AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The CESTAT ruled that a freight concession under the Wagon Investment Scheme is not taxable, quashing the service tax demand on UltraTech Cement.
CESTAT upheld the entitlement to CENVAT credit on reverse charge services despite an incorrect invoice address, clarifying that procedural irregularities do not warrant denial of credit.
The GST Council has notified new IGST Settlement Rules for 2026 aimed at enhancing the IGST settlement mechanism, as per recommendations from the Finance Ministry.
The Gauhati High Court upheld the validity of consolidated GST show cause notices and orders for multiple financial years, denying writ relief while allowing appeal under Section 107 with interim protection.
The Finance Ministry has announced the introduction of new FEMA Compounding Rules, clarifying procedures and sharing relevant Disposal Data to streamline enforcement. These updates aim to enhance regulatory compliance and efficiency.
The SAFEMA Tribunal has upheld the attachment of ₹7.93 crore under the PMLA in a significant adverse ruling for Manik Bhattacharya. The Tribunal dismissed appeals, reinforcing the necessity for robust evidence in financial investigations.
The Karnataka High Court reversed a Single Judge's decision, affirming that consolidated GST show cause notices for multiple tax periods are permissible.
The Andhra Pradesh High Court has directed the appellate authority to resolve a seven-year-old income tax appeal within four months, providing relief to the taxpayers against coercive recovery actions until the case is decided.
The Karnataka High Court has declined to quash a Recovery of Debts and Bankruptcy Act (RDBA) demand notice issued alongside income tax provisions, advising the appellants to seek One Time Settlement (OTS) with the bank. The court found that the notice was properly issued per the process set out by the Debt Recovery Tribunal.
The ITAT has overturned a transfer pricing addition made on Fujifilm's income, citing a rejection from the Delhi HC regarding the application of the Bright Line Test for determining the arm’s length price.
The ITAT mandated that a valuation report from the District Valuation Officer is essential for establishing the fair market value of property in disputes arising under Section 50C(2) of the Income Tax Act.
The ITAT ruled that the income tax addition based solely on statements made during a survey is impermissible. The case reinforces the principle that tax assessments require corroborative evidence beyond mere statements.
The ITAT has determined that cash sales already included in a company's turnover cannot be taxed again, to prevent double taxation. This assertion clarifies the tax treatment of cash sales in financial reporting.