Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
Recent FEMA reforms have streamlined downstream investments in India, yet unresolved issues regarding foreign ownership and pricing rules persist. This highlights the need for regulatory clarification to better facilitate investment.
ITAT ruled that interest from government grants held in fixed deposits is not taxable if defined as project fund corpus in an MOU.
The ITAT ruled that Section 12AB registration for trusts cannot be denied due to lack of an irrevocability clause.
ITAT has ruled that missing year-wise bifurcation in satisfaction notes does not invalidate Section 153C orders.
This article discusses the complexities surrounding the reporting of cryptocurrency in income tax filings, covering legal provisions, compliance issues, and reconciliation challenges.
CBIC has launched a fast-track customs clearance procedure for pollution response equipment, enhancing emergency response capabilities.
CESTAT has deleted penalties imposed on an importer who correctly relied on a certificate issued by an authorized agency during customs assessment.
CESTAT has ruled that customs cannot confiscate gold if GST records and purchase documents establish lawful ownership, highlighting the burden of proof under Section 123.
The Gujarat High Court has quashed a corrigendum that introduced new allegations after the conclusion of the adjudication hearing, affirming the need for procedural integrity.
CESTAT ruled that assessed shipping bills cannot be reopened after export, setting aside the denial of DEPB benefits for the importer.
CESTAT has ruled that customs must apply sequential valuation rules before invoking Rule 8 for duty assessments, emphasizing the necessity of following established procedures.
The Gauhati High Court has quashed the customs seizure of areca nuts, ruling that mere suspicion cannot substitute the statutory requirement for establishing foreign origin.