Budget 2026 introduces sweeping retrospective amendments affecting limitation, reassessment jurisdiction, DIN validity, and TPO timelines. The changes directly impact ongoing appeals, rectification, revision, and reassessment proceedings, altering litigation strategy for taxpayers and authorities alike.
The Supreme Court held that the UGC is the competent authority to determine consequences of questionable technical degrees obtained through distance education. Universities must furnish student details for further action.
Maharashtra GST Dept cancels GST registrations of non-genuine taxpayers as of Feb 2025; details include GSTNs, trade names, and cancellation info.
ICSI declared Professional and Executive Programme results for December 2025 with detailed pass percentages and rank holders. Online enrolment for June 2026 exams has commenced.
BCAS urged SEBI to introduce a structured migration framework for individuals converting into corporate/LLP Research Analyst entities. The representation highlights business disruption and regulatory uncertainty caused by absence of transitional provisions.
GSTN has introduced auto-computation of interest and auto-population of liability breakup in GSTR-3B from January 2026. The update strengthens system-based compliance and limits manual discretion in interest reporting.
The High Court will examine whether bail granted under the Section 45 proviso for women can be cancelled absent perversity or misuse of liberty.
The Ministry of Corporate Affairs has introduced CCFS-2026 allowing companies to file pending annual returns by paying only 10% of additional fees. The scheme offers a one-time compliance relief from 15 April to 15 July 2026.
Major updates include GST refund clarification by Supreme Court, RBI FEMA amendments, DGFT export schemes, and important AAR rulings.
The Bombay High Court held that failure to furnish a lender’s certificate cannot justify reopening of assessment for a let-out property. It clarified that the certificate requirement under Section 24(b) applies only to self-occupied properties.
