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Dear Reader,
Greetings for the day!!!
We are pleased to share the recent Tax notification and circulars.
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Direct Tax
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The Protocol between India and Qatar w.r.t. DTAA came into force on 10th September 2025 and shall be effective w.e.f. 1stApril 2026.
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To bring in uniformity in allowance of pre-operative expenses by AOs, CBDT has given specific direction to AOs for verification of expenses in assessment of entertainment sector. The direction particularly covers pre-operative expenses, declaration of expenses of feature film and expenses incurred on production of feature film, while emphasizing compliance with filing of Form 52A and adherence to Rules 9A and 9B of the Income-tax Rules.
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CBDT provides recognition to “M/s Institute of Advanced Medical Research & Innovations Forum, (PAN: AAFCI5125E),” as a recognized institution for ‘scientific research’ u/s 35(1)(iia) of the Act, from A.Y. 2025-26 to A.Y. 2029-30.
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CBDT provides recognition to “M/s Mazumdar Shaw Medical
Foundation, (PAN: AAICM6964A),” as a recognized institution for ‘scientific research’ u/s 35(1)(iia) of the Act, from A.Y. 2025-26 to A.Y. 2029-30.
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CBDT provides recognition to “U.P. Awas Evam Vikas Parishad” (PAN: AAAJU0103A), for tax exemption u/s 10(46A)(b) of the Income tax Act.
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CBDT provides recognition to “Rajasthan State Seed and Organic Certification Agency” (PAN: AAAAR4064L), for tax exemption u/s 10(46A)(b) of the Income tax Act.
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CBDT provides recognition to “Chennai Metropolitan Water Supply and Sewerage Board” (PAN: AAALM0037B), for tax exemption u/s 10(46A)(b) of the Income tax Act.
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| Goods And Services Tax |
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FAQs on GSTR-9 & GSTR-9C for FY 2024–25
The filing for GSTR-9 and GSTR-9C for FY 2024–25 is now live on the GST portal. On October 16, 2025, the GST Network (GSTN) released a comprehensive FAQ document to help taxpayers understand key reporting aspects across various tables of the annual return and reconciliation statement. This guidance aims to simplify compliance and ensure accuracy in reporting.
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GST Landmark Judgement: Protection for Genuine Buyers
In a significant ruling, the Supreme Court, in the case of Commissioner Trade & Tax Delhi vs. M/s Shanti Kiran India Pvt. Ltd. (Civil Appeal Nos. 2042–2047/2015 & 9902/2017), dated October 9, 2025, upheld the Delhi High Court’s view protecting genuine taxpayers. The Court held that if a buyer has purchased goods or services from a registered dealer and paid GST in good faith, they remain eligible for Input Tax Credit (ITC) even if the supplier’s registration was later cancelled or the supplier failed to deposit tax with the Government. The judgment reaffirmed that bona fide purchasing dealers cannot be denied ITC if the sellers were registered at the time of the transaction, and any action for default should lie against the erring seller, not the genuine buyer.
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