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Profits from Kuri business chit fund equivalent held under a trust are eligible for exemption under Section 11 of the Income Tax Act, ruled the ITAT. The tribunal determined that…
The MCD Municipal Corporation of Delhi has extended the deadline for a 10% property tax rebate. This extension offers further relief to property owners, encouraging timely tax…
The CESTAT has ruled that a Customs Broker is not liable for verifying the correctness of importers' documents. The tribunal clarified that the primary responsibility for the…
The ITAT has permitted a fresh hearing for a taxpayer claiming rental income was not taxed as they were merely a "rent collector," but with conditions. The tribunal recognized the…
The Himachal Pradesh High Court has directed the state to reimburse SGST incentive to Sylvan Greens by July 31, 2025, and ordered interest at 6% on any delay. This ruling provides…
The Himachal Pradesh High Court has upheld the acquittal in a cheque bounce case, noting the complainant's lack of financial capacity and non-impleadment of the society concerned.…
The CESTAT has ruled that a taxpayer's voluntary confession makes cross-examination unnecessary, upholding the confiscation of smuggled foreign-origin cigarettes. The tribunal…
The Gauhati High Court has allowed bail in a GST fraud case involving the passing on of Input Tax Credit ITC . The court likely considered factors such as the nature of the…
The Madhya Pradesh High Court has directed the GST Department to re-open its portal after a GST SCN Show Cause Notice uploaded under the 'Additional Notices' tab led to the…
The Chhattisgarh High Court has quashed an order taking cognizance of a PMLA offense under Section 3 read with Section 4, citing a lack of hearing mandated under Section 22 3 1 of…
The ITAT has ruled that only registered sale agreements are eligible for capital gain exemption under Section 54 of the Income Tax Act, stating that unregistered agreements lack…
The ITAT has ruled that ownership of property in the individual capacity of partners cannot be considered for Long Term Capital Gain LTCG exemption when transferred to their…
The CESTAT has ruled that foreclosure charges are not taxable as liquidated damages under Service Tax, allowing a refund for Sundaram Finance. The tribunal clarified that these…
SEBI has clarified rebalancing timelines for mutual funds in 'all passive breach' cases. This clarification provides much-needed guidance to Asset Management Companies AMCs on how…
The Meghalaya High Court has directed the CPC Centralized Processing Centre and the Assessing Officer AO to accept a physical income tax return even after the expiry of the…
The Kerala High Court has ruled that Customs cannot deny benefit on decalcified fish scale imported under the Advance Authorisation Scheme. The court observed that the imported…
The Kerala High Court has ruled that a prior cutoff date is not applicable under Section 245C of the Income Tax Act for settlement applications. This means that taxpayers seeking…
The CBDT has reiterated its directive to Income Tax officials to ask only relevant and specific questions during scrutiny proceedings. This instruction aims to prevent harassment…
The Chhattisgarh High Court has restored a dismissed tax case against SECL South Eastern Coalfields Limited , granting the company 7 days to cure procedural defaults. The court's…
The RBI has tightened KYC and monitoring rules for the Aadhaar Payment System AePS to prevent frauds. These enhanced measures aim to bolster the security and integrity of digital…
The Himachal Pradesh High Court has stayed reassessment proceedings under Section 148 of the Income Tax Act, awaiting the Supreme Court's verdict in the Technical Textiles case.…
The Rajasthan High Court has stayed a direction to deposit a certain amount for fresh consideration of an OTS One-Time Settlement proposal, citing non-compliance with an RBI…
The Madras High Court has set aside a GST liability order on transportation services to TASMAC, citing the authorities' failure to consider the Reverse Charge Mechanism RCM…
A Madras High Court ruling allowed a GST payer to contest an order under Section 74 of the CGST Act, alleging it was issued to circumvent the limitation period prescribed under…
The DGFT has issued a new notification imposing port restrictions on the import of certain goods from Bangladesh. This measure likely aims to regulate specific trade flows,…
The Madras High Court has ruled that a GST order issued without applying mind to the reply of the assessee must be quashed. The court emphasized that tax authorities are obligated…
The Calcutta High Court has allowed the release of an accused in an illegal appointment case in government schools in the absence of arrest under PMLA. This decision, similar to…
The Centre has initiated an anti-dumping probe into methyl acetoacetate imports from Switzerland and para tertiary butyl phenol from China and Taiwan. This investigation aims to…
The Income Tax Department has reportedly picked 1.6 lakh returns for scrutiny, a figure three times higher than usual. This significant increase indicates a heightened focus on…
The Calcutta High Court has allowed the release of an accused under BNSS Bhartiya Nyaya Sanhita, 2023 , stating that bail as per Section 45 of PMLA is not necessary in the absence…
The ITAT has stated that the duty lies on the revenue to ascertain whether bogus deals are genuine tax planning or evasion when making bogus transaction additions. The tribunal…
The Punjab and Haryana High Court has ruled that a High Court cannot direct ICICI Bank to take possession of mortgaged property as a private bank is not a "State" under Article…
The CESTAT has remanded a matter for fresh verification after the denial of CENVAT credit for lack of documents on input services. The tribunal found that the credit was denied…
The Calcutta High Court has ruled that SEBI cannot be compelled to hand over documents already in the custody of the accused, allowing SEBI's revision application. The court…
The Gauhati High Court has refused to allow the transfer of a financial fraud case by employees of Mahindra & Mahindra Finance to Assam. The court likely determined that the…
The CESTAT has ruled that concrete pumps placed at clients' disposal attract "supply of tangible goods" tax, not GTA. The tribunal clarified that when concrete pumps are provided…
The Madras High Court has ruled that the dismissal of a GST appeal for delay without proper justification is liable to interference. The court emphasized that appellate…
The Madras High Court has directed a decision on an income tax penalty notice that was not properly served initially and only reminded after four months of its issuance. The court…
Profits from Kuri business chit fund equivalent held under a trust are eligible for exemption under Section 11 of the Income Tax Act, ruled the ITAT. The tribunal determined that…
The ITAT has directed the revenue to examine tax evasion concerning accommodation entries received in the guise of unsecured loans from shell companies. The tribunal noted that…
The ITAT has ruled that superannuation contribution is allowable if paid before the return due date and the fund is approved. The tribunal clarified that an employer's…
Philips India received relief from the ITAT, which upheld 30% depreciation on moulds used by exclusive vendors. The tribunal recognized that these moulds, though not directly used…
The CESTAT has classified Ready Mix Concrete RMC transportation as a Goods Transport Agency GTA service, rejecting a tax demand for the "supply of tangible goods." The tribunal…
The Delhi High Court has denied bail to an accused in a terror funding and money laundering case, citing prima facie material under PMLA. The court observed that there was…
The CBDT has directed tax officers to ensure proper application of mind when issuing scrutiny notices and to avoid irrelevant queries. This directive emphasizes the need for tax…
The Finance Ministry is considering an amendment to the Income Tax Bill 2025 to restore Section 80M for the 22% tax regime. This move aims to provide relief to companies that…
A CBI court granted bail to a deputy registrar of NCLT Mumbai accused in a bribery case. The case highlights concerns of corruption within quasi-judicial institutions. While…
The Supreme Court quashed the preventive detention of a law student in Madhya Pradesh, ruling it as excessive and unjustified. The Court reiterated that such detention must be…
The Madras High Court emphasized that NGOs receiving foreign aid should not be viewed with inherent suspicion unless proven to violate laws. The bench highlighted the role NGOs…
The Supreme Court ruled that a registered sale deed alone does not conclusively establish ownership unless followed by actual possession and title transfer. The verdict reinforces…
Profits from Kuri business chit fund equivalent held under a trust are eligible for exemption under Section 11 of the Income Tax Act, ruled the ITAT. The tribunal determined that…
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