The amendment shifts place of supply to the recipient’s location. This impacts export eligibility and RCM applicability based on time of supply.
SEBI clarifies that physical security creation alone is insufficient for demat assets. Trustees must ensure depository-level registration to validate charges and protect investors.
The Court held that reassessment proceedings are invalid if approval is obtained from an incorrect authority. It clarified that sanction must strictly comply with Section 151 based on elapsed time limits. The ruling reinforces jurisdictional safeguards in reassessment cases.
The Court held that reassessment based solely on an audit objection is invalid as it constitutes a change of opinion. It emphasized that previously examined issues cannot be reopened without new tangible material. The ruling reinforces limits on reassessment powers.
The issue was whether reassessment can survive when no addition is made on the stated reasons for reopening. The Tribunal held that such reassessment is invalid, and the AO cannot make unrelated additions.
This update outlines critical compliance deadlines across FEMA, GST, Income Tax, Companies Act, and more for April 2026. It helps businesses track obligations and avoid penalties through timely filings.
ITAT held that reassessment without issuing notice under Section 143(2) is invalid, even if return was filed late. The ruling emphasizes that issuance of notice is mandatory and absence of it makes the assessment void.
ITAT ruled that deduction under Section 54F can be raised during reassessment if it relates to the income under scrutiny. The case clarifies that reassessment scope includes such connected claims.
The document updates tax planning concepts to reflect changes introduced by the Finance Act, 2026 and Income Tax Act, 2025. It clarifies revised statutory references and computational methods. The key takeaway is that tax planning must align with updated legal provisions to remain compliant and accurate.
The Court held that failure to consider a filed reply invalidates the assessment. The matter was remitted for fresh adjudication with hearing opportunity.
