NSIC registration allows eligible MSMEs to access government tenders without paying EMD and tender fees, strengthening procurement opportunities.
Rising tuition fees and limited scholarships have sparked concerns about commercialization in JEE and NEET coaching hubs like Kota.
The Court ruled that personal liability under Section 89 cannot be invoked without giving the director an opportunity to prove absence of negligence. Bank attachment without notice violated natural justice.
Non-resident experts under notified government schemes will not be taxed on foreign income for five years, provided residency conditions are satisfied.
The Court held that mere recommendation for promotion does not create an accrued right when no D.P.C. or select list was prepared. Since the cadre was abolished before completion of the process, appointments under repealed rules were impermissible.
The Court quashed a composite assessment order, holding that Sections 73 and 74 require separate show cause notices for each financial year due to distinct limitation periods.
ITAT Mumbai deleted the Section 68 addition on LTCG from listed shares, holding that documentary evidence, STT payment, and banking trail were not disproved by the Revenue.
SEBI has superseded Clause 2.6 of the Master Circular, introducing revised scheme categories, overlap limits, and standardized naming norms. Mutual funds must realign portfolios and disclose category-wise overlaps monthly to enhance transparency.
Budget 2026 introduces sweeping retrospective amendments affecting limitation, reassessment jurisdiction, DIN validity, and TPO timelines. The changes directly impact ongoing appeals, rectification, revision, and reassessment proceedings, altering litigation strategy for taxpayers and authorities alike.
Tripura HC held ITC cannot be denied under Section 16(2)(c) if buyer is bona fide and no fraud is alleged under Section 73 proceedings. Court ruled GST ITC cannot be denied to genuine purchasers merely due to supplier’s tax default absent fraud or collusion.
