Recorded cash sales deposited during demonetisation, when reflected in audited books, stock records, VAT returns and disclosed turnover accepted without identified defects, cannot be assessed again as unexplained cash credits merely because sales increased. Treating those receipts as unexplained would result in double taxation, and the enhanced tax regime under section 115BBE does not apply. Further, an estimated addition for an alleged premium on recorded sales requires supporting material; acceptance of the books, sales and stock details leaves no basis for a premium inferred solely on conjecture. The additions under section 68 and for alleged additional profit were deleted.

University and school affiliation services are taxable, except affiliation supplied to government schools from 10 October 2024; specified past school-affiliation tax payments are regularized on an as is where is basis. DGCA-approved flying training courses meeting the approved-training framework are exempt. GTA ancillary services supplied in the course of road transport form a composite supply despite separate invoicing. Helicopter seat-share transport, foreign-airline service imports without consideration, specified electricity utility support services, and film theatrical-rights transactions receive the stated exemption, tax treatment, or past-payment regularization.

Insurance policyholder grievances must first be raised with the concerned insurer, whose Grievance Redressal Officer and Board-level monitoring committee oversee redressal. Complaints received through digital channels, correspondence or call centres are recorded in the insurer's Complaints Management System, integrated with Bima Bharosa. Insurers must acknowledge complaints immediately and resolve them within 14 days. Where no response is received within a reasonable period or the response is unsatisfactory, policyholders may escalate through Bima Bharosa or designated helplines, email or physical correspondence.

India's foreign exchange reserves rose to USD 707.002 billion for the week ended 7 August 2026. The increase comprised higher foreign currency assets, gold reserves, special drawing rights and the reserve position with the IMF. Foreign currency asset valuation incorporates appreciation or depreciation of non-US currencies held in reserve assets. Measures including the FCNR(B) scheme were introduced to attract additional foreign exchange inflows.

Section 128A grants conditional waiver of interest, penalty, or both for eligible section 73 demands relating to financial years 2017-18 to 2019-20, subject to full payment of tax and electronic application. Applications require withdrawal of pending challenges concerning the relevant demand. Composite demands require payment of all tax, including tax for ineligible periods and erroneous refunds, although waiver remains limited to eligible-period demands other than erroneous refunds. Input tax credit no longer payable under retrospective time-limit relief may be deducted where the credit was denied solely on that ground. Failure to pay residual liabilities or additional tax determined in departmental proceedings voids the waiver.

NDCF computation for InvITs permits add-back of road-project major-maintenance payments funded by external borrowing at HoldCo/SPV and Trust levels. The add-back requires project-specific unitholder approval, prescribed explanatory disclosures, and statutory-auditor certification that expenditure complies with concession-agreement obligations and is externally debt funded. Periodic reporting must separately identify major-maintenance borrowing, outstanding debt, net borrowing ratio components, and debt maturity profiles.

Recipients liable for service tax under reverse charge on goods transport agency services may claim abatement where the prescribed declaration is issued separately on the agency's letterhead. The applicable notifications did not mandate a particular format or require endorsement of the declaration on each consignment note. A separate certificate from the goods transport agency constituted sufficient compliance, preserving entitlement to abatement.

Company winding-up principles supported admission of a petition where admitted investment and assured returns established a debt above the statutory threshold. Proposed adjustments for increased land costs and technology-related charges lacked contractual and documentary support. Applying ejusdem generis, the reference to taxes, charges and levies covered only charges similar to those specified and did not permit those adjustments. The absence of a functioning board, failure to comply with prior directions, and risk of asset dissipation warranted protective measures. The petition was admitted, and the Official Liquidator was appointed as provisional liquidator to secure and preserve assets, books and records.

Online Bond Platform Providers may offer products, securities and services regulated by financial-sector regulators, including IFSCA-regulated offerings, and specified capital-gains tax-exemption bonds. Non-SEBI-regulated offerings must follow the respective regulator's requirements and have a stated grievance-redressal mechanism. IFSCA products require FEMA compliance and clear international or overseas labelling. Tax-specific bonds require issuer-based grievance disclosures, material feature disclosures and prominent eligibility-related tax-benefit warnings. OBPPs must appoint a certified compliance officer under the applicable stock-broker framework.

Construction of houses under the Jawaharlal Nehru National Urban Renewal Mission requires contract-wise examination to determine whether the activity is taxable as works contract service for construction of a residential complex. Housing undertaken for slum dwellers and poor persons under a government scheme, without commercial activity, requires assessment against the applicable legal position and relevant Tribunal rulings. The taxability of the construction contracts remained subject to fresh determination after verification of the individual contractual terms.

Retrospective extension of the input tax credit availment period permits credit for specified earlier financial years in returns filed up to 30 November 2021 and provides a later claim mechanism after revocation of cancelled registration. Pending investigation, adjudication, appeal and revision proceedings must apply the revised entitlement. Unappealed demand-confirming orders may be rectified through the special procedure where credit was denied for breach of the earlier time limit but is now eligible. No refund is available for tax paid or credit reversed under the earlier restriction, except appeal pre-deposits where the appeal succeeds.

Telangana GST compliance is revised through QR-code and Invoice Reference Number requirements for electronic invoices, discretionary exemptions from electronic invoicing, and prescribed HSN-code disclosure classes. Nil GSTR-3B, GSTR-1 and CMP-08 filings may be made by SMS with one-time-password verification where all relevant tables contain no entries. FORM GSTR-2A is replaced by a dynamic auto-drafted inward-supply statement covering supplier invoices and amendments, reverse-charge supplies, input tax credit eligibility, TDS/TCS credits, and import and SEZ bill-of-entry data. Annual return, reconciliation, refund, assessment, demand, recovery and arrears forms are also revised.

Companies (Indian Accounting Standards) Amendment Rules, 2026 amend Ind AS 101, 107, 109, 110 and 7, taking effect on publication in the Official Gazette. The amendments establish accounting, hedge-accounting, transition and disclosure requirements for contracts referencing nature-dependent electricity, including assessment of expected usage, net-purchaser status, financial-statement disclosures and optional fair-value-through-profit-or-loss designation at initial application. They also revise financial-instrument classification and measurement guidance, including contingent cash flows, basic lending arrangements, non-recourse features, electronic-payment derecognition and related disclosures. Most specified amendments apply to annual repor.....

The validity of a Look Out Circular issued at the behest of the Serious Fraud Investigation Office, and a request for permission to travel abroad during an ongoing investigation, remained unresolved. Material concerning the Look Out Circular and the petitioner's role was produced. The petitioner was directed to provide promised documents to the investigating authorities and cooperate with further investigation during the following week. The matter was listed for further hearing and orders, with no final determination on the Look Out Circular's legality or foreign travel request.

Substantial compliance with Rule 57CC's separate-account requirement arises where separate records are maintained for inputs used in exempted and dutiable products. Isolated use of common inputs does not negate compliance when credit proportionate to exempt goods is reversed. Reversal of credit attributable to exempted goods before their removal is treated as non-availment of that credit. On the unchallenged factual record, the requirement was substantially met and no substantial question of law arose.

Passport and foreign-travel restrictions imposed as regular-bail conditions may be relaxed where customs proceedings remain prolonged, substantial payment has been made towards alleged duty evasion, and no prosecution decision has been taken for a considerable period. Return of the passport and overseas travel may be permitted while retaining safeguards requiring prior email intimation to the customs department and Trial Court. The pending adjudicatory appeal is to be concluded within the stipulated period, and the travel permission operates for one year.

Electronic commerce operators liable to pay GST on specified services supplied through their platforms under section 9(5) are not required to proportionately reverse input tax credit under sections 17(1) or 17(2). Tax on section 9(5) supplies must be paid entirely through the electronic cash ledger, and input tax credit cannot be used for that liability. The credit remains available for payment of tax on the operator's own supplies of platform services, including services for which platform fees or commissions are charged.

Wholesale Price Index, Output Producer Price Index, and trial Input Producer Price Index estimates under the 2022-23 base-year series set out provisional July 2026 measures and final May 2026 revisions. All-commodities WPI stood at 110.0 in July 2026, with year-on-year inflation of 9.78 per cent. The all-commodities Output PPI was unchanged at 109.9, while the trial Input PPI for manufacturing was provisionally estimated at 105.9. Final May WPI, Output PPI and trial Input PPI measures were revised from their respective provisional estimates.

Logistics Data Bank provides near real-time visibility of India's EXIM container movement through technology-based tracking and stakeholder monitoring tools. RFID-based coverage extends across ports, terminals, inland logistics facilities, rail networks, industrial zones, borders and highways. The platform uses RFID, Internet of Things, Big Data and Cloud technologies, with analytics on dwell time, transit time, and port and terminal performance to identify logistics bottlenecks. LDB 2.0 adds high-seas tracking of export containers and multimodal shipment visibility.

International Organic Buyer-Seller Meet in Tripura created a direct platform for organic producers, Farmer Producer Organisations, exporters and international buyers to explore sourcing opportunities, market requirements and long-term commercial linkages. Organic and naturally produced goods, including Queen Pineapple, GI-tagged Kalikhasa Rice, organic ginger and turmeric, black sesame, jackfruit and scented lemon, were showcased through product displays and producer interactions. The initiative seeks to strengthen global market access, sourcing partnerships and income opportunities for organic farmers.