[Opinion] The 2025 OECD Update on Fixed Place Permanent Establishment and Work from Home
Sheetal Bhatia – [2025] 181 taxmann.com 279 (Article) During the pandemic I advised a mid-sized engineering firm whose overseas project managers started working from their homes abroad. What seemed like a harmless operational tweak quickly raised a tax question – Could those home offices create a permanent establishment (PE) for the foreign enterprise? The OECD’s 2025 […]
HC Quashes Reassessment Based on Borrowed Satisfaction Without Live Link
Case Details: Mita Ashish Desai vs. Deputy Commissioner of Income-tax [2025] 180 taxmann.com 815 (Gujarat) Judiciary and Counsel Details Bhargav D. Karia & Pranav Trivedi, JJ. Tushar Hemani & Ms Vaibhavi K Parikh, Advs. for the Petitioner. Ms Maithili D Mehta, Senior Standing Counsel for the Respondent. Facts of the Case The assessee filed her return of […]
Negative Blocking of ITC Ledger Beyond Available Balance Not Allowed | HC
Case Details: Mannat Steels vs. Union of India [2025] 181 taxmann.com 196 (Punjab & Haryana) Judiciary and Counsel Details Mrs Lisa Gill & Deepak Manchanda, JJ. Pankaj Gupta, Adv. for the Petitioner. Ajay Kalra, Senior Standing Counsel for the Respondent. Facts of the Case The petitioner, challenged the blocking of its electronic credit ledger (ECL). It […]
SEBI–IEPFA Hold Niveshak Shivir to Resolve Unclaimed Dividend and Share Claims
PR No. 81/2025; Dated: 09.12.2025 1. Objective of the Initiative The Securities and Exchange Board of India (SEBI) and the Investor Education and Protection Fund Authority (IEPFA) jointly conducted the fourth “Niveshak Shivir” in Jaipur. The programme is part of a nationwide outreach initiative aimed at: Reducing the stock of unclaimed assets, unpaid dividends, and […]
SEBI Allows AIFs to Launch or Convert to AI-Only and LVF Schemes
CIRCULAR HO/19/34/11(5)2025-AFD-POD1/I/188/2025’; Dated: 08.12.2025 1. Regulatory Context SEBI has allowed Alternative Investment Funds (AIFs) to either: Launch new schemes exclusively for accredited investors or Large Value Funds (LVFs), or Convert existing schemes into such AI-only or LVF structures. The revised framework provides regulatory relaxations to funds catering to these investor segments, acknowledging their sophistication, risk […]
No Reinstatement When Employee Accepts Termination Without Protest | HC
Case Details: Ceasefire Industries Ltd. vs. Anuj Kumar Poddar – [2025] 181 taxmann.com 114 (HC-Jharkhand) Judiciary and Counsel Details Deepak Roshan, J. Mrs Shilpi Sandil Gadodia & Anish Lall, Advs. for the Petitioner. Gautam Rakesh, Adv for the Respondent. Facts of the Case In the instant case, the petitioner company engaged in manufacturing and sale of fire […]
SEBI Issues Draft Updated Master Circular for FPIs and DDPs for Public Consultation
SEBI Report; Dated: 05.12.2025 1. Background The Securities and Exchange Board of India (SEBI) has released a draft updated and simplified Master Circular for Foreign Portfolio Investors (FPIs) and Designated Depository Participants (DDPs). The document is now open for public consultation, reflecting SEBI’s ongoing effort to modernise and harmonise the regulatory framework governing foreign portfolio […]
RBI Issues New Licensing & Classification Guidelines for UCBs
Notification No. RBI/DOR/2025-26/120, Dated: 04.12.2025 1. Introduction The Reserve Bank of India (RBI) has officially notified the Urban Co-operative Banks (UCBs) Licensing, Scheduling and Regulatory Classification Guidelines, introducing a new unified framework to streamline the regulation and categorisation of UCBs across the country. The guidelines aim to strengthen governance, improve financial stability, and enhance operational […]
RBI Repeals Market Mechanism Framework for Large Borrowers
Press Release: 2025-2026/1629, Dated: 04.12.2025 1. Introduction The Reserve Bank of India (RBI) has issued fresh Amendment Directions formally repealing the ‘Market Mechanism Framework’ (MMF) that earlier governed credit discipline for large borrowers. This decision marks a significant regulatory shift in the approach to monitoring large corporate exposures and ensuring timely repayment discipline within the […]
NFRA Launches Outreach Programme and Audit Firm Survey to Strengthen Audit Quality
The National Financial Reporting Authority (NFRA) has undertaken multiple strategic initiatives to elevate audit quality, strengthen compliance, and support audit professionals across the country. These efforts reflect NFRA’s commitment to enhancing transparency, accountability, and governance within the financial reporting ecosystem. 1. Nationwide Outreach Programme NFRA conducted a large-scale outreach programme across India to: Engage with […]