NCLT Ahmedabad held that composition scheme of arrangement aimed at consolidating Adani Group’s renewable energy and green hydrogen with Adani New Industries Ltd. and Adani Enterprises Ltd. is sanctioned.
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ITAT Mumbai held that development fees collected from passengers was earmarked for capital expenditure towards modernisation and development of airport infrastructure and therefore the same could not be treated as revenue income of the assessee.
The absence of a signature on the charge-framing order sheet was a curable procedural defect and did not vitiate the trial, particularly where the accused was duly informed of and understood the charges against them.
The Tribunal held that an assessment order passed in compliance with DRP directions cannot be revised under Section 263. It clarified that such orders are not erroneous as the Assessing Officer is bound by DRP’s binding instructions.
The Finance Act, 2026 prescribes income-tax rates, surcharge, and cess for the assessment year 2026–27. It establishes the legal framework for tax computation, including applicable slabs and additional levies.
The RBI postponed implementation of revised capital market exposure norms after banks and intermediaries raised operational concerns. It also issued clarifications to address interpretational issues in acquisition finance and lending rules.
The Tribunal ruled that additions under Section 69 cannot be sustained when based solely on third-party statements and unverified electronic data. It emphasized the absence of independent evidence and upheld the taxpayers denial of cash payments.
The Court held that increased financial liability cannot override the right to just compensation. It refused to revisit earlier rulings granting solatium and interest.
The petitioner’s claim that delay was caused by a tax consultant was rejected. The Court held that the Tribunal’s finding was not perverse and required no interference.
