AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Delhi High Court has ruled that a successor Assessing Officer (AO) cannot reopen an income tax assessment solely based on a differing opinion from the original AO, reaffirming the sanctity of previous assessments.
The Rajasthan High Court has granted interim protection from arrest to a former director involved in a GST input tax credit fraud case, allowing interrogation by the Directorate General of Goods and Services Tax Intelligence (DGGI) under specified conditions.
The Karnataka High Court ruled that the six-month limit under Section 35(4)(b) of the KVAT Act does not prohibit refunds deemed due during a reassessment. This ruling clarifies the interpretation of refund claims in light of reassessment findings.
The Karnataka High Court has upheld a ₹12.61 lakh KVAT demand against Yes Bank, affirming the findings related to the turnover discrepancies in the bank's bullion purchase figures. The court found no perversity in the turnover calculations as argued by the bank.
The ITAT Delhi has set aside reassessment orders concerning assessments where the total profit reported was below ₹50 lakh, ensuring that reopening cannot occur beyond three years.
The Fourth Amendment to FEMA Non-Debt Instruments Rules, 2019 now permits inventory-based e-commerce exports of Indian goods, providing a significant boost to e-commerce businesses. This amendment is consistent with the Foreign Trade Policy 2023.
The Madras High Court quashed a ₹4.56 crore customs duty demand against a clearance facilitator, ruling that insufficient evidence was provided to establish liability. This decision emphasizes the necessity for strong evidentiary support in customs-related penalties.
The Gujarat High Court has ruled that customs authorities cannot indefinitely detain an imported vehicle without a seizure order, ordering the release of a Land Cruiser held beyond the statutory limit. This ruling emphasizes the necessity for procedural compliance from customs officials.
The Allahabad High Court has quashed a GST order due to the violation of natural justice, where a notice was only uploaded to the portal post-registration cancellation.
The ITAT quashed a reassessment order, citing lack of application of mind in PCIT's approval under Section 151 of the Income Tax Act, highlighting the need for thorough review processes.
At the Gujarat High Court Arbitration Centre event, ASG N Venkataraman assured that the Central government will not collect taxes that are not due. This reassurance reflects a commitment to protect businesses from abusive practices by tax officials.
The Madras High Court upheld the deletion of addition under Section 68 related to penny stock gains, emphasizing that mere suspicion does not replace the evidentiary link required to prove price manipulation. This ruling reinforces the necessity for tangible evidence in tax assessments.
The ICAI has reprimanded a Chartered Accountant for conducting three tax audits without a valid certificate of practice and imposed a fine of ₹50,000. This ruling emphasizes the necessity for compliance with certification regulations under the CA Act.