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. Tue, 08 Sep 2026 11:54:07 +0530 en-us webmaster@taxtmi.com editor@taxtmi.com 60 GST appeal pre-deposit follows the law when adjudication begins, while factual penalty challenges belong before statutory appellate authorities. https://www.taxtmi.com/highlights?id=103526 https://www.taxtmi.com/highlights?id=103526 Tue, 08 Sep 2026 11:53:15 +0530 GST Highlights TaxLaws TaxTMI Vicarious liability for cheque dishonour requires proven corporate responsibility, protecting wrongly impleaded officers through pre-summoning verification. https://www.taxtmi.com/highlights?id=103525 https://www.taxtmi.com/highlights?id=103525 Tue, 08 Sep 2026 11:53:15 +0530 TaxLaws Highlights TaxTMI GST payment representations require record-based, reasoned decisions while substantive entitlement remains open for determination by competent authorities. https://www.taxtmi.com/highlights?id=103524 https://www.taxtmi.com/highlights?id=103524 Tue, 08 Sep 2026 11:53:15 +0530 GST Highlights TaxLaws TaxTMI Show cause notice limits bar adjudication from confirming demands beyond those proposed, requiring fresh adjudication without a new notice. https://www.taxtmi.com/highlights?id=103523 https://www.taxtmi.com/highlights?id=103523 Tue, 08 Sep 2026 11:53:15 +0530 GST Highlights TaxLaws TaxTMI Inverted duty refunds cover higher-taxed packing materials used for packaged tea despite an inapplicable GST rate-reduction circular. https://www.taxtmi.com/highlights?id=103522 https://www.taxtmi.com/highlights?id=103522 Tue, 08 Sep 2026 11:53:15 +0530 GST Highlights TaxLaws TaxTMI Pure-agent electricity recovery excludes actual, unmarked-up metered and common-area charges from the taxable value of premises maintenance services. https://www.taxtmi.com/highlights?id=103521 https://www.taxtmi.com/highlights?id=103521 Tue, 08 Sep 2026 11:53:15 +0530 GST Highlights TaxLaws TaxTMI Prior adjudication bars advance-ruling applications on identical GST classification and rate questions concerning the applicant. https://www.taxtmi.com/highlights?id=103520 https://www.taxtmi.com/highlights?id=103520 Tue, 08 Sep 2026 11:53:15 +0530 GST Highlights TaxLaws TaxTMI Classification of ruled paper sheets keeps them under Heading 4802; notebook-use exemption depends on actual manufacture. https://www.taxtmi.com/highlights?id=103519 https://www.taxtmi.com/highlights?id=103519 Tue, 08 Sep 2026 11:53:15 +0530 GST Highlights TaxLaws TaxTMI End-use GST exemption for uncoated paper depends on proven manufacture of specified books, while other uses remain taxable. https://www.taxtmi.com/highlights?id=103518 https://www.taxtmi.com/highlights?id=103518 Tue, 08 Sep 2026 11:53:15 +0530 GST Highlights TaxLaws TaxTMI Reassessment sanction under extended limitation required approval from the competent specified authority, invalidating proceedings approved by an incorrect authority. https://www.taxtmi.com/highlights?id=103517 https://www.taxtmi.com/highlights?id=103517 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Director tax liability under Section 179 requires consideration of the director's reply before liability can be determined lawfully. https://www.taxtmi.com/highlights?id=103516 https://www.taxtmi.com/highlights?id=103516 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Capital-gains exemption requires a qualifying asset transfer and reinvestment by the same assessee, not solely by a spouse. https://www.taxtmi.com/highlights?id=103515 https://www.taxtmi.com/highlights?id=103515 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Live sports broadcasting rights exclude live-feed payments from royalty, while non-live rights remain taxable and require withholding. https://www.taxtmi.com/highlights?id=103514 https://www.taxtmi.com/highlights?id=103514 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Deductee-paid-tax exception requires verification before TDS default and consequential interest apply to External Development Charges payments. https://www.taxtmi.com/highlights?id=103513 https://www.taxtmi.com/highlights?id=103513 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Section 50C valuation date follows crystallised consideration where rehabilitation arrangements precede registration, preventing enhanced capital gains additions. https://www.taxtmi.com/highlights?id=103512 https://www.taxtmi.com/highlights?id=103512 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Internal CUP benchmarking for fixed-rate Masala Bonds prevails over floating external comparables, eliminating the related transfer-pricing adjustment. https://www.taxtmi.com/highlights?id=103511 https://www.taxtmi.com/highlights?id=103511 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Jurisdictional validity of revision notices: incorrect official capacity and mere change of opinion invalidate revision of property income assessments. https://www.taxtmi.com/highlights?id=103510 https://www.taxtmi.com/highlights?id=103510 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI MEIS export rewards are revenue income because they offset business costs rather than fund capital investment or expansion. https://www.taxtmi.com/highlights?id=103509 https://www.taxtmi.com/highlights?id=103509 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI TDS credit for trust income remains available despite trustee PAN reporting and absence of Rule 37BA declaration. https://www.taxtmi.com/highlights?id=103508 https://www.taxtmi.com/highlights?id=103508 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Stale Reassessment Material Cannot Support Reopening When Earlier Proceedings Already Considered the Same Lender-Credit Information https://www.taxtmi.com/highlights?id=103507 https://www.taxtmi.com/highlights?id=103507 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Block-period computation for non-searched persons rendered out-of-period assessments void for lack of jurisdiction under the search assessment regime. https://www.taxtmi.com/highlights?id=103506 https://www.taxtmi.com/highlights?id=103506 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Sufficient Cause for Delay Requires Bona Fide Diligence, Leaving a Decade-Late Exemption Appeal Unheard on Merits https://www.taxtmi.com/highlights?id=103505 https://www.taxtmi.com/highlights?id=103505 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Remand limitation periods require fresh-assessment timelines where Tribunal directions mandate fresh consideration, while unexplained foreign currency remains taxable income. https://www.taxtmi.com/highlights?id=103504 https://www.taxtmi.com/highlights?id=103504 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Return-processing adjustments cannot tax validly applied accumulated charitable income merely because electronic return fields contain reporting mismatches. https://www.taxtmi.com/highlights?id=103503 https://www.taxtmi.com/highlights?id=103503 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Cost of improvement excludes routine repairs and removable flat furnishings, while permanent installations require item-wise verification. https://www.taxtmi.com/highlights?id=103502 https://www.taxtmi.com/highlights?id=103502 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Bogus-purchase additions are limited to embedded profit where corresponding sales are accepted, while accommodation-entry information can support reassessment. https://www.taxtmi.com/highlights?id=103501 https://www.taxtmi.com/highlights?id=103501 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Section 80G approval accepts section 10(23C) exemption without mandatory section 12AB registration, subject to verifying statutory coverage. https://www.taxtmi.com/highlights?id=103500 https://www.taxtmi.com/highlights?id=103500 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Section 80G approval permits limited spiritual and satsang expenditure where the statutory religious-activity ceiling remains unbreached. https://www.taxtmi.com/highlights?id=103499 https://www.taxtmi.com/highlights?id=103499 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Reassessment limitation renders post-expiry notices invalid, while missing scrutiny notice or improper approval defeats jurisdiction. https://www.taxtmi.com/highlights?id=103498 https://www.taxtmi.com/highlights?id=103498 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Reasoned appellate adjudication requires merits-based decisions even where taxpayers do not prosecute appeals, requiring fresh disposal. https://www.taxtmi.com/highlights?id=103497 https://www.taxtmi.com/highlights?id=103497 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Charitable accumulation rectification requires prior notice for return-processing adjustments and merits-based consideration of corrected audit reporting. https://www.taxtmi.com/highlights?id=103496 https://www.taxtmi.com/highlights?id=103496 Tue, 08 Sep 2026 11:53:15 +0530 Income Tax Highlights TaxLaws TaxTMI Goods-description customs exemption covers MEG reclamation equipment for petroleum operations despite a different listed tariff heading. https://www.taxtmi.com/highlights?id=103495 https://www.taxtmi.com/highlights?id=103495 Tue, 08 Sep 2026 11:53:15 +0530 Customs Highlights TaxLaws TaxTMI Post-clearance Bill of Entry amendments can enable preferential tariff reassessment upon later production of a retroactive certificate of origin. https://www.taxtmi.com/highlights?id=103494 https://www.taxtmi.com/highlights?id=103494 Tue, 08 Sep 2026 11:53:15 +0530 Customs Highlights TaxLaws TaxTMI DIN deactivation requires notice, hearing and prescribed grounds; director disqualification alone does not automatically deactivate a DIN. https://www.taxtmi.com/highlights?id=103493 https://www.taxtmi.com/highlights?id=103493 Tue, 08 Sep 2026 11:53:15 +0530 Corporate Laws Highlights TaxLaws TaxTMI CIRP closure despite infeasible statutory withdrawal is permitted after creditor settlements, with insolvency costs determined and paid separately. https://www.taxtmi.com/highlights?id=103492 https://www.taxtmi.com/highlights?id=103492 Tue, 08 Sep 2026 11:53:15 +0530 TaxLaws Highlights TaxTMI Personal guarantor insolvency cannot secure an interim moratorium solely to obstruct secured-asset enforcement without a genuine repayment plan. https://www.taxtmi.com/highlights?id=103491 https://www.taxtmi.com/highlights?id=103491 Tue, 08 Sep 2026 11:53:15 +0530 TaxLaws Highlights TaxTMI Provisional attachment fails without material showing likely concealment, transfer, or dealing that could frustrate confiscation of mortgaged property. https://www.taxtmi.com/highlights?id=103490 https://www.taxtmi.com/highlights?id=103490 Tue, 08 Sep 2026 11:53:15 +0530 PMLA Highlights TaxLaws TaxTMI Provisional attachment requires a real risk of alienation; existing restraints and NCLT proceedings defeated that basis. https://www.taxtmi.com/highlights?id=103489 https://www.taxtmi.com/highlights?id=103489 Tue, 08 Sep 2026 11:53:15 +0530 PMLA Highlights TaxLaws TaxTMI Works-contract goods transfers remain outside service tax, while qualifying lift irrigation works receive exemption and extended limitation cannot apply. https://www.taxtmi.com/highlights?id=103488 https://www.taxtmi.com/highlights?id=103488 Tue, 08 Sep 2026 11:53:15 +0530 Service Tax Highlights TaxLaws TaxTMI Cheque execution admissions trigger statutory debt presumptions, sustaining dishonour conviction where rebuttal evidence remains unreliable. https://www.taxtmi.com/highlights?id=103487 https://www.taxtmi.com/highlights?id=103487 Tue, 08 Sep 2026 11:53:15 +0530 TaxLaws Highlights TaxTMI Panel valuer fees may receive post-assignment sanction, while delayed-payment interest cannot duplicate inflation compensation for the same period. https://www.taxtmi.com/highlights?id=103486 https://www.taxtmi.com/highlights?id=103486 Tue, 08 Sep 2026 11:53:15 +0530 TaxLaws Highlights TaxTMI Inventory-based e-commerce exports are permitted for Indian-made goods, lifting B2C and inventory-model restrictions for qualifying exports. https://www.taxtmi.com/highlights?id=103485 https://www.taxtmi.com/highlights?id=103485 Tue, 08 Sep 2026 11:53:15 +0530 FEMA Highlights TaxLaws TaxTMI One-time Advance Authorisation to TRQ conversion for raw sugar receives an extended application window until 7 September 2026. https://www.taxtmi.com/highlights?id=103484 https://www.taxtmi.com/highlights?id=103484 Tue, 08 Sep 2026 11:53:15 +0530 Customs Highlights TaxLaws TaxTMI Customs assessment information portal centralises rulings and guidance to promote consistent classification, valuation, transparency and informed compliance nationwide. https://www.taxtmi.com/highlights?id=103483 https://www.taxtmi.com/highlights?id=103483 Tue, 08 Sep 2026 11:53:15 +0530 Customs Highlights TaxLaws TaxTMI EMI scheme documentation rationalisation reduces application uploads while retaining financial certification and eligibility declarations for deferred customs duty. https://www.taxtmi.com/highlights?id=103482 https://www.taxtmi.com/highlights?id=103482 Tue, 08 Sep 2026 11:53:15 +0530 Customs Highlights TaxLaws TaxTMI Customs out-of-charge verification for regulated imports now requires category-specific licensing, labelling, quality, shelf-life and importer documentation. https://www.taxtmi.com/highlights?id=103481 https://www.taxtmi.com/highlights?id=103481 Tue, 08 Sep 2026 11:53:15 +0530 Customs Highlights TaxLaws TaxTMI Non-resident bank Rupee accounts: annual branch-list and temporary-overdraft reporting obligations are withdrawn with immediate effect. https://www.taxtmi.com/highlights?id=103480 https://www.taxtmi.com/highlights?id=103480 Tue, 08 Sep 2026 11:53:15 +0530 FEMA Highlights TaxLaws TaxTMI Expiry of a CGST prohibition order requires release of detained goods without affecting the underlying departmental investigation. https://www.taxtmi.com/highlights?id=103479 https://www.taxtmi.com/highlights?id=103479 Tue, 08 Sep 2026 11:53:15 +0530 GST Highlights TaxLaws TaxTMI Composite show-cause notices spanning multiple financial years are jurisdictionally invalid, allowing writ review despite an alternative appellate remedy. https://www.taxtmi.com/highlights?id=103478 https://www.taxtmi.com/highlights?id=103478 Tue, 08 Sep 2026 11:53:15 +0530 GST Highlights TaxLaws TaxTMI Inverted duty refunds cover higher-taxed packaging inputs for packaged tea, while rate-reduction guidance does not bar claims. https://www.taxtmi.com/highlights?id=103477 https://www.taxtmi.com/highlights?id=103477 Tue, 08 Sep 2026 11:53:15 +0530 GST Highlights TaxLaws TaxTMI TMI Updates - Newsletter dated: September 08, 2026 https://www.taxtmi.com/newsletter?id=09/08/2026 https://www.taxtmi.com/newsletter?id=09/08/2026 Daily Updates Tax