The Tribunal held that examining the donor’s creditworthiness and seeking income-tax returns at the registration stage is beyond the scope of section 12AB. Registration cannot be denied on such grounds when charitable objects and activities are genuine.
The draft directions permit RRBs to market mutual funds and insurance products on a fee basis without risk participation, subject to SEBI and IRDAI compliance.
RBI has issued draft amendment directions to standardise borrower treatment and recovery agent conduct across banks, NBFCs, and financial institutions. The move expands responsible business norms beyond select entities.
The draft directions allow Payments Banks to deal only in regulated financial products under agency arrangements and mandate compliance with responsible conduct norms.
ITAT Bangalore held that mere long-pending sundry creditors cannot be taxed under Section 41(1) unless there is actual remission or legal cessation of liability. Continued reflection of liabilities in books prevents addition as income.
The Supreme Court held that refund of GST collected and passed on to consumers must be credited to the Consumer Welfare Fund. It ruled that courts cannot create alternative refund mechanisms outside Section 54 of the CGST Act.
RBI has proposed amendments allowing Small Finance Banks to deal only in regulated financial products under agency arrangements. Referral income is limited to a one-time fee.
The Commerce Ministry revised SEZ-Online user charges after migration of transactions to ICEGATE reduced operational viability. New rates for transactions, AMC, and registrations apply from January 1, 2026.
ROC Kolkata imposed penalties for failure to appoint the mandatory two Independent Directors within the prescribed timeline under Section 149. The order clarifies that delayed compliance after conversion into a public company invites monetary penalty under Section 172.
RBI has proposed amendments restricting banks to regulated financial products and mandating fee-based, no-risk agency arrangements. Referral services must remain purely advisory with strict disclosures.
