The government granted tax exemption after recognizing the authority’s statutory foundation. The key takeaway is that legally constituted bodies can qualify for exemption under Section 10(46A).
The notification recognizes a statutory development authority as eligible for tax exemption under Section 10(46A). The key takeaway is that entities fulfilling public utility functions can secure exemption if properly notified.
CBIC introduced a payment aggregator to streamline customs duty payments. The circular allows multiple digital payment options and faster processing through the ECL system.
The amendment permits payment aggregators as a new mode of deposit in the electronic cash ledger. This expands digital payment options and improves ease of compliance.
The DGFT extended TRQ authorisations for gold imports under India-UAE CEPA citing geopolitical disruptions. The ruling ensures automatic extension without procedural requirements.
The amendment updates labelling requirements, including exemptions and clearer definitions for food products. It enhances traceability while easing compliance for certain categories.
Maharashtra Government has extended the time limit to file appeals before the Appellate Tribunal for orders communicated before April 1, 2026. The notification ensures taxpayers get a one-time relief window while maintaining standard timelines for new cases.
Non-adherence to Secretarial Standard-2 in maintaining AGM minutes resulted in penalties on the company and its officers. The authority rejected claims of procedural lapses being minor or inadvertent. The case emphasizes the binding nature of secretarial standards under company law.
The authority penalized incorrect classification of shareholders in Form MGT-7A. It held that errors in statutory filings attract liability even if later corrected.
Repeated failure to respond to MCA notices resulted in penalties and an ex-parte order. The authority emphasized accountability for statutory filing defaults. The case serves as a cautionary example of the consequences of regulatory non-engagement.
