In a significant ruling with far-reaching implications for corporate restructuring and tax planning, the Supreme Court of India has held that an amalgamated company cannot claim the benefit of losses incurred by the amalgamating entity prior to the merger unless …
In a significant ruling that brings clarity to the tax treatment of Common Area Maintenance (CAM) charges, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that such payments are not in the nature of rent and therefore attract Tax …
In a significant reaffirmation of the legal position on compounding of cheque dishonour offences, the Supreme Court of India has held that a conviction under Section 138 of the Negotiable Instruments Act, 1881 can be quashed if the parties arrive …
In a significant ruling that clarifies the scope of interest deduction under the Income Tax Act, the Kerala High Court has held that a partner cannot claim deduction on interest paid on borrowed funds if such funds are invested as …
In a significant ruling that strengthens the interpretation of disallowance provisions under the Income Tax Act, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that Section 43B cannot be invoked where Goods and Services Tax (GST) …
In a significant ruling highlighting the importance of financial transparency in matrimonial disputes, the Allahabad High Court has set aside a maintenance order granted to a wife, after finding glaring inconsistencies between her declared income and income tax records. The …
The Central Board of Direct Taxes (CBDT), vide it’s Letter bearing F.No. 225/26/2026-ITA.II, dated May 29, 2026, issued a firm directive aimed at ensuring uniformity in the treatment of unexplained cash credits, investments, assets, borrowings and expenditures across all direct tax field …
In a significant ruling reinforcing the principles of vicarious liability in corporate offences, the Telangana High Court has quashed criminal proceedings initiated against the Chairman and Managing Director of Sankhya Infotech Limited in an alleged Employees’ Provident Fund (EPF) default …
In a significant ruling with far-reaching implications for inter-State trade under GST, the Allahabad High Court has drawn a clear distinction between verification powers and penal jurisdiction of GST authorities in transit States. The judgment in M/s Maruti Enterprises & Ors. vs State of U.P. (dated …
In a significant and pragmatic ruling, the Income Tax Appellate Tribunal (ITAT), Kolkata Bench, has reaffirmed a fundamental principle of tax jurisprudence—substance must prevail over form. The Tribunal held that mere clerical or inadvertent errors in tax audit reports cannot be …
In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Pune Bench has held that a delay in filing the audit report in Form 10DA cannot be a valid ground to deny deduction under Section 80JJAA of the Income Tax Act, 1961. The decision reinforces …
In a significant ruling reinforcing the independence of the legal profession, the Allahabad High Court has quashed criminal proceedings initiated against an advocate for actions performed in his professional capacity. The judgment sends a strong message against the growing tendency …
In a noteworthy ruling that brings clarity and relief to taxpayers, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that exemption under Section 54 of the Income Tax Act, 1961 cannot be denied merely due to …
The Supreme Court of India has delivered a significant ruling providing relief to a GST assessee by allowing it to raise the issue of allegedly lost seized documents before the appellate authority, while also granting a reduced pre-deposit requirement of …
In a significant ruling reinforcing the principle that suspicion cannot substitute evidence, the Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, upheld the decision of the Commissioner of Income Tax (Appeals) [CIT(A)] in favour of a retail jewellery firm. The tribunal …
In a significant development for the aviation and tax sectors, the Delhi High Court has granted interim protection to InterGlobe Aviation, the parent company of IndiGo, against coercive action in a high-stakes Goods and Services Tax (GST) dispute involving a …
The Mumbai Income Tax Appellate Tribunal (ITAT) has delivered a significant ruling in the case of actor Sonu Sood, clarifying the scope and applicability of reassessment proceedings under the amended provisions of the Income Tax Act. The decision provides important …
In a significant ruling, the Patna High Court has held that voluntary payment of GST liability after detection during audit does not automatically protect a taxpayer from proceedings under Section 74 of the CGST Act, 2017. The judgment reinforces that …
In a significant ruling that highlights the importance of bona fide belief on Form 16 and procedural fairness, the Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has deleted a hefty penalty of ₹51.20 lakh imposed on a taxpayer. …
The scope and limits of reassessment proceedings under Sections 147 and 148 of the Income Tax Act, 1961 have long been a subject of litigation. In a significant ruling, the Supreme Court of India in the case of Commissioner of …