News & Judgements

The Central Board of Direct Taxes CBDT introduced amendments to the Income-tax Rules, adding new safe harbor provisions for raw diamond businesses. The changes specify acceptable…

Tax professionals are advised to follow a comprehensive checklist while preparing the GST Annual Return GSTR-9 . The checklist includes reconciling turnover, ensuring accurate ITC…

The CESTAT ruled that the sale of a building before its construction is completed constitutes a "works contract" under GST regulations. The case arose in the context of Adani…

Actor Jackie Shroff filed a contempt plea in the NCLT against former Sony Entertainment stakeholders for alleged non-compliance with a court order. The plea seeks enforcement of…

The ITAT directed the Assessing Officer AO to reconsider the tax treatment of interest compensation awarded for land acquisition in Noida. The case involved disputed tax liability…

The ITAT remanded a case involving the rejection of a capital gains exemption claim due to notices issued during the COVID-19 pandemic being unserved. The tribunal noted that…

The NCLAT ruled that a part of the resolution plan cannot be provided to an operational creditor before the plan’s approval by the Committee of Creditors CoC . The tribunal stated…

The ITAT upheld the decision of the CIT A to allow a ₹2.47 crore deduction under Section 80IB 10 of the Income-tax Act for a housing project. The deduction was granted as the…

The NCLAT held that share application money deposited with a corporate debtor cannot be treated as "financial debt" under Section 5 8 of the Insolvency and Bankruptcy Code IBC .…

The Bombay High Court quashed a police order canceling an arms license issued to Puja Khedkar's mother, citing procedural lapses. The court ruled that such orders require legally…

The NCLAT ruled that information memorandums, prepared based on resolution plans submitted and approved by the Committee of Creditors CoC , cannot be modified unilaterally. The…

The National Company Law Appellate Tribunal NCLAT ruled that commercial spaces allotted by a corporate debtor through unregistered allotment letters cannot be excluded from the…

The ITAT deleted an addition of ₹52.4 lakh made by tax authorities, confirming the legitimacy of the cash deposits derived from a land sale. The taxpayer provided documentary…

The National Company Law Appellate Tribunal NCLAT ruled that a sale certificate issued to a successful bidder can be canceled if the bid amount is not paid within 90 days. The…

The GST Council introduced a new Invoice Management System IMS for claiming Input Tax Credit ITC , aimed at enhancing transparency and compliance. The system mandates that…

The Kerala High Court granted bail to P.R. Aravindakshan in the Karavannur Co-Operative Bank scam. While considering the severity of the alleged offenses, the court noted that…

The CBI arrested two income-tax officials in Silchar, Assam, for accepting bribes. The officials were caught red-handed while demanding and receiving unlawful payments from…

A 90-year-old individual in Surat fell victim to a ₹1 crore fraud perpetrated by imposters posing as officials from the CBI and ED. The fraudsters created a sense of urgency,…

The ITAT directed a re-examination of a trust's application for registration under Section 12AA of the Income-tax Act after it was incorrectly denied. The denial stemmed from a…

Professionals and business owners have expressed frustration with delays and errors on the Ministry of Corporate Affairs MCA portal affecting LLP and company compliances. Users…

The Authority for Advance Rulings AAR clarified that a 1.5% GST rate is applicable for the construction of affordable residential apartments under the Real Estate Projects REP…

The Delhi High Court ruled that an audit report is not an “order of determination” under Section 106 1 of the Finance Act, 2013. The case centered on whether an audit report could…

The CESTAT overturned a Commissioner’s decision to recover an excise refund without first challenging the refund order itself. The tribunal ruled that recovery actions must follow…

The ITAT canceled a 30% ad hoc disallowance of expenses, citing lack of justification provided by the assessing officer. The disallowance was imposed on expenses claimed by the…

The ITAT condoned a delay of 2,564 days in filing an appeal against an assessment order, emphasizing that no undue benefit arises from not preferring an appeal. The taxpayer…

The ITAT rejected late Income Tax Return ITR filings by jewelry owners during the demonetization period, upholding additions made for unexplained cash deposits. The tribunal found…

The Allahabad High Court restrained the state GST department from initiating proceedings for assessment years already acted upon by the central GST authorities. It maintained that…

Recent case law under Section 80P of the Income-tax Act, 1961, highlights evolving judicial interpretations of deductions available to cooperative societies. Courts continue to…

The ITAT has ordered the reconsideration of an application rejection for tax exemption under Section 80G of the Income-tax Act. The application was denied despite the taxpayer…

The Income Tax Appellate Tribunal ITAT set aside a penalty levied under Section 271 1 c of the Income-tax Act, ruling no concealment of income had occurred. The penalty was…

The CBDT has exempted diplomatic missions, consulates, and UN agencies from the provisions of Section 194N of the Income-tax Act, which mandates tax deduction at source on cash…

Unified Payments Interface UPI recorded a staggering 16 billion transactions worth ₹23.49 lakh crore in October 2024, reflecting growing adoption of digital payments in India. The…

The Kerala High Court clarified that when a woman's modesty is outraged under Section 354 of the IPC, the offender's actions must shock societal decency and morality. In a case…

The Central Board of Direct Taxes CBDT has called for a speedy review of the Income-tax Act, 1961, to ensure better implementation. Key officers from different regions will…

India achieved a record GST collection of ₹1.82 lakh crore in November, marking an 8.5% growth compared to the same month last year. This increase highlights sustained economic…

The RBI lifted restrictions on Sachin Bansal’s Navi Finserv, enabling its expansion in the NBFC sector. The move reflects regulatory trust in the company’s compliance measures.

The Calcutta High Court criticized petitioners for disruptive behavior during YouTube live-streamed court sessions, highlighting the misuse of technology. The court expressed…

A report on global accounting scandals highlights major cases that damaged the reputations of leading accounting firms. Examples include financial misstatements, audit failures,…

The ITAT quashed a penalty notice issued under Section 271 1 c of the Income Tax Act, citing the absence of specific details regarding the offense committed. The tribunal held…

The Madras High Court ruled that a personal hearing is mandatory if the decision on rectification applications adversely affects the filer. The court emphasized the principles of…

The CBDT extended the deadline for filing Income Tax Returns ITR for taxpayers requiring transfer pricing reports under Section 92E. The new due date provides businesses…

The Customs, Excise, and Service Tax Appellate Tribunal CESTAT ruled that Mandap Keeper Services, which involve renting spaces for events, do not qualify as taxable “support…

The Bombay High Court granted conditional bail to a Customs House Agent CHA accused in a 191.60 kg heroin seizure case after being imprisoned for over three years. The court noted…

The Madras High Court ruled that State GST proceedings are valid even after the Central Department conducts a search, provided the quantum of demand and the period of assessment…

Income tax authorities imposed a penalty of ₹2.3 crore on Torrent Pharmaceuticals for alleged tax non-compliance. The penalty arose from discrepancies identified during…

The Directorate General of Foreign Trade DGFT amended the import policy conditions for electronic integrated circuits ICs , including processors, controllers, memories, and…

The Madras High Court upheld Rule 86A of the CGST Rules, allowing GST authorities to block Input Tax Credit ITC even when the electronic credit ledger ECL shows a zero balance.…

Larsen & Toubro L&T faced a ₹173.24 crore GST penalty and demand order after authorities identified alleged tax discrepancies in its filings. The company plans to contest the…

The Income Tax Department uncovered a ₹700 crore tax evasion involving undisclosed properties owned by NRIs in Dubai and other foreign locations. The evasion came to light during…

GSTN issued a detailed advisory on GST e-invoicing, providing clarity on glossary terms and compliance steps. The advisory serves as a guide for businesses to understand key…