Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The CBDT has outlined parameters for the compulsory scrutiny of income tax returns for FY 2025-26. This includes identifying significant cases involving searches and reassessments.
Real estate promoters are now liable to pay GST under the reverse charge mechanism for TDR, FSI, and long-term leases received.
The Karnataka High Court remanded cases related to the retrospective insertion of Section 147A of the Income Tax Act, granting assessees the opportunity to challenge its constitutional validity.
The ITAT has established that an amount exceeding ₹50 lakhs must be present for reopening an assessment after three years, invalidating prior approvals under Section 151.
The Income Tax Appellate Tribunal (ITAT) has ruled that no assessment or reassessment proceedings can be initiated against a company during the moratorium period under the Insolvency and Bankruptcy Code, 2016.
In response to increasing backlog, the ITAT has implemented a priority disposal mechanism for appeals filed by 2022. This initiative aims at expediting hearings and reducing delays in tax litigation.
The CBI has arrested an Income Tax Office Superintendent in Odisha for allegedly accepting a bribe to delete a duplicate PAN card. This case highlights ongoing efforts to combat corruption in public offices.
SEBI has found prima facie evidence of revenue misrepresentation by Rajesh Exports, highlighting a lack of verifiable subsidiary records supporting reported revenues. This raises significant concerns about the accuracy of financial disclosures.
Recent MCA changes broaden CSR scope by endorsing investment in Zero Coupon Zero Principal Instruments.
New amendments by the MCA allow companies to utilize CSR funds through Zero Coupon Zero Principal instruments listed on the Social Stock Exchange, offering a regulated avenue for CSR investments.
The Pune ITAT ruled that Section 68 applies to customer advances, affirming that real estate developers must substantiate these credits to avoid tax complications.
The Bombay High Court ruled that compensation under the National Highways Act is exempt from TDS as per the Land Acquisition Act. This decision quashed earlier orders imposing TDS deductions.