The framework confirms that the new law only restructures and simplifies provisions without introducing new taxes. It ensures clarity, ease of compliance, and continuity of taxpayer obligations.
The Tribunal held that even a marginal increase in ITC must be passed on to buyers. Failure resulted in refund liability with interest under Section 171. The ruling confirms that interest is payable from the date of excess collection. Arguments to defer interest to project completion were rejected.
The director voluntarily disclosed the violation and surrendered the duplicate DIN. The authority reduced the penalty to 25% of the maximum due to non-repetitive default. This highlights the benefit of proactive compliance.
Even though the duplicate DIN was surrendered, the violation period attracted penalty. The ruling clarifies that rectification does not eliminate liability for past default. Timely compliance is essential.
The authority proposed registration, governance, and compliance norms for TCSPs supporting leasing transactions in IFSC. The framework seeks to align the ecosystem with global aircraft leasing hubs.
The proposed rules establish a comprehensive conduct framework for CCI employees, including integrity, conflict-of-interest controls, and restrictions on disclosures of confidential information.
The authority penalized the Managing Director for incorrectly reporting the AGM date in MGT-7. It held that even clerical errors violate Rule 8(3), attracting Section 450 where no specific penalty exists.
The authority penalized the company for failing to hold the required fourth Board Meeting. It clarified that absence of a specific penalty provision attracts Section 450 as a residual penalty.
GSTN clarified that from February 2026 taxpayers must confirm the auto-populated “Tax Liability Breakup” in GSTR-3B before filing the return, even though a system issue currently requires confirmation in all cases.
Banks holding currency chests were instructed to function normally on March 31, 2026, despite the holiday. The directive supports timely settlement of government transactions before the financial year closes.
