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CBDT Notifies Income-Tax (Second Amendment) Rules, 2025: Key Changes for VC Funds & IFSC Finance Companies
CBDT’s latest amendment prescribes conditions for VC Funds & IFSC Finance Companies under Sections 10(23FB) & 94B of the Income-Tax Act.
Feb 13 min read
Delhi High Court Reinforces Statutory Limitation in Tax Reassessment Proceedings
Delhi HC reinforces adherence to Delhi HC rules reassessment notices issued beyond statutory limitation invalid.
Jan 313 min read
Issuance of SCN by State GST Officer – Whether Proper or Not? Kerala High Court Clarifies
Kerala High Court upholds State GST officers’ authority to issue SCNs under CGST Act, clarifying cross-empowerment provisions.
Jan 313 min read
Delhi High Court Upholds Procedural Safeguards in GST Seizure: Extension Beyond Six Months Requires Prior Notice and Justification
The Delhi High Court enforced strict procedural safeguards under the CGST Act, holding that seized goods cannot be retained beyond six months without prior notice and justification. The judgment in Kashish Optics Ltd. reaffirms the time-bound and rights-protective nature of s. 67(7), aligning it with due process principles and jurisprudence under the Customs Act.
Jan 305 min read
Delhi High Court on the Proportionality of Penalties Under Section 129 of the CGST Act
Delhi HC affirms proportionality in GST penalties, ruling that minor e-way bill lapses shouldn’t attract severe fines under Section 129.
Jan 285 min read
ITAT Quashes Reassessment Notice for Lack of Fresh Tangible Material and Independent Inquiry
In Minal Shroff v. ITO, the ITAT quashed a reassessment under Section 147 for relying solely on third-party alerts, without any fresh inquiry or tangible material. This case reaffirms critical safeguards for taxpayers and clarifies that the ‘reason to believe’ must be the AO’s own, not borrowed.
Jan 276 min read
MFN Clause Not Self-Executing: Supreme Court Reiterates the Requirement of Notification for the MFN Clause in DTAAs to Apply
The Supreme Court rules that the MFN clause in DTAAs is not automatic and requires government notification under the Income-tax Act, 1961.
Jan 255 min read
Revised Arrest & Bail Guidelines Under the CGST Act: Key Amendments & Implications
CBIC revises GST arrest guidelines, mandating written grounds of arrest to ensure procedural compliance and safeguard legal rights.
Jan 252 min read
Orissa HC Upholds Assessee’s Right to Compounding for TDS Default under Section 276B of the Income-tax Act,1961
Orissa HC rules that assessees facing TDS prosecution under s. 276B can seek compounding under s. 320 CrPC per CBDT Circular guidelines.
Jan 253 min read
Kerala High Court Upholds PCIT’s Power under Section 263 to Revise Flawed Assessment without Proper Inquiry
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.
Jan 244 min read
AP High Court Clarifies GST on Solar Power Plants: Composite Supply, Not Works Contract
The AP High Court rules that setting up solar power plants is a composite supply under GST, rejecting the works contract classification.
Jan 234 min read
ITAT Rules on Taxability of Illegally Obtained Income: Accrual Triggers Liability Despite Recovery
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.
Jan 235 min read
Gauhati High Court on GST Detention: Balancing Procedural Safeguards and Personal Liberty
The Gauhati HC examines the balance between GST detention powers and personal liberty, emphasising procedural safeguards and proportionality
Jan 183 min read
GST Investigation Wing issues Guidelines for Arrest and Bail under GST Provisions
CBIC updates guidelines for arrest and bail under GST, aligning with judicial directions to ensure procedural transparency and safeguards.
Jan 183 min read
Supreme Court Clarifies Share Capital Reduction as a ‘Transfer’ Under the Income Tax Act
The Supreme Court rules that share capital reduction qualifies as a ‘transfer’ under tax law, impacting capital gains taxation.
Jan 185 min read
CBIC Issues Clarification on Place of Supply for Online Services to Unregistered Recipients
CBIC clarifies GST compliance for online services, requiring suppliers to record recipients' states to ensure accurate tax allocation.
Jan 64 min read
Delhi High Court Invalidates Arrest Over Procedural Violations Under the CGST Act
Delhi High Court rules arrest under CGST Act illegal due to failure to provide written grounds of arrest, violating statutory safeguards.
Jan 34 min read
Bombay High Court Quashes Reassessment Proceedings Due to Lack of New Evidence
The Bombay High Court quashes reassessment proceedings, highlighting that reopening assessments without fresh evidence is unlawful.
Jan 25 min read
Judicial Interpretation of Long-Term Capital Gain Exemption and MAT Computation under IT Act
This case clarifies the interplay between LTCG exemptions under Section 10(38) and MAT computations under Section 115JB of the IT Act.
Jan 1, 20253 min read
Delhi ITAT Clarifies on Taxability of Digital Services Under the India-Singapore DTAA
Delhi ITAT rules that digital service receipts under the India-Singapore DTAA are not ‘royalty’ or ‘FTS’, offering clarity on taxability.
Dec 31, 20245 min read