AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The ITAT stated that penalties for misreporting income cannot be levied where a co-operative society was penalized for incorrect PAN classification. This emphasizes the necessity for accurate classification to avoid punitive measures.
The ITAT ruled that a delayed filing of Form 67 does not extinguish an assessee's right to claim Foreign Tax Credit (FTC). This decision emphasizes the principle of substance over form in tax matters.
The Madras High Court has dismissed writ petitions challenging GST Section 74 show cause notices, allowing for replies and adjudication on merits.
The ITAT ruled that a low-income individual labeled as a name-lender for a co-operative society is not liable for commission income additions due to lack of evidence.
The government has issued an income tax exemption for BBNDA, applicable between FY 2018-19 and 2022-23, contingent on compliance with non-commercial activities.
Customs duty concessions for specified UK imports effective from 15 July 2026, as per Notification No. 29/2026-Customs, subject to TRQ and origin criteria.
The CBIC has revised tariff values for edible oils, gold, silver, and brass scrap effective from 16 July 2026, while maintaining the areca nut tariff value.
The CBDT has announced an exemption on TDS for payments to 14 categories of units operating in the International Financial Services Centre (IFSC) as per the newly enacted Income Tax Act.
A new compliance checklist for Income Tax Forms 2026 has been released, detailing essential forms, due dates, and filing requirements for taxpayers, employers, and chartered accountants.
ITAT Pune has reduced the gross profit addition to 2% by applying comparative analysis of past scrutiny records and similar businesses. This ruling may influence future assessments.
A proposed GST measure may offer enhanced ITC protection to genuine buyers providing GSTR-2B and payment proof. However, it hasn't yet been enacted into law.
The GSTAT will now generate tokens for appeal filing, but incomplete requests may lead to void statuses.
This week's ITAT roundup covers significant decisions reported between July 5 and July 11, 2026.