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.
The issue concerns treatment of carried-forward losses when post-merger conditions are breached. The law provides that such benefits are reversed and taxed as income in the year of violation. The key takeaway is that non-compliance leads to prospective taxation without reopening past assessments.
RBI introduced stricter rules for acquisition finance and lending to intermediaries to control risk exposure. The framework ensures prudent lending and financial stability.
The Tribunal dismissed appeals after the assessee failed to appear despite multiple notices. Lack of participation led to confirmation of additions made by tax authorities.
RBI revised concentration risk guidelines to include broader exposure categories and stricter limits. The move strengthens risk management and safeguards financial stability.
A new payment aggregator facility now allows customs duty payments through UPI, credit, and debit cards. This reform simplifies transactions and improves ease of doing business. The key takeaway is faster, more flexible payment options for importers.
The RBI clarified that IPCs will be treated as financial guarantees with a 100% credit conversion factor. However, capital is required only on the capital market exposure portion, with a 125% risk weight applied.
