Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The ITAT has ruled that payments made under Corporate Social Responsibility (CSR) fulfill the criteria for deductions under Section 80G of the Income Tax Act, provided all conditions are met.
The Rajasthan High Court has quashed a penalty against an Assessing Officer, ruling that an error of judgment does not constitute misconduct. The decision underscores the standards required for disciplinary actions against officers.
The ITAT has ruled that cess payments alone cannot serve as evidence of unaccounted turnover, emphasizing the need for clear taxation criteria for commission agents. The ruling reiterates that tax should be based on commission income rather than consignors’ turnover.
SEBI has released a new Master Circular consolidating all previously issued AIF-related circulars into a unified compliance framework, enhancing regulatory clarity for Alternate Investment Funds.
The Madras High Court has set aside a hypertechnical rejection of belated Income Tax Returns filed by a Cooperative Society, emphasizing the need for reasonable consideration.
The Pune ITAT ruled that cash deposits cannot be treated as unexplained money if business turnover from scrap is accepted in other years. This decision considers the taxpayer's consistent reporting history.
The Bangalore ITAT ruled that disallowance under Section 40A(3) cannot be based solely on assumptions. The Tribunal quashed the addition because payments were shown to have been made through banking channels, thus satisfying compliance requirements.
This article discusses how recent amendments to the Companies Act impacted corporate tax treatment related to penalties and CSR expenditure.
CESTAT ruled that multifunction devices with a primary function of protection remain classified as relays, thereby ensuring their eligibility for customs exemption.
Delhi High Court quashed PRC orders due to negligence in examining claims concerning the non-transmission of data to ICEGATE, reaffirming the importance of due process.
The Government announced detailed Rules of Origin under the India-Oman CEPA to determine eligibility for preferential customs duty treatment, essential for importers and exporters.
CESTAT held that importers can still contest enhanced customs valuation even after submitting a consent letter. The decision reaffirms statutory rights for importers in customs assessments.