The Court clarified that an NGTP or non-genuine taxpayer tag is only a risk indicator and not conclusive proof against buyers. Authorities must conduct proper enquiry, examine records, and provide transaction-wise findings before rejecting ITC claims.
The circular clarifies that SEBI regulations on insider trading, self-dealing, and front running will apply to all NPS investment activities. PFRDA withdrew its separate framework to eliminate regulatory duplication and ensure uniform compliance standards.
The Department of Posts revised the limit for voucher-free Aadhaar-authenticated withdrawals from ₹5,000 to ₹20,000. The move strengthens paperless banking and simplifies POSB transactions through e-KYC processes.
SEBI warned that AI-driven tools like Mythos can rapidly identify and exploit cybersecurity weaknesses across the securities market ecosystem. The advisory mandates stronger monitoring, patch management, and coordinated cyber resilience measures for regulated entities.
SEBI released an official list of Significant Indices that includes major benchmarks such as Nifty 50, Nifty Bank, and Sensex. Index providers managing these benchmarks must comply with the SEBI (Index Providers) Regulations, 2024.
The ITAT ruled that penalty proceedings under Section 271D are invalid if the Assessing Officer fails to record satisfaction in assessment or related proceedings. Since no assessment proceedings existed in the case, the penalty was held unsustainable in law.
The ITAT Hyderabad held that additions for alleged cash payments cannot be sustained merely on the basis of third-party seized documents. The Tribunal ruled that absence of corroborative evidence, cash trail, or signed records makes such additions legally unsustainable.
Gujarat HC upheld Section 16(2)(c) of the CGST Act, allowing denial of ITC where suppliers fail to deposit GST with the government.
The ROC imposed penalties after a company extended its rights issue offer period following requests from promoter shareholders. The adjudication order clarified that the Companies Act restricts rights issue offers from remaining open for more than 30 days.
The Court held that blocking of the electronic credit ledger under Rule 86A cannot continue beyond the statutory one-year period. It clarified that such restriction automatically lapses by operation of law regardless of pending departmental proceedings.
