NICAI Updates
CA Raj Chawla
1. Full-stop is not an END, because we can Write a new Sentence after it. Same in LIFE, Mistake is not the Real End, it can be a Real Beginning of SUCCESS.
2. Each Relationship has Feelings & Differences, It is always better to melt in Feelings than to get Freeze In Differences.
NICAI Updates
1. Deposit Advance Tax for the F.Y.2025-26 A.Y.2026-27 by 15-03-2026. You are requested to deposit upto 100% For 4th instalment on or before 15-03-2026 to avoid interest on income tax not allowable as expense, However Bank interest paid on advance tax is allowable as expense.
2. Delhi High Court adjudicated a writ petition concerning Assessment Year 2011–12, wherein the petitioner challenged a notice dated 30.03.2018 issued under Section 148 of the Income Tax Act, 1961, as well as an order dated 06.12.2018 disposing of its objections to the reassessment proceedings.
3. Gujarat High Court has quashed a GST adjudication order due to a critical flaw - the notice didn't specify the date, time, or venue of the personal hearing. This omission led to a violation of the principles of natural justice, as the assessee wasn't given a fair chance to appear and defend themselves.
4. In the case of Aarti Enterprise v. State of Gujarat, decided on January 22, 2026, the court emphasized the importance of providing adequate notice and opportunity for a hearing. The authorities had issued reminders, but without specifying the hearing details, rendering them ineffective.
5. This ruling underscores the need for tax authorities to ensure procedural fairness and adherence to natural justice principles. The court relied on Section 75 read with Section 17 of the Central Goods and Services Tax Act, 2017, to quash the impugned order and all consequential proceedings.
6. SEBI has issued new guidelines for credit rating agencies (CRAs) to enhance regulatory clarity and protect investor interests. Here are the key updates:
· Expanded Scope
· Disclosure Norms
· Segregation of Activities
· Client Communication
· Grievance Redressal.
7. The Central Government has introduced the Baggage Rules, 2026, along with the New Customs Baggage (Declaration and Processing) Regulations, 2026 and a Master Circular. These updates are designed to make travel easier, faster, and more transparent for international passengers. “These rules are designed to make international travel hassle-free while keeping pace with rising passenger volumes and modern travel needs.
8. For getting more updates on job vacancies by employers and employees Kindly join our page CA Job Network https://www.facebook.com/groups/200820690083153
With best regards
CA (Dr) Raj Chawla
B.Com (Hons), FCA, FCS, FCMA, LLB
MIMA, DISA, MICA, Phd, ASA (Aust), CMP (USA)
712, New Delhi House
27,Barakhamba Road, New Delhi-110001
Ph. Off. 011-43581083
Cell: 98110-81083