Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Allahabad High Court has set aside a VAT penalty, ruling there was no finding of deliberate turnover concealment. The court mandated costs of ₹5,000 be awarded.
The Himachal Pradesh High Court set aside the retrospective cancellation of GST registration related to 'Project Anveshan'. The court directed the petitioner to provide a detailed reply to the Proper Officer without delving into case merits, focusing solely on the issue of retrospectivity.
The ITAT has ruled that tax charged to individuals and Hindu Undivided Families (HUF) should be at normal rates, not Maximum Marginal Rate (MMR).
High-value transactions alone do not trigger income tax notices; discrepancies between reported transactions and income are crucial.
The ITAT has ruled that production costs for television serials and programs can be classified as revenue expenditure despite their potential for repeat telecasts.
The ITAT ruled that properties purchased separately cannot qualify for Section 54F income tax exemptions despite being subsequently amalgamated.
The Income Tax Department has introduced a new feature that allows taxpayers to access and manage their foreign assets. Taxpayers can now download, verify, and correct overseas financial data through the AIS Compliance Portal.
The DGFT has amended the Handbook of Procedure 2023 to introduce Tariff Rate Quotas (TRQ) for imports of dates and marble under the India-Oman Comprehensive Economic Partnership Agreement. Applications for TRQ authorisations must be filed online, subject to customs notifications.
CAAR Delhi declined an advance ruling on roasted areca nut classification since the matter had been adjudicated by the Madras HC under Section 28I.
CESTAT upheld the confiscation of 26 gold biscuits lacking purchase proof but allowed the release of gold ornaments, a gold bar, and ₹1.88 crore cash.
The Bombay High Court has annulled a Section 148 notice against Indian Express Commercial Ventures for being issued post the statutory timeline, reinforcing the legal limitations on reassessment notices.
Reliance Jio has won a Cenvat credit case in the Bombay High Court following the withdrawal of revenue department's appeal, entitling the company to a refund of ₹253.3 crores. The case aligns with the Supreme Court’s precedent set in the Bharti Airtel case.