Union Budget 2026: MAT Credit - a ‘Transitional Incentive’ Put on the Clock

Impact of Budget 2026 Proposals on Middle-class

NCLAT: Backs NSE in co-location matter; Affirms CCI-order closing dominance abuse case

IBC Round-Up – January, 2026

HC: Tribunal alone can direct production of additional evidence, not 'matter of right' under Rule 29

• In Favour of Assessee
• Citation Number : TS-150-HC-2026(TEL)

SEBI: Publishes Consultation Paper proposing sharp cut in minimum investment for Social Impact Funds

AAR: ‘Masala/Meetha Paan’ supplied with betel leaf not composite supply, attracts 18% GST

• In Favour of Respondent
• Citation Number : TS-1066-AAR(MAH)-2025-GST

HC: Directs lower TDS certificate basis FAR analysis & non-India point of sale for Travelport

• In Favour of Assessee
• Citation Number : TS-149-HC-2026(DEL)

HC: No TDS u/s 40(a)(i) as no expertise/know-how transferred while rendering services; No taxability under DTAA

• In Favour of Assessee
• Citation Number : TS-148-HC-2026(MAD)

RBI: Amends MSME lending norms; Mandates collateral-free loans up to Rs. 20 lakh

AAAR: Medical services under State Government Scheme exempt as ‘pure services’; Quashes AAR ruling

• In Favour of Appellant
• Citation Number : TS-58-AAAR(OD)-2026-GST

Rationalization of Prosecution and Penalties Framework

HC: No vicarious liability on directors in criminal proceedings without arraigining company as accused

AAAR: GAIL’s cross-country underground gas pipelines not plant & machinery; ITC inadmissible

• In Favour of Respondent
• Citation Number : TS-57-AAAR(OD)-2026-GST

Union Budget 2026 – Penalty Proceedings are Now Embedded in Assessment Orders, Albeit with Broadened Immunity

DGFT extends mandatory Halal certification to 20 additional export destinations

Bombay HC to examine permissibility of consolidated ‘block-period’ SCNs u/s 74

GSTAT: No cogent basis for Wai Wai maker to hike price post-GST reduction; Upholds profiteering

• In Favour of Respondent
• Citation Number : TS-56-GSTAT(DEL)-2026-GST

HC: HC: Sec. 275(1)(a) governs penalty limitation when linked to appellate proceedings; Upholds penalty against Thalapathy Vijay

• In Favour of Revenue
• Citation Number : TS-147-HC-2026(MAD)

HC: Upholds 'Kerly Impasse' in infringement dispute relating to TM “FIELDMARSHAL”; Mutually injuncts both parties