Madras High Court Recognises Cryptocurrency as “Property” Under Indian Law: A Landmark Judgment

In a landmark ruling that could reshape India’s digital-asset landscape, the Madras High Court has held that cryptocurrency qualifies as a form of “intangible property” under Indian law. The decision, delivered by Justice N. Anand Venkatesh, aligns India with global judicial thinking in jurisdictions such …

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Service Apartments Classified as Commercial Buildings for GST: West Bengal AAR Clarifies Tax Treatment

The classification of service apartments under the Goods and Services Tax (GST) regime has been a matter of frequent dispute, particularly regarding whether such constructions should be treated as residential or commercial buildings. The distinction holds significant tax implications, as GST …

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ITAT Rules Belated Filing Does Not Bar Carry Forward of Unabsorbed Depreciation — ACIT vs. Elecon Engineering (23 October 2025)

On October 23, 2025, the Income Tax Appellate Tribunal (ITAT) issued a significant ruling concerning the carry-forward of unabsorbed depreciation. The Tribunal held that unabsorbed depreciation under Section 32(2) of the Income Tax Act can be carried forward and set off against income in subsequent …

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Limited scope for reopening assessment: Non-production of Form 3CL not valid ground under Section 147

In a significant ruling, the Kerala High Court in Apollo Tyres Ltd. vs. Assistant Commissioner of Income-Tax (ITA No. 42 of 2024; reported at 2025 LiveLaw (Ker) 660) clarified that non-production of Form 3CL—a report issued by the Department of Scientific and Industrial Research (DSIR)—cannot …

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Temporary Lull Doesn’t Mean Business Closure: Supreme Court Upholds Continuity for Non-Resident Companies

In a significant ruling dated October 18, 2025, the Supreme Court of India clarified an important aspect of business taxation for non-resident entities. The Court held that a temporary lull or break in business activity does not amount to cessation of business in India. As …

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No Prosecution Without Wilful Evasion: Madras High Court Protects Taxpayers from Criminal Action Over Delayed Payments

In a landmark decision dated 18 October 2025, the Madras High Court reaffirmed that prosecution under the Income-tax Act cannot be initiated for mere delay in payment of tax unless the prosecution is supported by cogent evidence of wilful evasion or suppression of income. The ruling, …

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ITAT Mumbai Deletes Addition on Demonetization Deposits: Source of Cash Held Explained in Chandraprabha Co-operative Credit Society Case

Chandraprabha Co-operative Credit Society Ltd. vs. Income Tax Officer Court/Bench: Income Tax Appellate Tribunal (ITAT), Mumbai Bench Introduction: The case revolved around cash deposits made by the assessee, Chandraprabha Co-operative Credit Society Ltd., during the demonetization period (November–December 2016). The Assessing …

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Bombay High Court: GST Returns Cannot Be Disclosed Under RTI — Section 158 of GST Act Overrides Right to Information Act

In a significant judgment dated October 14, 2025, the Bombay High Court (Aurangabad Bench) ruled that information relating to a company’s Goods and Services Tax (GST) returns cannot be disclosed to third parties under the Right to Information (RTI) Act, 2005. The Court held that such …

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ITAT Chennai’s Landmark Ruling: Section 54F Exemption Applies to Full Residential Property, Including Land Acquired Before Selling the Original Property

In a significant development, the Income Tax Appellate Tribunal (ITAT) in Chennai has clarified that under Section 54F of the Income Tax Act, the exemption from long-term capital gains tax extends to the entire investment in a new residential property, …

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Gauhati High Court: Demand under Section 73 soley based on Return Discrepancies Invalid Without Prior ASMT-10 Notice

In a landmark judgment dated 19 September 2025, the Gauhati High Court quashed a demand issued under Section 73 of the CGST Act, 2017 against M/s PepsiCo India Holdings Pvt. Ltd., holding that such demand was invalid without prior issuance of Form GST ASMT-10 under Section 61 read with …

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