The adjudicating authority held that non-filing of Form AOC-4 for consecutive years violates Section 137 of the Companies Act. Financial difficulty was rejected as a valid defence, and penalties were upheld against both the company and its officers.
Explains the CBDT notification granting section 10(46) exemption to a district legal services authority and the categories of income covered.
The notification substitutes valuation tables under the Customs Act, reaffirming tariff values for edible oils, precious metals and select commodities with effect from 6 February 2026.
The filing timeline for Annual RoDTEP Returns has been extended to 31 March 2026. Exporters must pay a ₹15,000 composition fee to avail the extended window and retain benefits.
Finished umbrella imports are now restricted unless the CIF value is ₹100 or above per piece. Export-linked units such as EOUs and SEZs remain exempt from the MIP condition.
The regulator has standardized margin treatment by denying expiry-day calendar spread benefits for single stocks. This provides time for clients to arrange margins or close positions.
SEBI has mandated additional safeguards in the depository pledge framework. The new rules ensure reasonable notice to pledgers and greater transparency during pledge invocation.
SEBI has modified the OTR framework to exempt certain equity option orders and market-maker algorithms from penalties. The changes aim to refine disincentives while maintaining oversight of algorithmic trading.
The High Court directed removal of a Chartered Accountant s name for one year after finding him guilty of Other Misconduct under the 1949 Act. ICAI implemented the order through official notification.
India’s tax laws are adapting to platforms, creators, and cross-border digital services. This piece explains how income-tax provisions, equalisation levy, and GST rules attempt to capture digital value and where complexity still hampers certainty and ease of compliance.
