AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
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.
The Madras High Court approved the extended limitation for GST orders concerning fictitious input tax credit claims, emphasizing procedural compliance by tax authorities.
The Madras High Court has remanded GST assessment orders related to SEZ reverse charge mechanism claims for fresh examination due to a lack of verification of critical documents.
High Courts have mandated that proper notice, reasons, and objective criteria are essential prior to canceling GST registrations retrospectively as per Section 29(2).