ITAT Sikkim ruled that merely being Sikkimese doesn't automatically qualify for Section 10 26AAA income tax exemption - all statutory conditions must be strictly met. The tribunal…
08/05/20251 min read
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ITAT Sikkim ruled that merely being Sikkimese doesn't automatically qualify for Section 10 26AAA income tax exemption - all statutory conditions must be strictly met. The tribunal…
The Andhra Pradesh High Court ruled that liquid carbon dioxide is leviable to VAT, rejecting the petitioner's argument that it should be classified as a non-taxable gas. The court…
ITAT Delhi set aside CIT A 's deletion of unexplained cash deposit additions because the appellate order lacked proper analysis of remand report findings. The tribunal found the…
ITAT Chennai remanded a ₹60 lakh long-term capital gains addition back to the assessing officer, finding the land transfer assessment under a development agreement was incomplete.…
ITAT Mumbai ruled that corpus contributions to Section 12A-registered trusts qualify as capital receipts, not taxable income. The bench distinguished between regular donations…
The Bombay High Court condoned a five-year delay in rectifying defective income tax returns, accepting the taxpayer's financial hardship justification but imposing strict…
The Income Tax Appellate Tribunal ITAT restored an addition case to the assessing officer, holding that inadequate hearing opportunity vitiated the original order imposing…
The CBDT has issued strict monitoring guidelines for top advance tax payers those paying ₹1 crore+ annually to prevent bogus exemption claims in FY2025-26. The directive mandates…
The Central Board of Direct Taxes CBDT has notified revised ITR-V and Acknowledgement forms for Assessment Year 2025-26, introducing additional verification requirements and…
The Bombay High Court permitted an NRI to record his statement via video-conference in an economic offenses case, directing the Economic Offences Wing to release his passport…
The Patna High Court upheld a ₹1.8 crore service tax demand against a travel agency that failed to substantiate its record-loss-in-fire claim. The agency couldn't produce…
CESTAT awarded 9% interest on ₹28 lakh service tax refund delayed by five years due to departmental confusion over jurisdiction. The tribunal held that taxpayers shouldn't suffer…
CESTAT quashed an excise duty demand of ₹4.5 crore, ruling that the appropriate rate of duty for finished goods cleared at nil rate must mirror the rate applicable to normal…
Flipspaces, an interior design tech startup, secured $3.5 million in a bridge round from existing investors. The funds will accelerate product development and market expansion for…
CarTrade Tech reported strong Q4 FY25 results with revenue growing 35% YoY to ₹169 crore and profits doubling to ₹42 crore. The auto marketplace benefited from increased used car…
Motilal Oswal Private Equity has invested ₹200 crore in Lahori, a premium frozen food brand, marking its first major bet in the packaged foods space. The investment will help…
Routematic, an employee transportation solutions provider, raised $40 million in a funding round led by Fullerton Carbon Action Fund and Shift4Good. The investment will fuel…
The Allahabad High Court ruled that non-consensual unnatural sex between husband and wife is punishable under Section 377 IPC, rejecting marital immunity claims. The landmark…
The Bombay High Court held that advising an employee to "convince customers like you convince your husband" doesn't constitute outraging modesty under Section 354 IPC. The court…
Info Edge has marked up the valuation of its holdings in Zomato and PB Fintech Policybazaar to $3.7 billion, reflecting the recent recovery in new-age tech stocks. The upward…
The Securities Appellate Tribunal SAT refused to stay SEBI's interim order that barred Gensol Engineering's promoters from the securities market for alleged fund diversion. SAT…
The Supreme Court quashed an FIR against a woman who allegedly lied about her job to get married, calling it an abuse of criminal process. The bench observed that matrimonial…
The Supreme Court ruled that PMLA accused are entitled to receive all materials collected during investigation, even if not relied upon by the Enforcement Directorate ED in the…
The Supreme Court agreed to review its controversial 2022 Vijay Madanlal Choudhary judgment that upheld several stringent provisions of the Prevention of Money Laundering Act PMLA…
The Supreme Court held that appeals filed beyond the 45-day limitation period under Section 61 of the Insolvency and Bankruptcy Code cannot be condoned by the NCLAT. The court…
The Supreme Court reserved judgment in a suo motu case regarding child rape matters, where the amicus curiae highlighted the lack of special POCSO courts in many states. The…
The Bombay High Court made significant observations about consent in sexual assault cases, stating that a woman's character or sexual history is irrelevant to determining whether…
The Allahabad High Court ruled that the POCSO Act criminalizes all sexual relationships with minors, even if consensual or romantic in nature. The court emphasized that the law…
The Delhi High Court delivered a significant judgment in the Amazon versus Beverly Hills Polo Club trademark infringement case, awarding substantial damages for brand imitation.…
The Delhi High Court modified the bail conditions of Christian Michel, the alleged middleman in the AgustaWestland VVIP chopper scam case. The court relaxed certain stringent…
The Bombay High Court ruled that asking an employee to "convince clients like a husband" does not constitute outraging modesty under Section 354 of the Indian Penal Code. The…
The GST Network has postponed the implementation of invoice-wise reporting functionality in GSTR-7 returns due to unresolved technical glitches. Taxpayers were originally mandated…
The Bombay High Court expressed serious concern over the police practice of copy-pasting witness statements in criminal cases, terming it a dangerous culture that undermines…
The Himachal Pradesh High Court ruled that higher pension benefits cannot be granted based on duties performed temporarily or for short durations. The court held that pension…
The Central Board of Direct Taxes CBDT has notified the new ITR-6 form for Assessment Year 2025-26, introducing several significant changes for companies. The revised form…
The Delhi High Court clarified that the provision for maximum three adjournments in GST proceedings refers to substantive adjournments, not merely three hearing dates. The court…
The ITAT ruled that merely charging fees does not automatically disqualify a trust from claiming tax exemption under the proviso to Section 2 15 of the Income Tax Act. The…
The Delhi High Court ruled that the three-year time limit for income tax reassessment applies uniformly, regardless of whether the original assessment was conducted under the old…
The Patna High Court upheld the validity of income tax notices where the mandatory Document Identification Number DIN requirement was initially missing but subsequently rectified…
Delhi High Court dismissed a writ petition challenging GST refund rejection, emphasizing the availability of statutory appellate remedies. Justice Sanjeev Sachdeva ruled that…
Bangalore CESTAT denied service tax exemption for skill development programs lacking NSDC certification, upholding ₹2.7 crore demands against a training provider. The tribunal…
Mumbai ITAT ruled that rental income from surplus properties remains tax-exempt for charitable trusts when ancillary to their main objectives. The case involved a medical trust…
CESTAT ordered payment of interest on a refund that was delayed due to jurisdictional confusion between tax authorities. The tribunal held that taxpayers should not suffer due to…
The Delhi High Court delivered a landmark judgment holding that compulsory fly ash sales by thermal power plants don't constitute taxable business income. Justice Yashwant Varma…
SEBI has overhauled its 2008 regulations governing securitised debt instruments SDIs and security receipts SRs , introducing comprehensive reforms to strengthen India's ₹1.2 lakh…
The Patna High Court has invalidated income tax notices lacking proper reasoning, establishing that natural justice requires basic disclosure of issues even at preliminary stages.…
The Allahabad High Court has ruled that civil suits challenging NPA classifications are barred under Section 34 of SARFAESI Act when the debt involves secured assets. Justice…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT strongly criticized the service tax department for adopting a shortcut approach by taxing entire contracts without…
The Allahabad High Court has ruled that transferring an old machine from head office to branch for internal use doesn't constitute taxable transfer under income tax laws. Justice…
SEBI has mandated all KYC Registration Agencies KRAs to prominently display a standardized Investor Charter on their websites, detailing client rights and grievance redressal…
ITAT Sikkim ruled that merely being Sikkimese doesn't automatically qualify for Section 10 26AAA income tax exemption - all statutory conditions must be strictly met. The tribunal…
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