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15-03-2025 (2025) TaxCorp(LJ) 34933 (HC)

HC : Bombay HC Rules Against ITAT's Jurisdiction in Procter & Gamble Tax Case

15-03-2025 (2025) TaxCorp(LJ) 34934 (HC)

HC : Karnataka High Court Reaffirms Penalty and Prosecution Framework for Delayed Tax Returns Despite Assessee’s Contentions

15-03-2025 (2025) TaxCorp(LJ) 34935 (HC)

HC : Madras High Court Ruling: Lack of Tangible Evidence Nullifies CIT's Revisional Jurisdiction in Section 54F Claim

15-03-2025 (2025) TaxCorp(LJ) 34936 (HC)

HC : Karnataka High Court Overturns Single Judge's Order on Assessee’s Interest for Delayed Refund Claim

15-03-2025 (2025) TaxCorp(LJ) 34937 (HC)

HC : Bombay High Court Nullifies Reassessment Proceedings Due to Change of Opinion; Emphasizes Need for Tangible Evidence

11-03-2025 (2025) TaxCorp(LJ) 34918 (ITAT)

ITAT : Chennai ITAT Overturns Tax Disallowances Against Vodafone for TDS Non-Deduction on Distributor Discounts

11-03-2025 (2025) TaxCorp(LJ) 34922 (ITAT)

ITAT : Pune ITAT Overturns Reassessment Based on Alleged Bogus Loans, Citing Lack of Non-Disclosure by Assessee

11-03-2025 (2025) TaxCorp(LJ) 34923 (ITAT)

ITAT : Chennai ITAT Rules on R&D Expenditure: Grants Normal Deduction but Denies Weighted Deduction Due to Non-Compliance with DSIR Approval

10-03-2025 (2025) TaxCorp(LJ) 34919 (ITAT)

ITAT : Chennai ITAT Overturns Penalty for Non-Filing of Form 68, Upholding Assessee's Right to Immunity Under Section 270AA

10-03-2025 (2025) TaxCorp(LJ) 34920 (ITAT)

ITAT : Delhi ITAT Rules on Suo Moto Disallowance for Penalty under Section 270A; Case Remitted for Fresh Adjudication

10-03-2025 (2025) TaxCorp(LJ) 34921 (ITAT)

ITAT : Mumbai ITAT Rules Long-Term Capital Gain on Johnson & Johnson’s Trademark Sales, Declares Section 50 Inapplicable for Pre-April 1998 Acquisitions

10-03-2025 (2025) TaxCorp(LJ) 34959 (SC)

SC : Supreme Court Upholds Gujarat HC Ruling on AO’s Satisfaction Note, Clarifying Legal Communication Requirements under Section 148

10-03-2025 (2025) TaxCorp(LJ) 34960 (SC)

SC : Supreme Court Upholds Bombay HC Ruling on Reassessments Linked to Shah Commission Report

06-03-2025 (2025) TaxCorp(LJ) 34889 (ITAT)

ITAT : Late Submission of Form 10-IC for AY 2021-22 Recognized for AY 2022-23 and Subsequent Assessment Years

06-03-2025 (2025) TaxCorp(LJ) 34906 (HC)

HC : Delhi HC Overturns Revenue's Withholding Tax Directive for SFDC Ireland, Mandates Nil Tax Certification

06-03-2025 (2025) TaxCorp(LJ) 34907 (HC)

HC : Freight Logistics Support Services Not Classified as FTS under India-US DTAA

06-03-2025 (2025) TaxCorp(LJ) 34957 (ITAT)

ITAT - Chennai ITAT Upholds Tax Liability on Freight Payments to Foreign Shipping Companies During Break Bulk Operations

06-03-2025 (2025) TaxCorp(LJ) 34958 (ITAT)

ITAT : Mumbai ITAT Annuls Re-Assessment Proceedings Against Shah Rukh Khan, Citing Lack of New Evidence

05-03-2025 (2025) TaxCorp(LJ) 34890 (HC)

HC : Delhi High Court Declares Lack of Jurisdiction for Revenue Appeal Arising from Amritsar Assessment

05-03-2025 (2025) TaxCorp(LJ) 34891 (HC)

HC : Madras High Court Affirms Quash of Assessment Orders under Section 153C for Lack of Satisfactory Note by Assessing Officer

05-03-2025 (2025) TaxCorp(LJ) 34893 (ITAT)

ITAT : Chennai ITAT Denies Deduction Claim for Overseas Taxes Under Section 37(1), Upholding Clear Statutory Restrictions

05-03-2025 (2025) TaxCorp(LJ) 34898 (ITAT)

ITAT : Chennai ITAT Upholds Assessee's Position, Rejects Revenue’s Addition of Rs. 1.01 Crore Due to Stock Valuation Discrepancy in Tally Software

05-03-2025 (2025) TaxCorp(LJ) 34905 (HC)

HC : BCCI Reclaims Status as Tax-Exempt Entity as Bombay HC Quashes Revenue's Advisory Communication

04-03-2025 (2025) TaxCorp(LJ) 34894 (HC)

HC : Delhi HC Upholds Reassessment of NDTV India’s Income for AY 2008-09: Legal Grounds Established in Earlier SC Ruling

04-03-2025 (2025) TaxCorp(LJ) 34895 (ITAT)

ITAT : Ahmedabad ITAT Overturns Revenue's Additions Under Section 69A for Cash Deposits During Demonetisation

04-03-2025 (2025) TaxCorp(LJ) 34896 (ITAT)

ITAT : Delhi ITAT Rules on Jurisdiction Limits of CIT(A) under Section 251 Amidst Quash of Section 201 Order

04-03-2025 (2025) TaxCorp(LJ) 34897 (ITAT)

ITAT : Chandigarh ITAT Exempts Assessee from Penalty Under Section 271(1)(c); Lacks Evidence of Concealment or Inaccurate Income Disclosure

04-03-2025 (2025) TaxCorp(LJ) 34952 (HC)

HC : Delhi HC Overturns ITAT Ruling: Bad Debt Write-off by Guarantor Not Justified

03-03-2025 (2025) TaxCorp(LJ) 34899 (HC)

HC : Bombay High Court Declares Revenue's Assessment of Amalgamating Companies Void Ab Initio: A Landmark Ruling on Amalgamation Awareness and Tax Assessment Validity

03-03-2025 (2025) TaxCorp(LJ) 34900 (ITAT)

ITAT : Mumbai ITAT Quashes Assessment Orders for AY 2018-19 Due to Lack of Valid Jurisdiction Under Black Money Act

15-03-2025 (2025) TaxCorp(IDT) 10396 (GST)

AAR : Hand-Held Multitool Classified Under Chapter 8204 with 18% Tax Rate, AAR Rejects Lower Classification Claims

15-03-2025 (2025) TaxCorp(IDT) 10397 (GST)

HC : Madras HC Clarifies GST Treatment for Holographic Labels on Alcoholic Beverages as Goods, Not Services

15-03-2025 (2025) TaxCorp(IDT) 10404 (GST)

HC : Rajasthan High Court Dismisses Writ Petition, Grants Liberty for Fresh Registration Application

15-03-2025 (2025) TaxCorp(IDT) 10412 (GST)

HC : Calcutta High Court Upholds GST Registration Cancellation Against Domain Enterprises Due to Lack of Business Verification

15-03-2025 (2025) TaxCorp(IDT) 10413 (GST)

HC : Madras HC Overturns Tax Assessment Order with Conditional Deposit Requirement on Disputed Taxes

15-03-2025 (2025) TaxCorp(IDT) 10414 (GST)

HC : Madras High Court Overturns Assessment Order, Emphasizes Right to One Final Opportunity for Taxpayers in Dispute over GST Returns

15-03-2025 (2025) TaxCorp(IDT) 10415 (GST)

HC : Allahabad HC Strikes Down Seizure and Penalty Orders, Emphasizes Validity of E-Way Bill Despite Technical Discrepancies

15-03-2025 (2025) TaxCorp(IDT) 10542 (Excise)

CESTAT : CESTAT Mumbai Rules in Favor of Cash Refund for Unutilized CENVAT Credit Transitioning to GST Regime

15-03-2025 (2025) TaxCorp(IDT) 10543 (Service Tax)

CESTAT : CESTAT Mumbai Invalidates Service Tax Demand on Charter Hired Ships for Transportation of Crude Oil, Citing Absence of Taxability Criteria

15-03-2025 (2025) TaxCorp(IDT) 10546 (Foreign Trade Policy)

HC : Madras HC Grants IGST Refund to Exporter for Zero-Rated Supply, Upholding Precedents

15-03-2025 (2025) TaxCorp(IDT) 10548 (Customs)

CESTAT : CESTAT Upholds Customs Duty Classification of Fork/Yoke Gear Shift as Transmission Parts under Chapter 8708

15-03-2025 (2025) TaxCorp(IDT) 10549 (Customs)

CESTAT : CESTAT Mumbai Upholds Differential Duty on Imported LED Televisions; Assesses Applicability of Import Regulations

12-03-2025 (2025) TaxCorp(IDT) 10371 (GST)

HC : Rajasthan High Court Directs Special Purpose Vehicle to Appeal Final Orders on Toll Collection Rights Within 15 Days, Adhering to Audit Reports and GST Circular Guidelines

12-03-2025 (2025) TaxCorp(IDT) 10372 (GST)

HC : Calcutta High Court Upholds Assessee’s Right to Appeal, Condoning 79-Day Delay Due to Lack of GST Portal Knowledge

12-03-2025 (2025) TaxCorp(IDT) 10373 (GST)

AAR : Service Providing Technological Support to West Bengal's Public Health Engineering Department Exempt from GST: AAR Decision Highlights Pure Service Classification

12-03-2025 (2025) TaxCorp(IDT) 10377 (GST)

HC : Andhra Pradesh High Court Rules Against Arbitrary Denial of GST Registration on Speculative Grounds

12-03-2025 (2025) TaxCorp(IDT) 10391 (GST)

HC : Delhi High Court Overturns GST Registration Cancellation, Deems Grounds Insufficient and Cryptic

12-03-2025 (2025) TaxCorp(IDT) 10392 (GST)

HC : Dispute Over GST Demand Notice: Madhya Pradesh High Court Blocks Enforcement Against Pan Shopkeeper

12-03-2025 (2025) TaxCorp(IDT) 10393 (GST)

HC : Invalid Demand Notices Quashed by Allahabad HC: Fresh Notice to be Issued within 15 Days

12-03-2025 (2025) TaxCorp(IDT) 10395 (GST)

HC : Delhi High Court Overturns GST Registration Cancellation, Citing Lack of Justifiable Reasons

11-03-2025 (2025) TaxCorp(IDT) 10347 (GST)

HC : Bombay HC Overturns Refund Rejection Due to Violations of Natural Justice and Procedural Fairness

11-03-2025 (2025) TaxCorp(IDT) 10358 (GST)

HC : Calcutta HC Upholds Lawfulness of Show Cause Notice for IGST Recovery in Jembo Cable Commission Case

11-03-2025 (2025) TaxCorp(IDT) 10359 (GST)

HC : Calcutta HC Directs Reissuance of Show Cause Notice Regarding GST Exemption for Commission Income between Bhutan and Indonesia

11-03-2025 (2025) TaxCorp(IDT) 10369 (GST)

HC : Gujarat High Court Upholds Provisional Attachment of Bank Account Amidst Allegations of Fraudulent Invoicing and Circular Trading

11-03-2025 (2025) TaxCorp(IDT) 10370 (GST)

HC : Calcutta HC Overturns Penalty Based on Inconsistent Goods Description, Rules Against Unjust Detention Under GST

11-03-2025 (2025) TaxCorp(IDT) 10523 (GST)

CESTAT : CESTAT Chandigarh Upholds Lack of Excise Duty on Zirconium Washed Dried Frit for Nuclear Applications

11-03-2025 (2025) TaxCorp(IDT) 10524 (Excise)

CESTAT : Pharma Co. Wins Refund Battle: CESTAT Upholds Duty Exemption for Hydrochlorides

11-03-2025 (2025) TaxCorp(IDT) 10525 (Excise)

CESTAT : Chennai CESTAT Overturns Differential Duty Demand on MS Ingots; Affirms Penalty and Interest Void for Interconnected Undertakings

11-03-2025 (2025) TaxCorp(IDT) 10526 (VAT)

HC : Andhra Pradesh High Court Rules Confiscation of Biris Unlawful, Upholding Assessment of Tobacco Classification

11-03-2025 (2025) TaxCorp(IDT) 10527 (Service Tax)

HC : Madras HC Overturns Tax Liability on Export of Services to Singapore Subsidiary

16-03-2025 (2025) TaxCorp (INTL) 19029 (ITAT-MUMBAI)

Income tax - Sections 195 - ITAT Mumbai Declares Payments to Deloitte Global Service Holding Ltd Not Royalty, No TDS Deduction Required - In light of the above findings, it is imperative for LLPs and companies engaging in similar dealings to thoroughly assess the nature of their payments relative to the applicable tax laws and DTAA provisions. This ruling establishes that payments devoid of rights associated with copyright or intellectual property do not attract TDS, enabling companies to plan their tax obligations effectively. Hence, firms should ensure that their service agreements clearly delineate the nature of the services provided to avoid unnecessary tax obligations, especially in cross-border transactions.

16-03-2025 (2025) TaxCorp (INTL) 19028 (ITAT-MUMBAI)

ITAT Declares Assessment Invalid on Grounds of Amalgamation; Non-Existence of Entity Leads to Quashing of Order - The ITAT's ruling provides clarity on the implications of amalgamation on tax assessments, asserting that assessments issued against non-existent entities are invalid and legally unsustainable. Tax authorities must ensure that they respect the legal status of entities post-amalgamation and should initiate assessments only under the name of the newly formed entity. This decision reinforces the need for compliance and proper record keeping during merger and acquisition processes in order to maintain legal and financial integrity.

16-03-2025 (2025) TaxCorp (INTL) 19027 (ITAT-HYDERABAD)

Income Tax - Sections 54F, 147, 148 - ITAT-Hyderabad Upholds Final Assessment Orders on LTCG with Zero Objections from Assessees - In light of the current decision, it is critical for taxpayers to adhere strictly to the procedural stipulations regarding time limits for filing objections against draft assessment orders. Failure to do so could lead to permanent forfeiture of rights to contest assessments effectively. Assessees should ensure timely submission of all necessary documentation and objections to safeguard their interests in future assessments.

16-03-2025 (2025) TaxCorp (INTL) 19026 (ITAT-MUMBAI)

Income tax - Sections 5(2), 9(1)(ii) - ITAT-Mumbai Declares Non-Resident Status For Employee in Egypt, Rules Salary Earned Abroad is Non-Taxable - The decision by the ITAT provides clarity that salary earned for services rendered outside India by a non-resident does not constitute taxable income within India. Assessees in similar positions should ensure they accurately assess their residency status based on days spent in India to capitalize on tax treatments under section 9(1)(ii) of the Income Tax Act effectively. Further, maintaining a clear record of how and where salary is earned can protect against unnecessary tax liabilities in India.

16-03-2025 (2025) TaxCorp (TP) 19025 (ITAT-HYDERABAD)

Income tax - Sections 263 - Corporate Guarantee Controversy: ITAT Reins in PCIT over Erroneous Assessment Revisions - The ITAT ruling signifies the need for the PCIT to substantiate claims of an erroneous assessment order convincingly. Mere absence of inquiry does not automatically translate to prejudicial outcomes unless a tangible link explaining the prejudice is established. Taxpayers are encouraged to maintain thorough documentation and ensure proper disclosures of related-party transactions to circumvent issues of erroneous assessments.

16-03-2025 (2025) TaxCorp (TP) 19024 (ITAT-MUMBAI)

Income Tax - Sections 92(3), 115JB - Legal Decision on Transfer Pricing: Tribunal Criticizes Nil ALP for Management Support Services - The Tribunal's decision in this case underscores the necessity for rigorous functional analysis and valid justification when determining the arm's length price for services, especially in the context of management support services. Tax authorities must substantiate their findings with clear evidence regarding the benefits derived from such transactions to avoid unjustified enhancements to taxable income. The crucial takeaway is that adjustments leading to an artificial reduction of the tax base will not withstand judicial scrutiny unless they are anchored in demonstrable economic realities.

11-03-2025 (2025) TaxCorp (TP) 19023 (ITAT-BANGALORE)

Income Tax - Section 92CA - ITAT-Bangalore Ruling on Intra Group Services Payment Denies ALP Claim of ₹10,78,94,831 for Lack of Tangible Benefit - In light of the ITAT's ruling, assessees engaged in similar intra-group service frameworks should meticulously document the nature of services received to substantiate their claims for cost allocations under arm's length principles. It is essential to isolate each transaction's economic substance, supporting them with strong evidence to demonstrate their relevance and justification in terms of benefit to the entity.

11-03-2025 (2025) TaxCorp (INTL) 19022 (ITAT-KOLKATA)

Income tax - Sections 40(a)(i), 201(1A) - Court Rules Payments Made to Foreign Consultant Are Not Taxable in India Due to Absence of Permanent Establishment - The ruling by the ITAT serves as a significant reminder that when engaging in contracts with foreign entities, one must pay close attention to the definitions of PE and the categorization of financial transactions. Tax obligations hinge on these critical classifications. The rulings underline the importance of ensuring that assessments concerning foreign payments are substantiated and appropriately documented to mitigate the risk of post-assessment challenges based on opinions rather than established legal precedents.

08-03-2025 (2025) TaxCorp (INTL) 19021 (HC-DELHI)

Income Tax - Sections 148 - High Court of Delhi Rules on Limited Inquiry Basis for Reassessment: A Clarion Call for Tax Procedural Integrity - The High Court of Delhi's decision underscores the imperative for Assessing Officers to ensure that the formation of opinions regarding income escaping assessment is grounded in an independent evaluation of facts relevant to the taxpayer and assessment years in question. This ruling compels tax authorities to reassess their procedural frameworks to prevent future instances where reopening assessments may be considered arbitrary or presumptive, ultimately impacting taxpayer rights and compliance.

08-03-2025 (2025) TaxCorp (INTL) 19020 (ITAT-MUMBAI)

ITAT Mumbai Rules Fabrication Charges Non-Taxable for Singapore Company, Upholding Previous Decisions - The ITAT's decision reaffirms that income derived from the refurbishment of manufacturing components should be classified distinctly from technical services when assessing tax liabilities. It provides clear guidance for similar entities on the distinction between manufacturing activities and services under Indian tax provisions and bilateral treaties.

07-03-2025 (2025) TaxCorp (INTL) 19019 (ITAT-DELHI)

Income Tax - Sections 143(3), 144C(13) - ITAT-DELHI Ruling on Taxability of Service Fees Under India-USA DTAA - As determined by the ITAT in this decision, the amount of Rs. 8,81,34,162/- is not taxable under the provisions concerning FIS as specified in the India-USA DTAA. Entities providing consultancy or professional services must ensure they possess the ability to utilize any technical knowledge transferred to them independently. Taxpayers are encouraged to evaluate their billing practices and classify received fees accurately while taking into account the specific stipulations outlined by applicable treaties, specifically to avoid unjust taxation.

07-03-2025 (2025) TaxCorp (INTL) 19018 (ITAT-HYDERABAD)

Income Tax - Section 40(a)(ia) - Legal Crux on Salary Expenses, TDS, and Classification of Services in ITAT-Hyderabad Decision - This ITAT ruling underscores the necessity for taxpayers to maintain comprehensive documentation of employee earnings and justifications for any TDS non-deductions they might attempt, particularly in the context of salary paperwork and expenses. Tax professionals representing clients in similar circumstances should ensure prior disclosure of all relevant evidence so that it is properly considered at the initial assessment stages, potentially avoiding costly litigation and complications at higher appellate levels.

07-03-2025 (2025) TaxCorp (INTL) 19017 (ITAT-MUMBAI)

Income tax - Section 69 - Legal Decision on Illegitimate Capital Gains Ignites Debate over Penny Stocks: ITAT-Mumbai Ruling - The ITAT ruling underscores the necessity for tax authorities to substantiate claims of illegitimate gains with more than just assumptions on stock classifications. It reinforces that taxpayers investing through clear channels possess the right to defend their transactions, especially where no gains were reported. Taxpayers should ensure maintaining comprehensive documentation supporting the legitimacy of their investments to defend against claims of tax avoidance or illegitimacy effectively.

07-03-2025 (2025) TaxCorp (INTL) 19016 (ITAT-DELHI)

Income Tax Appellate Tribunal, Delhi: Supply of Drawings and Designs Qualifies for Exemption from Taxation as FTS - In light of the ITAT's ruling, it is imperative for the Revenue Department to reassess its approach towards income derived from the supply of technical items like drawings and designs under the nexus of royalties and technical service fees. The assurance of taxable status should adhere strictly to recognized exemptions where applicable international agreements support such claims.

07-03-2025 (2025) TaxCorp (INTL) 19015 (ITAT-BANGALORE)

ITAT-Bangalore Rules GIS Charges Payment Not Taxable as Fees for Technical Services, Citing Lack of Technical Transfer - The ITAT’s ruling establishes a critical precedent regarding the differentiation between reimbursements and payments deemed as FTS, emphasizing documented evidence and the nature of services involved. For assessors, this ruling offers actionable insights on ensuring the adequacy of documentation to substantiate claims of cost reimbursement, avoiding classifications as FTS by demonstrating clear operational functions devoid of technical skill impartation.

07-03-2025 (2025) TaxCorp (INTL) 19014 (ITAT-MUMBAI)

ITAT Rules on Tax Treatment of Long-Term Capital Gains for Mauritius Tax Resident, Upholding Exemption under India-Mauritius DTAA - The ruling by the ITAT fortifies the principle that long-term capital gains and losses arising from specified transactions under the India-Mauritius DTAA should be distinctly handled. Taxpayers should leverage the provisions laid out within the DTAA, ensuring transparently documented transactions to avail exemptions while managing capital gains and losses in compliance with regional tax laws. The interpretation of treaties must emphasize the intended benefits for the taxpayer, thus, careful attention should be afforded to how gains or losses are recognized in tax filings.

07-03-2025 (2025) TaxCorp (INTL) 19013 (ITAT-CHENNAI)

Income Tax - Sections 40(a)(ia), 195 - Tribunal Affirms Assessee's Position on TDS Exemption and ALP Benchmarking with Average LIBOR for Overdue Receivables - The Tribunal's decision highlights a clear interpretation of the legal provisions concerning TDS requirements for software services and the appropriateness of using average LIBOR for ALP assessments of overdue receivables. Assessees engaged in similar transactions can confidently rely on these rulings to substantiate their positions regarding TDS exemptions and transfer pricing methodologies.

07-03-2025 (2025) TaxCorp (TP) 19012 (ITAT-HYDERABAD)

Corporate Guarantee Charges: ITAT Hyderabad Sets Precedent on Duration and Rate of Interest - In light of the ITAT's ruling, it is imperative that tax professionals and corporate entities scrutinize the determination of corporate guarantee charges in relation to both the duration for which guarantees are provided and the rate at which they are computed. Companies must ensure compliance with the arm's length principle by accurately assessing the actual risks involved and leveraging comparable market rates that realistically reflect the nature of the guarantees given.

07-03-2025 (2025) TaxCorp (TP) 19011 (ITAT-PUNE)

Income tax - Sections 35(2AB) - Tax Tribunal Affirms Weighted Deduction Eligibility for Domestic R&D Expenditure, Denies Deductions for Foreign Costs - The recent ruling by the ITAT reinforces the critical nature of compliance with legislative stipulations under Section 35(2AB). Assessees must ensure that all claims for weighted deductions are exclusively associated with approved domestic facilities. Companies engaged in R&D should have a robust tax strategy focused on ensuring expenditures align with the legislative requirements, particularly the importance of proper verification and documentation of R&D locations and approvals.

07-03-2025 (2025) TaxCorp (TP) 19010 (ITAT-MUMBAI)

ITAT-MUMBAI Addresses Intra-Group Services: Benefit Test and Cost Allocations - The ITAT’s ruling emphasizes the need for rigorous evidential requirements when addressing intra-group services and the importance of establishing comparability, particularly the application of transfer pricing methods such as CUP. Hence, Assessees should ensure meticulous documentation regarding the nature of services received, including comprehensive financial records of AEs when contesting transfer pricing adjustments. This case signals a clear precedence for ensuring that proper evidentiary frameworks are in place when dealing with intra-group transactions.

25-02-2025 (2025) TaxCorp(CL) 30492 (SC)

Crucial Supreme Court Ruling Confirms Enforceability of Procurement Preference Policy for Micro and Small Enterprises - This landmark decision by the Supreme Court reinforces the legal standing of the Public Procurement Policy for Micro and Small Enterprises and establishes the obligation of relevant authorities to implement this policy effectively. For businesses operating as MSEs, this ruling affirms their rights and the avenues available for recourse in cases of administrative non-compliance.

30-01-2025 (2025) TaxCorp(CL) 30491 (P&H)

Real Estate Regulatory Authority Registration Mandatory for Allottees in Punjab and Haryana: High Court Clarifies Legal Framework - The ruling by the High Court of Punjab and Haryana emphasizes the legal necessity for developers to obtain prior registration with RERA for any kind of real estate activity targeted toward home buyers. This decision underlines the importance of compliance with statutory obligations for promoting transparency and protecting consumer rights within the real estate sector. Developers and promoters must ensure adherence to these regulatory frameworks to safeguard against legal repercussions and maintain consumer trust.

02-05-2023 (2025) TaxCorp(CL) 30490 (NCLT)

NCLT Rules on Loan Agreement and Classification of Home Buyers Under IBC - The Tribunal's ruling reinforces the critical requirement for the registration of securities under the Companies Act, ensuring that all parties understand their legitimate standings in insolvency proceedings. Consequently, creditors must prioritize compliance with registration procedures, as failure to do so can result in diminished claims and status in the event of a corporate insolvency.

10-03-2025 (2025) TaxCorp(CL) 30489 (DELHI)

Delhi High Court Upholds Interim Injunction Against Shareholding Alienation Pending Arbitration - This decision reinforces the legal principle that courts will generally uphold interim injunctive relief where one party demonstrates a likelihood of success on the merits and the potential for irreparable harm. The Delhi High Court's ruling indicates that the Respondent's readiness to perform under the SPA provided sufficient justification for issuing the interim injunction. Furthermore, the Court confirmed that the Arbitration Tribunal exercised its discretion properly, adhering to legal principles that guide the grant of interlocutory relief.

10-03-2025 (2025) TaxCorp(CL) 30488 (NCLT)

Amalgamation of Insurance Companies Upheld by NCLAT, Chennai - The NCLAT, in upholding the amalgamation process, affirmed that such transactions, when conducted in line with the provisions of the Companies Act, do not violate the stipulations of the Insurance Act, provided there are no legal objections raised by the concerned authorities during the notice period. This case underscores the importance of adherence to both procedural requirements and statutory laws for the seamless conduct of mergers and acquisitions in the insurance sector.

07-02-2025 (2025) TaxCorp(CL) 30487 (NCLT)

NCLT Sanctions Share Capital Reduction Due to Adverse Market Conditions - The Tribunal’s sanction of the share capital reduction underscores a pivotal legal precedent where 100 percent shareholder approval and no creditor objections form the basis for capital restructuring. Companies facing adverse economic conditions should consider similar strategic capital reductions, emphasizing that timely and well-supported resolutions can serve as robust legal grounds for financial rehabilitation.

07-02-2025 (2025) TaxCorp(CL) 30486 (SC)

Legal Crux of Supreme Court Decision: Competing Offers in Securities Regulations Affirmed - The Supreme Court's decision elucidates various dimensions of open offers under Regulation 20 of the SEBI regulations, indicating that both timing and the nature of offers must be navigated carefully by acquirers and stakeholders alike. Legal professionals and corporate entities involved in acquisitions should take cognizance of the importance of regulatory timelines and the rights afforded to competing acquirers. As a best practice, it is advisable for clients to maintain open lines of communication with SEBI and stay informed of their obligations, particularly regarding financial deposits and timely public announcements, to avoid any potential pitfalls during acquisition processes.

27-02-2025 (2025) TaxCorp(CL) 30485 (SC)

Supreme Court Clarifies Property Ownership in Partnerships through Relinquishment Deeds - In summation, the Supreme Court’s ruling underscores the essential legal principle that once property is conveyed into a partnership by a partner, it inherently becomes the partnership’s property. This decision affirms that individual claims to property are nullified upon its formal inclusion in a partnership framework. All partners must recognize their relinquishment of personal claims to assets once they are designated as partnership property.

07-02-2025 (2025) TaxCorp(CL) 30484 (CALCUTTA)

RERA as a Self-Contained Code: High Court of Calcutta Upholds Jurisdictional Bar on Civil Courts - The High Court of Calcutta unequivocally held that RERA serves as a self-sufficient regulatory framework that excludes the jurisdiction of Civil Courts in cases governed by its provisions. For those engaged in real estate transactions, this ruling clarifies that compliance and dispute resolution mechanisms are solely vested within RERA's purview. Stakeholders are thus encouraged to engage directly with the RERA framework for any grievances arising from real estate transactions, ensuring conformity to the stipulated processes in the Act.

07-02-2025 (2025) TaxCorp(CL) 30483 (PATNA)

High Court of Patna Upholds FIRs Against Agrani Homes Managing Director for Misappropriation in Real Estate Transactions - The High Court of Patna’s ruling underscores a critical point: compliance with regulatory mandates such as those set forth in the Real Estate (Regulation and Development) Act, 2016 is not merely procedural but foundational. Developers must ensure registration prior to any fund collection, and violations can lead to significant legal repercussions. This decision serves as a wake-up call for real estate developers to maintain transparent and ethical business practices to safeguard against criminal allegations and regulatory actions.

30-01-2025 (2025) TaxCorp(CL) 30482 (NFRA)

Audit Misconduct Leads to Heavy Penalty and 5-Year Debarment of Auditor Neeraj Bansal by National Financial Reporting Authority - The ruling underscores significant lapses in the auditing process that led to a clear finding of professional misconduct. CA Neeraj Bansal's failure to report material misstatements and provide adequate documentation reflects a critical breach of professional responsibilities. The imposition of a Rs. 5,00,000 penalty and a five-year debarment serves as a clear warning to other professionals in the field about the serious implications of failing to adhere to established auditing standards. The decision highlights the importance of maintaining diligent and thorough audit procedures to ensure integrity and credibility in financial reporting.

20-01-2025 (2025) TaxCorp(CL) 30481 (SAT)

Biocon Insider Trading Case: SEBI Upholds Strict Measures Against Violations of Trading Regulations - This decision underscores the importance of strict adherence to insider trading regulations, particularly in cases involving sensitive corporate news. Parties engaged in regular communication with public companies must exercise extreme caution to avoid potential violations of the SEBI regulations. Appellants and individuals associated closely with publicly listed companies should be acutely aware of the ramifications that trading in shares during the possession of UPSI could incur.

31-01-2025 (2025) TaxCorp(CL) 30480 (NFRA)

Sections 143, 132 of the Companies Act, 2013 - NFRA Holds Auditor Accountable for Misconduct in Religare Finvest Statutory Audit - The NFRA's decision in this case emphasizes the critical nature of adherence to auditing standards and ethical guidelines in maintaining the integrity and reliability of financial statements. Auditors must ensure robust risk assessments and compliance with regulatory expectations to protect public trust and avoid severe penalties. Actionable improvements must be made in audit practices, particularly surrounding the evaluation of inherent risks and the thorough collection of evidence to support financial assertions.

06-01-2025 (2025) TaxCorp(CL) 30479 (NCLT)

Appellant Ineligible for Resolution Plan under IBC Due to Default in Filing Financial Statements - In conclusion, the Appellant's inability to fulfill the eligibility criteria stipulated under Sections 164(2) of the Companies Act, 2013, and 29A of the IBC led to the dismissal of the appeal seeking reconsideration of the resolution plan. This decision reinforces the strict adherence to eligibility norms within the context of Corporate Insolvency Resolution Processes and the Non-Justiciability of commercial wisdom exercised by CoC members. The NCLT's ruling stands firm in prioritizing legal compliance over any circumstantial deferral tactics employed by the Appellant.

25-02-2025 (2025) TaxCorp(CL) 30478 (ORISSA)

High Court Dismisses Petition Alleging Illegal Share Transfer for Suppressing Material Facts - The Orissa High Court’s decision clearly delineates the procedural and substantive requisites for maintainability of writ petitions. It underscores that litigants must come forth with complete and truthful disclosures when invoking the Court’s equitable jurisdiction. Consequently, parties must refrain from engaging in practices that constitute abuse of the legal process, as they risk dismissal under established judicial principles encompassing delay, suppression of facts, and res judicata.

28-02-2025 (2025) TaxCorp(CL) 30477 (NCLT)

NCLAT Ruling Validates Admissibility of SFIO Reports in Corporate Investigations - The NCLAT has conclusively established that SFIO reports are admissible in proceedings instituted under Section 212(14A) of the Companies Act, 2013. The Tribunal effectively dismissed objections seeking to invalidate the SFIO report's admissibility, reinforcing the legal framework governing such investigations and the utility of the SFIO report in subsequent legal proceedings.

24-01-2025 (2025) TaxCorp(CL) 30476 (MADRAS)

Refund of Amount Paid for Apartment Purchase in Light of GST Regulations - The High Court's judgment reinforces the principle that without explicit contractual provisions outlining cancellation charges—including tax deductions—residential buyers are entitled to full refunds. This decision mandates that real estate developers review their sales contracts to ensure compliance with taxation regulations, preventing similar disputes.

24-02-2025 (2025) TaxCorp(CL) 30475 (CALCUTTA)

Discretion in Imposing Penalties for Non-Compliance under the Companies Act, 2013 - The Calcutta High Court's decision reiterates the significance of discretion vested in the Registrar of Companies under the Companies Act, 2013 when adjudicating penalties for non-compliance. Companies and their directors should carefully document any extenuating circumstances that may affect their compliance to potentially mitigate penalties. Additionally, maintaining organized records and proactive communication with regulatory authorities can help navigate the complexities of compliance and enhance the chances of a favorable adjudication.

09-05-2024 (2025) TaxCorp(CL) 30474 (NCLT)

Section 232 of the Companies Act, 2013 - Amalgamation Scheme Approved by Bengaluru Bench Denied Sanction by Chandigarh Bench Due to Valuation Discrepancies - This decision underscores the imperative for companies involved in amalgamation to rigorously adhere to valuation standards established by professional bodies such as ICAI and comply with relevant IBBI regulations. Companies must ensure that all material facts are fully disclosed during merger proceedings to avoid jeopardizing approval from regulatory authorities. Going forward, entities must conduct thorough due diligence in valuation practices and transparent communication within their amalgamation frameworks to mitigate risks and bolster stakeholder confidence.

28-01-2025 (2025) TaxCorp(CL) 30473 (DELHI)

High Court of Delhi Denies Bail in Serious Drug Trafficking Case Citing Strong Prima Facie Evidence and Risk of Obstruction in Ongoing Investigation - Following the judgment in this case, it is imperative for legal counsel representing clients accused under the NDPS Act to ensure comprehensive preparation of the bail application. They must clearly demonstrate the absence of intent and consciousness of possession and address the potential implications of larger conspiracies associated with the charges. Additionally, legal representatives should emphasize the client's commitment to appear for proceedings and cooperate fully with the investigation to meet the stringent requirements of bail as dictated by Section 37 of the NDPS Act.

31-01-2025 (2025) TaxCorp(CL) 30472 (SAT)

Legal Crux of Recent SEBI Ruling: Stock Broker Penalty Reduction Amid Misuse of Client Funds - The Tribunal's ruling underscores the importance of maintaining equitable treatment in the penalization of stock brokers across varying cases of financial misconduct. It illustrates a significant step towards ensuring penalties are reflective of the severity of the offense while considering the context of past infractions. Thus, entities involved in trading and intermediary services must reassess their compliance protocols to align with regulatory expectations and avoid repetitions of similar violations. Stock brokers should closely monitor their client fund management practices and ensure adherence to the stipulated regulations to circumvent stringent penalties from regulatory bodies.

07-02-2025 (2025) TaxCorp(CL) 30471 (KARNATKATA)

Court Stipulates Retrospective Effect of Companies Act Section 197 Amendment, Quashes Proceedings Against Petitioner - The Karnataka High Court's decision asserts that the amendments made to Section 197 (15) of the Companies Act, 2013, are not applicable to offenses committed prior to the amendment’s implementation, thus having a significant impact on the maintainability of legal proceedings based on erstwhile provisions. This ruling provides clarity to the corporate sector regarding the boundaries of legal accountability following legislative amendments and reaffirms the importance of temporal determinants in legal assessments.

20-02-2025 (2025) TaxCorp(CL) 30470 (DELHI)

Allegations of Misconduct and Irregularities in Three C Shelters Pvt. Ltd.: Delhi High Court Directs Investigation Amidst Ongoing NCLT Proceedings - This ruling by the Delhi High Court establishes necessary and actionable insights into the judicial approach towards corporate fraud and ongoing investigations. Firstly, it asserts the need for external investigation by the SFIO into corporate misdeeds to protect stakeholders like homebuyers; secondly, it provides clarity on jurisdictional boundaries, thereby reinforcing the NCLT’s authority over insolvency proceedings without interference. It is imperative for homebuyers and stakeholders to actively engage with the Monitoring Committee to ensure their voices and interests are represented adequately.

10-02-2025 (2025) TaxCorp(CL) 30469 (MADRAS)

Madras High Court Denies Bail in Major Economic Crime Involving Bank Fraud and Siphoning of Public Resources - The Madras High Court's decision underscores the serious nature of the alleged economic offenses, particularly the manipulation of banking processes and public trust. The court found no grounds to grant bail, citing the gravity of the accusations and the risks posed to the judicial process. The decision emphasizes the necessity of maintaining the integrity of the trial process, especially in cases involving significant economic implications.

12-02-2025 (2025) TaxCorp(CL) 30468 (DELHI)

Delhi High Court Upholds Maintainability of Writ Petition Against RBI: Emphasizes Duty to Act - In light of the Court’s findings, it is concluded that the High Court possesses the authority to issue directives when a statutory authority neglects its responsibilities. The interplay between the processes in tribunals such as the NCLT and the High Court's jurisdiction reinforces the necessity for public authorities to fulfill their statutory obligations. Therefore, parties with grievances relating to regulatory powers of statutory bodies can maintain writ petitions challenging non-exercise of these powers securely within the judicial framework.

04-02-2025 (2025) TaxCorp(CL) 30467 (DELHI)

Winding Up Petition Transferred to NCLT: Delhi High Court Rules on Lack of Progress - The Delhi High Court has arrived at a clear conclusion regarding the transfer of the winding-up petition to NCLT, resulting from the absence of significant progress after seven years. This decision emphasizes the necessity to adhere to statutory mandates and underscores the significance of timely action within the legal framework surrounding corporate liquidation proceedings. Stakeholders must ensure that they engage timely with the legal processes to avoid stagnation, which could lead to unfavorable outcomes or a forced transfer to a forum that may not be their first choice.

12-02-2025 (2025) TaxCorp(CL) 30466 (DELHI)

Delhi High Court Upholds Serious Fraud Investigation Office's Report Against Petitioners for Financial Misconduct - The Delhi High Court's affirmation of the SFIO's investigation report signifies a pivotal moment in the scrutiny of corporate governance and financial accountability. The ruling establishes that allegations brought forth by investigative bodies, if substantiated by substantial evidence, warrant serious consideration in judicial reviews. While the Petitioners have the opportunity to defend their positions at trial, the High Court’s ruling serves as a robust indication that preliminary attempts to thwart investigative findings via writ petitions are unlikely to succeed. Consequently, the current decision emphasizes the importance of accountability for corporate entities and the legal framework supporting such oversight.

12-02-2025 (2025) TaxCorp(CL) 30465 (DELHI)

High Court Upholds Maintainability of Writ Petition Filed Under Article 226 for Misappropriation of Funds by ECL Directors - The Delhi High Court’s decision reinforces the principle that writ petitions under Article 226 of the Constitution are maintainable in circumstances where public authorities fail to execute their statutory duties. The ruling not only upheld the right of aggrieved parties to seek judicial intervention but also clarified the independent nature of writ jurisdiction vis-à-vis ongoing proceedings in the NCLT and NCLAT. This sets a precedent for future petitions, confirming that aggrieved individuals cannot be left without a remedy.

31-01-2025 (2025) TaxCorp(CL) 30464 (BOMBAY)

Bombay High Court Upholds Jurisdiction of Delhi High Court in Fraud Classification Dispute Involving ICICI Bank - The Bombay High Court’s ruling accentuates the imperative of litigants to pursue claims within the proper jurisdictional confines, particularly when the dealings and cause of action are intrinsically linked to a specific locality. The petitioners in this case should recalibrate their approach to ensure that future grievances are filed where the pertinent cause of action arises, thereby adhering to the jurisdictional protocols to avoid unnecessary complications of forum shopping.

21-01-2025 (2025) TaxCorp(CL) 30463 (NCLT)

Section 241 of the Companies Act, 2013 - Family Company Ownership Dispute: Tribunal Finds for Petitioners in Mismanagement Claim Under Companies Act - The Tribunal decisively ruled in favor of the petitioners, underscoring the necessity of proper governance and legal compliance in corporate operations. For stakeholders, the ruling serves as a reminder that acts deemed void, particularly in family businesses, result in continued and actionable rights for aggrieved parties, irrespective of the passage of time.

05-03-2025 (2025) TaxCorp(IDT) 135677 (CESTAT-KOLKATA)

Legal Crux of CENVAT Credit Case Decided by CESTAT Kolkata - The decision rendered by CESTAT Kolkata underscores a pivotal tenet of tax law pertaining to CENVAT Credit, primarily that the entitlement to CENVAT Credit persists where the associated duty has been duly paid, regardless of alleged manufacturing efficiency or operational obstacles. It is actionable that businesses ensure strict compliance in duty payments to safeguard their claims for CENVAT and mitigate risks of dispute during Revenue investigations.

13-02-2025 (2025) TaxCorp(IDT) 135676 (CESTAT-BANGALORE)

CESTAT Bangalore Upholds Valuation Method Under Central Excise Valuation Rules, Dismissing Extended Limitations and Penalties - The CESTAT Bangalore concluded that the valuation methodology applied by the appellant was not only appropriate but also fully compliant with the regulations stipulated under the Central Excise Valuation Rules, 2000. This ruling clarifies that in situations involving job work manufacturing, companies can adopt a valuation method that integrates raw material costs and conversion costs with profit, thereby reinforcing a vital aspect of tax compliance and valuation practices.

12-02-2025 (2025) TaxCorp(IDT) 135675 (CESTAT-BANGALORE)

Cash Refund of Cenvat Credit Denied Due to Factory Closure: CESTAT Bangalore Upholds Revenue’s Stand - Based on the findings from the CESTAT Bangalore's ruling, it is imperative for businesses operating under the Cenvat regime to recognize that cash refunds of accumulated Cenvat credit will not be granted following factory closures. Companies should maintain active operations to utilize their Cenvat credits and strategize their manufacturing activities accordingly, ensuring compliance with the legislative framework that governs Cenvat entitlements.

12-02-2025 (2025) TaxCorp(IDT) 135674 (CESTAT-BANGALORE)

Refund Denied for Unrealized Foreign Exchange Proceeds on Export Inputs - The determination established by CESTAT Bangalore denotes a critical tightening of refund claims associated with unrealized foreign exchange among exporters. The appellant's failure to realize export earnings directly resulted in the Customs/Excise department’s lawful right to recover duties under the relevant notifications. It is imperative for exporters to remain cognizant of the conditions tied to duty exemptions and to ensure that they actively manage their foreign exchange collections to avoid similar complications in the future.

04-03-2025 (2025) TaxCorp(IDT) 135673 (CESTAT-CHENNAI)

Non-Appearance and Appeal Dismissal – CESTAT Chennai - The recent decision by CESTAT Chennai reconfirms the necessity for appellants to be present during hearings, as lack of attendance without just cause could result in dismissal of appeals for default. Appellants must ensure that they provide valid reasons for non-appearance supported by evidence or risk their appeals being dismissed. This approach safeguards procedural integrity and aligns with the directives of higher judicial authorities.

04-03-2025 (2025) TaxCorp(IDT) 135672 (CESTAT-BANGALORE)

CESTAT Determines Unapplicability of MRP/RSP Assessment for Industrial Sales; Penalties Overturned - This ruling emphasizes the necessity for stringent adherence to classifications under tax laws, particularly regarding imported goods fitted for industrial use. Companies declaring their goods as “not for retail sale” are warranted protection from unnecessary tax assessments based on retail pricing frameworks. Consequently, firms must ensure clear documentation substantiating industrial intentions for imports to mitigate risks associated with misclassification. It is advisable for companies to streamline their import declarations while maintaining comprehensive records of sales channels.

20-02-2025 (2025) TaxCorp(IDT) 135671 (CESTAT-KOLKATA)

CESTAT Kolkata Rules on Classification of Carbon Additives under Customs Tariff - The CESTAT Kolkata's ruling crystallizes the legal parameters for the classification of carbon additives under the Customs Tariff Act, reinforcing prior case law and outlining clear duty structures that importers must regard. Future importers of goods of similar nomenclature should take heed of the distinction being made in the use case of their products to avoid misclassification and consequent penalties. It is advisable for businesses engaged in importing carbon additives to maintain precise usage documentation in their customs declarations to substantiate their classification claims.

28-02-2025 (2025) TaxCorp(IDT) 135670 (HC-MADRAS)

Madras High Court Upholds Natural Justice in Revenue Cases: Grants Right to Cross-Examine Witnesses Before Adjudication - In light of the court's decision, it is essential for parties involved in similar adjudicative processes to proactively seek avenues that protect their rights to fair hearings and due process. Petitioners, particularly in cases involving the Directorate of Revenue Intelligence, must ensure that their requests for cross-examination are formally presented and documented to secure their right to natural justice. Legal representatives should closely monitor the timelines established by the judicial ruling to fortify their position during proceedings.

27-02-2025 (2025) TaxCorp(IDT) 135669 (HC-DELHI)

Delhi High Court Upholds Authority on Gold Smuggling Case: Petitioner’s Non-Disclosure Draws Discretionary Relief Denial - The decision asserts the necessity for petitioners to maintain transparency and full disclosure when presenting claims under Article 226 of the Constitution. The court's conclusion emphasizes that the petitioner, having full knowledge of the relevant orders, must comply with the stipulated penalties and fines to regain possession of the confiscated goods. This enforcement of compliance reflects judicial accountability, urging petitioners to adhere to procedural guidelines and resolve outstanding financial obligations promptly.

05-03-2025 (2025) TaxCorp(IDT) 135668 (CESTAT-KOLKATA)

Valuation Dispute Over Central Excise Duty: CESTAT Kolkata Upholds Royalty Component While Excluding Other Charges - Moving forward, taxpayers should reassess the components included in their duty calculations, ensuring that Royalty is included where relevant while availing exemptions for taxes that do not fit within the statutory framework for inclusivity in valuations.

27-02-2025 (2025) TaxCorp(IDT) 135667 (CESTAT-KOLKATA)

CESTAT Kolkata Rules Out Extended Limitation for Central Excise Duty on Performance Incentives for FY 2010-11 - The CESTAT Kolkata's decision highlights the necessity for entities involved in the Central Excise regime to ensure full disclosure of any performance-based incentives received. This case reinforces the importance of adhering to compliance norms while ensuring that companies do not inadvertently find themselves liable for extended penalties. Companies must maintain transparent documentation and clear communication regarding incentive arrangements with customers to avoid similar disputes.

26-02-2025 (2025) TaxCorp(IDT) 135666 (CESTAT-BANGALORE)

Court Clarifies Recoverability of Excise Duty Paid Through CENVAT Credit in Manufacturing Disputes - In light of the Tribunal's decision, it is imperative for taxpayers to maintain comprehensive documentation aligning with their chosen compliance methods, particularly regarding the application of notifications. It is clear from the ruling that if the allegations align outside the confines of a show cause notice, any adverse findings lack legal standing. Each taxpayer retains the discretion to select the most strategic duty payment route, but they must also be vigilant to ensure that such choices do not (perhaps unintentionally) trigger compliance disputes in their operational tax engagements.

24-02-2025 (2025) TaxCorp(IDT) 135665 (CESTAT-BANGALORE)

CESTAT Rules on Valuation of Clinkers: Upholds Statutory Compliance Over Revenue Neutrality - From this legal decision, it is clear that clinkers must be valued according to the stipulations of Rule 4 read in conjunction with Rule 11 of the Central Excise Valuation Rules, in alignment with precedents set in relevant case law. Additionally, taxpayers must remain vigilant that revenue neutrality does not supersede statutory valuation practices. Proper adherence to these rules is imperative to avoid discrepancies in duty assessments.

25-02-2025 (2025) TaxCorp(IDT) 135664 (HC-BOMBAY)

Duty Drawback Demand Quashed Due To Cirp Moratorium - This case equally reinforces a significant takeaway regarding the treatment of claims in the context of corporate insolvency proceedings. Once a resolution plan receives approval, any claims not comprised within it are waived, and actions predicated on such waived claims become unenforceable. Furthermore, the timing and modality of filing claims during the moratorium period are crucial in safeguarding the interests of the corporate debtor.

24-02-2025 (2025) TaxCorp(IDT) 135663 (HC-DELHI)

Quashing of Order-in-Original Due to Delay in Adjudication Over Import Dispute Involving Rubber Products - The ongoing situation showcases the criticality of timely adjudication in tax and import disputes, mandating that authorities act within prescribed timeframes to preserve the rights of assessees. Based on the current decision, it is actionable for all stakeholders in tax management to adopt robust monitoring mechanisms for ensuring compliance with timelines involved in SCN adjudications.

28-02-2025 (2025) TaxCorp(IDT) 135662 (CESTAT-KOLKATA)

CESTAT Kolkata Finds Delay in Adjudication and Procedural Errors Prejudicial to Smuggling Case on Gold - The CESTAT ruling established that both the extended delay in adjudication and the inadequacy of evidence brought forth by the Revenue invalidated its order regarding the alleged smuggling. The Tribunal's determination emphasized that the authorities must adhere strictly to statutory timelines and, crucially, bear the burden to uphold claims of smuggling, a responsibility they evidently failed to fulfill in this instance. For stakeholders, this highlights the need for diligent documentation of ownership and proactive engagement in appeal processes to avoid procedural lapses.

25-02-2025 (2025) TaxCorp(IDT) 135661 (CESTAT-MUMBAI)

Legal Precedent Set by CESTAT Mumbai in Mixed Hydrocarbon Oil Classification: Revenue Burden Affirmed - This ruling reinforces the principle that classification of goods must be underpinned by empirical evidence and conformity to established industry standards. It reiterates that Revenue must meet a significant burden of proof if it seeks to classify goods contrary to the claims of the importer. The Tribunal upheld classification under CTI 27101990, reflecting adherence to legal standards and procedural integrity.

20-02-2025 (2025) TaxCorp(IDT) 135660 (HC-MADRAS)

Madras High Court Upholds Adjudication Authority’s Decision on Non-Eligibility for Concessional Rate of Duty on Cement Imports - In conclusion, the Madras High Court affirmed that the failure of the importer to comply with the stipulated regulations of Notification No. 4/2006-CE fundamentally disqualified them from receiving a concessional rate of duty. Stakeholders and assessors must clearly understand that direct procurement from the manufacturer is non-negotiable and any high-seas purchases will lead to forfeiture of such benefits. Consequently, the ruling underscores the necessity for precise adherence to compliance mandates in relation to duty concessions to mitigate legal ramifications.

18-02-2025 (2025) TaxCorp(IDT) 135659 (HC-DELHI)

Delhi High Court Rules Extra Duty Deposit (EDD) Not Subject to Customs Duty Refund Limitation - The Delhi High Court firmly established that the limitation period defined in Section 27 of the Customs Act, 1962, does not extend to EDD. This ruling clarifies that EDD does not constitute a customs duty, thus allowing for refund applications to be processed without being barred by the limitation period applicable to customs duties.

13-02-2025 (2025) TaxCorp(IDT) 135658 (CESTAT-KOLKATA)

CENVAT Credit Reversal Invalid: CESTAT Rules in Favor of Government Undertaking - The CESTAT’s findings set a clear precedent that Rule 3(5B) of the CENVAT Credit Rules, 2004 is not applicable when an entity is dealing with slow-moving inventory that is adequately documented and never formally written off. The tribunal has opined that due process and compliance with auditing standards are fundamental to considerations surrounding the extended limitation periods. The decision effectively quashes any presented demand, interest, and penalties related to this matter, underscoring the necessity of maintaining transparent records in tax matters.

13-02-2025 (2025) TaxCorp(IDT) 135657 (CESTAT-KOLKATA)

CENVAT Credit on GTA Services Affirmed in Favor of Appellant: CESTAT Kolkata Rules on FOR Contracts - Upon the examination of facts and considerations of the precedents, the CESTAT concluded that the appellant had lawfully availed CENVAT credit corresponding to the services utilized. Therefore, the previous restriction against this credit was deemed unsustainable, and the Tribunal confirmed that no penalties are applicable in this instance. Taxpayers engaging in FOR contracts should monitor their input services closely to ensure compliance and rightful claim processes.

12-02-2025 (2025) TaxCorp(IDT) 135656 (CESTAT-KOLKATA)

CESTAT Kolkata Ruling on Revenue Neutrality and Limitation Period in Undervaluation Cases - The CESTAT’s ruling underscores the significance of considering the principle of revenue neutrality in cases of perceived undervaluation, particularly in transactions between related entities. It is pivotal that companies engaged in similar practices ensure meticulous documentation of their cost assessment methodologies and maintain clear records of all duty payments to safeguard against unwarranted tax demands.

06-02-2025 (2025) TaxCorp(IDT) 135655 (CESTAT-AHMEDABAD)

Tax Rebate Adjustment Legally Challenged: Court Rules on Demand Status Post Order Revision - In light of the court’s determination, it is imperative for taxpayers to closely monitor any demands or adjustments made by tax authorities, particularly following alterations in legal status as observed through revisionary orders. Taxpayers should ensure that they formally contest any adjustments that may infringe upon their rights or that lack the necessary legal backing. This decision serves as a crucial reminder of the importance of adhering to procedural law in tax matters and the need for clear communication from tax authorities.

09-12-2024 (2025) TaxCorp(IDT) 135654 (HC-BOMBAY)

Appeal Maintainability Challenged in Customs Classification Dispute Over Windows XPE Software and Stickers - The Bombay High Court concluded that the appeal concerning the classification and rate of duty for Windows XPE Embedded software and stickers does not hold maintainability within its jurisdiction and must be directed to the Supreme Court. This decision underscores the necessity for assessees to ascertain the appropriate forum for appeals when engaging in matters of classifications that affect customs duties.

28-02-2025 (2025) TaxCorp(IDT) 135653 (CESTAT-BANGALORE)

CESTAT Bangalore Denies Exemption for Imported Coke Breeze, Clarifying Distinction from Metallurgical Coke - Based on the Tribunal's elucidation, it is explicit that the benefit of Notification No. 12/2012-Cus. dated 17.03.2012 (Sl.No.125) is not extendable to the imported Coke Breeze by the appellants. Importers are advised to closely evaluate the classification of their goods in compliance with exemption notifications and consider alternative arrangements or classifications to optimize their import duties without infringing on legal stipulations.

28-02-2025 (2025) TaxCorp(IDT) 135652 (CESTAT-BANGALORE)

CESTAT Bangalore Ruling on Contaminated Import of Shell on Shrimps - In light of the CESTAT Bangalore decision, it is concluded that the imposition of customs duty is inappropriate in situations where goods become unsuitable for their intended purpose due to unforeseen circumstances, such as contamination. Importers should maintain comprehensive records and document their compliance efforts in real-time, which can serve as robust evidence against unfounded duty claims.

28-02-2025 (2025) TaxCorp(IDT) 135651 (CESTAT-AHMEDABAD)

CESTAT Rules Refund Application Within Time Limit, Upholds Unjust Enrichment Principles - The CESTAT ruling emphasizes that the calculation of refund claim limitations must hinge on final adjudications rather than preliminary or provisional assessments. This ruling clarified that as long as the refund is claimed post-final assessment, and permitted evidence justifying non-passing of duty to end-users is present, claims cannot be rendered invalid on procedural grounds.

27-02-2025 (2025) TaxCorp(IDT) 135650 (CESTAT-AHMEDABAD)

Waiver of Interest on Goods Cleared from Warehouse: CESTAT Ahmedabad Highlights Procedural Flaws in Chief Commissioner’s Order - In light of the decision rendered by CESTAT Ahmedabad, it is imperative for administrative authorities, such as the Chief Commissioner, to ensure that all orders impacting a party's entitlements are not only reasoned but are also accompanied by proper procedural fairness. Moving forward, parties are encouraged to assert their right to a fair hearing and demand written reasons if faced with administrative decisions that may unfavorably alter their legal standings.

03-03-2025 (2025) TaxCorp(IDT) 135649 (HC-MADRAS)

Cenvat Credit Lapses Not Applicable Under Rule 11(3) - Madras High Court Rules on Export Duty Rebate Claims - The recent judgment clarifies that cenvat credit cannot be deemed lapsed under Rule 11(3)(i) of the Cenvat Credit Rules, 2004. Moreover, once an appeal has been lodged, it must be fully examined based on its merits, without regard to the monetary limits set forth by governing authorities. This ruling sets a clear path for companies dealing with similar rebate claims on exported goods and reinforces the importance of adhering to procedural directives regarding appeals.

04-03-2025 (2025) TaxCorp(IDT) 135648 (CESTAT-CHANDIGARH)

Appellants Entitled to Refund of Excise Duty Paid in Cash under EPCG Scheme Amid Non-utilization of CENVAT Credit - The decision underscored that the condition specified in the Exim Policy concerning the exhaustion of available CENVAT credit must be analyzed from the supplier's side rather than placing undue scrutiny on the recipient's actions. In light of this interpretation, the appellants did not breach any conditions for obtaining the refund of the excise duty they paid. To facilitate a smooth refund process, the appellants should ensure compliance with all documentation requirements as stipulated under the relevant tax guidelines to substantiate their claim.

Direct Tax

11-03-2025 NOTIFICATION NO. 19/2025

Zero Coupon Bond - Specified bond notified u/s 2(48) of the Income-tax Act, 1961.

06-03-2025 NOTIFICATION NO. 18/2025

Exemption from specified income U/s 10(46) of IT Act 1961 - ‘The Delhi Building and Other Construction Workers Welfare Board’

24-02-2025 NOTIFICATION NO. 17/2025

Income-tax (Fifth Amendment) Rules, 2025

20-02-2025 CIRCULAR NO: 3/2025

Income-tax deduction from salaries during the financial year 2024-25 under section 192 of the Income-Tax Act, 1961.

18-02-2025 Circular No. 02/2025

Extension of due date for filing of Form No. 56F under the Income-tax Act, 1961

GST

13-03-2025 NOTIFICATION NO. 10/2025 – CENTRAL TAX

Seeks to amend Notification No. 02/2017-Central Tax, dated the 19th June, 2017

14-02-2025 CGST - Circulars No. 247/04/2025

Clarification regarding GST rates & classification (goods) based on the recommendations of the GST Council in its 55th meeting held on 21st December, 2024, at Jaisalmer

11-02-2025 NOTIFICATION NO. 09/2025–CENTRAL TAX

Seeks to bring in force provisions of various rule of Central Goods and Services Tax (Amendment) Rules, 2024

07-02-2025 Instruction No. 02/2025-GST

Procedure to be followed in department appeal filed against interest and/or penalty only, related to Section 128A of the CGST Act, 2017

31-01-2025 Clarifications / Instructions / Orders No. F. No. 190341/12/2025-TRU

Information received from Ministry of Civil Aviation (MoCA) with respect to Gazette notification No. 08/2024 - Integrated Tax (Rate) dated 08.10.2024 notified by Department of Revenue

Corp Law

11-03-2025 NOTIFICATION No. SEBI/LAD-NRO/GN/2025/235

Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2025.

11-03-2025 Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2025/31

Faster Rights Issue with a flexibility of allotment to specific investor(s)

03-03-2025 NOTIFICATION No. SEBI/LAD-NRO/GN/2025/233

Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2025

04-03-2025 CORRIGENDUM No. F. No. SEBI/LAD-NRO/GN/2025/234

Corrigendum - Notification No. SEBI/LAD-NRO/GN/2025/230 dated 14th February, 2025

03-03-2025 Circular No. SEBI/HO/AFD/AFD-POD-1/P/CIR/2025/29

Relaxation in timeline for reporting of differential rights issued by AIFs

IDT

13-03-2025 NOTIFICATION NO. 13/2025-CUSTOMS (N.T.)

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

12-03-2025 DGFT - Trade Notice No. 33/2024-25

Inputs on Draft Amendments in Procedures for Export Authorization for "Stock and Sale" of SCOMET items

10-03-2025 Notification No. 62/2024-25

Amendment in Export Policy Condition under HSN of Schedule-II (Export Policy), ITC(HS) 2022

10-03-2025 DGFT - Public Notice No. 50/2024-2025

Amendment to Para 10.12(D) of the Handbook of Procedures 2023 – Revised Procedure for General Authorization for Export after Repair (GAER)

10-03-2025 FTP - Notification No. 63/2024-25

Extension in Import Period for Yellow Peas under ITC(HS) Code 07131010 of Chapter 07 of ITC (HS) 2022, Schedule -I(Import Policy)

10-03-2025 FTP - Notification No. 64/2024-25

Extension in "Free" Import Policy of Urad ([Beans of SPP Vigna Mungo (L.) Hepper]) [ITC (HS) code 07133110] under ITC (HS) 2022, Schedule -I(Import Policy)

07-03-2025 NOTIFICATION NO. 01/2025-CUSTOMS (ADD)

Seeks to impose ADD on Trichloro Isocyanuric Acid imported from China PR and Japan for 5 years, pursuant to final findings of DGTR

07-03-2025 NOTIFICATION NO. 16/2025-CUSTOMS

Seeks to amend various Notifications

07-03-2025 NOTIFICATION NO. 17/2025-CUSTOMS

Amendment in Notification No. 64/2023-Customs, dated the 7th December, 2023

07-03-2025 FTP - Notification No. 61/2024-25

Amendment in Export Policy of Broken Rice under HS code 1006 40 00

Budget 2025

Finance Bill, 2025: Complete Coverage

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