AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Gauhati High Court annulled a GST registration cancellation order, noting the absence of a reasoned decision. The court emphasized the need for accountability in authority actions.
India has broadened the scope for foreign nationals to invest in its stock market, enhancing portfolio investment access while maintaining regulatory safeguards.
The newly introduced Schedule VDA in the Income Tax Return (ITR) framework focuses on transaction-wise reporting of income derived from cryptocurrencies, NFTs, and other Virtual Digital Assets (VDAs), which are taxable at 30% under Section 115BBH.
The ITAT ruled that the Income Tax Department must maintain consistent positions in similar cases concerning long-term capital loss claims.
The Karnataka High Court dismissed an excise duty demand based on inadequate evidence, stating that power consumption alone cannot substantiate claims of clandestine removal.
The Madras High Court clarified that one year of practice is required for registration as an Income Tax Practitioner, while stating it governs registration rather than restricts representation rights.
The Madras High Court ruled that GST Input Tax Credit (ITC) cannot be denied solely based on the retrospective cancellation of a supplier’s registration, underscoring due process in tax claims.
Sellers on platforms like Amazon and Flipkart are cautioned to navigate specific GST traps that could adversely affect profitability, significantly impacting compliance and operations.
The Orissa High Court modified an earlier order to prevent the state from imposing excise duty on liquor MGQ more than once. This ruling clarifies the principle against double taxation in the state’s excise framework.
The Madras High Court ruled that a one-year practice is required for registration as an Income Tax Practitioner. This decision clarifies the regulatory framework governing the eligibility of representatives in tax matters.
The Chhattisgarh High Court dismissed the Revenue's appeal, upholding the ITAT's finding on limitation. The ruling emphasizes the importance of adhering to statutory deadlines in income tax reassessment.
The Reserve Bank of India has introduced a quarterly calendar for state government borrowings, promoting transparency and market efficiency. This initiative involves nine states for better structured funding.
Analyzing the implications of the Income Tax Act, 2025, which reinstates capital gains taxation on share buybacks.