AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
FeaturedThe ITAT has ruled that reassessment proceedings initiated after three years are invalid due to improper sanction under Section 151(1). This highlights compliance issues related to procedural guidelines in tax reassessments.
FeaturedThe ITAT quashed a reassessment order against PVR Engineering, citing the denial of cross-examination as a violation of natural justice. This ruling highlights the importance of allowing taxpayers the opportunity to contest incriminating statements.
FeaturedThe introduction of Schedule VDA in Income Tax Returns mandates meticulous transaction-wise reporting for crypto, NFTs, and other virtual digital asset income, facing a tax rate of 30%.
FeaturedThe Supreme Court has set aside High Court orders that quashed JAO-issued reassessment notices and allowed taxpayers to challenge the retrospective amendment under Section 147A. This ruling paves the way for potentially significant tax litigation.
FeaturedThe SAT ruled that income tax paid on unlawful gains cannot be offset against SEBI-ordered disgorgement, reaffirming the integrity of disgorgement as a remedy.
FeaturedIndia has proposed new working groups within BRICS focused on revenue statistics and international taxation to strengthen collaborative tax governance.
FeaturedThe Karnataka High Court ruled that bona fide purchasers should not be penalized for a seller's failure to comply with GST regulations.
FeaturedThe Karnataka High Court has overturned a GST demand of Rs. 78.7 lakh against bona fide purchasers, emphasizing their immunity from penalties due to the seller's non-compliance. This reaffirms the legal protections available to innocent buyers in transactions.
FeaturedThe Income‑Tax (Amendment) Ordinance, 2026 introduces exemptions for Foreign Institutional Investors (FIIs) and the Bureau of Indian Standards (BIS) pertaining to government securities. This initiative aims to bolster global capital inflow into India's debt market and enhance investor confidence.
FeaturedThe Income Tax Act, 2025 replaces the old survey framework under Section 253, adding digital record access and taxpayer safeguards. This marks a significant change in how tax assessments and surveys are conducted in India.
FeaturedFrom April 1, 2026, buyback proceeds will again be taxed as capital gains, allowing the deduction of acquisition costs. This reverts to a model that taxes net gains instead of gross receipts.
FeaturedThe India-Oman Comprehensive Economic Partnership Agreement (CEPA) is now operational, providing duty-free access for the majority of exports. This agreement enhances trade relations and market access for goods and services.
FeaturedThe MCA has amended the CSR Rules, recognizing Zero Coupon Zero Principal instruments issued by Social Stock Exchange-listed NPOs, creating new implementation channels for CSR.