Budget 2026 shifts customs policy from layered exemptions to clearer tariff rates embedded in the schedule. The key takeaway is improved certainty and easier compliance for importers and exporters.
The Supreme Court ruled that menstrual hygiene falls within Article 21 and mandated nationwide MHM facilities in all schools. States and UTs must ensure toilets, free sanitary napkins, and safe disposal within three months.
The court held that a reassessment notice issued by the jurisdictional officer violated the faceless assessment scheme. As a result, the notice and the consequential assessment order were set aside, subject to liberty if higher courts take a different view.
The Tribunal held that remanding an assessment under the amended section 251(1)(a) is legally valid. The key takeaway is that appellate remand powers now have clear statutory backing.
The case examined whether a General Power of Attorney could be treated as a Joint Development Agreement for taxing capital gains. The Tribunal held that a GPA does not amount to a transfer, leading to deletion of the addition.
The regulator has mandated POPs to upload all offline subscriber grievances into CRA CGMS portals. This ensures that every complaint is centrally tracked, monitored, and analysed for effective regulatory supervision.
The issue was whether revision under section 263 could be invoked when the Assessing Officer had accepted a legally possible view. The Tribunal held that where two views exist and the AO adopts one, the order is neither erroneous nor prejudicial.
The tribunal held that a bank guarantee equal to a large portion of goods value was excessive and reduced it to 30% of the duty amount, while sustaining the bond for full value.
The adjudicating authority held that filing AOC-4 after prolonged delay attracts penalty despite eventual compliance. Rectification beyond statutory timelines does not grant immunity.
The Tribunal held that cash deposits could not be fully treated as undisclosed when income was declared under section 44AD. The key takeaway is acceptance of presumptive business income.
