Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
Gujarat HC held that transitional ITC under Section 140 is not subject to cash refunds under Section 54(3), but remains available for utilization.
The ITAT has partly allowed an appeal, citing the Assessing Officer's lack of independent inquiry before making additions under Section 69.
The ITAT quashed a penalty imposed under Section 271G, recognizing substantial compliance in diamond trade documentation as sufficient grounds for relief from penalties.
The ITAT has restored an appeal, confirming that disallowance under Section 14A cannot exceed the amount of exempt income, referencing precedent cases in its ruling.
The ITAT has ruled that rectification proceedings under Section 154 cannot be used to address TDS deductions that require detailed inquiries. This decision clarifies limitations on rectification applications.
The CBIC has issued a circular clarifying the conditions under which customs refund or drawback claims can be processed for duties paid through duty credit scrips, addressing industry concerns.
The Karnataka High Court ruled that a statutory first charge takes precedence over payment priorities listed in the SARFAESI Act, favoring the Telangana Tax Department in a property dispute.
The Income Tax Appellate Tribunal has held that the interest paid by Bank of Nova Scotia to the Reserve Bank of India for failing to maintain the Statutory Liquidity Ratio (SLR) is compensatory in nature and thus eligible for deduction under the Income Tax Act.
The Madras High Court has remitted GST assessments conditional on the payment of outstanding disputed taxes before a fresh adjudication.
The Orissa High Court established that GST refunds cannot be indefinitely withheld based on the mere possibility of a future appeal where no existing proceedings are underway at the time.
The Madras High Court has granted a delayed GST appeal, noting that uploading an order on a common portal does not diminish a business's opportunity to appeal.
The Calcutta High Court restored a delayed GST appeal, stating that limitation grounds should not override sufficient cause claims.