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    February 17, 2026   Case Laws Customs
    Freedom to carry on trade is subject to reasonable restrictions; administrative circulars may be valid if non-arbitrary.
    February 17, 2026   Case Laws Customs
    Classification of imported metal as waste and scrap upheld where revaluation rested on unsupported usable-material claims.
    February 17, 2026   Case Laws Customs
    Wilful mis-statement or suppression of facts: penalty cannot be imposed for bona fide incorrect self-assessment based on exemption belief.
    February 17, 2026   Case Laws IBC
    Spectrum as public trust and licensing control prevent its inclusion in corporate insolvency estates under the IBC.
    February 17, 2026   Case Laws IBC
    Limitation and acknowledgement: restructuring and working capital acknowledgments can reset date of default, keeping a Section 7 filing timely.
    February 17, 2026   Case Laws IBC
    Threshold applicability in insolvency petitions limits relief when default date falls outside prescribed period, affecting interest claims.
    February 17, 2026   Case Laws IBC
    Sanctioned Scheme Binding precludes Section 7 admission where scheme sanction and appellate objections are pending; admission set aside.
    February 17, 2026   Case Laws Indian Laws
    Prima Facie Authorization: company's authorized employee representation cures initial defect and bars quashing when factual disputes remain.
    February 16, 2026   Case Laws Income Tax
    Dispute Resolution Panel directions under Section 144C cannot address objections after a final assessment; appeal must proceed uninfluenced.
    February 16, 2026   Case Laws Income Tax
    Jurisdictional validity of reopening notices: writ relief allowed where notice issued without AO jurisdiction, notice set aside.
    February 16, 2026   Case Laws Income Tax
    Tax Treaty Relief upheld: nil-rate certificate ordered, with procedural directions for future applications and PE findings.
    February 16, 2026   Case Laws Income Tax
    Reopening of assessment: AO must form independent subjective satisfaction; reliance solely on audit opinions invalidates reassessment.
    February 16, 2026   Case Laws Income Tax
    Business expense deductibility for independent contractor services upheld, allowing marketing and MIS contract costs when bona fide and reasonable.
    February 16, 2026   Case Laws Income Tax
    Gifts from Relatives accepted as genuine with identifying particulars; cash professional fees and partnership withdrawals accepted, additions deleted.
    February 16, 2026   Case Laws Income Tax
    Jurisdictional defect: assessment by a non jurisdictional officer is void ab initio, so the assessment was quashed.
    February 16, 2026   Case Laws Income Tax
    Penalty for inaccurate particulars denied where voluntary disclosure and bona fide DTAA difference of opinion removed liability.
    February 16, 2026   Case Laws Income Tax
    Venture capital undertaking eligibility under SEBI VCF Regulations affirmed, enabling tax exemption for qualifying fund investments.
    February 16, 2026   Case Laws Income Tax
    Found in the course of search: seized documents from others can support a 153A assessment, but absence of incriminating material voids it.
    February 16, 2026   Case Laws Income Tax
    Tax Deduction at Source liability: payer not in default if payee paid tax; interest payable until payee files return.
    February 16, 2026   Case Laws Income Tax
    Concessional tax regime entitlement upheld despite late return filing where option form was filed within the prescribed period; benefit granted.
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February 17, 2026   Case Laws Customs
Freedom to carry on trade is subject to reasonable restrictions; administrative circulars may be valid if non-arbitrary.
February 17, 2026   Case Laws Customs
Classification of imported metal as waste and scrap upheld where revaluation rested on unsupported usable-material claims.
February 17, 2026   Case Laws Customs
Wilful mis-statement or suppression of facts: penalty cannot be imposed for bona fide incorrect self-assessment based on exemption belief.
February 17, 2026   Case Laws IBC
Spectrum as public trust and licensing control prevent its inclusion in corporate insolvency estates under the IBC.
February 17, 2026   Case Laws IBC
Limitation and acknowledgement: restructuring and working capital acknowledgments can reset date of default, keeping a Section 7 filing timely.
February 17, 2026   Case Laws IBC
Threshold applicability in insolvency petitions limits relief when default date falls outside prescribed period, affecting interest claims.
February 17, 2026   Case Laws IBC
Sanctioned Scheme Binding precludes Section 7 admission where scheme sanction and appellate objections are pending; admission set aside.
February 17, 2026   Case Laws Indian Laws
Prima Facie Authorization: company's authorized employee representation cures initial defect and bars quashing when factual disputes remain.
February 16, 2026   Case Laws Income Tax
Dispute Resolution Panel directions under Section 144C cannot address objections after a final assessment; appeal must proceed uninfluenced.
February 16, 2026   Case Laws Income Tax
Jurisdictional validity of reopening notices: writ relief allowed where notice issued without AO jurisdiction, notice set aside.
February 16, 2026   Case Laws Income Tax
Tax Treaty Relief upheld: nil-rate certificate ordered, with procedural directions for future applications and PE findings.
February 16, 2026   Case Laws Income Tax
Reopening of assessment: AO must form independent subjective satisfaction; reliance solely on audit opinions invalidates reassessment.
February 16, 2026   Case Laws Income Tax
Business expense deductibility for independent contractor services upheld, allowing marketing and MIS contract costs when bona fide and reasonable.
February 16, 2026   Case Laws Income Tax
Gifts from Relatives accepted as genuine with identifying particulars; cash professional fees and partnership withdrawals accepted, additions deleted.
February 16, 2026   Case Laws Income Tax
Jurisdictional defect: assessment by a non jurisdictional officer is void ab initio, so the assessment was quashed.
February 16, 2026   Case Laws Income Tax
Penalty for inaccurate particulars denied where voluntary disclosure and bona fide DTAA difference of opinion removed liability.
February 16, 2026   Case Laws Income Tax
Venture capital undertaking eligibility under SEBI VCF Regulations affirmed, enabling tax exemption for qualifying fund investments.
February 16, 2026   Case Laws Income Tax
Found in the course of search: seized documents from others can support a 153A assessment, but absence of incriminating material voids it.
February 16, 2026   Case Laws Income Tax
Tax Deduction at Source liability: payer not in default if payee paid tax; interest payable until payee files return.
February 16, 2026   Case Laws Income Tax
Concessional tax regime entitlement upheld despite late return filing where option form was filed within the prescribed period; benefit granted.

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SEBI

Revised capital adequacy (net worth) and new liquid net worth...

Merchant bankers' revised net worth and liquid net worth rules set phased compliance deadlines, with auto downgrades and activity curbs.

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SEBI January 5, 2026 Circulars
Revised capital adequacy (net worth) and new liquid net worth requirements under the Merchant Bankers Regulations apply from 3 January 2026, with existing merchant bankers required to meet phased thresholds by 2 January 2027 and 2 January 2028, intimate their intended Category I/II by 2 January 2027 with a CA-certified net worth (including liquid net worth) certificate, and face automatic down-categorisation to Category II or a bar on fresh permitted activities for non-compliance. "Liquid net worth" is prescribed as unencumbered liquid assets subject to specified haircuts, and total underwriting obligations are capped at 20 times liquid net worth (existing entities to comply by 2 January 2028), with half-yearly CA certifications. Mandatory NISM certifications, separation of the compliance officer, five-year experience for the principal officer, prohibition on outsourcing core activities (legacy arrangements to end by 3 April 2026), minimum revenue thresholds with cancellation exposure from 1 April 2029, marketing-only conflict disclosures, and ring-fenced SBU conditions for non-regulated activities are specified with defined timelines and reporting.
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Acts Income Tax
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