Notification u/s 10(23EE) of the Income Tax Act, 1961 in the case of Core Settlement Guarantee Fund MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 8th January, 2026 S.O. 115(E).— In exercise of the powers conferred by clause (23EE) of section 10 of the Income-tax Act, 1961 (43… Read More »
Notification on Special Deposit Schemes MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 9th January, 2026 F. No. 5(3)-B(PD)/2023.—It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs) Notification No.F.16(1)-PD/75 dated 30th… Read More »
AO’s Failure to Verify Depreciation on Impaired Goodwill Justifies Revision Under Section 263 Issue Whether the Principal Commissioner was justified in invoking revisionary jurisdiction under Section 263 on the ground that the Assessing Officer failed to examine the claim of depreciation on goodwill which was impaired to nil in the books of account. Facts Nature… Read More »
Limitation Period is Sacrosanct: Section 148 Notice for AY 2013-14 Issued on 31.07.2022 Held Invalid as Issued Beyond ‘Surviving Time’ Under Reassessment Scheme ISSUE Whether a notice under Section 148 dated 31.07.2022, issued for Assessment Year 2013-14 pursuant to the procedure under Section 148A (following the Supreme Court’s Ashish Agarwal directions), is valid, or… Read More »
Reassessment Invalid Where AO Relies Solely on Suspicious Transaction Report (STR) and Ignores Assessee’s Detailed Reply and Evidence Regarding Related Party Transactions ISSUE Whether the Assessing Officer (AO) can validly pass an order under Section 148A and issue a reopening notice under Section 148 solely based on inputs from a Suspicious Transaction Report (STR)… Read More »
Limitation Period is Sacrosanct: High Court Refuses to Condone Delay Beyond Statutory Maximum Citing Supreme Court Precedent ISSUE Whether the High Court, in exercise of its writ jurisdiction, can direct the Appellate Authority to accept an appeal filed beyond the maximum condonable period prescribed under Section 107 of the GST Act, merely on the… Read More »
Frequently Asked Questions (FAQs) for Health Security se National Security (HSNS) Cess Act, 2026 and HSNS Cess Rules, 2026 Posted On: 02 JAN 2026 5:03PM by PIB Delhi Q1. Who is required to get registered under the HSNS Cess Rules? Ans. Every taxable person as per section 3 of the Health Security se National Security Cess Act, 2025… Read More »
Government Notifies Health Security se National Security Cess Rules, 2026 The Central Government has established a comprehensive framework for the implementation of the Health Security se National Security Cess Act, 2025. The key details of the newly notified rules are as follows: Notification & Effective Date: Notified By: Ministry of Finance, Department of Revenue via… Read More »
Madras HC: No GST on Corporate Guarantees Without Consideration if Recipient is Eligible for Full ITC Amman Try Trading Company Private Limited v. State Tax Officer – V (Roving Squad) Madras High Court October 06, 2025 Summary of the Ruling: The Madras High Court quashed a GST demand levied on a corporate guarantee provided without… Read More »
Tobacco Excise Overhaul: Capacity-Based Levy and Revised Rates Effective Feb 2026 1. Capacity-Based Levy Reintroduced Section 3A Notification: The government has notified chewing tobacco, Jarda scented tobacco, and Gutkha under Section 3A of the Central Excise Act, 1944. This mandates that excise duty for these products will be levied based on the production capacity of… Read More »