The 2026 FEMA amendment expands portfolio investment eligibility beyond NRIs and OCIs to all individuals resident outside India. It also raises investment limits and introduces stricter approval norms for specified investments.
The article reviews GST’s nine-year transformation, highlighting record revenue, taxpayer expansion, digital compliance, and logistics improvements. It also outlines pending reforms and the growing role of artificial intelligence in tax administration.
SC issued notice as Delhi HC quashed Section 153C notices beyond the ten-year block period while clarifying key principles on search assessments.
Section 186 prescribes limits on inter-corporate loans, guarantees, and investments, requiring board and shareholder approvals beyond specified thresholds. Non-compliance can result in significant penalties and imprisonment for defaulting officers.
The article explains why stock withdrawals and inter-firm transfers by common partners trigger GST under Schedule I despite the absence of consideration. It highlights valuation rules, blocked ITC, and compliance strategies to avoid disputes.
The Chhattisgarh High Court upheld the acquittal after finding the relationship was consensual. A later refusal to marry did not establish rape in the facts of the case.
The Government has extended the deadline for filing eligible GSTAT appeals to 31 July 2026. The extension applies only to specified older cases, while newer appeals remain subject to the normal limitation period.
ITAT held the assessment time-barred as the AO failed to pass the final order within the mandatory timeline under Section 144C(13).
The GSTAT committee proposed digital filing, relaxed certified copy requirements, and longer defect rectification timelines to streamline appellate procedures. The proposals await formal notification.
Tribunal partly allowed the assessee’s appeals by granting relief on transfer pricing, scientific research deduction, product registration expenses, section 14A/MAT adjustment, and forex hedging losses, while upholding the disallowance of expenditure on freebies to doctors and delayed employees’ welfare contributions.
