The regulator has proposed a structured framework for how IFSC Banking Units may participate in remote booking arrangements. The key takeaway is tighter governance, transparency, and limits on retail and corporate loan bookings.
The government has notified a statutory local authority for income-tax exemption under Section 10(46A). The key takeaway is that qualifying development authorities can claim tax relief from AY 2024–25 if statutory conditions are met.
The notice refines eligibility to RBI-aligned credit, applies benefits only to post-02.01.2026 sanctions, and excludes deemed exports and NPAs—helping exporters understand who qualifies and when.
The issue concerned enforcing uniform quality standards for aluminum cookware and cans. The order mandates BIS certification with phased timelines, ensuring compliance while granting limited exemptions.
The High Court ruled that tax authorities cannot ignore a binding ITAT Special Bench decision under Section 264 merely because the department has appealed it. Judicial discipline requires adherence unless the ruling is stayed or overturned.
The Bombay High Court held that assignment of long-term leasehold rights in immovable property does not constitute a supply of services under the GST law. The Court quashed the GST demand, ruling that such transfers fall outside the scope of taxable supply.
The regulator held that handing over management and operations to the suspended board without CoC approval violates core CIRP duties. The key takeaway is that IRPs/RPs must retain control and seek approval or ratification for any delegation.
The regulator updates risk-weight norms for non-resident corporate exposures, linking capital requirements more closely to international credit ratings. The move aims to strengthen prudential discipline and risk sensitivity.
The order holds that non-filing of MGT-14 for approving financial statements violates Sections 117 and 179, attracting penalty under Section 450 with monetary fines on the company and directors.
The ruling examined whether a liquid embolic system qualifies as a medicament. It held that since the product acts mechanically by occluding vessels, classification under medicament heading was not applicable.
