The issue was confusion due to separate previous and assessment years. The reform replaces them with a single Tax Year, simplifying references while retaining existing assessment timelines.
The issue was whether an RVO could grant conditional enrolment to an unqualified applicant. The authority held that such enrolment violates valuation rules. The key takeaway is that only fully eligible candidates can be admitted.
The issue was the absence of a mechanism to enforce lock-in on pledged shares. SEBI introduced a “non-transferable” tagging system through depositories.
Courts recognize oral family settlements if genuine and voluntary. However, lack of evidence or misuse for tax purposes can lead to rejection and legal complications.
The case addresses withdrawal of an advance ruling request before its pronouncement. The authority permitted withdrawal under Regulation 20, leaving the classification and duty issues undecided.
The Court declined interference as proceedings were already initiated by both departments. Petitioners were directed to respond to notices through proper channels.
IRDAI formed a sub-committee to review private health insurance and improve policyholder experience. The initiative focuses on expanding coverage, enhancing claims processes, and strengthening trust.
IFSCA has specified mandatory ICSI courses for KMPs and employees in IFSC entities. The directive requires completion by September 30, 2026, to strengthen regulatory knowledge and compliance standards.
The case addressed denial of refund of VAT pre-deposit made through ITC. The Court held that Section 142(6) mandates cash refund and overrides conflicting departmental circulars, ensuring taxpayer relief.
Over-reliance on AI tools can lead to errors, data risks, and poor decisions. The key takeaway is to balance AI use with human expertise and oversight.
