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ITAT : Delhi ITAT Invalidates Section 69C Addition for Alleged Bogus Expenditure Due to Procedural Lapses and Wrong Provision Application

HC : Telangana High Court Enforces Strict Timelines: 800-Day Delay in ITAT Appeal Rejected for Lack of Sufficient Cause

HC : Bombay High Court Upholds ITAT’s Estimation, Denies Revenue’s Appeal on Section 69C Bogus Purchases Due to Absence of Substantial Question of Law

HC : Telangana High Court Voids Assessment Under Section 153C Based Solely on Retracted Statement in Absence of Incriminating Material

HC : Gujarat High Court Invalidates Reassessment Notice for AY 2015-16 as Time-Barred Despite TOLA Extension

ITAT : Delhi ITAT Quashes Retrospective Cancellation of Charitable Trust’s Registration for Pre-2022 Alleged Violations—Jurisdictional Defect under Section 12AB(4) Confirmed

ITAT : Delhi ITAT Allows Section 54 Exemption for Overseas Property Purchased Prior to AY 2015-16; Nullifies Section 68 Addition Owing to Absence of Books of Account

ITAT : Mumbai ITAT Validates Section 148 Reassessment Notice Based on Documented ā€˜Reason to Believe’; Deletes Derivative Loss Addition, Orders Fresh Probe on Unsecured Loan

ITAT : Delhi ITAT Rules Bogus Purchases to be Disallowed as Business Expenditure, Not as Unexplained Cash Credits; Disallowance Restricted to 8% in Absence of Sales Rejection

ITAT : Delhi ITAT Affirms Canon India's Full Foreign Tax Credit for Japan Withholding Despite Section 10A Exemption and Carried Forward Losses

ITAT : ITAT Mumbai Rejects Addition under Section 69 Based on Unauthenticated WhatsApp Chats and Uncorroborated Market Value Estimation

HC : Bombay High Court Annulls Section 148 Notice and Assessment Order Issued to Non-Existent Company; Legal Representative to Re-present Case

ITAT : Mumbai ITAT Quashes Penalty u/s 270A(9) on Leave Encashment Claim, Citing Bona Fide Conduct and Absence of Deliberate Misreporting

ITAT : Delhi ITAT Affirms Section 54G Deduction on Relocation of Industrial Unit: Allotment Date and Non-Urban Status at Loni, Ghaziabad, Prove Decisive

ITAT : Delhi ITAT Confirms Reassessment and Section 68 Addition for Raheja Developers: Failure to Disclose Bogus Sales and Related Party Transactions Upheld

ITAT : Mumbai ITAT Third Member Upholds CIT(A)’s Deletion of Additions on Bogus Purchases, Labour Expenses, and Unsecured Loans Citing Rule of Consistency; Rejects Remand for De Novo Adjudication

ITAT : Mumbai ITAT Rules Sale of Minority Shareholding Not Taxable as Business Income under Section 28(va); Long Term Capital Gains to Apply

ITAT : Ahmedabad ITAT Holds Deemed Rent Addition Unsustainable for Vacant Flats Intended for Letting Amidst COVID-19 Disruption

HC : Bombay High Court Condones Delay in Filing Return for AY 2018-19 Due to Professional Misadvice, Sets Aside CBDT’s Section 119(2)(b) Order

HC : Bombay High Court Invalidates Time-Barred Section 153C Notice for AY 2010-11: Incriminating Material from Alankit Group Search Found to Exceed Statutory Limit

ITAT : Mumbai ITAT Third Member Clarifies: Penalty under Section 43 of Black Money Act is Discretionary, Not Automatic

ITAT : Mumbai ITAT Rules Receipts for Group Services Not Taxable as FTS or Royalty under India-Belgium DTAA Due to Absence of Managerial or Technical Control

ITAT : Delhi ITAT Rules in Favour of Tata Teleservices: Recurring Customer Acquisition Costs Held as Revenue Expenditure, Disallowance of Rs. 169.08 Crore Set Aside

ITAT : Bangalore ITAT Upholds Builder Payment as Legitimate Cost of Acquisition for NRI Senior Citizen, Disallows Travel-Related Sale Expenses in Property Sale

ITAT : Mumbai ITAT Affirms LTCG Exemption for Temasek Group’s Fullerton Financial Holdings Under India-Singapore DTAA: Substance and PPT Satisfied Despite No Local Employees

ITAT : ITAT Bangalore Quashes Addition under Section 69A for Alleged Unexplained Cash Deposits, Citing Proper Accounting and Lack of Evidence

ITAT : ITAT Mumbai Rules Development Rights Taxable in Hands of Individual Society Members, Not Cooperative Society, Under Registered Redevelopment Agreement

ITAT : ITAT Mumbai Sends Back Case for Re-examination: Assessee’s Failure to Substantiate Rs. 20 Lakh Payment as Joint Owner in Property Sale Deed

HC : Kerala High Court Restricts ITAT’s Power Under Section 263: Observations Must Not Exceed Grounds for Revision in Charitable Trust Donation Dispute

HC : Madras High Court Remands Assessment Against Deceased Assessee, Limits Legal Heir's Rights to Challenge on Jurisdiction and Limitation Grounds

HC : Bombay High Court (Goa Bench) Sets Aside Composite GST Show Cause Notices for Multiple Tax Years in Construction ITC Dispute, Declares Revenue Action Ultra Vires

AAR : Gujarat AAR Affirms 5% GST Rate for ā€˜Fusible Interlining Fabrics of Cotton’ under Chapter 52, Anchored by Fibre Composition and Judicial Precedents

HC : Bombay High Court Sets Aside ITC Demand Over Non-Existent Supplier, Orders Reconsideration Based on Assessee’s Documentary Evidence

HC : Calcutta High Court Invalidates GST Demand on Company Sold as Going Concern under IBC: Buyer Not Liable for Pre-Sale Tax Dues

CESTAT : Dispute Over Bed-Sheet Classification Resolved: CESTAT Kolkata Rules in Favor of Assessee Against Revenue's Differential Duty Claim

HC : HC Dismisses Writ Petition Challenging SVLDRS-3, Upholding Revenue's Claim for Additional Payment of Rs 1.25 Crores

CESTAT : CESTAT Upholds Appeal, Rules Out Inclusion of Notional Costs in Excise Valuation for Auto Parts Supplied to Maruti Suzuki

CESTAT : CESTAT Delhi Upholds Area-Based Exemption for Manufacturing Despite Minor Land Non-Compliance

CESTAT : CENVAT Credit Validated by CESTAT Mumbai: Input Service Distributor's Role Affirmed for Soft Drink Manufacturer

CESTAT : Delhi CESTAT Upholds Department’s Stand: Interest on Customs Duty Refund Payable Only After Complete Documentation—Vedanta’s Appeal Dismissed

CESTAT : CESTAT Delhi Clarifies Excise Duty Applicability on Packing/Repacking of Earthmoving Equipment Parts Prior to 29.04.2010: Excludes Vibratory Compactors from Ambit

CESTAT : CESTAT Kolkata Overturns CENVAT Credit Denial of Rs. 81.66 Lakhs: Lack of Proof on Non-Receipt of Goods and Violation of Natural Justice Cited

HC : MP High Court Declares Reduction of Commercial Tax Exemption as Double Jeopardy for Automaker; Forfeited Amount Not to be Deducted from Exemption Limit

HC : CESTAT Allahabad Exonerates Kraft Paper Manufacturer: Lack of Independent Corroboration Undermines Department’s Clandestine Removal Allegations

CESTAT : Ahmedabad CESTAT Overturns Denial of Input Service Credit to Kohler India: Criticizes Misapplication of Safari Retreats Precedent Across Distinct Tax Regimes

CESTAT : CESTAT Chennai Upholds Timely Refund of Anti-Dumping Duty on Chinese Raw Silk Imports Based on CSTRI Report and Chartered Accountant’s Certification

HC : Bombay High Court Remands CESTAT Order in Light of NCLT-Approved Resolution Plan, Directs Expeditious Reconsideration

HC : Orissa High Court Upholds Mandatory 20% Pre-deposit for Entry Tax Appeals, Grants Limited Relief to Taxpayer

HC : GSTAT Delhi Finds No Profiteering by IREO Entities; Declares Section 171 Inapplicable Due to Absence of Post-GST ITC Benefit

HC : Delhi High Court Restores Assessee’s Right to Appeal after GST Department Overlooks Acknowledged Reply, Orders Reconsideration on Merits

AAR : Andhra Pradesh AAR Rules Coir Felt/Sheets to be Taxed at 12% GST under HSN 9404 9000: Not Just Coir Yarn, But Functional Padding Input

HC : Karnataka High Court Orders Refund of Tax Paid Under Coercion During GST Proceedings, Rejects Deficiency Memos for Lack of Supporting Documents

HC : Madras High Court Nullifies GST Assessments Citing Absence of Jurisdictional Facts: Section 74 Invoked Without Allegation of Fraud or Wilful Misstatement

HC : Madras High Court Sets Aside GST Attachment of Club President's Personal Account, Emphasizes Distinction Between Club and Individual Liability

HC : Bombay High Court Upholds Restriction on Input Tax Credit under GST Reverse Charge for Security Services; Finds No Violation of Articles 14 or 19

HC : Rajasthan High Court Allows Migrating Assessee Opportunity to Regularize Provisional GST Registration Delayed by Erroneous Advice

HC : Delhi High Court Directs Reconsideration of GST Refund Denial for Amazon Data Services India Pvt. Ltd. on Data Hosting Exports; Appellate Authority Ordered to Review in Light of Unchallenged Favourable…

AAR : Advance Ruling Application Dismissed by Tamil Nadu AAR: Ongoing Investigation Precludes Pronouncement Under CGST Act

SC : Supreme Court Upholds Validity of Service of GST Notices via Practitioner’s Registered Email; Consolidated Show Cause Notices for Multiple Financial Years Deemed Lawful

ITAT : Jamnagar Sessions Court Grants Anticipatory Bail to Chartered Accountant in Rs. 560 Crore GST Evasion Case, Citing Fundamental Bail Principles

Delhi SAFEMA Tribunal Upholds FEMA Violations in Under-Invoicing and Hawala Remittance Case Involving B.M. Rakesh and Nemi Chand - Based on the detailed evidence and legal principles, the tribunal upheld the findings of FEMA contraventions by B.M. Rakesh and Nemi Chand. The unauthorized remittances and receipts made through informal channels, without routing through authorized banks or obtaining RBI permission, were held to be illegal. The tribunal found no merit in the arguments for interference with the impugned order.

Bombay High Court Stays Penalty on Directors Due to Inordinate Delay and Disproportionate Sanction in FEMA Adjudication Relating to Foreign Inward Remittance Reporting - The Bombay High Court’s order reaffirms the necessity for timely and proportionate adjudication in regulatory proceedings under FEMA. Authorities must ensure that show cause notices are adjudicated within a reasonable timeframe and that penalties imposed are proportionate to the actual nature and seriousness of the contravention. The current decision directs that, where there is substantial delay and apparent disproportionality in penalty, affected parties are entitled to interim protection from enforcement of such orders.

Appellate Tribunal Partially Reduces Penalty for EOU’s Diversion of Duty-Free Silk Yarn and Fraudulent Exports, Finding Contravention of FEMA Sections 3(b) and 3(d) - The Tribunal’s decision underscores the seriousness with which contraventions involving the diversion of duty-free imports and fraudulent exports are viewed under FEMA. However, it also demonstrates the Tribunal’s willingness to consider genuine mitigating circumstances, such as financial hardship and health issues, in deciding the extent of monetary penalties. The reduction of penalty in this case is specifically correlated to the unique facts and circumstances of the Appellant, and the actionable takeaway is that while violations will attract penalties, representations on genuine hardship may result in relief at the appellate level.

No Confiscation Under FEMA: Tribunal Cites Lack of Actual Transfer of Funds as Key Factor in 20-Year-Old Seizure Case - Based on the findings, the Tribunal has categorically held that the absence of an actual transfer is fatal to the department’s case for confiscation under Section 3(d) of FEMA, 1999. The department’s inability to demonstrate that the transaction was completed or rights were transferred abroad resulted in dismissal of their appeal. The decision emphasizes the need for concrete evidence of actual transfer to invoke confiscatory powers under FEMA. Simultaneously, the Tribunal ensured that the penalty imposed on the appellants is adjusted against the seized amount, with the balance directed to be refunded without further delay.

Madras High Court Upholds Return of Compounding Applications under FEMA for Serious Contraventions Involving Suspected Money Laundering - In light of the express language of the proviso to Rule 8(2) of the Foreign Exchange (Compounding Proceedings) Rules, 2000, the Madras High Court concluded that the Compounding Authority was right in returning the compounding applications. Once the Enforcement Directorate has formed an opinion that the contravention is serious and involves suspected money laundering, the Compounding Authority is bound to remit the case for adjudication and cannot entertain the compounding application. Assessees should be aware that the discretion of the Compounding Authority is curtailed in such cases, and the challenge to the ED’s communication was thus devoid of merit.

Delhi High Court Upholds Confiscation of Indian Currency in Illegal Foreign Exchange Case—Appeal Limited to Questions of Law, Not Facts - In the present matter, the Delhi High Court has reaffirmed the principle that appeals under FEMA/FERA to the High Court are limited strictly to questions of law. The factual findings of the Adjudicating Authority and Appellate Tribunal regarding seizure and confiscation of Indian currency, gold, and foreign exchange stand unchallenged unless shown to be perverse or unsupported. The Court also upheld the legal validity of confiscating Indian currency under Section 63 of FERA, emphasizing that the statutory language is clear and inclusive. Furthermore, the judgment makes clear that a retracted statement is admissible if corroborated and that the burden of establishing lawful possession of seized currency shifts to the accused once foundational facts are established. Actionable takeaway: future appellants must meticulously establish any legal error in the application of law rather than contest factual findings, and must be prepared to discharge the burden of proof regarding lawful possession of seized assets.

Delhi High Court Upholds Right of Legal Representatives to Substitute in Appeal Despite 3621-Day Delay: Application Allowed under FERA/FEMA Scheme Due to Prolonged Non-Listing - On the basis of the foregoing analysis, the Delhi High Court held that the legal representative’s right to seek substitution in pending criminal appeals under FERA and FEMA cannot be extinguished merely due to a protracted delay, particularly where such delay is explained by the court’s own non-listing of the matter. Accordingly, the Court has condoned the delay and permitted substitution, upholding the substantive justice over technical procedural constraints.

Income tax - Sections 90(2), 206AA - Gujarat High Court Rules: DTAA’s Beneficial Rates Prevail Over Section 206AA’s Higher TDS Mandate for Non-Residents - The Gujarat High Court has unequivocally held that for payments made to non-residents, where a Double Taxation Avoidance Agreement prescribes a lower rate of TDS than Section 206AA of the Income Tax Act, the rate under the DTAA will apply by virtue of Section 90(2). The non-obstante clause in Section 206AA does not negate the beneficial override established by Section 90(2). Tax deductors should thus ensure that TDS on payments to non-residents is made at the lower DTAA rate, provided all other DTAA conditions are satisfied.

Income tax - Sections 9(1)(vi), 195(2) - ITAT Mumbai Rules Transponder Service Fees to Intelsat Not Subject to TDS Under Section 195; Rejects Royalty Characterization - Based on judicial precedents and the detailed nature of the agreements, the ITAT concluded that payments for transponder services made to Intelsat by the assessee do not fall within the ambit of ā€œroyaltyā€ or ā€œFee for Technical Servicesā€ as per the India-UK DTAA and the Income Tax Act, 1961. Accordingly, no tax was required to be deducted at source under Section 195, and the CIT(A)’s order granting the NIL withholding certificate stands confirmed. Taxpayers entering into similar service arrangements, where no proprietary rights are transferred and technical knowledge is not ā€œmade available,ā€ can rely on this precedent to justify non-deduction of TDS.

Income tax - Sections 40(a)(ii) - ITAT Delhi Directs AO to Reconsider Allowability of Cess Paid Under PSC, Citing Rule of Consistency in Past Assessments - In light of the ITAT’s decision, the AO is required to conduct a limited factual inquiry to determine whether the assessee’s claim for deduction of Cess paid under the PSC was accepted in earlier assessment years. If past allowance is established, the deduction must be permitted for the current year as well, in the absence of any factual or legal change. This action safeguards against arbitrary or inconsistent treatment of recurring claims and reinforces procedural fairness in tax administration.

Income tax - Sections 263 - ITAT Ahmedabad Quashes PCIT’s Section 263 Revision on Foreign Tax Credit and 80G Deduction: AO’s Proper Inquiry Affirmed in IT-Enabled Services Company’s Case - The ITAT quashed the PCIT’s order under section 263, holding that the AO had conducted a detailed and appropriate inquiry into both the foreign tax credit claim under the India-Philippines DTAA and the deduction under section 80G. The AO’s acceptance of the assessee’s claims was based on comprehensive submissions, supporting documentation, and statutory compliance. The Tribunal clarified that revisionary jurisdiction under section 263 cannot be invoked merely due to a difference of opinion; it requires demonstrable error and prejudice to Revenue, neither of which was established in this case. The AO’s discretion and application of mind were evident from the record, and the assessment order was thus immune from revisionary interference.

Income Tax - Section 56(2)(vii)(b), 69, 144 - ITAT Mumbai Rules in Favour of NRI: Section 56(2)(vii)(b) Proviso Applies Where Agreement Value Exceeds Stamp Duty Value on Agreement Date - The ITAT Mumbai has categorically held that where the declared consideration is higher than the stamp duty value on the date of the agreement and partial payment is made through banking channels on or before that date, the benefit of the proviso to Section 56(2)(vii)(b) must be given. The Tribunal’s decision provides relief to the assessee by deleting the additions made under Section 69 and Section 56(2)(vii)(b), based on the thorough documentation of the source of investments and the timing and mode of property payments.

Income Tax - Sections 143(3), 144C - ITAT Lucknow Rules Cost of Common Areas Must Be Proportionately Included in Flats Sold for Taxable Profit Computation - The ITAT’s decision provides a clear and actionable direction: for purposes of computing taxable profit on sale of flats, the cost of constructing common areas must be proportionately allocated to all the flats, including those sold. The AO and CIT(A)’s approach of excluding such costs from the computation is unsustainable. Taxpayers engaged in real estate development must ensure that their cost allocation methodology mirrors the commercial substance of the transaction, where buyers acquire not just the flat but also a proportionate share in common areas.

Income tax - Sections 80IA - ITAT Kolkata Upholds CPP Power Transfer Pricing Based on SEB Consumer Rate under Section 80-IA - Based on the judicial precedents and the statutory framework, the ITAT held that for the purpose of Section 80-IA(8), the appropriate market value for power transferred from a CPP to an assessee’s own manufacturing unit is the rate at which the SEB supplies power to industrial consumers in the open market. The methodology adopted by the assessee stands validated.

SAFEMA Tribunal Dismisses FEMA Violation Proceedings: Absence of Corroborative Evidence and Loss of Records Fatal to Directorate’s Case Regarding Undisclosed Foreign Bank Account - Based on the absence of corroborative evidence, lack of independent investigation under FEMA, failure to authenticate the key document, and loss of case records, the Tribunal concluded that the directorate’s allegations were not substantiated even on a balance of probabilities. The appeal against the order of the adjudicating authority, which had dropped proceedings against the respondents, was accordingly dismissed. The Tribunal emphasized the necessity for regulatory authorities to conduct independent inquiries and produce legally admissible evidence before alleging contraventions under FEMA.

Tribunal Upholds Penalty for Delayed FEMA Compliance Despite No Foreign Exchange Loss, Orders Reduction in Quantum - The Tribunal concluded that the appellant company’s delay in fulfilling FEMA reporting and filing requirements constituted a contravention warranting penalty under Section 13 of FEMA, 1999. However, considering the bona fide nature of the lapse and absence of loss to the exchequer, the penalty amount should be substantially reduced, and the matter was remanded to the adjudicating authority for re-determination of the quantum.

Income tax - Sections 144C - Bombay High Court Declares Transfer Pricing Additions Void Where Assessment Is Time-Barred Despite DRP Directions - The Bombay High Court decisively ruled that the failure of the Assessing Officer to pass the final assessment order within the statutory timeline prescribed by Section 144C(13) vitiates the entire assessment proceedings post-DRP directions. Transfer pricing additions made in such a manner are rendered void ab initio. The AO’s actions beyond this limitation period, even on remand from appellate authorities, are ultra vires and unsustainable in law. The Revenue is consequently directed to give effect to the DRP’s directions and process the assessee’s refund claim.

Income Tax - Sections 74, 143(1) - ITAT Mumbai Allows Carry Forward of Long-Term Capital Loss on Non-Grandfathered Shares to Mauritius Tax Resident, Distinguishing Streams under DTAA and Income Tax Act - In light of the above findings, the Tribunal allowed the assessee’s appeal, holding that long-term capital gains from grandfathered transactions and long-term capital losses from non-grandfathered transactions are to be treated as distinct sources of income. Accordingly, the taxpayer is entitled to selectively apply the provisions of the Act or the DTAA, depending on which is more beneficial for each source. The AO was directed to allow the carry forward of the long-term capital loss of Rs 17,96,11,994, and to rectify the incorrect adjustment of dividend income.

Income Tax - Section 9(1)(vii), 115A - Delhi ITAT Rules Maintenance and Training Linked to Software Not Taxable as FTS under India-Singapore DTAA - The Delhi ITAT’s decision provides actionable clarity: where maintenance support and training services are intrinsically linked to the supply of software, and the sale of such software is not taxed as royalty, income from these services cannot be classified as FTS under either Section 9(1)(vii) of the Income-tax Act or Article 12 of the India-Singapore DTAA. Crucially, unless the Revenue can demonstrate that technical knowledge is ā€œmade availableā€ to the service recipient, such receipts are not taxable in India. Taxpayers in similar fact situations should ensure proper documentation to establish the intrinsic link between the software and related services and to rebut any FTS characterization by the Revenue.

Income Tax - Sections 50B, 50C - No Mark-Up on Pure Reimbursements for Travel/Admin Expenses, TPO’s Section 50C Invocation on Slump Sale Quashed - The ITAT Chennai’s decision reaffirms the necessity of a factual and functional analysis in transfer pricing and tax adjustments. The Tribunal underscored that cost-to-cost reimbursements, absent any service element, are not subject to mark-up under Indian transfer pricing law. It also clarified the limited jurisdiction of the TPO in slump sale transactions and the correct legislative framework to be applied. Taxpayers should ensure robust documentation for support services and be vigilant about the appropriate selection of comparables and valuation methodologies.

Section 66 of the Companies Act, 2013 - Ahmedabad NCLT Permits Share Capital Reduction to Offset Accumulated Losses—No Prejudice to Stakeholders - Given the petitioner company’s strict compliance with Section 66 of the Companies Act, 2013, the NCLT (Procedure for Reduction of Share Capital) Rules, 2016, and SEBI (LODR) Regulations, 2015, and noting the absence of any substantive objection from statutory authorities or stakeholders, the Tribunal allowed the company to reduce its share capital for the purpose of setting off accumulated losses as outlined in its application.

Supreme Court Upholds High Court Suspension of Look-Out Circular on Foreign Resident Amidst Ongoing Financial Misuse Probe - In light of the Supreme Court’s order, the High Court’s decision to suspend the operation of the LOC, subject to stringent conditions, remains undisturbed. The petitioner continues to benefit from the relief granted, provided all imposed conditions are scrupulously followed. For similar cases, this precedent underscores the necessity of balancing investigative imperatives with the protection of fundamental rights, and the importance of reasoned, conditional relief in matters affecting personal liberty during the pendency of criminal or regulatory investigations.

Supreme Court Upholds Conviction Under IPC Sections 149 and 302: Coordinated Assault by Armed Unlawful Assembly Leads to Affirmation of High Court's Verdict - The Supreme Court upheld the conviction and sentence of the appellants under Sections 302 and 149 of the Indian Penal Code, affirming the High Court's finding that all appellants were members of an unlawful assembly with a common object to commit murder and grievous assault. The Court emphasized that active participation, presence at the scene, and facilitation of the offence are sufficient for conviction under Section 149, even if no specific overt act is attributed to each member.

Bombay High Court Affirms: Granddaughter Cannot Seek Partition of Maternal Grandfather’s Property During Mother’s Lifetime—Plaint Rejected as Non-Maintainable - The Bombay High Court decisively held that a granddaughter, during the lifetime of her mother and in the absence of her mother seeking partition, has no locus standi to institute a suit for partition or claim a share in her maternal grandfather’s undivided family property. The plaint was therefore rejected under Order 7 Rule 11 CPC, being non-maintainable.

SAT Upholds SEBI’s Rejection of FPI Relaxation Pleas: No Relief for Violative Post-Circular Warrants under Regulation 43B - The Securities Appellate Tribunal unequivocally held that the appellants’ applications under Regulation 43B were devoid of merit as the non-compliance arose from their own voluntary actions. The Tribunal found no legal infirmity in SEBI’s rejection order and affirmed that no interference was warranted. The decision reinforces that regulatory relaxations under Regulation 43B are unavailable to those who, with full knowledge of regulatory restrictions and after multiple warnings, choose to act in contravention of the same.

Sections 58, 59, 244, 241 of the Companies Act, 2013 - NCLT Chennai Denies Condonation of Delay and Share Transfer Registration Due to Breach of Articles and Lack of Board Approval - In this case, the NCLT Chennai Bench has affirmed that compliance with a company’s Articles of Association and statutory procedures is mandatory for share transfers in private companies. The absence of Board approval, failure to observe pre-emptive rights, and lack of timely action by the Petitioner resulted in the dismissal of the petition. The Tribunal also clarified that private agreements not incorporated into the Articles cannot be enforced against the company by non-parties. Consequently, the petition for registration of the share transfer, rectification of the register, and condonation of delay was dismissed, along with related claims for relief under Sections 241 and 244.

NCLAT Chennai Upholds Rejection of Appeal for Restoration of Shares: Section 14 Limitation Act Benefit Denied Where Commercial Suit Already Dismissed as Time-Barred - The NCLAT confirmed the NCLT’s decision that the appellant’s claim was time-barred and that benefit under Section 14 of the Limitation Act could not be extended. The appellant’s knowledge of the share transfer as early as 11.05.2016 rendered the subsequent proceedings, including the commercial suit and the appeal under Section 59, outside the limitation period. The dismissal of the appeal, therefore, does not warrant any interference as there was no legal error in the NCLT’s findings.

Madras High Court Upholds Interim Relief for Indian Crypto Investor Despite Singapore Arbitration Clause: WazirX Ordered to Secure Assets Post-Cyber Attack - The Madras High Court’s decision affirms the jurisdiction of Indian courts to grant interim protection under Section 9 of the Arbitration and Conciliation Act, 1996, even where the arbitration agreement designates a foreign seat, as long as the assets in question are located in India and the applicant is an Indian resident. The Court's detailed consideration of the custodial relationship between digital asset holders and platform operators further strengthens the legal protections afforded to investors in virtual digital assets. In actionable terms, parties in similar situations should be prompt in seeking interim relief in Indian courts where their assets are at risk, irrespective of the arbitral seat specified in the underlying contract.

SEBI Bars Unregistered Debenture Trustee from Securities Market for One Year Over Deemed Public Issue Without Proper Registration - SEBI’s order demonstrates that any entity acting as a debenture trustee in respect of a public issue of debt securities must be properly registered under Section 12(1) of the SEBI Act and must comply with the eligibility norms under the DT Regulations. Failure to obtain registration renders all such activities unlawful and attracts strict sanctions, including market access prohibitions. Entities must ensure both their eligibility and registration status before accepting appointments as debenture trustees for public issues.

SEBI Holds All Partners Liable for Unregistered Investment Advisory; Debarment Set Aside Due to Excessive Punishment - SEBI’s decision affirms that partners in a firm are jointly and severally liable for any unregistered investment advisory activities undertaken by the firm during their partnership. Regulatory action will follow irrespective of individual roles or benefit derived. However, SEBI also demonstrated its commitment to fairness and proportionality by waiving further debarment in cases where the period of restraint already imposed exceeds what is reasonable under the final order.

Forensic Audit in Oppression and Mismanagement Proceedings Requires Cogent Evidence and Specific Pleadings—No Order in Absence of Substantial Grounds - The NCLAT concluded that in the absence of concrete evidence or a specific prayer for a forensic audit, such an order should not be passed as an interim measure. The tribunal reinforced the principle that interim relief under Section 242(4) must be exercised judiciously, based on cogent circumstances and not as a matter of routine or mere allegation. The continued presence of a respondent on the Board, with no demonstrable denial of rights or information, further weakened the case for extraordinary intervention.

Delhi High Court Denies Supervisory Relief in Insolvency Proceedings: No Violation of Natural Justice When Opportunity to Reply Was Granted and Not Exercised - The Delhi High Court concluded that there was no breach of natural justice since the petitioner had been granted a clear opportunity to file a reply but failed to utilize it or seek further time. The Court refused to exercise its supervisory jurisdiction under Article 227, emphasizing that such jurisdiction is not a substitute for the appellate mechanism under the IBC. Parties are expected to avail themselves of proper statutory remedies rather than resorting to forum shopping or speculative litigation.

NCLAT Upholds Enforceability of Mediation Settlement Under Companies Act: Objections to Mediator’s Procedure Rejected - In light of the above, the NCLAT concluded that the requirements of Rules 25 and 26 of the Mediation Rules, 2016 were duly met, and the mediation settlement consent terms, as finalized and filed with the NCLT, were enforceable. The appellant’s objections regarding the mediator’s procedure and the enforceability of the settlement were found to be without merit, resulting in the dismissal of the appeal.

Sections 230, 233 of the Companies Act, 2013 - NCLT Mumbai Dismisses Plea for Rectification of Share Swap Ratio in Merger Scheme, Citing Applicant’s Negligence and Stamp Duty Motive - The Tribunal’s decision underscores that any modification or rectification to the consideration clause or share swap ratio in a sanctioned scheme of amalgamation will not be entertained where the applicant fails to exercise adequate due diligence prior to and during the approval process, and where the rectification is sought merely to mitigate financial liabilities such as stamp duty, rather than to facilitate proper implementation of the scheme. Applicants must ensure all scheme details are verified and errors rectified in a timely manner, as post-facto requests motivated by financial repercussions will not be granted.

NCLAT Overturns NCLT's Order: Dispensation from Unsecured Creditors' Meeting Upheld Where 90% Consent Achieved Under Section 230(9) of Companies Act - On a comprehensive reading of the statutory provisions and judicial precedents, the NCLAT concluded that the NCLT had erred both in law and on facts. The Tribunal’s insistence on convening a meeting of the remaining unsecured creditors, despite valid consents exceeding the 90% threshold, was held to be ultra vires Section 230(9) and unsupported by rational justification. Accordingly, the appellate tribunal allowed the appeal, dispensing with the requirement of the creditors' meeting.

NCLAT Rejects Appeal After 147-Day Delay in Refiling: No Sufficient Cause Shown for Condonation Under Rule 26 - The present decision underscores that while the NCLAT may condone delays in refiling appeals when justified, the applicant must establish with cogent reasons that the delay was unavoidable and not a result of negligence or inattention. In the absence of sufficient cause, as in this case, applications for condonation are liable to be rejected.

Securities Appellate Tribunal Upholds SEBI’s Penalty for Circular Funding in Preferential Allotment: ACEL and Vora Family Entities Found Guilty of Violating Section 77(2) Companies Act and SEBI PFUTP Regulations - The Securities Appellate Tribunal’s decision affirms SEBI’s finding that ACEL, in concert with the Vora family entities, engaged in a circular funding scheme to finance its own preferential allotment, thereby violating Section 77(2) of the Companies Act, 1956, and the relevant provisions of the SEBI Act and the PFUTP Regulations. The Tribunal’s order is actionable in nature: listed companies and their management must ensure that funds used for subscription to preferential issues are not directly or indirectly sourced from the issuer itself, whether through related parties or intermediary entities.

Delhi High Court Suspends Look-Out Circular Against Foreign National Amid Ongoing Corporate Fund Misuse Probe - The Delhi High Court’s decision provides actionable relief to the petitioner by suspending the impugned LOC, balancing the investigatory needs of the authorities with the petitioner’s fundamental rights. The ruling makes it clear that the mere pendency of investigation—absent formal accusation and in the absence of further summons post compliance—does not justify indefinite continuation of coercive measures such as an LOC. Agencies must ensure that the use of such measures is not arbitrary and is subject to judicial scrutiny, particularly when the individual concerned is cooperating and not a proclaimed offender.

Gauhati High Court Remands Amalgamation Scheme for Fresh Consideration Due to Dispute Over Service of Notice to Shareholder - In light of the dispute regarding the service of notice and the procedural fairness owed to shareholders, the Gauhati High Court has remitted the matter to the Company Judge for a fresh and expeditious adjudication. The Judge is empowered to call for records and reassess the scheme of amalgamation, including the share exchange ratio if necessary, but without being bound by prior directions. The process reinforces the obligation of both companies and shareholders to ensure up-to-date records and compliance with statutory notice requirements.

NCLAT Upholds ICICI Securities Scheme: Minority Shareholder’s Objection Dismissed for Lack of Standing and No Illegality Found - The NCLAT’s order definitively holds that shareholders below the statutory threshold under Section 230(4) of the Companies Act, 2013 are not entitled to object to a scheme of arrangement. In the present matter, the appellant’s minuscule shareholding precluded him from raising objections, and no illegality was found in the scheme’s sanctioning process or substance. The Tribunal’s order underscores the necessity of adhering to statutory thresholds to maintain the efficacy and integrity of corporate processes, and to avoid disruption by minority shareholders with no substantial interest.

Supreme Court Upholds Eviction and Imposes Costs: Appellant’s Obstruction Post-Specific Performance Decree Compensated; Warrant of Possession with Police Aid Justified - The Supreme Court has decisively affirmed that an unsuccessful plaintiff in a specific performance suit, who is compensated equitably by the Court, cannot resist execution and retain possession of the property. The appellant’s obstruction was held to be unjustified, and the execution of the decree, including police assistance, was deemed proper. The imposition of costs underscores the Court’s intolerance for willful delays and abuse of process. Parties in possession only under an agreement to sell, and not as tenants, must vacate upon denial of specific performance and receipt of compensation.

NCLAT Chennai Sets Aside NCLT Hyderabad Order for Denial of Fair Hearing in Oppression and Mismanagement Case - The NCLAT’s decision mandates that parties in company law disputes must be given a genuine opportunity to present their case, and any lapse in this regard can render the proceedings null and void. All adjudicatory forums must scrupulously adhere to the principles of natural justice, failing which their orders are liable to be set aside, irrespective of the substantive merits of the dispute. Stakeholders are advised to ensure proper representation and insist on procedural compliance at every stage of the proceedings.

Chartered Accountants Granted Anticipatory Bail: No Evidence of Collusion in SRS Group Fund Siphoning, Holds High Court - On a cumulative reading of the complaint, supporting documents, and applicable statutory provisions, the Punjab and Haryana High Court held that there was no prima facie evidence implicating the Chartered Accountants in a criminal conspiracy or receipt of undue favors. The culpability of the petitioners, at most, amounted to professional dereliction, not warranting custodial interrogation. Accordingly, the Court directed the grant of anticipatory bail, subject to the execution of personal and surety bonds within 15 days and compliance with bond conditions.

Delhi High Court Affirms: Guarantors Not Protected from Creditor Recovery Post-Winding-Up of Company - Based on the present decision, it is clear that once a company has been ordered to be wound up and the liquidation process has reached finality, the Company Court’s jurisdiction is strictly limited to the winding up process and does not extend to providing protection to guarantors against recovery actions by creditors. Guarantors must seek legal remedies in alternative fora and cannot use the Company Court as a shield once liquidation has been completed. This approach reaffirms the independent nature of guarantor liability as established in Supreme Court precedent.

Sections 241, 242, of the Companies Act, 2013 - NCLT Orders Buy-Out of Major Shareholder Amidst Irretrievable Breakdown in Family-Run Company; Valuation to be Set by Registered Valuer - The NCLT Mumbai Bench, recognizing the complete breakdown of trust and management deadlock in a family-run quasi-partnership company, ordered a fair and equitable exit mechanism. By directing a buy-out of the petitioner’s shares by Respondent No. 5 at a value determined by an independent registered valuer, the Tribunal ensured that both parties’ interests are safeguarded and the company’s operations can continue without further disruption. Such a tailored remedy under sections 241 and 242 underscores the Tribunal’s proactive approach in resolving deadlocks in closely-held family companies.

NCLAT Sets Aside NCLT’s Interim Orders in Family-Run Jewellery Company: Failure to Apply Legal Tests in Oppression & Mismanagement Dispute under Sections 241-242 of Companies Act - The NCLAT’s decision establishes that when there is a deadlock between two equal shareholder groups in a closely held company, especially a family-run enterprise, and where mutual trust and confidence have irretrievably broken down, the Tribunal must exercise its powers under Sections 241 and 242 of the Companies Act, 2013 to resolve the impasse. Interim relief in oppression and mismanagement petitions must be granted only upon a clear application of the triple test and with reasoned analysis. Unimplemented family settlements do not confer enforceable rights until their preconditions are satisfied. Tribunals are empowered to make equitable orders—including the appointment of independent professionals to manage the company—to bring an end to matters complained of and restore effective governance.

SAT Mumbai Affirms Trustee Liability for VCF Scheme Winding Up; Reduces Penalty in Light of Mitigating Circumstances - The SAT decision unequivocally asserts that trustees of a SEBI-registered Venture Capital Fund are directly accountable for the winding up of schemes upon expiry, a responsibility that cannot be shifted to investment advisors. Trustees must diligently fulfill all regulatory and fiduciary obligations, including prompt liquidation and investor payouts, timely regulatory filings, and full cooperation with SEBI inquiries. The Tribunal’s reduction of the penalty, while sympathetic to the appellants’ personal circumstances, should not be interpreted as a dilution of the underlying legal duties.

Section 303 of the Companies Act, 2013 - Delhi High Court Confirms Guarantors Cannot Use Company Court to Block Recovery After Liquidation Completion - The Delhi High Court decisively clarified that, following the completion of company liquidation and adjudication of claims, personal guarantors cannot invoke the jurisdiction of the Company Court to restrain creditor recovery actions. The liability of the guarantor remains independent and actionable, and any challenge to recovery must be brought before the appropriate legal forum, such as the Debts Recovery Tribunal or Civil Court, and not before the Company Court which ceases to have jurisdiction once the liquidation has attained finality.

NCLAT Upholds Validity of EGM Amidst Oppression Allegations; Interim Relief Rendered Infructuous Due to Passage of Time - In light of the above, the NCLAT affirmed the NCLT’s decision to refuse interim relief, holding that the convening and conduct of the EGM were not contrary to law and that the interim application had become redundant post facto. The tribunal declined to order a status quo, directing that the substantive claims of oppression and mismanagement be adjudicated in the main Company Petition.

Delhi High Court Upholds Criminal Proceedings Against Former Director for Withholding Company Property Under Section 452 of Companies Act, 2013 - The Delhi High Court has reaffirmed that failure to return company property upon cessation from office, specifically as Managing Director, constitutes a prosecutable offence under Section 452 of the Companies Act, 2013. The framing of notice and initiation of criminal proceedings was found proper and justified, even where the individual continued as Director for a further period. Generic objections regarding the vagueness of notice and premature initiation of proceedings were not sustained, given the clear statutory mandate and the specific demands made by the company.

Double Levy of Education Cess on DTA Clearances by EOUs Set Aside: CESTAT Chandigarh Aligns with Supreme Court Ruling - In light of the settled legal position, as affirmed by both the CESTAT and the Supreme Court, the practice of calculating Education Cess and Secondary & Higher Education Cess twice on DTA clearances by EOUs is not sustainable. EOUs are required to compute the aggregate of all applicable customs duties, including cesses, in a single instance before applying them to DTA clearances. Any deviation from this calculation method is impermissible unless the aggregate computation itself is specifically challenged.

CESTAT Allahabad Upholds Classification of 'Paper Biri' as Bidi under Sub-heading 24031929 Despite Revenue's Plea for Cigarette Classification - The CESTAT, Allahabad, conclusively determined that the appellant’s product is rightly classifiable as 'paper biri' under Sub-heading 24031929 of the Central Excise Tariff Act, 1985. The appeal by the Revenue, which sought to classify the product as a cigarette based solely on the chemical report, was rejected due to lack of corroborative market evidence. This decision underscores the primacy of market perception and actual branding over mere chemical analysis in determining excise classification.

CESTAT Hyderabad Rules Revenue Bears Onus in Foreign Currency Seizure: Jurisdictional Lapse and Lack of Evidence Nullify Confiscation - The CESTAT Hyderabad held that the confiscation of the foreign currency was without legal foundation. The Revenue failed to discharge the burden of proof required under Section 123 of the Customs Act, given that foreign currency is not a notified item. Moreover, the Department did not present any evidence to contradict the appellant’s explanation of lawful source. The investigation, having been conducted by an officer lacking proper jurisdiction, was held to be void ab initio. Accordingly, the order of confiscation and penalty could not be sustained.

CESTAT Chennai Remands Coal Classification Dispute Back to Commissioner (Appeals) for Fresh Consideration - In summary, the CESTAT, Chennai has allowed the appeal by remand, setting aside the previous appellate order and directing the Jurisdictional Commissioner (Appeals) to reconsider all issues, including the core dispute on coal classification and the resultant eligibility for concessional duty under Notification No. 46/2011-Cus. The Tribunal’s order ensures that the appellant’s submissions are fully and fairly adjudicated.

CESTAT Mumbai Rules on Scope of ā€˜Importer’ Under Customs Act in Gold Seizure Case; Absolute Confiscation Set Aside - The CESTAT Mumbai decision establishes that liability as an ā€˜importer’ under Section 2(26) of the Customs Act, 1962, is confined strictly to persons having control, ownership, or interest in goods during the importation period up to clearance for home consumption. Post-clearance dealings do not attract the importer’s statutory obligations or liabilities. Further, absolute confiscation of restricted goods like gold is not permissible in the absence of statutory prohibition or clear evidence of culpability, and penalties require demonstrable knowledge or involvement in the infraction.

CESTAT Allahabad Affirms Denial of CENVAT Credit on Customs Education Cess and Destroyed EPCG Capital Goods; Upholds Extended Limitation and Penalty for Suppression - The CESTAT Allahabad has categorically denied CENVAT Credit on Customs Education Cess, Customs Secondary & Higher Education Cess, and SAD on imported capital goods, reaffirming that only specified duties as defined in Rule 3(1) of the CENVAT Credit Rules, 2004 are eligible for credit. The failure to fulfill export obligations under the EPCG scheme, coupled with the absence of installation evidence and suppression of material facts, has resulted in the upholding of extended limitation and penalty. Taxpayers must ensure strict compliance with procedural and substantive requirements for availing CENVAT Credit, including proper disclosure and evidence of eligibility.

CESTAT Chennai Rules Extended Limitation Unsustainable When Retrospective Exemption Notification Applies: ā€˜NIL’ Duty Rate Held Retrospective - On the basis of the above judicial analysis and the nature of Notification No. 12/2013-C.E., CESTAT Chennai determined that the benefit of the exemption at the ā€˜NIL’ rate of duty must be extended retrospectively. As a result, the invocation of the extended period of limitation for the recovery of duty was rendered unsustainable. Assessees faced with similar facts should ensure that any exemption notification that is clarificatory or curative in nature is applied retrospectively in their cases, thereby negating the basis for demand of duty for the intervening period.

Tugboats Denied Machinery Status: CESTAT Ahmedabad Upholds Classification under Chapter 89, Limits Penalties, and Clarifies Drawback Eligibility - The CESTAT Ahmedabad has conclusively held that tugboats do not qualify as ā€œmachinery, equipment or toolsā€ for the purposes of Notification No. 72/2017-Cus. They are classifiable under Chapter Heading 89.04 as vessels, and thus the exemption is not available. The Tribunal has also provided clarity on the sequence of calculations to be made for determining the duty, interest, and penalties, emphasizing the importance of allowing legitimate drawback before imposing financial liabilities. For importers, this decision mandates strict adherence to tariff classifications and denies the possibility of reclassifying vessels as machinery for the purpose of availing exemptions.

CESTAT Delhi Rules Prospective Application of Exemption Notification Amendment; Customs Duty Exemption Restored for Microphones and Receivers Imported Prior to 06.07.2019 - The CESTAT decision is actionable in affirming that amendments to exemption notifications under the Customs Act will operate only prospectively unless the notification clearly specifies otherwise. Any attempt by authorities to recover duties based on retrospective interpretation of such amendments is without legal foundation. Assessees in similar circumstances should ensure the temporal application of exemption notifications is carefully scrutinized and assert their entitlement where retrospective application is not explicitly provided.

CESTAT Upholds Penalty under Section 114(iii) against CHA for Benami Shipping Bills: DRI Officer’s Authority Affirmed Despite Canon India Judgment - On the facts and law, the CESTAT has upheld the imposition of penalty under section 114(iii) of the Customs Act, 1962, on the appellant for their role in facilitating export through benami shipping bills and mis-declaration of goods. The Tribunal has clarified that the authority of the DRI officer to issue SCN for confiscation and penalty is distinct from the authority under section 28 for duty demands, and remains valid in the present context. Moreover, the imposition of penalty under the CBLR does not preclude or bar penalties under section 114 for acts leading to confiscation.

CESTAT Hyderabad Directs Refund Authority to Base Export Duty Refunds on Final Invoice and BRC, Not Provisional Assessment Metrics - The CESTAT Hyderabad has categorically held that, for the purposes of refund under provisional assessment, the final commercial invoice and the BRC should be the exclusive basis for determining the export value and the refund amount. The department cannot insist on recalculating values based on provisional parameters or laboratory reports if these do not align with the final realisation as per contractual terms. The refund sanctioning authority is mandated to adhere to this principle and grant refunds accordingly, including applicable interest as per section 18(4) of the Customs Act, 1962.

CESTAT Chennai Rules Average Transportation Cost Excludable from Excise Assessable Value—Emphasizes Actual Cost and Separate Invoice Disclosure - The CESTAT Chennai set aside the impugned appellate order and reinstated the Order-in-Original, holding that the average cost of transportation, when shown separately in invoices and supported by appropriate cost certifications, is excludable from the assessable value for excise purposes. The Tribunal allowed the appellant’s appeal, thereby upholding the exclusion of average transportation cost from the excisable value.

CESTAT Chandigarh Quashes Denial of Area-Based Exemption: Insufficient Evidence of Bogus Manufacturing and Violation of Natural Justice - The CESTAT, following the logic of its earlier decision in M/s Swati Methol & Allied Chemicals Ltd, held that the evidence provided by the appellants was sufficient to undermine the department’s allegations. In the absence of conclusive proof of bogus transactions, the denial of exemption/refund under Notification No. 56/2002-CE could not be justified. The Tribunal set aside the impugned order, emphasizing the need for objective analysis of all available evidence and adherence to the principles of natural justice.

CESTAT Kolkata Upholds Denial of Concessional Customs Duty on Optical Line Protection Equipment: Optical Switches Classified as ROADM Under Exclusion Clause - The CESTAT Kolkata concluded that Optical Switch Units/OLP equipment imported by the appellant are correctly classified as ROADMs and fall within the exclusion clause for concessional BCD under Notification No. 57/2017-Cus, in light of Circular No. 08/2023-Cus and Notification No. 02/2019-Cus. The appeal was dismissed on merits, confirming the denial of concessional BCD.

CESTAT Hyderabad Sets Aside Duty Demand and Penalties for Unaccounted SEZ Imports, Orders Remand for Proper Reconciliation of Warehouse Movements - The CESTAT Hyderabad’s decision mandates that customs duty demands and penalties for unaccounted warehoused goods by SEZ units must be grounded in a thorough reconciliation of records. Where losses are supported by credible evidence (such as natural disasters) or where goods have been accounted for via proper documentation for SEZ clearances or exports, duty demands and penal actions cannot be sustained. The Tribunal’s remand requires the adjudicating authority to meticulously verify explanations and documentary evidence before making any fresh demand or imposing penalties.

CESTAT Chennai Rules in Favour of EOU: No Customs or Excise Duty on Vinegar Consumed in Excess of SION for Gherkins in Brine; HDPE Barrels Demand Upheld - The Tribunal’s decision sets aside the demand for Customs and Central Excise duty, interest, and penalty relating to the alleged excess consumption of vinegar, holding that the consumption was within SION limits when all exports (both gherkins in vinegar and in brine) were considered. The demand on HDPE barrels was upheld in the absence of any challenge by the appellant. This actionable outcome mandates that EOUs must ensure accurate and comprehensive calculation of input usage for SION compliance, and authorities must provide explicit reasoning when excluding any category of exports from such computations.

CESTAT Allahabad Holds Cost Recovery Charges Ultra Vires, Orders Full Refund to Custodian for Lack of Statutory Authority - Based on the binding judicial precedents and the absence of statutory authorization for CRC under the Customs Act, the CESTAT Allahabad has conclusively held that all cost recovery charges recovered by the department from custodians are illegal. The impugned order denying refund is set aside, and the appellant is entitled to full refund of all CRC paid for the relevant period. The decision is actionable for similarly situated custodians to seek refund of CRC paid in the absence of statutory authority.

CESTAT Hyderabad Confirms Classification of Micronutrient Fertilizers under CETH 3105; Rejects Department’s PGR Classification - The Tribunal conclusively held that micronutrient fertilizers containing nitrogen, phosphorous, or potassium as essential constituents are to be classified under CETH 3105 and not as Plant Growth Regulators under CETH 3808. The decision underscores the importance of relying on statutory chapter notes, scientific evidence, and interpretative circulars for classification disputes.

Bombay High Court Quashes Order for Denial of In-Person Hearing: Violation of Natural Justice Despite Alternate Appellate Remedy - The Bombay High Court has reaffirmed that even in the presence of an alternate statutory appellate remedy, writ jurisdiction may be exercised where a gross violation of natural justice is demonstrated. In this case, the failure to provide a clear and reasonable opportunity for a personal hearing—despite specific requests—constituted such a violation. Accordingly, the impugned order dated 28 February 2025 is quashed and the writ petition is allowed. The authorities are directed to provide a fresh opportunity for a personal hearing to the Petitioner, ensuring strict adherence to procedural fairness.

Bombay High Court Sets Aside Rebate Denial: Orders Fresh Consideration on Export Duty Refunds Paid Under Protest and SVLDRS Impact - The Bombay High Court set aside the impugned order dated 17 January 2022, remanding the petitioner’s Revision Application for de novo adjudication by the 2nd Respondent. The authority is directed to examine all critical aspects—parity, interest on NCCD, payment under protest, statutory provisions, SVLDRS settlement, and unjust enrichment—on merits and in accordance with law. The decision underscores the necessity for detailed reasoning in quasi-judicial orders and affording parties an opportunity to meet every ground of rejection.

CESTAT Delhi: Confiscation and Penalty Set Aside—Failure to Examine Witnesses and Rejecting Bills of Entry Without Proper Grounds Vitiates Smuggling Allegation - Given that the evidentiary burden was not correctly discharged by the department and that procedural lapses in admitting evidence occurred, CESTAT set aside the confiscation of the goods and the penalties imposed. Actionable takeaway: In any proceedings involving alleged smuggling, authorities must follow due process in admitting evidence and cannot reject documentary proof of legal import on mere technicalities.

CESTAT Delhi Quashes Customs Duty Reassessment: Absence of Evidence for Enhanced Valuation under Section 28 - In summary, the CESTAT ruled that in the absence of clear and cogent evidence demonstrating why the values determined by the proper officer were incorrect, and lacking proof of collusion, wilful misstatement, or suppression of facts by the appellant, the demand for redetermination of assessable value and differential duty under Section 28(1) could not be sustained. Actionable takeaway: Revenue authorities must provide specific reasons and evidence when rejecting transaction values and invoking the extended period for demand; mere reference to higher prices in other imports is insufficient.

CESTAT Mumbai Upholds Prohibition Against Customs Broker as Registration Expires; No Relief Granted in Absence of Renewal Post-Enquiry - In summary, where a Customs Broker’s registration has expired and no steps have been taken by the Broker to seek renewal or restoration, any pending prohibition order under Regulation 23 of CBLR, 2013, becomes infructuous. The CESTAT Mumbai rightly refrained from interfering with the Commissioner’s order, as the Appellant failed to pursue available remedies or maintain valid registration. Customs Brokers must proactively engage with the competent authority for restoration of rights post-enquiry or expiry of prohibitory orders, failing which legal remedies may become otiose.

Customs Tribunal Orders Reconsideration of Water Meter Classification: Reliance on NIDB and Tribunal Precedents Under Scrutiny - The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Mumbai, has remanded the case concerning the classification of the Ipearl DN 15 Water meter for fresh consideration. The lower adjudicating authority is directed to comprehensively examine the nature of the imported goods in light of the specific product descriptions and legal reasoning provided in the Tribunal's earlier decisions, ensuring that the correct tariff heading is applied in accordance with statutory and judicial guidance.

Gujarat High Court Quashes Rejection of Rebate: Excise Duty Refund on ATF Supplies to International Flights Recognized as Export - Given the respondent’s concession and the prevailing legal framework, the Gujarat High Court directed that the petitioner’s rebate claim under Rule 18 for supplies of ATF to international flights must be allowed. The orders denying the rebate were quashed. Petitioners in similar circumstances should ensure that their claims are supported by adequate evidence of the quantity of goods remaining on board and falling within the scope of ā€œexportā€ as per Rule 18.

CESTAT Kolkata Affirms CENVAT Credit Eligibility for Inputs Used in Capital Goods Foundations and Support Structures - In light of the consistent judicial view, as reaffirmed by the CESTAT Kolkata, assessees are entitled to claim CENVAT Credit on inputs and capital goods used in constructing foundations and support structures that are essential for the operation of capital goods in the manufacturing process. Orders disallowing such credit, even when accompanied by interest and penalty, are liable to be overturned if challenged in light of these precedents. Assessees should ensure proper documentation to substantiate the use of such goods for fabrication and erection of capital goods to withstand departmental scrutiny.

CESTAT Chandigarh Quashes Confiscation and Penalty under Section 111(d) of Customs Act in Re-Assessment Case Involving Challenge to DGFT Notification - Based on the Tribunal’s decision, in cases where the importer demonstrates bona fide compliance, files the required documents, responds to departmental queries, and pays the assessed duty (even if under protest or subject to legal challenge), the invocation of Section 111(d) for confiscation, along with imposition of redemption fine and penalty, is not legally sustainable. The Tribunal, therefore, set aside the confiscation, redemption fine, and penalty, recognizing the absence of any malafide intent or attempt at evasion.

Delhi High Court Denies Fifth Anticipatory Bail: Successive Applications Without Changed Circumstances and Non-Cooperation Prove Fatal - In view of the applicant’s repeated attempts to secure anticipatory bail without any substantive change in circumstances and his deliberate non-cooperation with the investigation, the Delhi High Court rightly denied relief. The judgment underscores that successive bail applications cannot serve as a tool for circumventing judicial orders and bail conditions, especially where the accused is absconding and facing serious allegations. The actionable takeaway is that applicants must present a genuine, material change in circumstances to justify any subsequent bail application; mere dissatisfaction with prior bail conditions or attempts to evade investigation are insufficient.

Apex Court’s ā€œMost Akinā€ Test Mandates Expert Opinion on Petroleum Hydrocarbon Solvent Classification Disputes; CESTAT Ahmedabad Remands Case for Fresh Consideration - The CESTAT Ahmedabad’s remand order mandates that customs classification of petroleum hydrocarbon solvents must strictly adhere to the Supreme Court’s guidelines in Gastrade International. When complete test data is unavailable, authorities are required to seek expert input and focus on essential parameters to apply the ā€œmost akinā€ test properly. The case will be reconsidered by the Commissioner (Appeals) to ensure compliance with these legal standards, with the potential for a different outcome based on expert analysis.

CESTAT Delhi Clarifies Penalty Computation under Rule 8(3A) of Central Excise Rules—Prohibits Full-Month Penalty for Partial-Month Delay - The CESTAT, New Delhi’s decision reinforces that penalty under Rule 8(3A) of the Central Excise Rules, 2002 must correspond strictly to the actual period of default, calculated at 1% per month or part thereof. Authorities cannot impose penalty for the entire month in cases where the delay is only for a portion of the month. Adjudicating officers must be vigilant in calculating penalties strictly as per the letter of law and binding judicial precedents.

Approval of M/s Hari Shankar Singhania Elastomer & Tyre Research Institute for Scientific Research Under Section 35(1)(iia) of the Income Tax Act, 1961

Agreement and Protocol between the Republic of India and the Government of the Kingdom of Belgium for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.

Tax Exemption on Specified Income of "Haryana Building and Other Construction Workers Welfare Board" U/s 10(46) of Income-tax Act, 1961

Tax Exemption on Specified Income of "Ayodhya Vikas Pradhikaran (Ayodhya Development Authority)" U/s 10(46A) of Income-tax Act, 1961

Government Notify the Permissible Variation for determination of Arm’s Length Price for AY 2025–26 under section 92C of Income-tax Act, 1961

Central Goods and Services Tax (Fourth Amendment) Rules, 2025.
Assigning proper officer under section 74A, section 75(2) and section 122 of the Central Goods and Services Tax Act, 2017 and the rules made thereunder
Seeks to amend notification No. 26/2018-Union Territory Tax(Rate) dated 31.12.2018 - Exemption from Union Territory tax on supply of gold, silver or platinum by nominated agencies to registered persons
Seeks to amend notification No. 27/2018-Integrated Tax(Rate) dated 31.12.2018 - Exemption to integrated tax on supply of gold, silver or platinum by nominated agencies to registered persons. - Export Against Supply by Nominated Agency
Seeks to amend notification No. 26/2018-Central Tax (Rate) dated 31.12.2018 - Exemption to central tax on supply of gold, silver or platinum by nominated agencies to registered persons - Export Against Supply by Nominated Agency
Companies (Meetings of Board and its Powers) Amendment Rules, 2025 - Amends Rule 11 - Loan and investment by a company under section 186 of the Act
Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2025
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2025
Relaxation of additional fees in filing of CRA-4 (Cost Audit Report in XBRL format)
Implementation of eligibility criteria for derivatives on existing Non-Benchmark Indices
Launch of Online Module for Permissions under Section 65 (MOOWR and MOOSWR)
Seeks to amend Notification Nos. 27/2011-Customs, dated the 1st March, 2011 and 45/2025-Customs, dated the 24th October, 2025
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
Imposition of Anti-Dumping Duty on Imports of Hot Rolled Flat Products of Alloy or Non-Alloy Steel Originating in or Exported from Vietnam
Clarification on Redemption of Advance Authorisations impacted by Erstwhile Rule 96(10) of the CGST Rules and imports effected Between October 13, 2017 to January 09, 2019
Syncing of ITC (HS), 2022 - Schedule-1 (Import Policy) with Finance Act 2025 (No. 07 of 2025) dated 29.03.2025
Levy of anti-dumping duty on imports of flax fabrics (having flax content of more than 50%) imported from China and Hong Kong for a period of 5 years
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Deeds & Documentation

Deeds & documentation (Partnership, HUF, Gift, POA and 45 other categories covering around 1,500 deeds annd agreements. Editable.

GST

Tarrif/Non Tariff Notification, Circulars, SC/HC/CESTAT Cases, Acts, Rules, Regulations

Excise

Tarrif/Non Tariff Notification, Circulars, SC/HC/CESTAT Cases, Acts, Rules, Regulations

Customs

Tarrif/Non Tariff Notification, Circulars, SC/HC/CESTAT Cases, Acts, Rules, Regulations

VAT

STC (All Volumes), VST, VST-OL, TaxCorp (VAT) Decisions, All India VAT Circulars, Notifications

Accounting/Auditing

Accounting Policy, AS, AAS, IndAS, Opinions, Guidance Notes, Company Audit

Annual Reports

Annual Reports (IndAS and IFRS based), Segment-wise, Company-wise

Indian Rules

Direct, Indirect, Corporate, Securities, Economic, Labour, Industrial, Insurance, Forex Laws

TaxCorp Forms

Income Tax, Service Tax, Excise, Customs, FTP, FEMA & SEZ. Editable.

TaxCorp Search

Premium Search Enginge with intelligence built in. Guaranteed to give results within top 5 search results.

Top Tax Stories

Realtime coverage of Direct, Indirect and International Taxation. All important judgments not to be missed.

TaxCorp International Taxation

Comprehensive and exhaustive resource on International Taxation, Transfer Pricing, Double Taxation Tax Treaties, FDI, FEMA, BIPA, NRI. All Indian Transfer Pricing cases as well as News

TaxCorp intelligent Search Tool developed exclusively for International Taxation and Transfer Pricing Module. Search DTAA Article-wise case laws, Country-wise, topical search. Analysis of important international judgments on Transfer Pricing. Expert columns and Articles related to TP

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