Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The CBIC's latest instruction links mining data with GST data, highlighting risks involving turnover discrepancies and requiring comprehensive fiscal reconciliation. This is critical for stakeholders in the GST framework to manage compliance effectively.
The Punjab and Haryana High Court examined whether the GST portal's upload constitutes valid service, determining the commencement of the limitation period for appeals under Sections 107, 146, and 169 of the CGST Act. This ruling clarifies when parties can initiate appeals relating to GST assessments.
The Karnataka HC ruled that pre-deposit requirements under service tax appeals can be fulfilled using transitional CENVAT credit. This decision alleviates the financial burden on taxpayers by allowing reflected credits in the Electronic Credit Ledger.
The ITAT ruled that the Transferable Development Rights (TDR) sale is taxable as capital gains when land and buildings are surrendered in exchange for acquiring these rights, affirming the applicability of Section 45 of the Income Tax Act.
The GSTAT has upheld a demand for ₹4.72 lakh against cinema operators, asserting that ticket prices must reflect the GST rate reduction from 18% to 12%.
The GSTAT has ordered Laureate Buildwell to disburse ₹14.95 lakh in ITC benefits to its customers following a DGAP investigation into anti-profiteering practices.
The GSTAT ruling on Bhandari Scrap and Safecon affirms clarifications on GST ITC eligibility, particularly regarding supplier tax defaults and the applicability of Section 74 for fraud proceedings.
ITAT ruled that a subsidy from an associated enterprise qualifies as operating revenue, removing a TP adjustment.
The ITAT Bangalore has employed turnover and related party transaction (RPT) filters to exclude certain comparables, while still allowing a Section 10A deduction ahead of offsetting non-10A losses.
The ITAT Mumbai has partially allowed Red Hat India's appeal, remitting transfer pricing issues while permitting working capital adjustments and removing the unearned revenue addition.
The ITAT Bangalore has excluded Infosys and three other comparables from the transfer pricing benchmarking, allowing for working capital adjustment and granting Section 10A deductions on enhanced profits.
The ITAT Hyderabad has excluded six comparables from the transfer pricing analysis due to significant turnover and functional differences. The tribunal also mandated a remanded computation of profit margins alongside a standardized 90-day credit period for receivables adjustment.