The new directions modify risk-weighted asset treatment, limiting capital maintenance to CME exposure and aligning with concentration risk rules.
SEBI has initiated a multilingual AI-driven outreach to spread awareness about the SEBI Check Tool and validated UPI handles. The pilot aims to help investors verify payment details before transferring funds.
The Tribunal held that addition cannot be sustained merely on the basis of an uncorroborated statement recorded from another person. In absence of independent evidence, the ₹1.80 crore addition was deleted.
The RBI amended NBFC Credit Facilities Directions to align asset classification and provisioning with updated prudential norms. The change ensures uniform application of income recognition and provisioning standards.
Rural Co-operative Banks can now recognise income on accrual basis for Standard assets, but must follow cash basis for non-Standard loans and reverse unrealised income on NPA classification.
The RBI has amended IRACP norms to permit NBFCs to factor in Default Loss Guarantee arrangements while computing Expected Credit Loss, subject to IndAS conditions. The changes apply immediately.
The Tribunal held that purchases from a foreign supplier were genuine as goods were imported through customs and duly recorded in books. It upheld deletion of addition under Section 68 on this ground.
ITAT Delhi held that notice under Section 148 issued before obtaining mandatory approval under Section 151 is invalid. Since sanction was granted after issuance of notice, the reassessment was declared void ab initio.
The Tribunal confirmed the jurisdictional validity of reassessment based on new information. However, the addition was restored to ensure compliance with principles of natural justice and Section 250(6).
The Tribunal ruled that failure to examine whether payees discharged tax liability vitiates proceedings under Section 201. The case was sent back to the AO to verify compliance and re-decide the issue.
