Gauhati High Court granted bail in a GST arrest case, ruling the arrest violated mandatory Section 35(3) BNSS and Arnesh Kumar guidelines due to failure to issue prior notice or record specific written justification.
Delhi ITAT deleted a 69C unexplained expenditure addition for alleged bogus purchases, ruling that when corresponding sales are accepted and payments made via banking channels, the purchase cannot be disallowed without tangible proof of manipulation.
Delhi District Court dismissed Mehmood Pracha’s plea to nullify the Ayodhya verdict, enhancing the cost on the senior lawyer to ₹6 lakh for frivolous litigation and abuse of process.
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SEBI has directed that mutual funds cannot invest in private share placements before a company’s IPO, limiting participation to the public issue or anchor allocation to protect investors.
Karnataka High Court directs refund of ₹10 crores collected during GST search, holding the payment involuntary and not valid under Section 74(5) of the CGST Act.
ITATs confirm CSR donations to 80G-approved bodies are deductible, asserting that the bar under Section 37(1) doesn’t override Section 80G or Section 35. PCIT revisions quashed.
Summary of notifications & circulars from Income Tax, GST, Customs, DGFT, SEBI, RBI, IBBI, MCA, and SC judgments issued during 20–26 Oct 2025 for compliance reference.
GST Rule 86B mandates taxpayers with over Rs.50 lakh monthly taxable turnover to pay a minimum of 1% of their liability in cash, limiting ITC usage to 99%. Non-compliance risks registration cancellation. The rule faces legal challenge.
NBFC-MFI shifts to NBFC-ICC to diversify loans, including secured and unsecured credit. RBI norms, NOF ₹10 crore, and compliance guide the transition.
