N/Atax
The Gold Duty Shock: A Symptom, Not the Disease
The article discusses the high increase in gold import duty as a response to economic pressures and its potential impact on smuggling and the jewelry sector.
May 20, 2026Read more →
Legal News & Insights
AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
tax News
Calcutta High Courttax
Calcutta HC Restores GST Registration with Conditions
The Calcutta High Court has restored GST registration subject to the condition of filing pending returns and payment of dues, underscoring the importance of compliance for business operations.
May 20, 2026Read more →
Income Tax Appellate Tribunaltax
Disallowance Based on Comparative Analysis Unsustainable Without Identifying Defects in Expense Claims: ITAT Deletes ₹25.48 Lakh Additions
The ITAT ruled that ad-hoc disallowances of expenses are not sustainable unless documentary defects are identified in the claims. The ₹25.48 lakh addition was deleted due to lack of evidence.
May 20, 2026Read more →
Income Tax Appellate Tribunaltax
Revisionary Powers u/s 264 Cannot Be Used to Enhance Addition: ITAT
The ITAT has clarified that the revisionary powers under Section 264 of the Income Tax Act cannot be used to increase the tax addition against an assessee, maintaining the benevolent nature of these proceedings.
May 19, 2026Read more →
tax
ICAI Introduces New Checklist for Section 44AB(e) During UDIN Generation
The ICAI has implemented a new mandatory checklist for Section 44AB(e) during UDIN generation to prevent misuse and ensure compliance with tax audit limits.
May 19, 2026Read more →
tax
Practical Challenges in GSTR-3B Filing: ICAI Clarifies Issues
ICAI has provided clarifications on filing GSTR-3B, addressing challenges related to ITC reversals and RCM disclosure that can affect compliance and credit eligibility.
May 19, 2026Read more →
tax
Credit Notes Under GST: What, Why, How & Rules
A GST credit note is a crucial document issued by a seller to amend the taxable value or tax charged in an original invoice. Understanding its rules and implications is essential for businesses engaged in GST compliance.
May 19, 2026Read more →
CBICtaxcustoms
CBIC Extends Customs Relief Amid Maritime Disruptions
CBIC has extended the validity of customs circulars affecting relief measures until June 30, 2026, due to maritime disruptions.
May 19, 2026Read more →
CESTATtaxcustoms
CESTAT Classifies Bluetooth Earphones as Audio Devices
CESTAT ruled that Bluetooth earphones are classified under heading 8518 as audio devices, not data transmission machines.
May 19, 2026Read more →
Various Courtstax
GST ITC Cannot Be Denied Solely Due to NGTP Supplier Tag
The article discusses judicial perspectives that denying ITC based solely on upstream NGTP allegations imposes an unfair burden on genuine buyers. The legality of such practices is contested in courts.
May 19, 2026Read more →
ITAT Mumbaitax
For Section 56(2)(x) Stamp Duty Value on Allotment Date Must Be Considered
The ITAT Mumbai ruled that stamp duty valuation must be considered on the date of allotment in property transactions, clarifying the application of Section 56(2)(x). This decision aims to fortify transaction transparency.
May 19, 2026Read more →
N/Atax
ICAI Introduces Section 44AB(e) Checklist for UDIN Generation
The Institute of Chartered Accountants of India (ICAI) has added a mandatory checklist for Section 44AB(e) during the Unique Document Identification Number (UDIN) generation process to prevent misuse of tax audit limits.
May 19, 2026Read more →
N/Atax
Wealthy Indians Utilize Legal Tax Strategies for Financial Efficiency
India’s affluent individuals employ strategic tax management under the Income Tax Act, 1961, to minimize their tax liabilities. This approach reflects a growing trend among high-net-worth households to report lesser income relative to their wealth.
May 19, 2026Read more →