Additional receipts from flooring and furnishing work are characterised as business receipts, requiring estimation of taxable profit rather than assessment of the full gross receipt as undisclosed income. Taxable income from those receipts is estimated at 20%. Cash found during search is not fully assessable as unexplained merely because the cash book was not updated on the search date. Explanations based on cash withdrawals, existing cash-in-hand and trading receipts may be furnished during assessment, while a limited addition may be retained for any unexplained component.

Cash deposits in a bank account omitted from financial statements may be assessed as unexplained investment where the taxpayer fails to establish a credible source. Source evidence that does not withstand verification, including agreements containing dates inconsistent with the claimed transaction period, does not satisfactorily explain the deposits. Section 69 therefore applies to deposits for which no reliable explanation is proved.

Suppressed sales constitute turnover rather than income, so taxation is confined to the profit embedded in those sales. Where liquor stock is sold at discounted rates before licence expiry and variant-wise sales data are unavailable, profit may be estimated from purchase costs. A 3% profit rate on total purchase cost is treated as a reasonable basis for quantifying the taxable addition, rather than assessing the entire alleged suppressed-sales amount.

Section 263 revision cannot enlarge the matters available for examination in a limited-scrutiny assessment restricted to verification of cash-deposit sources. Interest-income discrepancies and possible deemed-dividend matters falling outside that scope cannot be introduced indirectly through revision. For issues within the stated scrutiny scope, revision requires an assessment that is both erroneous and prejudicial to Revenue interests. Verification of cash capital introduction by the Assessing Officer, supported by an unrebutted explanation that it represented a joint-venture member's contribution, does not meet that standard. The principles distinguish impermissible expansion of limited scrutiny from valid review of an inadequately examined in-scope issue.

The Finance Act, 2018 introduced a five per cent tolerance band for differences between sale consideration and stamp-duty value under the property-valuation deeming provisions in sections 43CA, 50C and 56. Treated as a beneficial, curative amendment, the tolerance band applies retrospectively to Assessment Year 2018-19. Accordingly, a variation below that threshold does not create deemed income under section 56(2)(x), preventing an addition based solely on the stamp-duty valuation difference.

Residual disallowance of purchases as bogus under Section 37(1) was unwarranted where invoices, lorry receipts, e-way bills, material receipt notes and bank-payment records supported the transactions. E-way bills and transport records evidenced movement and delivery of goods to the project site. Rough seized notings concerning estimated site expenses and an unrelated third party's statement did not displace the contemporaneous documentary evidence. As the purchases had been accepted as genuine for the full amount, the residual disallowance was deleted.

For unsecured loans assessed under section 68, creditor names, addresses, PANs, tax returns, audited accounts, loan confirmations, MCA records, bank statements and replies to section 133(6) notices support identity, creditworthiness and transaction genuineness. Accounting for interest with tax deduction at source and subsequent repayment further support the loan credits. Characterising creditors as shell entities alone, without contrary enquiry or material that discredits the evidence, does not justify treating documented loans as unexplained cash credits.

Renewal of charitable registration cannot be refused solely because a long-established educational institution lacks a formal trust deed or memorandum of association. Where a charitable trust was formed otherwise than under a written instrument, the relevant inquiry is whether available records adequately establish its creation and continuing charitable character. Public-trust registration, prior tax registrations, uninterrupted educational activity and contemporaneous records may provide that evidence. Consistent recognition of charitable status should not be displaced without a material change in facts or law, particularly where there is no adverse finding on objects, genuineness of activities, diversion of activities or legal compliance.

Assessment-related order for 2018-2019 could not be sustained where the petitioner required a further effective opportunity to produce and verify relevant books, documents and bank statements. Although a personal-hearing date had been fixed, the disputed question whether an effective hearing occurred need not be resolved before granting that opportunity. A fresh determination must follow advance notice of the hearing date, an opportunity of hearing, and consideration of the relevant material.

Challenge to the order under Section 74 was confined after the appellant gave up challenges to the notification and statutory provisions. The abandoned relief was struck off, and the matter was directed to be listed for further hearing. No determination on the validity of the notification or statutory provisions was recorded at that stage.

Section 107(11) requires the appellate authority to make any necessary inquiry and pass a just and proper order confirming, modifying or annulling the challenged decision. This statutory duty does not permit dismissal of an appeal for default or non-prosecution. Non-appearance may justify an ex parte determination, but the appeal must still be decided on its merits. The provision is analogous to the Central Excise appellate framework, under which dismissal for want of prosecution is likewise impermissible.

Section 75(7) of the Uttar Pradesh GST Act confines an adjudication order to the tax and penalty amounts proposed in the show-cause notice. Confirmation of tax demands or equal penalties exceeding those specified in the notice travels beyond the scope of adjudication and constitutes a jurisdictional error apparent from the record. Orders imposing higher liabilities than the notified proposals are therefore jurisdictionally defective.

GST refund administration is proposed to use phased risk-based system processing, with acknowledgement or deficiency action within ten days, deemed acknowledgement on inaction, automated provisional refund for eligible low-risk zero-rated and inverted-duty claims, and fully automated refund of excess electronic cash-ledger balances. Validation failures require correction and fresh filing or referral for officer scrutiny, while final scrutiny remains applicable in specified cases. Applicants must file all due returns and submit supporting material electronically. Delayed-refund interest applies beyond the statutory period, and eligible input-service and capital-goods credit is proposed to be included in prescribed refund computations.

PM GatiShakti National Master Plan uses an integrated geospatial planning framework to coordinate infrastructure, economic and social-sector development. The framework supports multimodal connectivity, intermodal links, last-mile access, project appraisal and synchronised implementation. It has expanded to district-level planning for local services and is supported by public-access, knowledge-sharing, decentralised data-management and monitoring systems. The Integrated Transport and Logistics Authority is intended to strengthen transport and logistics research, planning, appraisal, monitoring and impact assessment.

Expedited import authorisation may be issued for restricted silver items, excluding silver dore, where applicants self-declare that imports will bear customs duty at the generally applicable rate without concessions. Applications must be completed online with mandatory particulars and justification of proposed quantities and values, and applicants remain responsible for accuracy. Authorisations require procurement through the India International Bullion Exchange or notified nominated banks or agencies, remain subject to policy and statutory requirements and scrutiny, and are valid for six months without extension.

Disallowance of printing expenditure increases regular business profits, and the resulting enhanced profits remain eligible for the applicable Chapter VI-A deduction under CBDT Circular No. 37/2016. Where eligibility for deduction under Section 80P is undisputed, a disallowance under Section 40(a)(ia) does not provide a sustainable basis for denying the corresponding deduction. The enhanced business income therefore continues to qualify for the cooperative-society deduction.

The minimum import price condition on imports of Glufosinate and its salts under specified Chapter 38 ITC (HS) classifications is extended until 12 April 2027. All other terms and conditions applicable under the earlier notification imposing the condition remain unchanged. The extension maintains the existing import-policy restriction for covered Glufosinate products.

Common Advertisement Code will govern advertisements by stock brokers, depository participants, online bond platform providers, investment advisers, research analysts, mutual funds, asset management companies and portfolio managers for products or services within SEBI's remit, taking effect 180 days after Gazette publication. Advertisements must identify the regulated entity and carry prescribed disclaimers. Educational or factual communications remain outside the definition only if they do not promote or solicit products or services. Celebrity endorsements require prior approval, must be limited to entity or brand promotion, and cannot be charged to clients or mutual fund schemes. Advertisements must be fair and comprehensible, avoid induc.....

Mutual fund regulatory references to the Fifth Schedule are replaced with references to Chapter IIID of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008. The amendment updates regulation 28 and regulation 81(l) and omits the Fifth Schedule from the Mutual Funds Regulations, 2026. These changes take effect 180 days after publication in the Official Gazette, consolidating the relevant requirements under the Intermediaries Regulations framework.

Research analyst regulations now define "institutional investor" by adopting the meaning used in the capital-issue and disclosure framework. Research analysts are no longer mandatorily required to maintain recordings of calls with clients that are institutional investors. The exemption is confined to call-recording obligations for communications with such clients. These amendments take effect on the thirtieth day following publication in the Official Gazette.