ITAT held that CPC could not make adjustments under Section 143(1) without issuing the mandatory prior intimation. The order was quashed and the assessees appeal was allowed.
The Madras High Court held that an order under Section 74 cannot be passed when the notice was issued under Section 73. The matter was remanded for fresh proceedings after giving the assessee an opportunity to respond.
CESTAT held that Income Tax data without corroborative evidence cannot establish service tax liability and quashed the demand.
CBIC has revised tariff values for edible oils, gold, silver and brass scrap under Notification No. 60/2026-Customs (N.T.). The revised values apply from 1 July 2026.
IFSCA has revised its internet banking framework, giving existing IBUs until 31 July 2026 to comply, failing which they cannot onboard new customers for non-compliant liability products.
SEBI has constituted an Expert Working Group to review the Debenture Trustees regulatory framework, strengthen trustee responsibilities, and align regulations with evolving debt market developments.
The Government has extended the validity of Notification No. 13/2026-Customs from 30 June to 15 July 2026. The amendment ensures continuity of the existing customs exemption without changing any other conditions.
CBIC has extended the Nil customs duty exemption on 40 notified petrochemical products by 15 days, keeping the benefit available until 15 July 2026.
Bombay High Court restored GST registration subject to payment of outstanding GST dues, interest, late fees and penalty within prescribed timelines.
The First Appellate Authority directed the CPIO to dispose of the RTI application after finding it was not decided within the 30-day period under the RTI Act.
