permits acquisition finance only for strategic control transactions, subject to strict eligibility, valuation standards, 25% borrower contribution, and a 3:1 debt-equity ceiling. The move strengthens prudential safeguards and limits excessive leverage in takeover funding.
The approving authority issued one common approval for multiple years without demonstrating examination of records. The Tribunal ruled such ritualistic approval vitiates the entire assessment.
The CBIC has revised tariff values for gold, silver, palm oil, soybean oil, brass scrap and areca nuts under Notification No. 20/2026-Customs (N.T.). The updated rates, effective 14 February 2026, impact valuation for customs duty purposes under Section 14 of the Customs Act, 1962.
The RBI capped aggregate CME at 40% of eligible capital and expanded the definition to include acquisition finance, bridge finance, and IPCs, strengthening concentration risk oversight.
IFSCA has launched a unified “Master Key” registration allowing IFSC entities to undertake multiple capital market activities through a single application. Separate fees remain payable for each approved activity.
