Key Aspects of Recent Cheque Bounce Case Law under NI Act 1881

Recent developments in cheque bounce case law highlight stricter penalties and key judicial interpretations under Section 138 of the Negotiable Instruments Act, 1881, with the Supreme Court emphasizing evidence and focusing on the location of the bank branch where the …

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Madras High Court: Reminder Notice Mandatory Before Passing Ex-Parte GST Order Under Section 169

In a significant judgment safeguarding taxpayer rights, the Madras High Court has ruled that tax authorities must issue at least one reminder notice via Registered Post Acknowledgement Due (RPAD) or other valid modes specified under Section 169 of the GST Act, before …

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CBIC Clarifies Appeal and Review Process for GST Orders by Common Adjudicating Authorities

In a significant development for India’s GST framework, the Central Board of Indirect Taxes and Customs (CBIC) has issued clear guidelines on the appeal, review, and revision process for Orders-in-Original (O-I-Os) passed by Common Adjudicating Authorities (CAAs) in cases investigated by the Directorate General of GST …

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ITAT Grants Major Relief: Demonetization Cash Deposits Treated as Genuine Sales, Not Unexplained Income

ITAT Overturns 58.5L Cash Deposit Addition Made During Demonetization In a notable judgment providing relief to businesses scrutinized during the demonetization period, the Income Tax Appellate Tribunal (ITAT) has deleted an addition of Rs. 58.5 lakh made under Section 69A of the Income Tax Act, 1961. Background …

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Delhi: Advocate, Associate Arrested for Running Fake GST Firms and Issuing Bogus Bills

Advocate, Associate Arrested for Running Fake GST Firms and Issuing Bogus Bills New Delhi, June 2025: In a major crackdown on GST fraud, the Delhi Police have arrested two individuals, including an advocate, for allegedly operating a racket of fake GST-registered …

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Part Payment of Cheque Amount: Can a Complaint Be Maintained Under Section 138 for the Balance? Understanding Section 138 of the Negotiable Instruments Act, 1881

Section 138 of the Negotiable Instruments Act, 1881, is a penal provision that comes into play when a cheque issued by a drawer is dishonoured due to insufficient funds or if it exceeds the arrangement with the bank, and the …

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Crypto Tax Crackdown: Income Tax Department Targets Non-Filers of Virtual Digital Assets (VDAs)

The Indian Income Tax Department (ITD) has intensified its crackdown on undisclosed cryptocurrency income, sending out notices to thousands of investors who failed to report earnings from Virtual Digital Assets (VDAs) such as cryptocurrencies and NFTs. With the implementation of …

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Supreme Court Stays Coercive Recovery in GST Case Until Multiple SCNs Are Resolved

In a major relief to taxpayers, the Hon’ble Supreme Court has upheld a High Court order that stayed coercive recovery proceedings under GST law, pending adjudication of multiple overlapping Show Cause Notices (SCNs). The top court refused to interfere with …

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RBI’s New Gold Loan Draft Guidelines: Key Rules, Exemptions for Small

The Reserve Bank of India (RBI) has released new draft guidelines to regulate gold loans amid a sharp rise in gold prices and growing non-performing assets (NPAs) in this segment. The central bank aims to improve transparency, reduce risks, and protect …

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No Relief for Patanjali: Allahabad High Court Upholds ₹273.5 Crore GST Penalty

In a significant ruling on May 29, 2025, the Allahabad High Court dismissed Patanjali Ayurved’s plea challenging a ₹273.5 crore penalty under the Goods and Services Tax (GST) Act. The judgment delivers a strong message on tax compliance and the …

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Delhi High Court Refers Key Income Tax Reassessment Issue on Foreign Assets to Larger Bench

The Delhi High Court has referred a significant legal question regarding income tax reassessment of foreign assets to a larger bench, potentially impacting numerous cases involving time-barred assessments. A division bench comprising Justice Vibhu Bakhru and Justice Tejas Karia passed …

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RBI Plans Uniform Interest Rate Guidelines for NBFCs to Enhance Transparency and Monetary Policy Transmission

The Reserve Bank of India (RBI) is set to introduce a unified interest rate framework for Non-Banking Financial Companies (NBFCs), aligning them more closely with the norms followed by banks. This move aims to improve the transmission of monetary policy …

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ITR Filing for AY 2025–26: Why Reconciling GST and Income Tax Data is Now More Crucial Than Ever

As the Income Tax Return (ITR) filing season for Assessment Year (AY) 2025–26 kicks off, tax experts are urging taxpayers—especially businesses and professionals—to pay close attention to the reconciliation of their Goods and Services Tax (GST) returns with income tax …

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GST Applicable on Corpus, Sinking, and Capital Fund Collections by RWAs: Tamil Nadu AAR Ruling

The Tamil Nadu Authority for Advance Rulings (AAR), in a significant decision in Case No. TN/16/ARA/2025 dated 07.05.2025, has held that Goods and Services Tax (GST) is payable on collections towards corpus fund, sinking fund, or capital contributions made by Resident Welfare Associations (RWAs) for future services such …

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The Income Tax Department of India has officially released the Excel utilities for ITR-1 and ITR-4 for the Assessment Year (AY) 2025-26: Get Details Here

The Income Tax Department of India has officially released the Excel utilities for ITR-1 and ITR-4 for the Assessment Year (AY) 2025-26 (pertaining to Financial Year 2024-25). This announcement was made on May 30, 2025, through a post on its official social media platform X (formerly Twitter). The …

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Madras High Court Directs GST Department to Consider Representation for Unblocking ITC Blocked Under Rule 86A

In a significant development for GST-registered businesses, the Madras High Court has directed the GST authorities to consider a representation filed by M/s A. J. Power Center seeking the unblocking of its Electronic Credit Ledger (ECL). The ledger had been blocked under Rule 86A …

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Gujarat High Court Quashes Tax Demand Against Grasim Industries, Imposes ₹1 Lakh Cost on Tax Department

In a significant ruling, the Gujarat High Court has quashed a tax demand issued against Grasim Industries Ltd., citing lack of due diligence and improper application of mind by the income tax department. The judgment came in the matter titled Grasim Industries …

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