AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
In a recent ruling, the ITAT has deleted an income tax addition of Rs. 23.33 crores, classifying the incorrect entry in the Income Tax Return (ITR) as a simple clerical error. This decision provides a significant precedent for taxpayers disputing high addition amounts based on minor errors.
The Kerala High Court dismissed a review petition after the petitioners did not pursue the relief sought during the hearing process.
The article outlines critical timelines, LSF requirements, and common errors in the FC-GPR reporting process under FEMA regulations. It serves as a guide for practitioners to ensure compliance and accurate submissions.
The Punjab and Haryana High Court has permitted a GST accused to travel internationally, highlighting that the apprehension of flight risk was insufficient to deny the right to travel. The decision emphasizes the balance between personal rights and ongoing GST prosecutions.
The GST limitation periods outline key timelines for issuance of Show Cause Notices (SCNs) and order deadlines under Sections 73, 74, and 74A. The retention period for records has also been clarified, allowing practitioners to navigate compliance requirements effectively.
The GST Appellate Tribunal (GSTAT) has ruled that appeals related to the refund of pre-GST unutilized CENVAT credit must be filed before the CESTAT, not GSTAT.
The Bombay High Court is set to determine if TNMM bench markings can apply to determine Arms Length Price (ALP) at the entity level regarding combined transactions. The hearing allowed the department to raise additional legal questions.
The GST Appellate Tribunal (GSTAT) ruled that the benefit of Input Tax Credit (ITC) is project-specific and cannot exclude buyers based on booking date when construction spans both pre and post-GST periods.
The GST Appellate Tribunal (GSTAT) established that appeals for refund of unutilized CENVAT credits existing prior to GST must be addressed to the CESTAT, not GSTAT.
The compliance calendar for August 2026 was released, detailing critical due dates for Income Tax, GST, and ROC. Key deadlines include TDS/TCS deposits and return filings.
The CBDT has exempted the District Legal Services Authority from income tax for FY 2026-27 on several income sources, promoting non-commercial legal services. This exemption is conditional on compliance with applicable regulations.
The Central Board of Direct Taxes (CBDT) has granted income tax exemption to the Haryana State Board of Technical Education, applicable retrospectively. This move is significant for educational institutions seeking financial relief.
The Income Tax Appellate Tribunal ruled that land designated for roads and gardens cannot be classified as closing stock under Section 145A of the Income Tax Act.