AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Calcutta High Court has quashed a show cause notice (SCN) issued under Section 74 for multiple financial years, confirming that such a practice is not permitted under the existing laws.
The Madras High Court has ruled that GST proceedings can be initiated against legal heirs of a deceased proprietor under Sections 73, 74, or 74A, but recovery is limited to the status of the inherited estate.
The ITAT has granted tax relief by deleting an under-reporting penalty linked to an education cess claim deemed bonafide. This ruling clarifies the implications of retrospective amendments on taxpayer liabilities.
The ITAT has held that loose sheets found during a search, lacking corroborative evidence, cannot justify an addition under Section 69 of the Income Tax Act. This ruling sets a precedent for the treatment of unverified documents in tax assessments.
The ITAT has directed a fresh hearing regarding ₹53 lakh cash deposits of a taxpayer, acknowledging claims of mental and neurological illness. This order aims to ensure fairness in tax assessments.
The ITAT has determined that interest paid by the Bank of Nova Scotia to the Reserve Bank of India for failing to meet the Statutory Liquidity Ratio (SLR) is compensatory and thus deductible. This marks a significant ruling regarding the treatment of such interest payments.
The Telangana High Court has established a stringent six-point framework for the provisional release of seized imported second-hand goods, including a mandatory bank guarantee.
The Delhi High Court ruled that reimbursements paid to EY US for secondee services are taxable as Foreign Technical Services (FTS) under Indian tax law. The ruling rests on the premise that the secondees provided technical knowledge to EY India entities.
The Supreme Court upheld the dismissal of a writ petition, citing significant delay in filing without adequate explanation, thereby reinforcing the importance of timely appeals.
The Gauhati High Court annulled a GST registration cancellation order, noting the absence of a reasoned decision. The court emphasized the need for accountability in authority actions.
India has broadened the scope for foreign nationals to invest in its stock market, enhancing portfolio investment access while maintaining regulatory safeguards.
The newly introduced Schedule VDA in the Income Tax Return (ITR) framework focuses on transaction-wise reporting of income derived from cryptocurrencies, NFTs, and other Virtual Digital Assets (VDAs), which are taxable at 30% under Section 115BBH.
The ITAT ruled that the Income Tax Department must maintain consistent positions in similar cases concerning long-term capital loss claims.