CESTAT Kolkata held that Cenvat credit on Service Tax paid for outward freight and insurance was admissible where goods were delivered at the buyer’s premises and ownership passed there. The demand was set aside on merits and limitation.
The Gujarat High Court held that tax liabilities relating to periods before approval of a resolution plan stood extinguished under Section 31 of the IBC. Consequently, the assessment order and demand notice were quashed.
The case involved additions for alleged on-money in Godhavi land transactions based on a handwritten loose sheet. The Tribunal restored the matter for fresh consideration, highlighting issues relating to evidence and assessment findings.
ITAT Delhi held that the PCIT exceeded jurisdiction by introducing issues not mentioned in the Section 263 show-cause notice. The revision order was quashed for travelling beyond the scope of the proceedings.
The Kerala High Court held that deduction under Section 36(1)(iii) was unavailable where borrowed money was invested as capital in a partnership firm and not used for the assessee’s own business.
The regulator held that agreements lacking clear fee provisions undermined contractual clarity and regulatory compliance. A penalty of ₹1 crore was imposed for violations of MISP guidelines.
Public Notice No. 13/2026-27 revises the standard input-output requirements for several chemical products. Exporters must now follow the updated raw material consumption norms with immediate effect.
SEBI modified nomination norms for demat accounts and mutual fund folios after receiving stakeholder feedback on implementation issues. The revised framework aims to simplify investor onboarding and nomination procedures.
MCA amends Schedule VII of the Companies Act to include subscription to zero coupon zero principal instruments on Social Stock Exchange under CSR.
MCA has amended the CSR Rules to recognize zero coupon zero principal instruments issued by Social Stock Exchange-listed NPOs. The amendment creates a new channel for CSR implementation while prescribing safeguards for fund utilization.
