Notional partners' capital entries and post-set-up business expenses were held outside section 68 and deductible, respectively.
Double taxation barred for forfeited unsecured loans already offered to tax in a later year, so the section 68 addition was deleted.
Advance tax default must be judged by law in force at payment time, not by later retrospective changes.
Customs valuation of used garments requires comparability proof, while restricted imports without a licence justify proportionate confiscation and pen...
Preferential customs duty benefit protected by valid origin certificates unless statutory verification invalidates them.
Specific IGST entry for plain shaft bearings prevails over general tariff treatment, securing the lower 18% rate.
Continuing guarantee, limitation and proof of default were upheld in personal guarantor insolvency proceedings; bias allegation left open.
Liquidation process reforms tighten creditor control, shorten timelines, and restrict asset sales and filings under updated IBBI regulations.
Bankruptcy process for personal guarantors is amended with new asset-transfer coordination, creditor approval, and circular-notified forms.
Personal guarantor insolvency rules expand asset disclosure, replace forms by circular, and add transfer coordination safeguards.
Voluntary liquidation rules updated with claim deadlines, reasoned rejection of claims, and a new termination framework.
Pre-packaged insolvency filing requirements updated with Board-notified formats and revised document disclosures for applicants.
Information Utilities rules updated to replace schedule forms with Board-notified formats and refine dispute authentication records.
Inspection and investigation rules amended to broaden references, clarify disciplinary directions, and replace Form A with notified format.
Countervailing duty on textured tempered glass from Malaysia renewed for five years, with producer-specific rates and invoice conditions.
QCO exemption for SEZ imports now extends to permissible goods, with DTA clearance still subject to BIS compliance.
Export policy alignment notice seeks comments on wide-ranging HS code and chapter note updates under Finance Act 2026.
Risk-based vessel boarding at JNCH shifts Customs checks to advance profiling and strengthens Master and Agent declaration duties.
Manual Customs Pass validity extended for Customs Brokers, with QR code pass conditions otherwise unchanged.
FTP interpretation references must be routed through Customs channels, with direct DGFT correspondence barred and pending clearances minimised.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
