AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
CESTAT Ahmedabad ruled that a partnership firm penalized under customs law cannot have a separate penalty imposed on its partners for the same violation unless specifically provided by statutes.
The Calcutta High Court has allowed the withdrawal of appeals and granted condonation of limitation under the Limitation Act for filing before the Sales Tax Appellate Authority, ensuring compliance with relevant statutory conditions.
The Delhi High Court has dismissed a Public Interest Litigation (PIL) that sought to impose a tax on agricultural income in the national capital, deeming the plea 'highly misconceived'. This reinforces the precedent that agricultural income remains exempt from taxation.
The ITAT Surat ruled that the bank transactions in question reflected a cheque discounting business and could not be treated as unexplained cash credits under Section 68. Only the estimated commission income was retained for taxation.
The Indian government has increased customs duty on gold and silver to 5%, platinum to 5.4%, and catalysts to 4.35%. This change is part of ongoing amendments to the customs duty framework relevant to precious metals.
The ITAT ruled that SEBI's findings on scrip manipulation invalidate the bogus loss addition on genuine trading transactions, deleting a ₹72.28 lakh addition.
The ITAT ruled that brand promotion and trade incentive expenses are revenue in nature and deleted a ₹6.66 crore addition.
Following the disclosure of massive cash deposits and GSTR-3B turnover, the ITAT remanded the case to restore a ₹41.98 lakh deduction claim.
The ITAT granted partial relief, restricting the estimated profit rate on suppressed turnover from 8% to 2.5% for the taxpayer.
The ITAT has ruled that interest earned from investments in nationalized banks qualifies for deduction under Section 80P(2).
The ITAT ruled that action against a ₹41.63 lakh agricultural income claim was unjustified due to detailed AO verification.
The ITAT has upheld that penalty proceedings under Section 271(1)(c) cannot be resolved before the corresponding quantum appeal is adjudicated.
CESTAT ruled that mandarin juice is distinct from orange juice and should be categorized under the residual citrus juice category for customs purposes.