AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
CESTAT has set aside the confiscation of exotic birds and animals due to insufficient evidence of smuggling, ruling that the Revenue failed to meet the burden of proof required under the Customs Act.
The CESTAT Delhi has quashed a customs duty demand invalidated on the basis of the Directorate of Revenue Intelligence's rejection of origin certificates. This ruling emphasizes the necessity for proper verification before rejecting such documents.
In a recent ruling, CESTAT Delhi upheld the inclusion of the software licence value in the customs value of imported dongles. This decision clarifies the valuation criteria for hardware components linked with software.
The results of the recent auction for Government Stocks reveal significant investor interest, with ₹17,000 crore raised for new GS 2041 and ₹11,000 crore for GS 2076. Cut-off yields indicate a stable investment environment.
Several State Governments have announced an auction to raise ₹18,100 crore through the sale of securities. Andhra Pradesh is the primary contributor with ₹1,000 crore for the re-issue of its 7.56% State Government Securities.
Anjali Tripathi critiques the legal sustainability of the government's takedown of Satluj from ZEE5, raising questions about censorship under Section 69A.
A copyright amendment bill is reportedly in the works despite the absence of public consultations, leading to concerns about transparency. Stakeholders are urging for an open dialogue to enhance the amendment process.
The Gauhati High Court quashed a GST registration cancellation notice for lacking necessary details, emphasizing the need for clarity in notices issued by tax authorities.
The ITAT Kolkata has set aside an income tax addition for alleged bogus purchases, as sales were accepted and suppliers confirmed the transactions under Section 133(6). The ruling emphasizes the significance of corroborating evidence in tax assessments.
The ITAT Pune has ruled that ex-gratia compensation received under the BSNL Voluntary Retirement Scheme 2019 is exempt from tax under Section 10(10B) of the Income Tax Act, recognizing it as retrenchment compensation.
The ITAT Chennai has deleted penalties under Sections 41 and 43 of the BMA, ruling that the non-disclosure of ESOP shares constituted an inadvertent, bona fide omission. This ruling highlights the importance of intent in penalty assessments.
The Bombay High Court has remanded proceedings against a wilful defaulter, allowing for withdrawal of previous orders and ensuring adherence to natural justice norms.
The Rajya Sabha has assessed the implications of Section 43B(h) of the Finance Act 2023, highlighting both the liquidity benefits for MSMEs and challenges regarding buyer evasion.