Weekly Digest of Notifications & Circulars – Week Ending 26th April 2026
(Income Tax, GST, Central Excise, Custom Duty, DGFT, SEBI, MCA, IBBI, RBI) (Click the Link for Notification/ Circular as issued) […]
Misc, Weekly Digest
April 2026
Income Tax, Judiciary
Income Tax, HC Delhi Judgement Dated 10/04/2026 – Interest on deposits linked to business setup was capital receipt and not taxable as Income From Other Sources
Case of VNG Automotive Private Limited vs ACIT, HC Delhi Judgement Dated 10th April 2026. HC held that interest earned on funds borrowed
Income Tax, Judiciary
Income Tax, HC Delhi Judgement Dated 07/04/2026 – Buyback not taxable as Property Acquisition due to Share Extinguishment
Case of PCIT vs Globe Capital markets Ltd, HC Delhi Judgement Dated 7th April 2026. HC held that buy-back of shares results
Income Tax, Judiciary
Income Tax, HC Delhi Judgement Dated 23/09/2025 – Interest not taxable due to Direct Nexus with Real Estate Project
Case of PCIT vs Brahma Center Development Pvt Ltd, HC Delhi Judgement Dated 23rd September 2025. HC held that interest earned on fixed
GST, GST Notifications
GST Notification 01/2026 Dated 21/04/2026 – Extension of due date of March GSTR 3B to 21st April 2026
The notification extends the due date for furnishing the return in FORM GSTR-3B for the month of March 2026. The
GST, GSTN Advisory
GST, GSTN Advisory Dated 21/04/2026 – Introduction of Invoice Management System (IMS) Offline Tool
The Invoice Management System (IMS) was introduced on the GST portal from the October 2024 tax period enabling the taxpayers
AAR Ruling, GST
GST, AAR Rajasthan Ruling Dated 27/03/2026 – Biodegradable nature of bags is outside scope, GST rate depends on Classification
Case of Sunita Kohli, AAR Rajasthan Ruling Dated 27th March 2026. AAR clarified that determining if a product is ‘biodegradable’ falls outside
AAR Ruling, GST
GST, AAR Rajasthan Ruling Dated 25/03/2026 – Online Coaching not OIDAR as Human Intervention Dominates Service
Case of Allen Career Institute Private Limited, AAR Rajasthan Ruling Dated 25th March 2026. AAR clarified that online coaching services provided by the party
Custom Notifications, Customs
Customs Notification 41/2026 (NT) Dated 24/04/2026 – Duty Drawback Rate revised for Gold jewellery & Silver Jewellery/Articles
The notification amends earlier notification 77/2023 dated 20th October 2023, revising the All Industry Rates (AIR) of duty drawback for specified
Custom Notifications, Customs
Customs Notification 40/2026 (NT) Dated 23/04/2026 – Hirnoda (Jaipur) notified for Import Export Handling
The notification amends earlier notification No. 12/97 dated 2nd April 1997, by adding a new customs location at Village Hirnoda, Jaipur,