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    July 10, 2026   Notifications Customs
    BCD exemption for wireless charging module inputs extended to specified components used in cellular mobile phone manufacturing.
    July 10, 2026   Notifications Customs
    BCD exemption for specified display assembly inputs extended for automotive, medical and industrial applications, with defined exclusions and sunset d...
    July 10, 2026   Notifications SEBI
    Custodian fee structure shifts from annual to monthly payment, with revised billing and transition rules
    July 10, 2026   Notifications SEBI
    FPI fee and registration regime revised with rupee-based amounts, new disclosure fields, and remittance timelines.
    July 10, 2026   Notifications SEBI
    Intraday borrowing permitted for mutual funds to manage timing mismatches between scheme inflows and outflows, subject to SEBI conditions.
    July 10, 2026   Notifications Customs
    Anti-dumping duty on seamless steel tubes from China PR extended until 27 January 2027, unless amended earlier.
    July 10, 2026   Notifications SEBI
    SEBI buy-back rules tightened with new limits, disclosure timelines, shareholder intimation and promoter freeze requirements.
    July 10, 2026   Notifications SEBI
    SEBI amends securitised debt regulations to tighten board control, related-party limits, and investor-protection disclosures.
    July 10, 2026   Circulars DGFT
    Tariff Rate Quota allocation under India-UK CETA notified for vehicles, with online applications, eligibility rules, and customs conditions.
    July 10, 2026   Circulars Companies Law
    CCFS-2026 validity extended, giving companies more time to complete pending statutory filings under the compliance scheme.
    July 10, 2026   Circulars GST - States
    GST jurisdiction after taxpayer migration: prior valid actions remain effective, and the transferee authority must continue proceedings.
    July 10, 2026   Case Laws GST
    Statutory refund interest limited to notified rate, so higher pre-deposit interest claim was rejected in appeal.
    July 10, 2026   Case Laws GST
    Successive bail on parity fails without substantial change in circumstances, especially in alleged economic offences involving GST evasion.
    July 10, 2026   Case Laws GST
    Retrospective Rule 89(5) amendment allows refund processing for unutilised input tax credit on input services
    July 10, 2026   Case Laws GST
    Mandatory Rule 88C intimation controls GST recovery for mismatch between returns before garnishee action can proceed.
    July 10, 2026   Case Laws GST
    Essential character test keeps cured tobacco leaves within the GST entry despite grading and bundling, preserving concessional rate.
    July 10, 2026   Case Laws GST
    E-rickshaw CKD/SKD classification depends on a complete kit and consistent commercial records for finished vehicle GST rate
    July 10, 2026   Case Laws GST
    GST treatment of DMF and NMET mining contributions turns on royalty linkage and later exemption clarification
    July 10, 2026   Case Laws GST
    GST exemption for authorised service providers fails where user charges are collected over and above statutory fees.
    July 10, 2026   Case Laws Income Tax
    Prospective valuation amendment limits reassessment: unamended fair market value reference could not justify reopening based on a registered valuer's ...
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July 10, 2026   Notifications Customs
BCD exemption for wireless charging module inputs extended to specified components used in cellular mobile phone manufacturing.
July 10, 2026   Notifications Customs
BCD exemption for specified display assembly inputs extended for automotive, medical and industrial applications, with defined exclusions and sunset date.
July 10, 2026   Notifications SEBI
Custodian fee structure shifts from annual to monthly payment, with revised billing and transition rules
July 10, 2026   Notifications SEBI
FPI fee and registration regime revised with rupee-based amounts, new disclosure fields, and remittance timelines.
July 10, 2026   Notifications SEBI
Intraday borrowing permitted for mutual funds to manage timing mismatches between scheme inflows and outflows, subject to SEBI conditions.
July 10, 2026   Notifications Customs
Anti-dumping duty on seamless steel tubes from China PR extended until 27 January 2027, unless amended earlier.
July 10, 2026   Notifications SEBI
SEBI buy-back rules tightened with new limits, disclosure timelines, shareholder intimation and promoter freeze requirements.
July 10, 2026   Notifications SEBI
SEBI amends securitised debt regulations to tighten board control, related-party limits, and investor-protection disclosures.
July 10, 2026   Circulars DGFT
Tariff Rate Quota allocation under India-UK CETA notified for vehicles, with online applications, eligibility rules, and customs conditions.
July 10, 2026   Circulars Companies Law
CCFS-2026 validity extended, giving companies more time to complete pending statutory filings under the compliance scheme.
July 10, 2026   Circulars GST - States
GST jurisdiction after taxpayer migration: prior valid actions remain effective, and the transferee authority must continue proceedings.
July 10, 2026   Case Laws GST
Statutory refund interest limited to notified rate, so higher pre-deposit interest claim was rejected in appeal.
July 10, 2026   Case Laws GST
Successive bail on parity fails without substantial change in circumstances, especially in alleged economic offences involving GST evasion.
July 10, 2026   Case Laws GST
Retrospective Rule 89(5) amendment allows refund processing for unutilised input tax credit on input services
July 10, 2026   Case Laws GST
Mandatory Rule 88C intimation controls GST recovery for mismatch between returns before garnishee action can proceed.
July 10, 2026   Case Laws GST
Essential character test keeps cured tobacco leaves within the GST entry despite grading and bundling, preserving concessional rate.
July 10, 2026   Case Laws GST
E-rickshaw CKD/SKD classification depends on a complete kit and consistent commercial records for finished vehicle GST rate
July 10, 2026   Case Laws GST
GST treatment of DMF and NMET mining contributions turns on royalty linkage and later exemption clarification
July 10, 2026   Case Laws GST
GST exemption for authorised service providers fails where user charges are collected over and above statutory fees.
July 10, 2026   Case Laws Income Tax
Prospective valuation amendment limits reassessment: unamended fair market value reference could not justify reopening based on a registered valuer's report.

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Income Tax

Penalty u/s 271(1)(c) was imposed for disallowance of...

Depreciation on non-compete fees allowed. Divergent HC views. Supreme Court to decide. Penalty u/s 271(1)(c) can't be imposed.

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Income Tax July 26, 2024 Case Laws AT
Penalty u/s 271(1)(c) was imposed for disallowance of depreciation on non-compete fees. The CIT(A) relied on Sharp Business System [2012 (11) TMI 324 - Delhi High Court], which is under challenge before the Supreme Court. Pepsico India Holding Pvt. Ltd. [2024 (4) TMI 1154 - Delhi High Court] allowed depreciation on non-compete fees after considering Sharp Business System. Different High Courts have divergent views on allowability of depreciation on non-compete fees, and the matter is pending before the Supreme Court. Considering the contentious issue, provisions of Section 271(1)(c) cannot be attracted. Assessee's appeal allowed.
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Acts Income Tax
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