Corporate liquidation process: priority for rescue via compromise or going concern sale with stakeholder oversight and timelines.
The paper proposes preserving value in liquidation by prioritising rescue via compromise or arrangement and by enabling structured Going Concern Sale options-either transfer of the corporate debtor as an entity with issuance of share capital to the acquirer or transfer of the business with dissolution-supported by time bound procedures, valuation and packaging rules, secured creditor relinquishment timelines, employee protection, and a Stakeholders Consultation Committee to advise the liquidator while the liquidator retains ultimate decision authority.

Search and seizure operations uncover undisclosed income channels and off book transactions in a pharmaceutical distribution network.
Search and seizure operations against a monopoly pharmaceutical distributor produced documentary and digital material indicating systematic concealment of income, off book sales proceeds used to suppress profits, diversion of abnormal profits into real estate and family expenditure, and discovery of an undisclosed bank account and multiple bank lockers channeling unaccounted receipts.

Tax evasion exposed through coordinated search and seizure revealing shell-company schemes and cross-border fund layering.
A coordinated search and seizure on a power-sector group uncovered systemic concealment of income through shell companies, accommodation entries and bogus loans, extensive bogus billing and out-of-books cash receipts, over-invoicing and round-tripping of imports, and use of foreign operators to park unaccounted remittances and purchase property abroad, with seizure of unaccounted assets and detection of large-scale tax non-compliance.

Profit attribution to Permanent Establishment: stakeholders invited to comment on Committee report and proposed Rule 10 changes.
The press release invites stakeholder comments on a Committee report examining profit attribution to a Permanent Establishment under the tax-treaty business-profits provision and corresponding domestic law, including proposed changes to Rule 10 of the Income-tax Rules, 1962. The report addresses attribution where PE accounts are unavailable and the Assessing Officer's role in determining profits. The Committee's recommendations have been published and stakeholders may submit electronic comments within thirty days to the specified departmental email.

Tariff valuation revised for specified edible oils, metals and agricultural commodities, updating customs assessment values.
The Board, invoking section 14(2) of the Customs Act, amends Notification No. 36/2001 Customs (N.T.) by substituting three tables that fix tariff values for specified imports: TABLE 1 sets per metric tonne values for various edible oils, brass scrap and poppy seeds; TABLE 2 sets unit values for gold and silver where specified benefits are claimed; and TABLE 3 sets the per metric tonne value for areca nuts, thereby updating customs valuation benchmarks.

Search and seizure in tax probe uncovers unexplained cash at a professional's residence during an election-related inquiry.
A tax authority executed a search at the residence of a freelance cost accountant following an intelligence tip that cash was being held for election use; the accountant later disclosed providing services to an identified Member of Parliament and a substantial sum of unexplained cash was seized. The enforcement action was limited to the accountant's residence and did not extend to premises of the political figure.

Unaccounted cash and hawala transfers prompt large-scale searches revealing bogus billing and benami property links.
Search and seizure action recovered cash, liquor, arms and records documenting collection and disbursement of unaccounted cash, revealed transfers through hawala to a political party headquarters, and identified a cash book evidencing extensive unaccounted transactions, siphoning via bogus billing, use of companies in tax havens, and suspected benami properties at high value locations.

Aadhaar PAN linking requirement: taxpayers must quote Aadhaar when filing returns; linking deadline extended for exemptions.
CBDT clarifies that the cut off date for Aadhaar PAN linking is extended to a later deadline for those not specifically exempted, while making it mandatory to quote the Aadhaar number when filing income tax returns from the start of the current compliance period, unless specifically exempted.