Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The ITAT has ruled that taxpayers retain the right to carry forward capital losses even if a revised ITR is filed after the deadline, provided the original ITR was submitted on time. This decision safeguards taxpayer rights within income tax regulations.
The CESTAT Mumbai has ruled that quicklime is classified under CTH 2522, setting aside previous duty demand and penalties while confirming exemption benefits.
CESTAT Delhi held that imported quicklime with less than 98% CaO is duly classified under Chapter 25, allowing the appeal and confirming prior duties were misclassified.
CESTAT has determined that Quick Lime should be classified under CTH 2522, directing the refund of duty and interest, while setting aside previous demands for duty.
The Reserve Bank of India conducted an underwriting auction on July 24, 2026, establishing the cut-off rate for underwriting commission payable to Primary Dealers. This auction pertains to additional competitive underwriting of government securities.
The Gauhati High Court ruled that objections related to the non-issuance of Form GST ASMT-10 and audit material can be raised before the statutory appellate authority. This decision clarifies the procedural rights of taxpayers under GST.
The ITAT has upheld that 'interest on interest' is not applicable in the context of partial refund adjustments as per Section 244A of the Income Tax Act.
The government has granted income tax exemption to the Delhi Pollution Control Committee, applicable to non-commercial activities, ensuring continuity across taxing regimes.
The ITAT has ruled that a Chartered Accountant can claim presumptive taxation under Section 44ADA for remuneration received from a partnership in a professional firm.
In a recent decision, the ITAT ruled that interest and dividend income earned from cooperative banks qualifies for tax deduction under Section 80P(2)(d) of the Income Tax Act.
The ITAT has ruled that cash deposits made during demonetisation can be explained through agricultural income and regular business turnover, thus deleting the additional tax assessment.
The Gauhati High Court quashed the customs seizure of 17,200 kilograms of areca nuts, stating that no evidence linked the goods to illegal foreign import from Myanmar.