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Archive: July, 2026

Posts in July, 2026

Section 50C Cannot Create Income Under Section 56: Statutory Analysis

July 9, 2026 576 Views 0 comment Print

Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its statutory scope.

Can a Person Be KMP While on Another Group Company’s Payroll?

July 9, 2026 309 Views 0 comment Print

Analysis of Section 203 explains whole-time KMP appointments in group companies, legislative intent, industry practice and governance safeguards.

SC Stays Rajasthan HC Ruling Upholding GST on DBFOT/BOT Toll Concessionaire

July 9, 2026 274 Views 0 comment Print

SC issued notice and stayed the Rajasthan HC judgment upholding GST liability on a DBFOT/BOT toll concessionaire. Final merits remain undecided.

10 Transactions Requiring Shift From ITR-1 to ITR-2 or ITR-3

July 9, 2026 4341 Views 0 comment Print

Capital gains, business income, foreign assets, directorship and other transactions may make taxpayers ineligible to file ITR-1.

Foundation of FCRA – Foreign Contribution & Eligibility

July 9, 2026 273 Views 0 comment Print

Understand foreign contribution, FCRA eligibility, Section 2(1)(h), Section 3 prohibitions, and registration requirements under the FCRA, 2010.

Delhi HC Lay Down Right to Be Forgotten Framework for Online Judicial Records

July 9, 2026 225 Views 0 comment Print

Delhi HC lays down a framework on the right to be forgotten, directing de-indexing in eligible cases while balancing privacy, open justice and public interest.

Rule 39(1)(a) ITC Distribution Demand Remanded for Fresh Decision: Bombay HC

July 9, 2026 279 Views 0 comment Print

Bombay HC quashed the order on delayed ISD ITC distribution under Rule 39(1)(a) and remanded the matter for a fresh reasoned decision, keeping all issues open.

Complete SEBI Compliance Calendar for Merchant Bankers

July 9, 2026 381 Views 0 comment Print

Comprehensive guide to SEBI merchant banker compliance covering filing deadlines, PIT, cybersecurity, accessibility, SBU and net-worth requirements.

Article 21 Overrides PMLA Section 45 After 275-Day Pre-Trial Detention: Karnataka HC

July 9, 2026 199 Views 0 comment Print

Karnataka HC granted PMLA bail after 275 days’ custody, holding Article 21 prevailed where trial had not progressed and delay was not attributable to accused.

GST Penalty U/s 122(1A) Unsustainable Where Director Retains No Benefit: Bombay HC

July 9, 2026 570 Views 0 comment Print

Bombay HC granted ad-interim protection against a Section 122(1A) CGST penalty, finding a prima facie case for an independent director.

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