#IncomeTax #CaseLaw

Sec. 54F Deduction Allowed as AO Failed to Justify Differential Treatment of Co-Owners Under Same JDA: ITAT

Read the (Hyderabad) Tribunal Order: https://taxmann.social/sjJVl
Citation: [2026] 191 taxmann.com 551 (Hyderabad-Trib.)

𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐨𝐧 𝐋𝐚𝐰𝐬 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://taxmann.social/ayDWB

#TaxmannUpdates #Section54F

#GST #CaseLaw

Provisional Attachment of Director's Relatives’ Bank Accounts Ceased Automatically After One Year as No Renewal Allowed: HC

Read the (Gauhati) High Court Order: https://taxmann.social/vjJBp
Citation: [2026] 190 taxmann.com 204 (Gauhati)

𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐨𝐧 𝐋𝐚𝐰𝐬 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://taxmann.social/ayDWB

#TaxmannUpdates #ProvisionalAttachment

#GST #CaseLaw

Departmental Appeal Below Monetary Limit Dismissed Absent Commissioner's Specific Authorization: GSTAT

Read the (Agra) GSTAT Order: https://taxmann.social/CjJNO
Citation: [2026] 191 taxmann.com 853 (GSTAT-AGRA)

𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐨𝐧 𝐋𝐚𝐰𝐬 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://taxmann.social/ayDWB

#TaxmannUpdates #MonetaryLimit

#GST #CaseLaw

Detention of Job Work Goods Unjustified as No Taxable Supply Found and Job-Work Movement Rules Complied: GSTAT

Read the (Bengaluru) GSTAT Order: https://taxmann.social/5jJM5
Citation: [2026] 191 taxmann.com 849 (GSTAT-BENGALURU)

𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐨𝐧 𝐋𝐚𝐰𝐬 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://taxmann.social/ayDWB

#TaxmannUpdates #JobWork

#InternationalTaxation #CaseLaw

Existence of PE and Profit Attribution Require Functional Analysis; Ad Hoc Attribution of Profits Unsustainable: ITAT

Read the (Mumbai) Tribunal Order: https://taxmann.social/HjJ1T
Citation: [2026] 191 taxmann.com 902 (Mumbai-Trib.)

𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐨𝐧 𝐋𝐚𝐰𝐬 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://taxmann.social/ayDWB

#TaxmannUpdates #PermanentEstablishment

#InsolvencyLaw #CaseLaw

NCLT Cannot Adjudicate Electricity-Sector Disputes or Set-Off Claims Falling Within Jurisdiction of Competent Regulatory Forum

Read the (Hyderabad) NCLT Order: https://taxmann.social/EjJ36
Citation: [2026] 190 taxmann.com 751 (NCLT-Hyd.)

𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐨𝐧 𝐋𝐚𝐰𝐬 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://taxmann.social/ayDWB

#TaxmannUpdates #NCLTJurisdiction

#CompanyLaw #CaseLaw

Execution Allowed Subject to Asset Disclosure, Limited Attachment and Corrected Computation: NCLT

Read the (Ahmedabad) NCLT Order: https://taxmann.social/yjJ89
Citation: [2026] 190 taxmann.com 1090 (NCLT-Ahd.)

𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐨𝐧 𝐋𝐚𝐰𝐬 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://taxmann.social/ayDWB

#TaxmannUpdates #ExecutionProceedings

#InsolvencyLaw #CaseLaw

Personal Guarantor's Insolvency Application Under Section 94 Admitted; Plea to Restrain Property Possession Disposed of as Infructuous: NCLT

Read the (New Delhi) NCLT Order: https://taxmann.social/jjJ4v
Citation: [2026] 190 taxmann.com 1158 (NCLT-New Delhi)

𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐨𝐧 𝐋𝐚𝐰𝐬 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://taxmann.social/ayDWB

#TaxmannUpdates #PersonalGuarantor

#IncomeTax #Opinion

Merging Charitable Trusts and NPOs Under the Income-tax Act, 2025: Decoding New Rule 189A and Form 112A

Read the Full Article for FREE! https://taxmann.social/kjKte [14 Mins | Read Time]
Authored By: Parth Patel

𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐨𝐧 𝐋𝐚𝐰𝐬 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://taxmann.social/ayDWB

#TaxmannUpdates #CharitableTrusts

#CompanyLaw #Opinion

Paradigm Shift in the Role of Company Secretaries From Compliance Stewards to Strategic Governance Partners in Advancing ESG Objectives

Read the Full Article for FREE! https://taxmann.social/RjKuW [18 Mins | Read Time]
Authored By: Nachiket Sudhir Sohani

𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐨𝐧 𝐋𝐚𝐰𝐬 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://taxmann.social/ayDWB

#TaxmannUpdates #ESG

#GST #CaseLaw

Concessional IGST Under Notification 41/2017 Denied for Supplies Routed via Third-Party Premises: GSTAT

Read the (Chandigarh) GSTAT Order: https://taxmann.social/2jKiz
Citation: [2026] 191 taxmann.com 845 (GSTAT-CHANDIGARH)

𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐨𝐧 𝐋𝐚𝐰𝐬 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://taxmann.social/ayDWB

#TaxmannUpdates #ConcessionalIGST

#BankingLaw #CaseLaw

Delayed Possession of Auctioned Property Did Not Warrant Compensation Where Bank Held Only Symbolic Possession: HC

Read the (Madras) High Court Order: https://taxmann.social/ljKod
Citation: [2026] 191 taxmann.com 868 (Madras)

𝐅𝐨𝐫 𝐃𝐚𝐢𝐥𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬 𝐨𝐧 𝐋𝐚𝐰𝐬 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚, 𝐅𝐨𝐥𝐥𝐨𝐰 '𝐓𝐚𝐱𝐦𝐚𝐧𝐧' 𝐨𝐧 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: https://taxmann.social/ayDWB

#TaxmannUpdates #SARFAESIAct

#WorldCorporateLawNews #CorporateLaw
 
[New Column] World Corporate Law News is designed to inform you about the most significant global corporate, securities, competition, and banking law developments.
 
This Week’s Highlights:
‣ 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐢𝐞𝐬 𝐋𝐚𝐰
• MAS announces measures to support Insurers’ Investments in Infrastructure and Securitised Assets
• SEC grants Exemptive Relief from Treasury Clearing Requirements for certain Inter-Affiliate and Non-U.S. repo Transactions

Explore the Full Column Now: https://taxmann.social/8jKQ9 [4-Minute Read]
Prepared by Taxmann’s Research & Editorial Team
 
#TaxmannUpdates #MAS #MonetaryAuthorityOfSingapore #InsuranceSector #InsuranceInvestments #InfrastructureInvestment #InfrastructureFinance #SecuritisedAssets

#Accounting #Opinion
Under proposed Ind AS 118, financial statements must balance meaningful summaries with sufficient supporting detail. While primary financial statements present an entity's financial position, performance and cash flows, the notes provide material information needed to understand those figures.
This article examines their complementary roles and the principles governing presentation, disclosure, materiality and the level of detail in financial reporting.
‣ 𝐒𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞𝐝 𝐒𝐮𝐦𝐦𝐚𝐫𝐲 – How primary financial statements provide an understandable overview and support comparisons across entities and periods
‣ 𝐑𝐨𝐥𝐞 𝐨𝐟 𝐍𝐨𝐭𝐞𝐬 – Why material breakdowns, accounting policies and supplementary information are essential to understanding reported amounts
‣ 𝐏𝐫𝐞𝐬𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐯𝐬. 𝐃𝐢𝐬𝐜𝐥𝐨𝐬𝐮𝐫𝐞 – How entities determine whether information belongs in primary financial statements or accompanying notes

‣ 𝐋𝐢𝐧𝐞 𝐈𝐭𝐞𝐦𝐬 & 𝐒𝐮𝐛𝐭𝐨𝐭𝐚𝐥𝐬 – When separate presentation or additional line items are needed to provide a useful structured summary
‣ 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐢𝐭𝐲 & 𝐃𝐢𝐬𝐚𝐠𝐠𝐫𝐞𝐠𝐚𝐭𝐢𝐨𝐧 – Why material information must not be obscured by excessive aggregation or insufficient disclosure

Read the Full Article for FREE! https://taxmann.social/ijKEO [11 Mins | Read Time]
Authored by: CA Bhawna Grover – Manager & CA Prajwal Jha – Assistant Manager | Research and Advisory, Taxmann

#TaxmannUpdates #IndAS #ProposedIndAS118 #FinancialReporting #FinancialStatements #Materiality #AccountingStandards

Make every day count with Taxmann Daily.
https://taxmann.social/2jLpB [Read Time: 5 minutes]

Stay current on the most significant developments across tax and allied laws—authoritative, succinct, actionable.

Join our community of 100,000+ professionals; access content curated by Taxmann’s Editorial Board from 1,000+ sources – https://taxmann.social/tRzS

#TaxmannUpdates #IncomeTax #ITAT #CBDT #Reassessment #Section148 #TaxExemptions

#GlobalFinancialInsights #Accounting #Auditing

[𝐍𝐞𝐰 𝐂𝐨𝐥𝐮𝐦𝐧] 𝐆𝐥𝐨𝐛𝐚𝐥 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 is designed to inform you about the most significant global developments in financial reporting and auditing practices.
𝐇𝐞𝐫𝐞'𝐬 𝐚 𝐆𝐥𝐢𝐦𝐩𝐬𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐖𝐞𝐞𝐤'𝐬 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:
‣ 𝐓𝐡𝐞 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝𝐬 𝐁𝐨𝐚𝐫𝐝 (𝐈𝐒𝐒𝐁)
• ISSB update October 2026
‣ 𝐓𝐡𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝𝐬 𝐁𝐨𝐚𝐫𝐝 (𝐅𝐀𝐒𝐁)
• FASB proposes targeted improvements to indexation guidance for equity-linked contracts
‣ 𝐓𝐡𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐑𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠 𝐂𝐨𝐮𝐧𝐜𝐢𝐥 (𝐅𝐑𝐂)
• FRC publishes factsheet on accounting requirements for public benefit entities
• FRC seeks stakeholder views on the future development of actuarial standards for pension illustrations

‣ 𝐓𝐡𝐞 𝐏𝐮𝐛𝐥𝐢𝐜 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐎𝐯𝐞𝐫𝐬𝐢𝐠𝐡𝐭 𝐁𝐨𝐚𝐫𝐝 (𝐏𝐂𝐀𝐎𝐁)
• PCAOB proposes amendments to auditing standard on comfort letters

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐂𝐨𝐥𝐮𝐦𝐧 𝐍𝐨𝐰: https://taxmann.social/9jLsn [6-Minute Read]
Prepared by 𝐓𝐚𝐱𝐦𝐚𝐧𝐧'𝐬 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 & 𝐄𝐝𝐢𝐭𝐨𝐫𝐢𝐚𝐥 𝐓𝐞𝐚𝐦

#TaxmannUpdates #ISSB #InternationalSustainabilityStandardsBoard #IFRS #IFRSS1 #SASB #SASBStandards #SustainabilityReporting