Penalty u/s 271AAB - estimated cash addition not constituting undisclosed income - Penalty notice-non-specification of statutory charge Penalty under section 271AAB - estimated cash addition not constituting undisclosed income - Levy of penalty under section 271AAB on the cash addition sustained on judicial estimation. - HELD THAT: - The sustained addition was based on judicial estimation and not on seized material or an admission. The Tribunal held that it did not satisfy the statutory defin... ... ...

Validity of notice for penalty under section 271AAB - Communication of precise penalty charge - Validity of penalty under section 271AAB where the notices omitted the applicable statutory limb HELD THAT: - The notices did not specify the clause under which penalty was proposed. Adopting the co-ordinate Bench's reasoning, [2025 (1) TMI 273 - ITAT DELHI] the Tribunal held that a notice initiating penalty proceedings must communicate the precise charge so as to afford an effective opportunit... ... ...

Dismissal of the miscellaneous application for non-appearance HELD THAT:- The appeal was disposed of with liberty to seek restoration of the miscellaneous application within 30 days of receipt of the server copy - Tribunal was requested to consider such application on merits. The substantial questions of law were left open.... ... ...

Reassessment - information suggesting escapement of income - Interim continuation of reassessment proceedings for AY 2021-22, where the information regarding excess insurance commission routed through facilitators did not prima facie implicate the petitioner HELD THAT: - The information underlying the notice concerned excess commission allegedly routed through facilitators. The Court noted, prima facie, that there was no allegation that the petitioner was a facilitator and no information sugg... ... ...

Input tax credit - extended period for availment in respect of past supplies Implementation of the extended period for availment of input tax credit under newly inserted section 16(5) in respect of invoices or debit notes pertaining to the specified financial years - HELD THAT: - The controversy was held to be squarely covered by the earlier decision of the Court. Section 16(5), inserted through the Finance (No. 2) Act, 2024, permits availment of input tax credit for the specified financial y... ... ...

Revocation of cancellation of GST registration - Revocation of cancellation of GST registration for non-filing of returns, subject to payment of outstanding statutory dues HELD THAT: - Taking note of the determination of the co-ordinate Bench in similar circumstances and the consensus that restoration could be allowed upon payment of all dues, the Court interfered with the cancellation order. The authorities were directed to intimate the statutory dues outstanding up to the cancellation, upon... ... ...

Reasonable opportunity of personal hearing - Violation of natural justice in GST adjudication Validity of GST adjudication for tax period 2019-20 where the date fixed for personal hearing was the same as that fixed for filing reply - HELD THAT: - The undisputed procedure did not afford the petitioner an adequate opportunity to respond to the proposed demand and present its case. An adjudication made without such notice and reasonable opportunity is procedurally defective for breach of the rul... ... ...

IGST refund restriction under Rule 96(10) of the CGST Rules Applicability of the ruling striking down Rule 96(10) of the CGST Rules to the show-cause notice and the claim for refund of integrated tax - HELD THAT: - The Court held that the petition was directly and squarely covered by M/s Hikal Limited Vs. Union of India and others, [2026 (8) TMI 1280 - KARNATAKA HIGH COURT] wherein Rule 96(10) had been struck down and proceedings founded thereon had been quashed. That ruling was held applicab... ... ...

Anticipatory bail under the CGST Act - Communication of arrest authorisation Prematurity of anticipatory bail sought upon summons issued under the CGST Act in the absence of an order authorising arrest - HELD THAT: - An order under Section 69 of the CGST Act authorising arrest is the sine qua non for seeking anticipatory bail and must be communicated to the person concerned. As no such order had been passed and the Department undertook that any order, if warranted, would first be passed and c... ... ...

Interest on borrowings used for real-estate project work-in-progress is deductible where the developer follows the percentage-completion method: project work-in-progress is stock-in-trade, not an asset acquired for business extension and first put to use, so the proviso to Section 36(1)(iii) does not require capitalisation. For a temporary advance to a group concern, disallowance is limited to interest actually charged to profit and loss, particularly where interest-free funds substantially financed the advance. Any non-allowable interest must be removed from project work-in-progress to prevent a later deduction as project cost when revenue is recognised.

Form C in Schedule IV of the Information Technology (Certifying Authorities) Rules, 2000 is amended to include fields for official address, organisation, and organisational unit. These entries are placed after residential address and before the mobile phone number field. The amendment takes effect upon publication in the Official Gazette and expands the prescribed information fields within the certifying-authority framework.

Form C is inserted in Schedule IV to establish an electronic application process for issuance of an individual-class Digital Signature Certificate through Aadhaar-based identity verification. The application is automatically generated through Aadhaar e-KYC electronic authentication and requires the applicant's photograph, Aadhaar number, name, residential address, and Aadhaar e-KYC services reference number or response code as mandatory particulars.

Exceptional circumstances arising from hospitalisation after an accident and a resulting coma justified equitable writ relief against delay in challenging a service-tax adjudication order. The petitioner's incapacity to conduct business and consequent lack of awareness of the show-cause notice and adjudication order supported departure from the ordinarily available appellate remedy. Fresh adjudication on merits was made conditional on deposit of 25% of the disputed tax within the stipulated period.

Digital signature certification standards require SHA-2 and prescribed cryptographic key lengths of 2048 or 4096 bits, while SHA-1 certificates issued before commencement remain valid until expiry. Key-use requirements mandate periodic replacement of certifying authority and subscriber keys, reasonable notice to relying parties of new signing key pairs, and maximum validity periods of ten years for certifying authority key pairs and associated certificates and three years for subscriber key pairs and associated certificates.

The amendments require both the Digital Signature and its attached digital signature certificate to be stored or transmitted with the electronic record. Digital Signature Certificate verification must proceed through the Controller's self-signed certificate, the licensed Certifying Authority's public key certificate, and the subscriber certificate. The certificate revocation list must be checked for validity or revocation, and signature verification fails where any certificate in the trust chain is untrusted.

Financial stability is pursued by strengthening resilience rather than preventing every shock. The framework combines prudent regulation, risk-based supervision, stress testing, countercyclical macroprudential measures, targeted temporary liquidity assistance and resolution. Monetary policy remains directed to price stability, while financial-stability risks are addressed through regulatory, supervisory and macroprudential tools. System-wide resilience requires sound banks and NBFCs, reliable payment and technology infrastructure, robust data on interconnected exposures, scenario analysis, credible safety nets, and proactive proportionate oversight of cyber, model and third-party risks.

Jai Research Foundation is approved as a Research Association for scientific research under section 45(4)(b), for the purposes of section 45(3)(a)(i) and Income-tax Rules 32 and 33. The approval applies for tax years 2026-2027 through 2030-2031, subject to compliance with rule 33. For each tax year in which donations are received, the association must prepare and deliver Form 15 by 31 May following that tax year. It must also provide each donor with a Form 16 certificate specifying the donation amount.

Import of insecticides included in the Schedule to the Insecticides Act for non-insecticidal use, including acrylonitrile, requires an import permit under the amended Insecticides Rules. Applications must be filed with the Registration Committee in Form IA, supported by information on manufacturing use, storage, regulatory approvals, import history and consumption. The Committee may verify the information, process complete applications within the prescribed timeframe, and issue permits generally valid for one year or for three years where the importer holds pesticide-registration certification for raw-material use. Pending portal applications are subject to the revised requirements. Incomplete applications may be rejected, and permits may be cancelled for incorrect information. Small unit packs of certified reference materials or reference standards are exempt.

Trade Finance Sub-Committee composition is revised uniformly for all interventions under the Niryat Protsahan sub-scheme of the Export Promotion Mission. The committee is co-chaired by the Development Commissioner, Ministry of MSME, and the Additional Secretary for Trade Finance, Department of Commerce, with members representing trade finance, financial services, export promotion, internal finance, credit-guarantee and export-finance functions. The EPM-section Joint DGFT serves as convenor. Representatives of export credit insurance, banking, financial-services centres and factoring entities participate as invitees. The committee may co-opt additional participants and engage trade-finance experts or industry representatives for technical appraisal. All other existing provisions remain unchanged.

NRD-CSR (R012) reporting for banks maintaining non-resident deposit accounts is conducted through the CIMS Sankalan portal, replacing the earlier XBRL-based submission framework. Banks must report bank-wise consolidated data using the revised NRD-CSR format, maturity codes, record types and validation checks. Returns may be submitted through system-to-system integration, XML file upload, or a screen-based web form; access and reporting channels are managed through CIMS. Monthly returns must be submitted by the 10th day of the following month. The directions are issued under the Foreign Exchange Management Act, 1999, without affecting approvals required under other laws.