Insights & Resources

SC rules that statutory amendments apply prospectively and cannot extinguish vested tax exemptions granted under unamended law.

The Supreme Court reinforces strict bail conditions under PMLA, setting a crucial precedent in Union of India v. Kanhaiya Prasad.

In a landmark ruling, the Madras High Court quashed the provisional attachment of bank accounts in Kesar Jewellers v. ADG, holding that such drastic powers under Section 83 of the CGST Act require demonstrable necessity and tangible material. The judgment reaffirms that procedural fairness and reasoned decision-making cannot be overridden by technical formalities or digital platform constraints.

In a significant ruling, the Kerala High Court held that writ petitions challenging show cause notices under Section 74 of the CGST Act are not maintainable. The Court clarified that piecemeal adjudication of tax disputes is impermissible under the GST framework and upheld the requirement for a composite final order, reinforcing the boundaries of judicial interference at the pre-adjudication stage.

In a significant ruling, the ITAT Mumbai held that a non-beneficial joint holder of a foreign asset is not liable under the Black Money Act for non-disclosure, provided the omission was based on a bona fide belief and the asset was fully disclosed by the beneficial owner. This judgment reinforces judicial discretion in imposing penalties under Section 43 and underscores the importance of intent in tax compliance.

Karnataka HC holds that GST recoveries made under coercion during probe cannot qualify as self-ascertained payments under Section 74(5).

ITAT rules that TCS credit on a minor’s income, clubbed under Section 64(1A), must be granted to the parent, even before 01.01.2025.

Kerala HC holds GST officers cannot seize cash unless it’s stock-in-trade, reaffirming constitutional limits on tax enforcement powers.

Madras HC quashes Section 153C assessments, holding absence of separate satisfaction note renders the proceedings void ab initio.

SC upholds HC’s ruling that s. 153C reassessments must be backed by specific incriminating material for each assessment year.

CBIC orders GST officers to drop appeals over Section 73 interest and penalty if tax is paid, clarifying relief under Section 128A.

The Bombay High Court, in Shoaib Richie Sequeira v. State of Maharashtra, directed the formation of a CBI-led Special Investigation Team to probe a massive cross-border financial fraud. Despite compelling evidence, both the EOW and CBI had failed to act, citing SEBI's jurisdiction. The Court reaffirmed its constitutional authority to ensure fair and impartial investigations when agencies fail to fulfil their statutory responsibilities.