Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Reporting and tagging requirements for stock brokers are relaxed by exempting demat accounts used exclusively for non-broking activities where the broker is also a primary dealer, while brokers that are also banks or primary dealers need report only the bank accounts used for stock broking. The earlier requirement to report demat accounts is deleted, while all new bank and demat accounts must still follow the prescribed nomenclature. Stock exchanges and depositories must receive details of bank accounts within seven working days, and depositories must share details of demat accounts opened or closed by a broker with the concerned exchange. Non-compliance attracts penal action, and the revised provisions take effect from 17 April 2026.
Reporting and tagging requirements for stock brokers are relaxed by exempting demat accounts used exclusively for non-broking activities where the broker is also a primary dealer, while brokers that are also banks or primary dealers need report only the bank accounts used for stock broking. The earlier requirement to report demat accounts is deleted, while all new bank and demat accounts must still follow the prescribed nomenclature. Stock exchanges and depositories must receive details of bank accounts within seven working days, and depositories must share details of demat accounts opened or closed by a broker with the concerned exchange. Non-compliance attracts penal action, and the revised provisions take effect from 17 April 2026.
Note: It is a system-generated summary and is for quick reference only.
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