Insights & Resources

In a key ruling, the Kerala High Court upheld the revisional powers of the Principal Commissioner of Income Tax under Section 263 of the Income-tax Act, 1961. The Court affirmed that failure by the Assessing Officer to conduct proper inquiries or provide reasoning for allowing deductions renders the assessment both erroneous and prejudicial to Revenue, thereby justifying intervention.

The SC clarifies that a wife’s right to maintenance under s. 125 of the CrPC is not negated by a restitution decree in the husband's favour.

The AP High Court rules that setting up solar power plants is a composite supply under GST, rejecting the works contract classification.

The Ahmedabad ITAT, in Mukesh Rasiklal Shah v. ACIT, ruled that income acquired through fraudulent means remains taxable in the year of accrual, even if recovered later by the government. The Tribunal rejected the assessee’s claim for deduction under Section 57, reinforcing the principle that illegality does not shield income from taxation. The ruling exposes gaps in prosecution efforts and raises policy questions around double taxation and restitution.

The NCLAT rules that EPFO’s late claims in insolvency cases are barred under the IBC moratorium, reinforcing finality in CIRP resolutions.

A pivotal Delhi HC ruling underscores that prolonged adjudication delays in customs cases breach the principles of natural justice.

The Gauhati HC examines the balance between GST detention powers and personal liberty, emphasising procedural safeguards and proportionality

The SC clarifies that minor contradictions in witness testimony do not undermine the prosecution's case if overall evidence is reliable.

CBIC updates guidelines for arrest and bail under GST, aligning with judicial directions to ensure procedural transparency and safeguards.

The Supreme Court rules that share capital reduction qualifies as a ‘transfer’ under tax law, impacting capital gains taxation.

The SC reaffirms that economic offences cannot be quashed merely due to settlements, prioritising public accountability over compromise.

The Supreme Court clarifies the validity of sanction orders under the Prevention of Corruption Act and their impact on justice and fairness.