The Tribunal held that different floors of the same building constitute one residential house. Deduction under Section 54 cannot be denied on the ground of structural division.
This piece explains how speculative and unaccounted money overtakes genuine economic value, creating artificial growth. It highlights how such imbalance leads to financial bubbles and eventual economic collapse.
The new rules replace legacy forms with a structured, renumbered system. They simplify compliance while expanding reporting requirements across tax domains.
The tribunal held that proportionate reversal of credit for trading is sufficient compliance. It ruled that full reversal under Rule 6(3A) is not mandatory.
The law replaces Form 26QE with Form 141 for VDA transactions from April 2026. Taxpayers must follow the new challan-cum-statement system for TDS compliance.
The court set aside denial of ITC refund based on intermediary classification without proper examination. It remanded the matter for fresh adjudication considering agreements and legal precedents.
The court stayed FIR proceedings for non-payment of VAT dues due to significant delay in filing. It held that delayed criminal action weakens prosecution and cannot be sustained mechanically.
DGFT amended rules to require Certificates of Origin to be issued only through a designated electronic platform. Manual issuance is prohibited and may lead to cancellation of authorization.
The ICAI postponed the CA Intermediate exams from 3rd May to 5th May 2026 citing unavoidable reasons. The revised schedule retains exam timings while shifting all Group I and II dates accordingly.
ICAI reduced CA Final exam attempts from three to two annually based on stakeholder feedback. The exams will now be held only in May and November starting 2026.
