News Updates
Direct tax
Laser Power & Infra: Section 271D Penalty Quashed
ITAT Kolkata dismissed all of the Revenue’s appeals for AYs 2017-18 to…
Harsha Jhaveri: Post-Demerger Stock Valuation Upheld
ITAT Ahmedabad dismissed the Revenue’s appeal. It upheld the deletion of the…
Tax Rules for Non-Profit Organisation Mergers
The amendment prescribes conditions for merging registered non-profit organisations with the same…
Bombay HC Quashes Grasim’s ₹329 Crore Tax Claim
The Bombay High Court quashed the reassessment proceedings against Grasim Industries concerning…
Indirect tax
GST Show Cause Notice Quashed for Invoking Omitted Rule 89(4B)
The High Court quashed a GST show cause notice dated 2 December…
57th GST Council Recommendations: Arrest Provisions, E-Way Bill Verification &…
CBIC directs that no further arrests may be carried out under GST…
Delay in filing appeal condoned on partner’s illness grounds
Book on Gst Condonation of delay with more than 500+ judgements.
Gauhati HC Adjourns GST Writ Petition Due to Petitioner’s Non-Appearance
The Gauhati High Court recorded the petitioner’s non-representation during the hearing, while…
Audit & accounting
SA 570 Guidance on Going Concern
The NFRA publication explains the responsibilities of management, audit committees, and statutory…
ICAI Releases 77th Report
The ICAI’s 77th Annual Report highlights the Institute’s key achievements, governance initiatives,…
ICAI’s Global Networking Guidelines
ICAI has issued the ICAI (Global Networking) Guidelines, 2025, prescribing the framework…
Compendium of Information Systems Audit Standards released by ICAI
The ICAI has released a Compendium of Information Systems Audit Standards consolidating…
Corporate Laws
IBBI Strengthens Real Estate Insolvency Resolution
The amendment adds project-wise requirements for records, fund utilisation, assessments and disclosures…
RBI Delegates FEMA Compounding to Regions
RBI Circular No. 28/2026-27 dated 23 October 2026 delegates specified FEMA compounding…
MCA Extends Annual Filing Fee Relief ; For AOC-4 series:…
The MCA permits companies to file financial statements for FY 2025–26 by…
SEBI Proposes Automatic MII Investment Route
The consultation paper proposes amendments to Regulations 38(2) of the SECC Regulations,…
SEBI Eases Margins After Early Pay-In
SEBI introduces a real-time margin waiver for subsequent buy or sell positions…
Banking & Finance
NBFC Stressed Assets Framework Amended
RBI has amended the NBFC Resolution of Stressed Assets Directions, 2026 to…
NBFC Credit Directions Amended
RBI has amended the NBFC Credit Facilities Directions, 2026 to revise the…
RBI ombudsman FAQs updated
RBI updates FAQs on Integrated Ombudsman Scheme, 2026 to clarify grievance redressal…
RBI streamlines NBFC registration surrender
Voluntary Surrender of Certificate of Registration by NBFCs (including HFCs) for Cancellation…
RBI eases NBFC compliance norms
RBI Grants Exemption to NBFCs with No Public Funds and No Customer…
Other laws
Rules Govern Court-Fee Penalties and Appeals
The rules establish the procedure for filing complaints, conducting inquiries, adjudicating penalties,…
SEZ Rules Ease IFSC Fund and Leasing Requirements
The Fourth Amendment to the SEZ Rules, 2006 introduces IFSC-specific provisions for…
EPFO Raises Statutory Wage Ceiling to ₹25,000
The FAQs explain the increase in the statutory wage ceiling from ₹15,000…
IFSCA Clarifies IFSC Complaint Redressal Process
The FAQs clarify the complaint-handling and grievance-redressal process applicable to IFSCA-regulated entities…
IFSCA Regulates Electronic Trading Platforms
The IFSCA Electronic Trading Platforms Regulations, 2026 establish a registration and regulatory…