Section 41(1) of the Income Tax Act is triggered only when an assessee derives a real benefit due to remission or cessation of a trading liability. In recent years, the transfer of stressed loans by banks to Asset Reconstruction Companies …
The GST regime is largely driven by technology, with notices, replies, and adjudication proceedings being conducted through the online GST portal. While this digital system aims to ensure transparency and efficiency, it also creates challenges when technical glitches prevent proper …
Charitable trusts and societies often rely on the exemption provisions under Section 11 of the Income-tax Act to accumulate income for future charitable purposes. However, tax authorities sometimes deny such benefits on the basis of minor procedural defects, even when the charitable …
The Union Budget 2026 has introduced a major reform in the way Minimum Alternate Tax (MAT) is treated under India’s corporate taxation framework. In a move aimed at simplifying compliance and ensuring greater tax certainty, the government has proposed to convert MAT into a final, …
In a major boost to trade facilitation and ease of doing business, the Central Board of Indirect Taxes and Customs (CBIC) has proposed extending the deferred payment of import duty facility to compliant importers starting 1 March 2026. The extension has …
The Union Budget 2026 introduced a notable change for participants in India’s stock derivatives market by increasing the Securities Transaction Tax (STT) on Futures and Options (F&O) trades. At first glance, the revision may look like a marginal tweak in …
The Finance Bill, 2026 marks a decisive shift in India’s income-tax compliance framework. One of the most significant reforms proposed is the replacement of discretionary penalties with fixed, mandatory fees for certain procedural defaults under the Income-tax Act, 2025, effective from 1 April 2026 (Assessment Year …
In a significant relief for the real estate sector, the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi, has ruled that Transfer of Development Rights (TDR) does not constitute a taxable service under the Finance Act, 1994. The tribunal has set aside a …
The Jharkhand High Court has reiterated the settled principle that a writ petition under Article 226 of the Constitution cannot be entertained against a GST order-in-original when an effective statutory appellate remedy is available and no violation of the principles …
The Union Budget 2026, presented by Finance Minister Nirmala Sitharaman, brings significant structural and compliance-oriented changes to the income tax framework while keeping tax rates unchanged. Despite widespread expectations of relief through revised income tax slabs, the government chose to …
In a significant ruling on the law relating to consent and false promise of marriage, the Karnataka High Court reaffirmed that a failed consensual relationship cannot be mechanically converted into a criminal offence of rape. Upholding the acquittal of the …
The Union Budget 2026–27, presented on 1 February 2026 by the Finance Minister, places a clear emphasis on tax certainty, simplification of laws, and ease of compliance, rather than major rate changes. Both direct and indirect tax proposals aim to reduce …
In matrimonial disputes, particularly in maintenance proceedings, one recurring issue is suppression or under-disclosure of income by the husband. To address this systemic problem, the Supreme Court of India, in the landmark judgment of Rajnesh v. Neha (2020) 14 SCC 150, introduced a mandatory …
The Bombay High Court, in [2026] 182 taxmann.com 664, has reiterated an important procedural safeguard under the GST law by holding that clubbing of different financial years or tax periods while issuing a show cause notice under Section 74 of the CGST Act, 2017 …
The protection afforded to workmen under the Industrial Disputes Act, 1947 cannot be diluted by adopting artificial modes of employment. In a significant ruling, the Orissa High Court held that where a workman had completed 240 days of continuous service, …
Under GST law, Input Tax Credit (ITC) is a statutory benefit, not an absolute right. Fake ITC arises when credit is: Availed without actual supply of goods or services, or Availed based on invoices issued by fake / non-existent suppliers, or Availed with intent to evade …
The Madras High Court set aside a GST assessment order on the ground that the show cause notice (SCN) was not validly served as per Section 169 of the CGST Act. The Court held that mere uploading of SCN and reminders …
The Karnataka High Court examined whether an assessment order passed without considering the assessee’s reply—due to alleged non-receipt of the show-cause notice (SCN)—could be sustained. The assessee pleaded bona fide and unavoidable circumstances arising from a change in registered email …
The Visakhapatnam Bench of the Income Tax Appellate Tribunal (ITAT) held that receipts derived from leasing educational infrastructure along with multifaceted allied services are taxable as business income and not as income from house property. The Tribunal observed that where an assessee is …
The Supreme Court of India is set to hear a writ petition seeking the exclusion of the “creamy layer” from the benefits of reservation granted to Scheduled Castes (SCs) and Scheduled Tribes (STs). The plea raises significant constitutional questions on the scope …