News & Judgements

The Allahabad High Court ruled that goods cannot be detained under Section 129 1 b of the GST Act when proper tax invoices and e-way bills are present, even if the GST…

The Allahabad High Court quashed detention and penalty orders issued by the GST authorities, ruling that the Central GST e-way bill was sufficient even when the state’s bill was…

The NCLAT ruled that a bank deposit made in pursuance of a one-time settlement OTS proposal remains a corporate debtor's asset if the settlement fails. In this case, the Bank of…

Samsung has filed a lawsuit against the Competition Commission of India CCI over the alleged illegal seizure of its data, which it claims is being used in an antitrust…

The Jharkhand High Court granted anticipatory bail to individuals accused of smuggling coal, relying on tax invoices and e-way bills provided as evidence of legal transactions.…

The ITAT has directed a fresh assessment after disallowing commission payments due to non-deduction of TDS under Section 40 a ia of the Income Tax Act. The issue arose when the…

The ITAT upheld the CIT A 's decision to quash assessments in 153C proceedings due to a lack of incriminating evidence. The case involved an assessment under Section 153C of the…

The ITAT reduced an income assessment to just 0.3% of credits, considering similar assessments made in subsequent years. The case involved a taxpayer whose income was assessed…

The ITAT ruled that capital gains tax applies to the owner of a property as proven by registered sale deeds. In this case, the taxpayer sold a property but was challenged by the…

The ITAT ruled that the procedure under Section 50C must be followed when the sale consideration differs from the stamp value. This case involved a taxpayer who sold property for…

The Allahabad High Court ruled that goods released by the GST department cannot be claimed by the driver under the proprietor’s ownership. The case involved a dispute over the…

The Rajasthan High Court has remanded a case back to the Supreme Court after erroneously granting benefits under Section 10 20 instead of Section 11/12, as claimed by the Jaipur…

The Directorate General of Foreign Trade DGFT has issued a procedure for managing imports of restricted IT hardware. This procedure aims to regulate the importation of specific IT…

The Supreme Court set aside a High Court order that had upheld a notice under Section 148A of the Income Tax Act issued to a deceased person. The Court ruled that the…

The Supreme Court upheld the penalty under Section 271 AAA of the Income Tax Act for undisclosed income, emphasizing that the source of the income must be specified and…

The Orissa High Court stayed the show-cause notice SCN issued by the Centre on a GST matter that was already being addressed by the state. The case involved a dispute over the…

The ITAT backed an assessee’s position that setting off Short-Term Capital Loss STCL from the sale of shares against Long-Term Capital Gains LTCG was a valid tax-planning…

Sun Pharmaceuticals has been fined Rs 65 lakh by Customs authorities for short payment of customs duty. The company was found to have underpaid customs duties on certain imports,…

The ITAT ruled that a security deposit received in connection with an arbitration award is taxable, following earlier uncertainty. The case revolved around the question of whether…

A woman at Tamil Nadu's Trichy International Airport has alleged harassment by Customs authorities after 183 grams of jewelry seized during a routine inspection was not returned.…

The Union Government has provided a major relief to airlines by reducing the VAT on Aviation Turbine Fuel ATF to 1%. This decision is expected to reduce the operational costs for…

The ITAT ruled that cash gifts from a father and father-in-law are not taxable under the Income Tax Act. The case involved a taxpayer who received cash gifts from family members…

The ITAT remanded a case involving a 32-day delay in filing an appeal, asking the Commissioner of Income Tax Appeals to adjudicate the exemption claim under Section 10 10C of the…

The Supreme Court upheld the High Court’s decision to dismiss a writ petition challenging the availability of a statutory remedy before the GST Appellate Authority. The Court…

The Supreme Court criticized the revenue authorities for wasting six years in litigation over imposing a penalty under the APVAT Act instead of issuing a show-cause notice SCN .…

The ITAT has upheld the CIT A ’s order on the eligibility of interest income for deduction under Section 80P 2 d of the Income Tax Act. The case involved a cooperative society…

The ITAT has ordered the deletion of an addition of Rs 52.25 lakh under Section 69A, ruling that the amount was properly accounted for as income. The case involved an addition to…

The Supreme Court has sought a report from the government regarding the non-functioning of the Goods and Services Tax Appellate Tribunal GSTAT . The case pertains to the delayed…

The NCLAT held that the NCLT can allow the date of default to be amended in CIRP proceedings. The case involved the amendment of the date of default in corporate insolvency…

The Punjab GST Department has uncovered a fake billing scam in Ludhiana worth Rs 163 crore. The scam involved the creation of fake invoices and fraudulent claims for GST refunds.…

The ITAT has deleted additions made to the income of Oswal Fab Knits, ruling that no incriminating material was found. The case involved an investigation into the income of Oswal…

The ITAT has granted exemptions under Section 1112 of the Income Tax Act for a temple trust, ruling that the 12A 1 BA amendment does not apply for the 2017-18 assessment year. The…

SEBI has introduced a new definition for Environment, Social, and Governance ESG debt securities and updated the regulations for non-convertible securities. This new regulation…

The Allahabad High Court has ruled that there is no need for Form 26B once Form 5 has been issued under the VSV Act. The case pertains to a taxpayer’s request for a refund under…

The ITAT has dismissed the Revenue's appeal in a tax case as the tax effect was below Rs 60 lakh, in accordance with the CBDT’s guidelines. The case concerned a tax appeal by the…

The ITAT has remanded a case to the CIT A regarding reassessment based on assumptions of bogus Long-Term Capital Gains LTCG and Short-Term Capital Gains STCG . The case revolves…

The NCLAT has ruled that security interest shall stand relinquished on default payment of liquidation costs under Section 21A 3 of the Liquidation Regulations. The case concerns a…

The ITAT has directed the restriction of disallowance under Section 14A of the Income Tax Act to Rs 12 lakh, following the previous year’s ruling. The case involved the…

The Karta of a Hindu Undivided Family HUF has won partial relief at the ITAT, with the tribunal setting aside an addition for re-calculation. The case involved the assessment of a…

The Madras High Court has quashed an assessment order concerning capital gains, ruling that petitioners are entitled to prior notice before any adverse conclusion is drawn. The…

The Madras High Court has allowed re-adjudication on discrepancies in Input Tax Credit ITC claims and non-reversal of ITC for credit notes. The case pertains to discrepancies…

The Madras High Court has ordered a fresh assessment in a case involving insufficient details about employees' cash transactions. The case centers around the tax authorities'…

Retailers have raised strong objections against the proposed 35% GST slab, urging the Finance Minister and the GST Council to reconsider the decision. The move to introduce a…

West Bengal has passed the GST Amendment Bill 2024, aligning its laws with recommendations made by the GST Council. The bill aims to address several technical aspects of the GST…

Income tax refunds for the financial year 2024-25 have witnessed a significant 46.31% increase, reaching Rs 3.08 lakh crore, according to the Finance Ministry. This surge…

Coal India has reported a CSR spend exceeding Rs. 5,570 crore over the past decade, reflecting its commitment to corporate social responsibility. The company has made substantial…

Aurobindo Pharma and Glenmark Pharmaceuticals have both initiated voluntary recalls of certain products due to quality concerns. Aurobindo’s recall involves specific lots of…

An Indian-origin whistleblower from OpenAI has tragically passed away by suicide. The whistleblower had raised concerns regarding ethical issues and practices within OpenAI. The…

The Bombay Stock Exchange BSE and the National Stock Exchange NSE have fined Go Digit for failing to furnish necessary data in time. The penalties come as part of the exchanges'…

The Madras High Court has granted permission for the payment of GST-related interest in monthly installments due to the taxpayer's financial crisis. The taxpayer had requested a…