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Tax Updates - Daily Update https://www.taxtmi.com One stop solution for Direct Taxes and Indirect Taxes and Corporate Laws in India Business/Tax/Law/GST/India/Taxation/Policies/Legal/Corporate Tax/Personal Tax/Vat Law/Legal Information/Tax Information/Legal Services/Tax Services TaxTMI.Com / MS Knowledge Processing Pvt. Ltd. All rights reserved. Fri, 09 Oct 2026 20:27:44 +0530 en-us webmaster@taxtmi.com editor@taxtmi.com 60 Allocation of quantity 5,841 MT of Sugar by EU for export from India under TRQ for the year 2026-27 (October 2026 to September 2027) https://www.taxtmi.com/circulars?id=71552 https://www.taxtmi.com/circulars?id=71552 Fri, 09 Oct 2026 20:27:44 +0530 Customs Circulars TaxLaws TaxTMI Amendment to Para 4.49 of FTP-2023 https://www.taxtmi.com/notifications?id=147249 https://www.taxtmi.com/notifications?id=147249 Fri, 09 Oct 2026 20:27:44 +0530 Customs Notifications TaxLaws TaxTMI Non-availability of RoDTEP benefits in respect of exports made under DutyFree Import Authorization (DFIA) Scheme https://www.taxtmi.com/circulars?id=71545 https://www.taxtmi.com/circulars?id=71545 Fri, 09 Oct 2026 20:27:44 +0530 Customs Circulars TaxLaws TaxTMI 15th Meeting of ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee held during 6-9 October 2026 https://www.taxtmi.com/news?id=75067 https://www.taxtmi.com/news?id=75067 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws News TaxTMI Commerce Secretary Shri Rajesh Agrawal Highlights Need for Rigorous Legal Thinking at CTIL’s 9th Anniversary Celebration https://www.taxtmi.com/news?id=75066 https://www.taxtmi.com/news?id=75066 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws News TaxTMI Is GST under RCM applicable on Borrowing Cost?. https://www.taxtmi.com/article/detailed?id=17549 https://www.taxtmi.com/article/detailed?id=17549 Fri, 09 Oct 2026 20:27:44 +0530 GST Articles TaxLaws TaxTMI Submission of Documents for finalization of Project Imports registered with Chennai Customs House https://www.taxtmi.com/circulars?id=71547 https://www.taxtmi.com/circulars?id=71547 Fri, 09 Oct 2026 20:27:44 +0530 Customs Circulars TaxLaws TaxTMI Release of Draft Guideline for Compilation Gross State Domestic Product (GSDP) Estimates by Expenditure Approach with Base Year 2022-23 https://www.taxtmi.com/news?id=75065 https://www.taxtmi.com/news?id=75065 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws News TaxTMI Implementation of ICES Advisory No. 37/2026 and ICES Advisory No. 38/2026 regarding amendment of CSN (SCA), SAM (SAA) and related SCMTR messages https://www.taxtmi.com/circulars?id=71548 https://www.taxtmi.com/circulars?id=71548 Fri, 09 Oct 2026 20:27:44 +0530 Customs Circulars TaxLaws TaxTMI Advisory on Process of amending CSN(SCA)/SAM(SAA) https://www.taxtmi.com/circulars?id=71549 https://www.taxtmi.com/circulars?id=71549 Fri, 09 Oct 2026 20:27:44 +0530 Customs Circulars TaxLaws TaxTMI Enhanced Rate of Tax u/s 115BBE: Survey Surrenders of Excess Stock and Cash: Business Income, Deemed Income https://www.taxtmi.com/tmi_notes?id=2547 https://www.taxtmi.com/tmi_notes?id=2547 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Notes TaxLaws TaxTMI Income-tax (Sixth Amendment) Rules, 2026 - Application seeking immunity from imposition or waiver of penalty https://www.taxtmi.com/notifications?id=147231 https://www.taxtmi.com/notifications?id=147231 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Notifications TaxLaws TaxTMI Dabhol Port customs designation now covers LNG, power-project cargo, shipyard imports, repairs and exports at the designated port. https://www.taxtmi.com/highlights?id=104799 https://www.taxtmi.com/highlights?id=104799 Fri, 09 Oct 2026 20:27:44 +0530 Customs Highlights TaxLaws TaxTMI Verifiable consent and data audit obligations are clarified through targeted textual corrections to the Digital Personal Data Protection Act. https://www.taxtmi.com/highlights?id=104798 https://www.taxtmi.com/highlights?id=104798 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Highlights TaxTMI Compulsory registration for smartphone screen protectors begins after conformity with the prescribed Indian Standard becomes mandatory. https://www.taxtmi.com/highlights?id=104797 https://www.taxtmi.com/highlights?id=104797 Fri, 09 Oct 2026 20:27:44 +0530 Customs Highlights TaxLaws TaxTMI ISIN maturity caps for privately placed debt expand, with separate limits, legacy grandfathering, and exclusions for specified instruments. https://www.taxtmi.com/highlights?id=104796 https://www.taxtmi.com/highlights?id=104796 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Highlights TaxTMI Credit Risk-o-Meter disclosure becomes mandatory across debt-security offer materials, advertisements, and bond platforms using colour-coded ratings. https://www.taxtmi.com/highlights?id=104795 https://www.taxtmi.com/highlights?id=104795 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Highlights TaxTMI NLMC Invites Bids for Monetisation of 5.119-Acre Prime Freehold Land Parcel of HIL (India) Limited in New Delhi https://www.taxtmi.com/news?id=75064 https://www.taxtmi.com/news?id=75064 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws News TaxTMI Temporary permission for supplementary filing or amendments of CSN/SCA/SAA/SAM/SDA/SDM/SCE in respect of console cargo under SCMTR https://www.taxtmi.com/circulars?id=71551 https://www.taxtmi.com/circulars?id=71551 Fri, 09 Oct 2026 20:27:44 +0530 Customs Circulars TaxLaws TaxTMI Operational Advisory Technical Clarifications: FAQs for Trade Stakeholders- Guidance on CSN, SAM, SAA Amendments, Flag Mapping, Schema Validations https://www.taxtmi.com/circulars?id=71550 https://www.taxtmi.com/circulars?id=71550 Fri, 09 Oct 2026 20:27:44 +0530 Customs Circulars TaxLaws TaxTMI Retention of Seized Mobile Phones and Bank Debit Cards Beyond the Section 67(7) Period https://www.taxtmi.com/tmi_notes?id=2546 https://www.taxtmi.com/tmi_notes?id=2546 Fri, 09 Oct 2026 20:27:44 +0530 GST Notes TaxLaws TaxTMI Automated allocation governs reassessment notices, while retrospective validation cannot override unamended faceless jurisdictional requirements under the statutory scheme. https://www.taxtmi.com/highlights?id=104754 https://www.taxtmi.com/highlights?id=104754 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Doctrine of merger distinguishes refusal of special leave from appellate adjudication, preserving review and remanded proceedings where appropriate. https://www.taxtmi.com/highlights?id=104753 https://www.taxtmi.com/highlights?id=104753 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI NDPS commercial-quantity bail requires separate findings on non-guilt and future offending, with trial delay assessed within Section 37. https://www.taxtmi.com/highlights?id=104752 https://www.taxtmi.com/highlights?id=104752 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Highlights TaxTMI Approved customs custodians bear duty for proven pilferage in custody, while pre-approval losses fall outside statutory liability. https://www.taxtmi.com/highlights?id=104751 https://www.taxtmi.com/highlights?id=104751 Fri, 09 Oct 2026 20:27:44 +0530 Customs Highlights TaxLaws TaxTMI Classification of Disposable Analytical Cartridges under Chapter 90 and Heading 3926 https://www.taxtmi.com/tmi_notes?id=2545 https://www.taxtmi.com/tmi_notes?id=2545 Fri, 09 Oct 2026 20:27:44 +0530 Customs Notes TaxLaws TaxTMI Section 5 condonation preserves delayed externment appeals where the special statute sets no express or implied outer limit. https://www.taxtmi.com/highlights?id=104750 https://www.taxtmi.com/highlights?id=104750 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Highlights TaxTMI Pre-Movement E-Way Bill Compliance and Section 129 Detention for Undocumented Goods in Transit https://www.taxtmi.com/tmi_notes?id=2543 https://www.taxtmi.com/tmi_notes?id=2543 Fri, 09 Oct 2026 20:27:44 +0530 GST Notes TaxLaws TaxTMI Reasoned and Speaking Appellate Orders u/s 107 of the CGST Act: Duty to Decide Material Grounds of Appeal https://www.taxtmi.com/tmi_notes?id=2544 https://www.taxtmi.com/tmi_notes?id=2544 Fri, 09 Oct 2026 20:27:44 +0530 GST Notes TaxLaws TaxTMI Manual show-cause replies in GST adjudication require consideration; orders issued before permitted evidence deadlines breach natural justice. https://www.taxtmi.com/highlights?id=104749 https://www.taxtmi.com/highlights?id=104749 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Input tax credit reversal on supplier credit notes was not mandatory; bona fide IGST adjustment did not attract fresh demand. https://www.taxtmi.com/highlights?id=104748 https://www.taxtmi.com/highlights?id=104748 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Leasehold rights assignment transfers benefits of immovable property, keeping industrial plot transfers outside the GST supply net. https://www.taxtmi.com/highlights?id=104747 https://www.taxtmi.com/highlights?id=104747 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Retrospective price escalation triggers interest from original clearance, while bona fide transitional compliance does not attract tax penalty. https://www.taxtmi.com/highlights?id=104746 https://www.taxtmi.com/highlights?id=104746 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Adjusted total turnover requires inclusion of time-barred credit notes, but the zero-rated supply refund remained permissible. https://www.taxtmi.com/highlights?id=104745 https://www.taxtmi.com/highlights?id=104745 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Belated Credit Notes Increase Adjusted Total Turnover and Reduce Inverted Duty Structure Input Tax Credit Refunds https://www.taxtmi.com/highlights?id=104744 https://www.taxtmi.com/highlights?id=104744 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Monetary-limit policy requires Revenue to prove a recognised exception before pursuing a GST penalty appeal on merits. https://www.taxtmi.com/highlights?id=104743 https://www.taxtmi.com/highlights?id=104743 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Bogus Inward Supply Allegations Require Proof of Supplier Non-Existence or Tax Evasion Before GST Demands Survive https://www.taxtmi.com/highlights?id=104742 https://www.taxtmi.com/highlights?id=104742 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Monetary-limit policy binds departmental GST appeals; absent a recognised exception and recorded Commissioner opinion, below-threshold appeals fail. https://www.taxtmi.com/highlights?id=104741 https://www.taxtmi.com/highlights?id=104741 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Assignment of Industrial Leasehold Rights Is Treated as Immovable Property Transfer, Excluding GST on Third-Party Assignments https://www.taxtmi.com/highlights?id=104740 https://www.taxtmi.com/highlights?id=104740 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Purpose test classifies electricity subsidies tied to production costs as taxable revenue receipts rather than capital assistance. https://www.taxtmi.com/highlights?id=104739 https://www.taxtmi.com/highlights?id=104739 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Faceless assessment requires meaningful hearing where portal barriers prevent uploading responses and supporting evidence before adverse orders. https://www.taxtmi.com/highlights?id=104738 https://www.taxtmi.com/highlights?id=104738 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Natural justice requires consideration of portal-filed adjournment requests before final assessment, requiring fresh assessment and hearing. https://www.taxtmi.com/highlights?id=104737 https://www.taxtmi.com/highlights?id=104737 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Minimum alternate tax exclusion for regulated banking companies, with actual-payment leave encashment deduction and computer-rate UPS depreciation. https://www.taxtmi.com/highlights?id=104736 https://www.taxtmi.com/highlights?id=104736 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Political donation deduction fails where search admissions establish bogus contributions and evidence does not rebut the finding. https://www.taxtmi.com/highlights?id=104735 https://www.taxtmi.com/highlights?id=104735 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Related-party commission disallowance requires comparable evidence of excessiveness, not merely a payment relationship or cross-industry benchmark. https://www.taxtmi.com/highlights?id=104734 https://www.taxtmi.com/highlights?id=104734 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Non-filing of ITC-03 - does it attract penalty u/s.125 /forum/issue?id=121166 /forum/issue?id=121166 Fri, 09 Oct 2026 20:27:44 +0530 GST Discussion-Forum TaxLaws TaxTMI On-money accrues on title transfer, requiring verification of later-year tax offers before sustaining additions in the original assessment year. https://www.taxtmi.com/highlights?id=104733 https://www.taxtmi.com/highlights?id=104733 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Transfer pricing of compulsorily convertible debenture interest requires a prescribed arm's length method; nil pricing lacked support. https://www.taxtmi.com/highlights?id=104732 https://www.taxtmi.com/highlights?id=104732 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Bona fide disclosure shields software-development expense claims from under-reporting penalties despite their capital treatment in tax assessments. https://www.taxtmi.com/highlights?id=104731 https://www.taxtmi.com/highlights?id=104731 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Builder-financing additions fail without proof of unexplained source, while disputed stamp values require DVO-based reassessment. https://www.taxtmi.com/highlights?id=104730 https://www.taxtmi.com/highlights?id=104730 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Reassessment based on investigation information remained valid, while unverified cash sales deposits were sustained as unexplained cash credit. https://www.taxtmi.com/highlights?id=104729 https://www.taxtmi.com/highlights?id=104729 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Kachha arhtia turnover excludes principals' sale proceeds, making tax audit and non-audit penalty dependent on agency proof. https://www.taxtmi.com/highlights?id=104728 https://www.taxtmi.com/highlights?id=104728 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Form 10AB technical errors require rectification before charitable registration and approval applications face technical rejection. https://www.taxtmi.com/highlights?id=104727 https://www.taxtmi.com/highlights?id=104727 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Amendment in the Export Policy of Baryte (Natural Barium Sulphate) classified under ITC(HS) Codes 25111010 and 25111020 https://www.taxtmi.com/circulars?id=71546 https://www.taxtmi.com/circulars?id=71546 Fri, 09 Oct 2026 20:27:44 +0530 Customs Circulars TaxLaws TaxTMI Consequential assessment limits prevented share-premium addition, while unsecured loans required lender-wise verification under the applicable statutory burden. https://www.taxtmi.com/highlights?id=104726 https://www.taxtmi.com/highlights?id=104726 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Cash returned from recorded builder payments is not unexplained money absent proof of separate unaccounted accretion. https://www.taxtmi.com/highlights?id=104725 https://www.taxtmi.com/highlights?id=104725 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Search-related reassessment notices require independent prior approval, and an inapplicable section 148A process cannot cure jurisdictional defects. https://www.taxtmi.com/highlights?id=104724 https://www.taxtmi.com/highlights?id=104724 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Union Finance Minister Smt. Nirmala Sitharaman on visit to Singapore for high-level meetings with Singapore Leadership and CEOs of business firms in Singapore https://www.taxtmi.com/news?id=75063 https://www.taxtmi.com/news?id=75063 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws News TaxTMI Fresh evidence in first appeal may be examined under coterminous appellate powers, with remand verification where factual disputes remain unresolved. https://www.taxtmi.com/highlights?id=104723 https://www.taxtmi.com/highlights?id=104723 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Attorney-holder status in development agreements requires verification before capital-gains liability can be determined on the merits. https://www.taxtmi.com/highlights?id=104722 https://www.taxtmi.com/highlights?id=104722 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Write-back of unallowed provisions requires verification to prevent repeat taxation and double addition in book-profit computation. https://www.taxtmi.com/highlights?id=104721 https://www.taxtmi.com/highlights?id=104721 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Consignment sales cannot become agent turnover solely from cess payment; unverified balances require factual verification before deletion. https://www.taxtmi.com/highlights?id=104720 https://www.taxtmi.com/highlights?id=104720 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Transfer pricing on quasi-equity funding cannot create taxable interest where recovery is uncertain and no real income accrues. https://www.taxtmi.com/highlights?id=104719 https://www.taxtmi.com/highlights?id=104719 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Customs appellate jurisdiction excludes only baggage, specified unloaded-import goods and drawback matters; seizure appeals lie before the Tribunal. https://www.taxtmi.com/highlights?id=104718 https://www.taxtmi.com/highlights?id=104718 Fri, 09 Oct 2026 20:27:44 +0530 Customs Highlights TaxLaws TaxTMI Customs Broker due diligence: statutory importer documents can suffice, while unsupported allegations and indefinite licence suspension cannot stand. https://www.taxtmi.com/highlights?id=104717 https://www.taxtmi.com/highlights?id=104717 Fri, 09 Oct 2026 20:27:44 +0530 Customs Highlights TaxLaws TaxTMI Split consignment classification treated complementary motorcycle parts as one imported motorcycle, sustaining valuation, confiscation and importer liability. https://www.taxtmi.com/highlights?id=104716 https://www.taxtmi.com/highlights?id=104716 Fri, 09 Oct 2026 20:27:44 +0530 Customs Highlights TaxLaws TaxTMI Statutory act of insolvency: attempted property transfer and debt default cannot sustain a creditor's insolvency petition. https://www.taxtmi.com/highlights?id=104715 https://www.taxtmi.com/highlights?id=104715 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Highlights TaxTMI Going-concern liquidation sale commencement follows the liquidation order, preserving pre-amendment rights despite later regulatory changes. https://www.taxtmi.com/highlights?id=104714 https://www.taxtmi.com/highlights?id=104714 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Highlights TaxTMI Bankruptcy estate vesting makes post-commencement bank withdrawals unauthorised, while jewellery sale proceeds remain available to creditors. https://www.taxtmi.com/highlights?id=104713 https://www.taxtmi.com/highlights?id=104713 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Highlights TaxTMI Partial amendment to Public Notice No. 86/2009 dated 18.11.2009 issued vide S/12-Gen-42/2008 AM(X)/NS-II https://www.taxtmi.com/circulars?id=71544 https://www.taxtmi.com/circulars?id=71544 Fri, 09 Oct 2026 20:27:44 +0530 Customs Circulars TaxLaws TaxTMI IMMOVABLE PROPERTY IS MOVING...UNPACKING SECTION 17(5)(d) OF THE CGST ACT https://www.taxtmi.com/article/detailed?id=17522 https://www.taxtmi.com/article/detailed?id=17522 Fri, 09 Oct 2026 20:27:44 +0530 GST Articles TaxLaws TaxTMI Recommendations of the 57th Meeting of the GST Council https://www.taxtmi.com/news?id=75062 https://www.taxtmi.com/news?id=75062 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws News TaxTMI Securities and Exchange Board of India (Settlement of Administrative and Civil Proceedings) Regulations, 2026 https://www.taxtmi.com/notifications?id=147228 https://www.taxtmi.com/notifications?id=147228 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Notifications TaxTMI Income Tax Act of 2025 and 1961 - Apportionment of income between spouses governed by Portuguese Civil Code compared and analysed. https://www.taxtmi.com/article/detailed?id=17548 https://www.taxtmi.com/article/detailed?id=17548 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Articles TaxLaws TaxTMI COMPOSITE APPEAL AGAINST THE JOINT PROCEEDINGS https://www.taxtmi.com/article/detailed?id=17547 https://www.taxtmi.com/article/detailed?id=17547 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Articles TaxTMI ARRESTS UNDER GOODS AND SERVICES TAX (PART-3) https://www.taxtmi.com/article/detailed?id=17546 https://www.taxtmi.com/article/detailed?id=17546 Fri, 09 Oct 2026 20:27:44 +0530 GST Articles TaxLaws TaxTMI Withdrawal Without Liberty Closes The Writ Door https://www.taxtmi.com/article/detailed?id=17545 https://www.taxtmi.com/article/detailed?id=17545 Fri, 09 Oct 2026 20:27:44 +0530 GST Articles TaxLaws TaxTMI Amendment to Electronics and Information Technology Goods (Requirement for Compulsory Registration) Order, 2021 - inclusion of Screen Protectors for smartphones https://www.taxtmi.com/circulars?id=71543 https://www.taxtmi.com/circulars?id=71543 Fri, 09 Oct 2026 20:27:44 +0530 Customs Circulars TaxLaws TaxTMI India Began Building Bridges When the World Was Building Walls: Union Minister of Commerce and Industry Shri Piyush Goyal https://www.taxtmi.com/news?id=75061 https://www.taxtmi.com/news?id=75061 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws News TaxTMI Faceless Reassessment Jurisdiction: Retrospective Validation under Section 147A and Automated Allocation of Reassessment Cases https://www.taxtmi.com/tmi_notes?id=2542 https://www.taxtmi.com/tmi_notes?id=2542 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Notes TaxLaws TaxTMI Doctrine of Merger: Effect of Non-Speaking and Speaking Dismissal of Special Leave Petitions on Merger and Review https://www.taxtmi.com/tmi_notes?id=2541 https://www.taxtmi.com/tmi_notes?id=2541 Fri, 09 Oct 2026 20:27:44 +0530 GST Notes TaxLaws TaxTMI Section 37 of the NDPS Act: Twin Conditions for Grant of Bail in Commercial Quantity Cases https://www.taxtmi.com/tmi_notes?id=2540 https://www.taxtmi.com/tmi_notes?id=2540 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Notes TaxTMI Pilferage of Imported Goods: Approval, Custody and Duty Liability under the Customs Act, 1962 https://www.taxtmi.com/tmi_notes?id=2539 https://www.taxtmi.com/tmi_notes?id=2539 Fri, 09 Oct 2026 20:27:44 +0530 Customs Notes TaxLaws TaxTMI Genuine Hardship in Delayed Revised Returns Requires Condonation Review Before Independent Examination of Exemption and Refund Claims https://www.taxtmi.com/highlights?id=104712 https://www.taxtmi.com/highlights?id=104712 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Verified TDS deduction protects domestic taxpayers from denied credit, refund adjustment, and duplicate recovery despite deductor default. https://www.taxtmi.com/highlights?id=104711 https://www.taxtmi.com/highlights?id=104711 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Timely pronouncement of reserved judgments requires defined timelines, transparency measures, and remedial pathways to protect liberty and effective justice. https://www.taxtmi.com/highlights?id=104710 https://www.taxtmi.com/highlights?id=104710 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Highlights TaxTMI Settlement-price depression requires proof of manipulation, not merely short exposure, late selling, or below-market orders, preserving disclosure penalties. https://www.taxtmi.com/highlights?id=104709 https://www.taxtmi.com/highlights?id=104709 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Highlights TaxTMI Foreign LTC tax treatment requires TDS on known non-exempt travel claims despite recovery-related interim relief. https://www.taxtmi.com/highlights?id=104708 https://www.taxtmi.com/highlights?id=104708 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Extended GST limitation requires a notice to plead fraud, wilful misstatement or suppression with supporting factual particulars. https://www.taxtmi.com/highlights?id=104707 https://www.taxtmi.com/highlights?id=104707 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Condonation of Delay in Statutory Appeals under Section 5 of the Limitation Act, 1963 https://www.taxtmi.com/tmi_notes?id=2538 https://www.taxtmi.com/tmi_notes?id=2538 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Notes TaxTMI Introduction of Credit Risk-o-Meter as an additional disclosure mechanism for debt securities https://www.taxtmi.com/circulars?id=71541 https://www.taxtmi.com/circulars?id=71541 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Circulars TaxTMI Seeks to amend Notification No. 62/1994-Customs (N.T.) dated the 21st November, 1994 - Customs ports — Appointment for specified purposes https://www.taxtmi.com/notifications?id=147222 https://www.taxtmi.com/notifications?id=147222 Fri, 09 Oct 2026 20:27:44 +0530 Customs Notifications TaxLaws TaxTMI Merchant banker appointment exemption permits eligible regulated listed issuers to privately place highly rated debt without appointing one. https://www.taxtmi.com/highlights?id=104706 https://www.taxtmi.com/highlights?id=104706 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Highlights TaxTMI Reassignment of pending legacy indirect-tax appeals directs listed matters to designated appellate Commissioners for Orders-in-Appeal. https://www.taxtmi.com/highlights?id=104705 https://www.taxtmi.com/highlights?id=104705 Fri, 09 Oct 2026 20:27:44 +0530 Excise Highlights TaxLaws TaxTMI Export Declaration Form authentication at Non-EDI Customs locations requires secure electronic forwarding to the designated Authorised Dealer. https://www.taxtmi.com/highlights?id=104704 https://www.taxtmi.com/highlights?id=104704 Fri, 09 Oct 2026 20:27:44 +0530 Customs Highlights TaxLaws TaxTMI Customs area declaration enables O Yard CFS to handle Kamarajar Port import, baggage and export cargo under prescribed procedures. https://www.taxtmi.com/highlights?id=104703 https://www.taxtmi.com/highlights?id=104703 Fri, 09 Oct 2026 20:27:44 +0530 Customs Highlights TaxLaws TaxTMI Customs custody appointment extends O Yard CFS responsibility to imports and exports routed through Kamarajar Port. https://www.taxtmi.com/highlights?id=104702 https://www.taxtmi.com/highlights?id=104702 Fri, 09 Oct 2026 20:27:44 +0530 Customs Highlights TaxLaws TaxTMI Re-assignment of appeals pending in Kolkata Zone in partial modification of Order No. 04/2025 dated 28.04.2025 https://www.taxtmi.com/circulars?id=71534 https://www.taxtmi.com/circulars?id=71534 Fri, 09 Oct 2026 20:27:44 +0530 Excise Circulars TaxLaws TaxTMI Exemption from the requirement of mandatory merchant banker appointment for debt issued through private placement by certain listed issuers https://www.taxtmi.com/circulars?id=71540 https://www.taxtmi.com/circulars?id=71540 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Circulars TaxTMI CCI approves acquisition of sole control over Omega-Meyer Ltd and Meyer Organics by BCPE Wellbeing Holdco Two Ltd. and Integral Investments Asia IV Ltd https://www.taxtmi.com/news?id=75060 https://www.taxtmi.com/news?id=75060 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws News TaxTMI CCI approves proposed acquisition of 100% shareholding of Vishavari Tollway Ltd and nine SPVs operating road assets in India by Concessoc 41 SAS https://www.taxtmi.com/news?id=75059 https://www.taxtmi.com/news?id=75059 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws News TaxTMI CCI approves acquisition of certain shareholding in Prestige Hospitality Ventures Limited by CPP Investment Board Pvt. Holdings (4) Inc. https://www.taxtmi.com/news?id=75058 https://www.taxtmi.com/news?id=75058 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws News TaxTMI CCI approves proposed combination related to internal restructuring of the JSW Group https://www.taxtmi.com/news?id=75057 https://www.taxtmi.com/news?id=75057 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws News TaxTMI Pre-Deposit Before Final Acknowledgement Saves The Appeal https://www.taxtmi.com/article/detailed?id=17542 https://www.taxtmi.com/article/detailed?id=17542 Fri, 09 Oct 2026 20:27:44 +0530 GST Articles TaxLaws TaxTMI Equality Before Law: Why Must Every Employee Litigate? https://www.taxtmi.com/article/detailed?id=17544 https://www.taxtmi.com/article/detailed?id=17544 Fri, 09 Oct 2026 20:27:44 +0530 TaxLaws Articles TaxTMI Discrimination in deductions of sums covered us 43B and payment of TDS/TCS within different last dates for filing ITR. An option can be allowed to non-audit cases to make estimated claim for payments. https://www.taxtmi.com/article/detailed?id=17543 https://www.taxtmi.com/article/detailed?id=17543 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Articles TaxLaws TaxTMI RECENT GSTAT RELATED UPDATES.. https://www.taxtmi.com/article/detailed?id=17541 https://www.taxtmi.com/article/detailed?id=17541 Fri, 09 Oct 2026 20:27:44 +0530 GST Articles TaxLaws TaxTMI FILING OF FORMS UNDER INSOLVENCY RESOLUTION PROCESS OF PERSONAL GUARANTORS TO CORPORATE DEBTOR – PART II https://www.taxtmi.com/article/detailed?id=17540 https://www.taxtmi.com/article/detailed?id=17540 Fri, 09 Oct 2026 20:27:44 +0530 Corporate Laws Articles TaxLaws TaxTMI When Business Stands Still, Urgent Hearing Need Not Wait For Registry Scrutiny. https://www.taxtmi.com/article/detailed?id=17539 https://www.taxtmi.com/article/detailed?id=17539 Fri, 09 Oct 2026 20:27:44 +0530 GST Articles TaxLaws TaxTMI Electronic GST authentication validates portal-issued demand notices, while portal upload starts limitation and RFN can replace DIN. https://www.taxtmi.com/highlights?id=104701 https://www.taxtmi.com/highlights?id=104701 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Assessment of unregistered persons must precede GST recovery proceedings, leaving educational institution exemption claims open for determination. https://www.taxtmi.com/highlights?id=104700 https://www.taxtmi.com/highlights?id=104700 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Revised customs prosecution thresholds can govern pending gold-smuggling complaints, requiring reconsideration of withdrawal despite prior prosecution sanction. https://www.taxtmi.com/highlights?id=104699 https://www.taxtmi.com/highlights?id=104699 Fri, 09 Oct 2026 20:27:44 +0530 Customs Highlights TaxLaws TaxTMI Leasehold rights assignments in industrial plots remain outside GST where treated as benefits arising from immovable property. https://www.taxtmi.com/highlights?id=104698 https://www.taxtmi.com/highlights?id=104698 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Pre-deposit timing turns on final acknowledgement, allowing a timely defect cure before appeal registration and merits consideration. https://www.taxtmi.com/highlights?id=104697 https://www.taxtmi.com/highlights?id=104697 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Proportionality review restricts reduction of FERA penalties unless the sanction is grossly excessive, unduly harsh, or conscience-shocking. https://www.taxtmi.com/highlights?id=104696 https://www.taxtmi.com/highlights?id=104696 Fri, 09 Oct 2026 20:27:44 +0530 FEMA Highlights TaxLaws TaxTMI Offshore supply receipts remain outside Indian taxation where CIF title passes abroad and contracts are genuinely separate. https://www.taxtmi.com/highlights?id=104695 https://www.taxtmi.com/highlights?id=104695 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Income Declaration Scheme declarations can evidence share-capital sources, while round-tripped funds and cash-linked credits require further verification. https://www.taxtmi.com/highlights?id=104694 https://www.taxtmi.com/highlights?id=104694 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Business set-up versus commencement determines deductibility, while appellate findings require consideration of contemporaneous operational evidence. https://www.taxtmi.com/highlights?id=104693 https://www.taxtmi.com/highlights?id=104693 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Mandatory GST credit reversal on unsold completed units becomes deductible project cost when final allocation crystallises. https://www.taxtmi.com/highlights?id=104692 https://www.taxtmi.com/highlights?id=104692 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Permanent establishment tests: independent subsidiary premises and principal-to-principal dealings did not create Indian taxability for offshore supplies. https://www.taxtmi.com/highlights?id=104691 https://www.taxtmi.com/highlights?id=104691 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Electronic receipt of DRP directions triggers the final-assessment deadline, rendering delayed faceless assessments time-barred and invalid. https://www.taxtmi.com/highlights?id=104690 https://www.taxtmi.com/highlights?id=104690 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Gifted share holding periods include prior ownership, but indexation begins only when the donee's deemed cost is taxed. https://www.taxtmi.com/highlights?id=104689 https://www.taxtmi.com/highlights?id=104689 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI National Highways acquisition compensation remains income-tax exempt, while delayed-payment interest is taxable as income from other sources. https://www.taxtmi.com/highlights?id=104688 https://www.taxtmi.com/highlights?id=104688 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Valuation Officer estimates govern property-value additions once statutory valuation is invoked, requiring fresh consideration of objections and comparables. https://www.taxtmi.com/highlights?id=104687 https://www.taxtmi.com/highlights?id=104687 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Waiver of written show-cause notice may prevent a later procedural challenge after participation in customs adjudication, preserving statutory appellate remedy. https://www.taxtmi.com/highlights?id=104685 https://www.taxtmi.com/highlights?id=104685 Fri, 09 Oct 2026 20:27:44 +0530 Customs Highlights TaxLaws TaxTMI Customs detention charges cannot be imposed after clearance, requiring release of imported goods and preserving inter-party claims. https://www.taxtmi.com/highlights?id=104684 https://www.taxtmi.com/highlights?id=104684 Fri, 09 Oct 2026 20:27:44 +0530 Customs Highlights TaxLaws TaxTMI Premature GST summons challenges fail where summons merely seek information and no coercive recovery or arrest threat is evidenced. https://www.taxtmi.com/highlights?id=104678 https://www.taxtmi.com/highlights?id=104678 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI GST appellate hearing rights protect appeals from dismissal over limitation, authority and interest-only pre-deposit objections. https://www.taxtmi.com/highlights?id=104677 https://www.taxtmi.com/highlights?id=104677 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Input tax credit mismatch requires documentary verification; non-appearance alone cannot end a GST appeal without merits review. https://www.taxtmi.com/highlights?id=104676 https://www.taxtmi.com/highlights?id=104676 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Retrospective invalidity of ocean-freight IGST supports refunds despite non-party status and prior credit utilisation, subject to authorised appeal grounds. https://www.taxtmi.com/highlights?id=104675 https://www.taxtmi.com/highlights?id=104675 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI E-Way Bill Omissions Without Tax Evasion Attract General Penalty, Not Detention Penalty for Bonded-Warehouse Return Transit https://www.taxtmi.com/highlights?id=104674 https://www.taxtmi.com/highlights?id=104674 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Statutory delay limits in GST appeals remain binding, but restored registrations can render departmental challenges infructuous. https://www.taxtmi.com/highlights?id=104673 https://www.taxtmi.com/highlights?id=104673 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Additional evidence in departmental appeals may include show-cause-notice material without introducing a new case where it merely corroborates existing record. https://www.taxtmi.com/highlights?id=104672 https://www.taxtmi.com/highlights?id=104672 Fri, 09 Oct 2026 20:27:44 +0530 GST Highlights TaxLaws TaxTMI Cash received by property-sale mediator falls outside loan or deposit rules, preventing penalty where reasonable cause exists. https://www.taxtmi.com/highlights?id=104671 https://www.taxtmi.com/highlights?id=104671 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Reassessment based on unverified audit objections fails where cess was unclaimed and subsidiary investment interest satisfies commercial expediency. https://www.taxtmi.com/highlights?id=104670 https://www.taxtmi.com/highlights?id=104670 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Reasoned rectification orders require consideration of expenditure disclosed in income-tax returns, preventing revision based on incomplete income computation. https://www.taxtmi.com/highlights?id=104669 https://www.taxtmi.com/highlights?id=104669 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Section 263 revision cannot replace an Assessing Officer's reasoned inquiry into already examined accommodation-entry information. https://www.taxtmi.com/highlights?id=104668 https://www.taxtmi.com/highlights?id=104668 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Modified returns after business reorganisations cannot trigger fresh scrutiny once the original assessment was complete, invalidating related transfer-pricing proceedings. https://www.taxtmi.com/highlights?id=104667 https://www.taxtmi.com/highlights?id=104667 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Third-party loose sheets require reliable nexus before supporting unexplained expenditure additions; presumptions do not establish payer identity or ownership. https://www.taxtmi.com/highlights?id=104666 https://www.taxtmi.com/highlights?id=104666 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Revisionary jurisdiction fails where examined, plausible exemption claims for compulsory-acquisition interest are challenged solely on taxability. https://www.taxtmi.com/highlights?id=104665 https://www.taxtmi.com/highlights?id=104665 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Unverifiable Purchases: accepted sales support profit-element addition, while transaction-specific intelligence sustains reassessment jurisdiction and limits remand. https://www.taxtmi.com/highlights?id=104664 https://www.taxtmi.com/highlights?id=104664 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI TNMM comparability using audited accounts and working-capital adjustments can eliminate unwarranted transfer-pricing additions where verified margins fall within range. https://www.taxtmi.com/highlights?id=104663 https://www.taxtmi.com/highlights?id=104663 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Proportionate common-expenditure deduction protects taxable non-member receipts; cellular-tower terrace rent is house-property income with statutory deductions. https://www.taxtmi.com/highlights?id=104662 https://www.taxtmi.com/highlights?id=104662 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Gross-profit additions on disputed purchases require reasoned appellate determination; disclosed claims alone do not support inaccurate-particulars penalties. https://www.taxtmi.com/highlights?id=104661 https://www.taxtmi.com/highlights?id=104661 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Post-search reassessment: Statutorily deemed income-escape information requires section 148 proceedings instead of continued scrutiny assessment under the new framework. https://www.taxtmi.com/highlights?id=104660 https://www.taxtmi.com/highlights?id=104660 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Cash credit verification deletes unsupported unsecured-loan addition but requires fresh examination of flat-sale receipts and purchaser deposits. https://www.taxtmi.com/highlights?id=104659 https://www.taxtmi.com/highlights?id=104659 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Net taxable income after charitable-exemption denial requires verification of admissible expenditure rather than taxation of gross receipts. https://www.taxtmi.com/highlights?id=104658 https://www.taxtmi.com/highlights?id=104658 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Limitation after transfer-pricing remand: fresh TPO reference did not extend the assessment deadline, rendering the consequential assessment time-barred. https://www.taxtmi.com/highlights?id=104657 https://www.taxtmi.com/highlights?id=104657 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Agricultural land compensation outside municipal limits avoids capital-gains tax; structure compensation permits cost-of-acquisition deduction in compulsory acquisitions. https://www.taxtmi.com/highlights?id=104656 https://www.taxtmi.com/highlights?id=104656 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI Interim judicial restraint on tax deduction prevents default, while supporting reasonable cause and penalty deletion for foreign-leg LFC reimbursements. https://www.taxtmi.com/highlights?id=104655 https://www.taxtmi.com/highlights?id=104655 Fri, 09 Oct 2026 20:27:44 +0530 Income Tax Highlights TaxLaws TaxTMI TMI Updates - Newsletter dated: October 09, 2026 https://www.taxtmi.com/newsletter?id=10/09/2026 https://www.taxtmi.com/newsletter?id=10/09/2026 Daily Updates Tax