TaxCorp Total Solution

ITAT : Raipur ITAT Invalidates Final Assessment Due to Lack of Mandatory Approval Under Section 153D; Draws on Precedent from Bombay HC in Akil Gulamali Somji

11-02-2025 (2025) TaxCorp(LJ) 34824 (ITAT)

ITAT : Delhi ITAT Upholds Reassessment Initiated by DRI Insights Despite Assessee's Contention

11-02-2025 (2025) TaxCorp(LJ) 34825 (HC)

HC : Delhi HC Upholds ITAT's Ruling Against Defective Assessment Order on Non-Existent Entity and Dismisses Revenue Appeal

11-02-2025 (2025) TaxCorp(LJ) 34826 (HC)

HC : Rajasthan High Court Orders Timely Resolution of ITR Condonation Applications for AY 2012-13 to AY 2016-17

11-02-2025 (2025) TaxCorp(LJ) 34827 (ITAT)

ITAT : Kolkata ITAT Challenges CIT(A) Additions under Black Money Act: Assessee Cleared of Beneficial Interest in Foreign Accounts

09-02-2025 (2025) TaxCorp(LJ) 34817 (ITAT)

ITAT : SAFEMA Tribunal Affirms Non-Benami Status of Properties in Key Decision

09-02-2025 (2025) TaxCorp(LJ) 34818 (ITAT)

ITAT : ITAT Bangalore Affirms Deletion of Revenue Adjustments and Upholds Assessee’s Deductions in Landmark Ruling

09-02-2025 (2025) TaxCorp(LJ) 34819 (ITAT)

ITAT : ITAT Bangalore Rejects Penalty under Section 270A Due to Lack of Proper Justification by the Assessing Officer

09-02-2025 (2025) TaxCorp(LJ) 34866 (SC)

SC : Supreme Court Dismisses SLP Seeking Reconsideration of MFN Judgment: Legal Clarity Ensured

09-02-2025 (2025) TaxCorp(LJ) 34880 (SC)

SC : Supreme Court Affirms Entitlement to Compounding for First Offence Under Section 276CC

07-02-2025 (2025) TaxCorp(LJ) 34807 (HC)

HC : Himachal Pradesh High Court Invalidates Best Judgment Assessment Due to Violation of Transfer Provisions Under Section 127

07-02-2025 (2025) TaxCorp(LJ) 34808 (HC)

HC : Delhi HC Endorses ITAT Decision on Secondment of Employees by Samsung Korea, Upholding Taxation Principles Under India-Korea DTAA

07-02-2025 (2025) TaxCorp(LJ) 34815 (HC)

HC : Delhi High Court Denies Validity of Successive Notices under Section 148A(b) for Income Escaped Assessment

07-02-2025 (2025) TaxCorp(LJ) 34816 (ITAT)

ITAT : Mumbai ITAT Rules Maintenance and Support Services Not Taxable as Fee for Technical Services under India-Singapore DTAA

06-02-2025 (2025) TaxCorp(LJ) 34809 (HC)

HC : Bombay High Court Orders Immediate Disbursement of Refunds Over 10-Year Delay Citing Procedural Inefficiencies

06-02-2025 (2025) TaxCorp(LJ) 34810 (ITAT)

ITAT : Chennai ITAT Proposes Revenue Reassessment on Taxability of CFS Payments, Favoring Principal Classification Over Intermediary Status

06-02-2025 (2025) TaxCorp(LJ) 34811 (ITAT)

ITAT : Mumbai ITAT Orders Re-computation of Rental Income, Acknowledging Business Expenses

06-02-2025 (2025) TaxCorp(LJ) 34812 (ITAT)

ITAT : Delhi ITAT Endorses 15% Income Attribution to UK-Based Travel Service Provider, Aligning with Previous Bench Rulings

06-02-2025 (2025) TaxCorp(LJ) 34813 (ITAT)

ITAT : Differential Value in Property Transactions: ITAT Mumbai Ruling on Section 56(2)(x) Validates Allotment Letters as Binding Documents

06-02-2025 (2025) TaxCorp(LJ) 34814 (HC)

HC : Rajasthan HC Affirms ITAT Decision Granting Section 80-IA Deductions for Captive Power Generation Profits

06-02-2025 (2025) TaxCorp(LJ) 34839 (SC)

SC : Supreme Court Allows Assessee's Contentions Against Delhi HC Order on Criminal Complaint Under BMA

04-02-2025 (2025) TaxCorp(LJ) 34857 (ITAT)

ITAT : Tribunal Overturns Tax Reassessment for Non-existent Capital Gains Due to Missing Accounts

04-02-2025 (2025) TaxCorp(LJ) 34858 (ITAT)

ITAT : Mumbai ITAT Upholds Assessee's Appeal, Nullifies Section 69 Addition for Alleged Bogus Share Purchases

04-02-2025 (2025) TaxCorp(LJ) 34859 (ITAT)

ITAT : Mumbai ITAT Rules in Favor of Assessee on Deduction Eligibility for Securitization Income Under Section 36(1)(viii)

04-02-2025 (2025) TaxCorp(LJ) 34862 (ITAT)

ITAT : Mumbai ITAT Upholds CIT(A)’s Order, Dismisses Revenue’s Appeal Against Ambuja Cement for Non-Leviability of Penalty on Income Reporting

12-02-2025 (2025) TaxCorp(IDT) 10216 (GST)

HC : Delhi HC Invalidates Demand Notice, Criticizes Ambiguous Adjudication Under CGST Act

12-02-2025 (2025) TaxCorp(IDT) 10223 (GST)

HC : Kerala High Court Overturns Input Tax Credit Disallowance for Mall Construction, Directs Re-evaluation Amid Legal Precedents

12-02-2025 (2025) TaxCorp(IDT) 10224 (GST)

HC : Calcutta High Court Overturns Appeal Rejection Citing Reasonable Delay in Filing Amid Procedural Confusion

12-02-2025 (2025) TaxCorp(IDT) 10225 (GST)

HC : Delhi HC Invalidates Revenue's Disallowance of Input Service Distributor Credit Transition Amid Retrospective Amendment

12-02-2025 (2025) TaxCorp(IDT) 10227 (GST)

HC : Bombay High Court Orders Reconsideration of GST on Leasehold Rights Transfer, Citing Procedural Irregularities in Revenue's Adjudication

12-02-2025 (2025) TaxCorp(IDT) 10283 (VAT)

HC : Calcutta HC Overturns Single Judge Ruling: Validates West Bengal Entry Tax Act Amidst Constitutional Review

12-02-2025 (2025) TaxCorp(IDT) 10288 (GST)

HC : Bombay High Court Quashes Provisional Attachment Order on Bank Account, Criticizes Lack of Proper Justification

12-02-2025 (2025) TaxCorp(IDT) 10289 (GST)

HC : Allahabad High Court Rules Detention Order Against Driver Violated Natural Justice Principles

11-02-2025 (2024) TaxCorp(IDT) 9446 (GST)

AAR : Maharashtra AAR Confirms Tax Exemption for Specific Accommodation Services Provided by Charitable Society in Hostels

11-02-2025 (2024) TaxCorp(IDT) 9465 (Service Tax)

CESTAT : CESTAT Delhi Declares Handling Charges as Incidental to Sale of Cars, Exempt from Service Tax

11-02-2025 (2024) TaxCorp(IDT) 9986 (GST)

HC : Allahabad HC Voids Assessment Order Due to Flawed Natural Justice Process, Mandates Fresh Hearing for Assessee

11-02-2025 (2024) TaxCorp(IDT) 10021 (Foreign Trade Policy)

HC : Bombay High Court Upholds Jurisdiction of ADGFT to Hear Appeals Against Rejection of MEIS Applications by JDGFT

11-02-2025 (2024) TaxCorp(IDT) 10023 (Customs)

CESTAT : CESTAT Ahmedabad Rules in Favor of Assessee on Classification of Pulses Waste as Dried Leguminous Vegetables

11-02-2025 (2024) TaxCorp(IDT) 10037 (GST)

HC : Telecommunication Towers Not Classified as Immovable Property: Delhi HC Quashes SCNs Denying ITC

11-02-2025 (2025) TaxCorp(IDT) 10304 (GST)

HC : Jharkhand HC Overrules Revenue's Denial of Pre-Deposit Refund for Late Application!

11-02-2025 (2025) TaxCorp(IDT) 10305 (GST)

HC : Steel Authority of India’s Claim to Transitional VAT Credit Upheld by Jharkhand HC

11-02-2025 (2025) TaxCorp(IDT) 10306 (Service Tax)

HC : Affiliation Fees Collected by Bangalore University Deemed Non-Taxable: Writ Appeal Favorable to Assessee

11-02-2025 (2025) TaxCorp(IDT) 10314 (GST)

HC : Kerala High Court Declares Cash Seizure by GST Department Illegal, Orders Immediate Return of Funds

10-02-2025 (2024) TaxCorp(IDT) 10107 (Excise)

CESTAT : CESTAT Ahmedabad Affirms Dismissal of SCN Proceedings for Polyester Yarn Manufacturers, Citing Supreme Court Precedents

10-02-2025 (2025) TaxCorp(IDT) 10109 (Customs)

HC : Madras High Court Orders Refund of Customs Duty on Re-exported Black Pepper Declared Unfit for Consumption

10-02-2025 (2025) TaxCorp(IDT) 10111 (Service Tax)

HC : Kerala High Court Upholds Service Tax Liability on Kerala State Ex-services League for Security Agency Services

10-02-2025 (2025) TaxCorp(IDT) 10114 (Excise)

CESTAT : CESTAT Mumbai Endorses CENVAT Credit for Miscellaneous Chemicals: Key Input Services Recognized

10-02-2025 (2025) TaxCorp(IDT) 10115 (Customs)

CESTAT : CESTAT Mumbai's Affirmation of Self-Assessment Principle in Daikin's Refrigerating Units

10-02-2025 (2025) TaxCorp(IDT) 10116 (Service Tax)

CESTAT : CESTAT Delhi Rules Out Service Tax Demand on Commission for Real Estate Leads

10-02-2025 (2025) TaxCorp(IDT) 10117 (Service Tax)

CESTAT : CESTAT Ahmedabad Affirms Mining Classification for Lignite Excavation Under Turnkey Contracts

10-02-2025 (2025) TaxCorp(IDT) 10124 (Service Tax)

HC : Madras High Court Reverses Service Tax Demand on Reimbursable Expenses Following Supreme Court Precedent

10-02-2025 (2025) TaxCorp(IDT) 10129 (VAT)

HC : Madras HC Strikes Down Tax Demand on Freight and Insurance for Car Transfers by Mahindra & Mahindra Ltd. under Tamil Nadu Entry Tax Act, 1990

10-02-2025 (2025) TaxCorp(IDT) 10130 (Service Tax)

CESTAT : Cement Manufacturer J K Lakshmi Cements Liable for Service Tax under Reverse Charge Mechanism for Payments to DMF and NMET, CESTAT Delhi Rules

09-02-2025 (2025) TaxCorp(IDT) 10123 (Excise)

HC : Andhra Pradesh HC Overturns Tax Classification of PSC Sleepers as Works Contract Under AP-VAT Act, 2006

09-02-2025 (2025) TaxCorp(IDT) 10141 (GST)

HC : Madras High Court Overturns Assessment Order; Mandates 25% Deposit on Disputed Taxes Amid Return Discrepancies

12-02-2025 (2025) TaxCorp (INTL) 18956 (HC-DELHI)

Income tax - Sections 195 - Court Ruling Declares CBDT Circular No. 07/2007 Ultra Vires, Upholds Assessee’s Right to Refund for Excess TDS - In light of the High Court’s decision, taxpayers can assert their rights for refunds of excess TDS without the limitation period imposed by the CBDT Circular No. 07/2007. Taxpayers must ensure to streamline and prioritize the lodging of these applications to secure claims for tax rebates efficiently. Additionally, companies should maintain meticulous records and documents supporting their claims to preempt potential disputes with tax authorities.

12-02-2025 (2025) TaxCorp (INTL) 18955 (HC-DELHI)

Income tax - Sections 36(i)(iv), 40A - High Court of Delhi Clarifies Deductibility of Employer Contributions to Superannuation Funds - The Delhi High Court's decision unequivocally underscored that contributions exceeding initial and ordinary annual payments towards superannuation funds are not bound by deduction limits as outlined in the Income Tax Act. This determination empowers employers to commit additional resources towards pension funds without incurring disallowable expense categorizations under current tax legislation.

12-02-2025 (2025) TaxCorp (INTL) 18954 (ITAT-KOLKATA)

Income-tax - Sections 143(3), 144C(13) - ITAT Delhi Rules on Non-Taxability of Consultancy Fees under India-US Tax Treaty - This legal decision underscores the importance of defining the scope of digital services provided and the accompanying contractual obligations. Assessors and corporations alike must be acutely aware that not all subscription fees or digital service revenues amount to FTS, particularly when the underlying technology or expertise is not made available in a tangible manner. Companies with cross-border operations should ensure well-structured licensing agreements that specify the nature and extent of the services provided, thus averting subsequent disputes with tax authorities.

12-02-2025 (2025) TaxCorp (INTL) 18953 (ITAT-KOLKATA)

Income tax - Sections 90, 154 - ITAT Kolkata Rules Against Denial of Foreign Tax Credit Due to Procedural Error - The ITAT Kolkata's ruling reinforces the importance of substance over form in tax matters, particularly in the context of international taxation where relief from double taxation is paramount. Tax authorities cannot deny credits on mere procedural grounds when substantive compliance exists. Moving forward, practitioners should leverage this decision to advocate for taxpayer rights, ensuring that procedural errors do not result in unjust financial burdens on compliant taxpayers.

12-02-2025 (2025) TaxCorp (INTL) 18952 (ITAT-CHENNAI)

Income Tax - Sections 2(24)(x), 32(1)(ii), 36(1)(va) - Disallowance of Depreciation, Non-Compete Fees, and Employee Contributions’ Timing Impacts Assessment Outcome - In light of the Tribunal's rulings, it is crucial for companies, especially those making substantial claims such as depreciation or deductions from employee contributions, to ensure compliance with statutory timeframes. Any non-adherence to such timelines can result in disallowance and potentially detrimental financial implications. Consequently, companies should institute robust internal controls and periodic audits to prevent timing discrepancies that could lead to adverse tax adjustments.

12-02-2025 (2025) TaxCorp (TP) 18951 (ITAT-MUMBAI)

Income Tax - Section 92CA - Corporate Guarantee Commission: ITAT Mumbai Reinstates Arm's Length Pricing in Favor of Assessee - The judgment pronounced by the ITAT in this matter underscores the criticality of adhering to established arm's length principles with respect to corporate guarantees. The ruling reiterates the competence of the CIT(A) to analyze and overturn adjustments proposed by the AO/TPO where they do not reflect market realities.

12-02-2025 (2025) TaxCorp (TP) 18950 (ITAT-DELHI)

ITAT Delhi Upholds Arm's Length Principle for Loans and Corporate Guarantees; Adjusts Transfer Pricing Assessments - The ITAT's ruling reinforces the relevance of applying the arm's length principle in transfer pricing, particularly concerning intra-group loans and corporate guarantees. It elucidates the need for consistent methodologies backed by credible market data to substantiate the arm's length nature of financial transactions. Assessees should incorporate robust benchmarking studies for positioning their transfer pricing strategies, particularly when establishing interest rates and guarantee fees in the context of intra-group financing.

12-02-2025 (2025) TaxCorp (TP) 18949 (ITAT-MUMBAI)

Income tax - Sections 92BA, 92CA - ITAT Mumbai Declares Transfer Pricing Adjustment Invalid Post Omission of Clause from Domestic Transaction Definition - This decision clearly establishes that the omission of a legal provision effectively incapacitates the authorities from invoking regulatory action under that provision. For taxpayers, this serves as a crucial reminder to monitor any legislative amendments closely and seek rectification in assessments predicated upon obsolete legal frameworks.

11-02-2025 (2025) TaxCorp (FEMA-INTL) 18948 (HC-SAFEMA)

Appellate Tribunal Overturns FEMA Seizure Order on Lack of Investigative Rigor by Authorities - This decision underscores the necessity for investigative bodies to adhere to established protocols when gathering evidence in regulatory enforcement actions. Authorities must ensure thorough investigation pathways, particularly prioritizing the source of funds, to support any case brought under FEMA. Future actions against individuals or entities should be firmly rooted in corroborative evidence rather than incomplete witness statements or assumptions.

09-02-2025 (2025) TaxCorp (INTL) 18947 (ITAT-DELHI)

Income tax - Sections 195, 264 - High Court of Delhi Affirmed Revision Application Rights for Assessees Under Mistaken Tax Belief - The Delhi High Court's ruling provides a critical clarification that assessees retain the right to seek revisions under Section 264 despite an initial mistaken belief about tax liabilities leading to self-disallowances. This underscores the importance of reassessing tax positions, especially when substantive legal provisions afford potential reliefs from such misunderstandings.

09-02-2025 (2025) TaxCorp (INTL) 18946 (ITAT-DELHI)

High Court of Delhi Declares Adobe India Not a Dependent Agent PE, Upholding Arm's Length Principle and DTAA Benefits - The High Court's ruling fortifies the principle that when a transfer pricing analysis establishes transactions between a non-resident and its Indian associate enterprise as at arm's length, further profit attribution to a permanent establishment is unwarranted. Companies should ensure that their transactions conform to the detailed requirements of both the Income Tax Act and the corresponding DTAA provisions, alongside maintaining comprehensive documentation to sustain the arm's length principle.

09-02-2025 (2025) TaxCorp (INTL) 18945 (ITAT-MUMBAI)

ITAT-Mumbai Clarifies Tax Treatment of Administrative Support Services: Fees not Taxable as FTS under India-UK Treaty - The ITAT's ruling sets a significant precedent confirming that administrative support services, which do not transfer technical skills or knowledge, should not be classified as fees for technical services. Assessees providing comparable support services can rely on this decision to avoid unnecessary tax liabilities in India, particularly in crafting similar agreements, which can fortify their position in future assessments.

09-02-2025 (2025) TaxCorp (TP) 18944 (ITAT-DELHI)

Income-tax - Section 144C(1) - Legal Dispute Over Comparables in Transfer Pricing: ITAT Ruling on Exclusion Based On Functional Dissimilarity - The Tribunal's decision emphasizes the critical evaluation of comparables in determining the arm's length price in transfer pricing assessments. It underscores the necessity for strict adherence to the FAR test when identifying comparables, reinforcing that functional similarity is not merely a peripheral aspect but an essential requirement. Hence, assessable entities should proactively ensure that their comparables meet these rigorous standards to withstand the scrutiny of transfer pricing audits.

09-02-2025 (2025) TaxCorp (TP) 18943 (ITAT-DELHI)

Income Tax - Section 144C - Timely Assessment Proceedings Validated by ITAT Delhi in AMP Cost Dispute - The ITAT’s decision elucidates the requirement for strict compliance with procedural timelines under the Income Tax Act, particularly in transfer pricing cases. For future assessors, it is actionable to ensure meticulous adherence to procedural details and timelines as established within section 144C(13) to avoid claims of delays or time-barred assessments.

09-02-2025 (2025) TaxCorp (TP) 18942 (ITAT-PUNE)

Income Tax - Sections 144B, 143(3), 144C - Invalidation of Transfer Pricing Adjustment Reaffirmed by ITAT due to Binding Nature of DRP Directions on Royalty Payments - This Tribunal decision emphasizes the imperative for Assessing Officers to adhere to the directives issued by the Dispute Resolution Panel in transfer pricing matters. The actionable conclusion from this ruling is that assessees should meticulously document their transfer pricing mechanisms and promptly engage with the DRP when faced with adverse assessments. Upon receiving favorable DRP directions, it is prudent for assessees to ensure compliance from the AO and escalate matters to the Tribunal if necessary to safeguard their interests against non-observance of binding decisions.

09-02-2025 (2025) TaxCorp (TP) 18941 (ITAT-DELHI)

Income Tax - Sections 143(3), 144C - ITAT-Delhi Rules Against Protective and Substantive Addition of AMP Expenses in Data Processing Case - The decision by the ITAT effectively reaffirmed the approach initially taken by the Delhi High Court regarding AMP expenses in the context of transfer pricing, advocating for a more scrutinized view of what constitutes an "international transaction" under the Income Tax Act. It underscores the importance for assessees in the data processing industry, and related fields, to closely examine their AMP expenses in the light of established legal precedents.

09-02-2025 (2025) TaxCorp (TP) 18940 (ITAT-MUMBAI)

ITAT Rules in Favor of Rallis India: Upholds Arm's Length Principle Against Unfounded TP Adjustments - The ITAT’s ruling emphasizes the critical importance of accurately assessing transfer pricing adjustments in line with the arm's length principle. Here, the Tribunal's confirmation that Rallis India’s sales strategy through TCIPL resulted in tangible net benefits nullifies unwarranted upward adjustments. Taxpayers engaged in transactions with associated enterprises are encouraged to maintain comprehensive documentation that clearly outlines the financial advantages relating to credit terms and associated risks linked with their pricing structures.

09-02-2025 (2025) TaxCorp (TP) 18939 (ITAT-BANGALORE)

ITAT-Bangalore Rules on Functional Dissimilarity and Turnover Filter in Transfer Pricing Dispute - In light of the decisions rendered by the ITAT-Bangalore, stakeholders in transfer pricing strategies must ensure rigorous functional comparability in their analyses. The Tribunal's directive for the exclusion of outlier comparables based on turnover limits also underscores the need for a definitive benchmarking process. For effective outcome management, assessees should systematically verify the functional characteristics of potential comparables and remain cognizant of the statutory requirements surrounding the period of receivables to optimize their compliance and defend their transfer pricing practices.

06-02-2025 (2025) TaxCorp (FEMA-INTL) 18938 (HC-MADRAS)

Madras High Court Upholds Writ Petition Dismissal, Affirms Appellate Remedies under FEMA for Foreign Exchange Violations - In light of the Madras High Court's decision, it's imperative for affected parties receiving a SCN under FEMA to carefully document their responses and pursue established appeals through the designated statutory frameworks provided under Sections 19 and 35 where applicable. The Court actively encourages exhausting alternative remedies before approaching the writ jurisdiction, reinforcing the necessity for compliance with regulatory processes. It is advisable for assessees to maintain meticulous records and seek timely legal counsel in regard to any notices or proceedings initiated under FEMA to safeguard their interests.

06-02-2025 (2025) TaxCorp (FEMA-INTL) 18937 (HC-SAFEMA)

Appellate Tribunal Validates Dismissal of Charges Under FEMA Against Respondent Companies Based on Customs Duty Allegations - The Tribunal's clear rationale in dismissing the appeals brings forth an actionable conclusion — assists in reinforcing the importance of adhering to prescribed protocols laid out for valuation and compliance under customs laws, which significantly impacts the assessments made under FEMA. Companies engaging in export transactions should ensure robust documentation and certification from government-recognized laboratories to safeguard against potential allegations of undervaluation or evasion of duties. This decision further emphasizes the significance of grounding legal challenges within credible evidence, especially when presenting counter-evidence against findings from accredited entities.

07-02-2025 (2025) TaxCorp(CL) 30462 (DELHI)

Section 132 of the Companies Act, 2013 - Delhi High Court Affirms Constitutionality of NFRA Provisions and Section 132 of Companies Act - In light of the Delhi High Court's affirmation of the validity of Section 132 of the Companies Act, 2013, and the NFRA Rules, auditing firms and Chartered Accountants should reinvigorate their understanding of professional accountability and compliance standards. This ruling underscores the need for stringent internal controls and proactive measures in the auditing process to mitigate risks of professional misconduct and ensure adherence to evolving regulatory frameworks. Assessees need to re-evaluate their audit practices to remain compliant with NFRA's oversight and safeguard their professional reputation.

14-10-2024 (2025) TaxCorp(CL) 30461 (MADRAS)

High Court of Madras Upholds Investor Rights Against Arbitrary Penalty Guidelines by NSE - In light of the High Court of Madras ruling, it is essential for regulatory bodies such as the NSE to formulate guidelines that uphold fairness and avoid arbitrary discrimination among investors. The stipulation setting a specific date as a threshold for penalty refunds was quashed, affirming the necessity for all market participants to be treated equitably. Agencies are required to align their operations with these principles to ensure that investors receive just treatment without bias toward the timing of regulatory actions.

24-12-2024 (2025) TaxCorp(CL) 30460 (NCLT)

Sections 430, 59 of the Companies Act, 2013 - NCLAT Allows Resumption of Company Petition Following Dismissal of Civil Suit, Clarifying Jurisdictional Limitations Under Companies Act, 2013 - The NCLAT's decision reinforces the principle that an appellant should not be unduly penalized for pursuing parallel claims when one route becomes moot or withdrawn. For practitioners and stakeholders, this sets a legal precedent that while remedies should be pursued judiciously, the cessation or withdrawal of one claim should not preclude access to alternate remedial actions if the circumstances warrant it, reaffirming the concept of fair justice access under the Companies Act.

02-01-2025 (2025) TaxCorp(CL) 30459 (NCLT)

NCLT Allows Company ‘R’ to Resume Equity Raising Following Mismanagement Allegations - In light of the NCLT's decision, companies facing similar allegations of oppression and mismanagement should carefully ensure their operational strategies align with their financial capabilities and legal frameworks. The ruling underscores that the ability to mobilize capital is vital for a company's stability and growth, and courts are likely to prioritize a company's need for operational flexibility over restrictive interim measures when ongoing management disputes arise.

05-11-2024 (2025) TaxCorp(CL) 30458 (NCLT)

NCLAT Upholds RP's Authority to Classify Appellant as Related Party; Credits Removal from Committee of Creditors - The NCLAT's decision endorses the RP’s authority to classify creditors as related parties based on their shareholding structures and affiliations. This ruling affirms that related parties lack voting and participatory rights in CoC, thereby reinforcing the integrity of the creditor committee's formation. The appellant's removal from the CoC has been validated, highlighting a critical aspect of creditor classification under the IBC.

07-01-2025 (2025) TaxCorp(CL) 30457 (MADRAS)

Madras High Court Upholds CLB’s Exit Formula for Foreign Investors Amid Controversy in Joint Venture - The Madras High Court firmly established that the exit formula stipulated by the CLB does not equate to a buy-back mechanism but rather serves as a legitimate financial mechanism aimed at reducing share capital through repayment to foreign investors. The ruling underscores the necessity for compliance with the CLB's directives and the need for parties to engage with established legal procedures rather than circuitously attempting to route through alternative avenues. It encourages foreign investors to adhere to the structured protocols provided by the CLB and to safeguard their interests through proper channels.

30-01-2025 (2025) TaxCorp(CL) 30456 (NCLT)

Penalty Imposed for Delayed Filing of Board Reports Under Companies Act, 1956 - The Tribunal’s ruling underscores the imperative for meticulous compliance with statutory requirements under the Companies Act, 1956. It establishes that penalties for non-compliance regarding the filing of Board Reports are not only enforceable but also exhibit an element of continuity. Hence, organizations should prioritize adherence to deadlines for such filings to mitigate risks of escalating penalties. Given the Tribunal's allowance for compounding at an amended rate, there exists an actionable pathway for companies to address past defaults while ensuring future compliance safeguards are reinforced.

27-01-2025 (2025) TaxCorp(CL) 30455 (DELHI)

Companies Obligated to Submit Financial Statements Timely; Penalties Valid - In light of the above legal adjudication, companies must adhere strictly to the requirements for the timely submission of their financial statements as outlined in the Companies Act. The insistence on statutory deadlines implies businesses should effectively manage their timelines for AGMs and subsequent financial documentation to avoid penalties. Companies are encouraged to maintain compliance with all legal mandates and seek timely extensions when necessary, ensuring they operate within the legal framework to prevent financial and reputational damage.

06-01-2025 (2025) TaxCorp(CL) 30454 (NCLT)

Section 425 of the Companies Act, 2013 - Tribunal Addresses Contempt of Court in IL&FS Case Amid Allegations of Asset Concealment - The Tribunal’s decision underscores the necessity for clear communication and awareness of court orders to establish contempt. The ruling elucidates that mere actions perceived as fraudulent are insufficient to substantiate contempt without demonstrable knowledge of existing court orders. Nevertheless, it affirms that a demonstrated failure to adhere to restraining orders may still result in sanctions, specifically in cases involving a willful disregard for judicial directives.

22-01-2025 (2025) TaxCorp(CL) 30453 (BOMBAY)

Bombay High Court Affirms Rigor in Application of Section 466 of Companies Act - This ruling emphasizes the strict criteria that must be met to invoke a stay on winding-up proceedings under Section 466 of the Companies Act. Future parties seeking such stays will need to ensure they present robust, credible evidence that aligns with the scrutiny applied in this case. Reliance solely on creditor consent or settlement will no longer be tenable absent a demonstration of bona fide intent and significant shifts in the circumstances that warrant reconsideration of the court's initial decision.

24-01-2025 (2025) TaxCorp(CL) 30452 (NCLT)

Legal Dispute Over Trust Deed Amendment: NCLAT Upholds Interim Order Protecting Corporate Stability and Stakeholder Interests - The NCLAT's ruling underscores the necessity of judicial discretion in maintaining corporate stability amidst familial disputes. The interim orders issued by the NCLT have been affirmed, thereby preserving the existing management framework and shareholding structure of the corporation. It is essential for the parties involved to respect the tribunal's orders to avoid further legal complications.

25-10-2024 (2025) TaxCorp(CL) 30451 (BOMBAY)

High Court of Bombay Upholds Investigation into Allegations of Fraud in Real Estate Transactions under RERA - The High Court's decision underscores the necessity for a balanced judicial approach wherein the rights of both allottees and promoters are duly recognized and safeguarded under the Real Estate (Regulation and Development) Act, 2016. It is actionable for all parties involved in real estate transactions to meticulously document their agreements and claims, ensuring transparency while being aware that allegations of fraud can lead to a significantly heightened scrutiny during dispute resolution.

10-08-2022 (2025) TaxCorp(CL) 30450 (NCLT)

Section 59 of the Companies Act, 2013 - NCLT Dismisses Petition for Rectification of Register of Members Due to Undertaking Breach by Petitioner - The decision by the NCLT highlights the paramount importance of fulfilling undertakings given in legal proceedings. It further underscores the necessity for petitioners to adhere to commitments made to the tribunal, as failure to do so may result in the dismissal of petitions and a loss of legal rights. Consequently, potential petitioners should ensure that all conditions associated with their claims and undertakings are met as a best practice of litigation.

14-01-2025 (2025) TaxCorp(CL) 30449 (DELHI)

Court Directs SEBI to Produce Documents for Compounding of Offences under SEBI Act - In conclusion, the High Court's decision elucidated that for a court to effectively exercise its discretion in compounding offences under the SEBI Act, an understanding of the factors considered by SEBI during recommendations is critical. The court mandated the production of documents that would enable it to make a just determination. This ruling underscores the need for transparency from regulatory authorities to facilitate fair legal proceedings.

02-01-2025 (2025) TaxCorp(CL) 30448 (SC)

Legal Crux of the Supreme Court Decision on the Validity of Unprivileged Wills Involving Property Disputes - The Supreme Court’s ruling firmly highlights the necessity for clarity, transparency, and the establishment of the genuineness of a will, especially in unprivileged contexts. Individuals seeking to create or contest wills must ensure deliberate compliance with legal standards, maintain thorough documentation, and consider the implications of who bears responsibility for evidentiary support.

10-01-2025 (2025) TaxCorp(CL) 30447 (SC)

Limitation for Setting Aside Arbitral Award Strictly Interpreted - In light of the ruling by the Supreme Court, it is imperative for litigants to diligently track and adhere to the strict timelines established under the Arbitration and Conciliation Act, particularly when the period for filing applications falls adjacent to or within court vacation periods. This case serves as a clear reminder that judicial leniency regarding limitation does not apply once the statutory timeframe has conclusively elapsed.

19-11-2024 (2025) TaxCorp(CL) 30446 (BOMBAY)

Mandating Rational Policy Framework to Curb Illegal Building Registrations Under RERA - The ruling necessitates enhanced collaboration between local authorities and MahaRERA, promoting transparency in the registration and verification processes related to real estate projects. Stakeholders must adhere to these directives to foster a more accountable real estate environment. The integration protocol outlined by the court represents a significant step in reinforcing consumer protection and mitigating the risks of fraudulent activities within the sector.

14-01-2025 (2025) TaxCorp(CL) 30445 (KERALA)

Kerala High Court Rules Assessment Barred by Limitation Period under KGST Act - This decision by the Kerala High Court establishes a clear precedent that adherence to the procedural stipulations of the KGST Act is non-negotiable. The ruling underscores the importance of issuing notices timely, as non-compliance can lead to significant ramifications, including the barring of assessments. Tax professionals must ensure that all communications are documented and issued within specified time frames to avoid similar consequences in future tax assessments.

16-01-2025 (2025) TaxCorp(CL) 30444 (BOMBAY)

Bombay High Court Quashes Wilful Defaulter Declaration for Breach of Natural Justice - In light of the current decision, the importance of stringent adherence to procedural fairness and natural justice within financial regulatory frameworks cannot be overstated. The ruling underscores the necessity for financial institutions to provide full documentation to any party facing serious allegations, particularly regarding declarations of wilful default. Therefore, institutions must exercise caution in their processes to prevent arbitrary decisions that can severely impact entities' rights to conduct business.

23-12-2024 (2025) TaxCorp(CL) 30443 (DELHI)

Delhi High Court Grants Regular Bail in Serious Fraud Case, Emphasizes Investor Interests and Public Trust - The Delhi High Court's decision underscores the balancing act courts must perform when handling allegations of serious fraud under the Companies Act. It illustrates a judicial willingness to enable accused individuals to actively work on rectifying potential impacts of alleged fraudulent activities while ensuring that the legal framework surrounding bail applications is adhered to. This decision enables applicants to further their efforts toward project completion and restoration of investor confidence without immediate threat of incarceration, provided they comply with the stipulated bail conditions.

02-08-2024 (2025) TaxCorp(CL) 30442 (GUJARAT)

Court Permits Liquidation and Dissolution of Tirupati Foundry Private Limited under Section 481 of Companies Act, 1956 - The Gujarat High Court's ruling regarding M/s. Tirupati Foundry Private Limited not only complies with judicial precedents but also emphasizes the importance of following due process in corporate liquidations under the Companies Act, 1956. This decision illustrates that stakeholders should ensure timely and proper record-keeping and administrative practices throughout the liquidation process to facilitate a seamless transition to dissolution. Companies contemplating liquidation are advised to engage competent professionals early in the process to ensure compliance and expedite proceedings.

13-12-2024 (2025) TaxCorp(CL) 30441 (NCLT)

Legal Heirs Granted Standing in Company Petition Following Shareholder's Death: NCLAT Confirms Maintainability Despite Probate Issues - The NCLAT’s ruling establishes that legal heirs do possess the requisite locus standi to initiate company petitions even in the absence of a probate. The ruling reinforces the idea that consent terms can take precedence in representing interests of heirs, particularly where allegations of mismanagement and oppression could jeopardize the deceased's estate. This revelation supports legal representatives of deceased shareholders in asserting their rights under the Companies Act and underscores the importance of protecting beneficiary interests in corporate governance.

23-12-2024 (2025) TaxCorp(CL) 30440 (NFRA)

Deloitte Found Negligent in Auditing ZEEL, Punitive Measures Enforced by NFRA - The NFRA's findings against Deloitte underscore the critical importance of due diligence in the auditing profession, especially given the higher responsibilities when auditing entities of public interest. Auditors must maintain robust documentation and supportive evidence for their conclusions to uphold the integrity of the profession. Firms should implement stricter internal review processes and training to ensure adherence to auditing standards and statutory requirements in future audits.

18-12-2024 (2025) TaxCorp(CL) 30439 (NCLT)

Sections 241, 242 of the Companies Act, 2013 - NCLT Allahabad Upholds Shareholder Rights in Case of Oppression - The Tribunal's decision underscores the importance of protecting shareholder rights against oppression and mismanagement within a company. The ruling affirms the necessity for companies to adhere strictly to legal norms and procedures when it comes to shareholder rights and the process associated with directorship. This decision serves as a call to action for minority shareholders who may be facing similar oppression, encouraging them to seek legal remedies promptly under Sections 241 and 242 of the Companies Act, 2013.

02-08-2024 (2025) TaxCorp(CL) 30438 (GUJARAT)

Section 302 of the Companies Act, 2013 - Gujarat High Court Approves Dissolution of Liquidated Company Due to Absence of Assets - The Gujarat High Court's decision to dissolve the liquidated company is a reaffirmation that, when a company no longer possesses assets, it is not merely reasonable but necessary to bring an end to the liquidation process and discharge the Official Liquidator from their role. This ruling is actionable as it underscores the necessity for companies undergoing liquidation to provide transparent accounting of their assets at the earliest, facilitating timely resolutions. Companies should proactively assess their asset status, as the absence of assets can culminate in an expedited dissolution process that limits financial and administrative burdens.

16-01-2025 (2025) TaxCorp(CL) 30437 (NCLT)

Claims Related to Delayed Possession Deemed Not Admissible by NCLAT: CMA Clarifies Jurisdictional Limitations - The findings from the NCLAT firmly establish the limits of the CMA’s jurisdiction, emphasizing the requisite adherence to contractual obligations when assessing claims related to possession delays. Stakeholders should note that claims for damages must be grounded in explicit contractual terms or provisions to avoid being deemed as unliquidated damages, which are non-admissible in the context of this case.

07-01-2025 (2025) TaxCorp(CL) 30436 (NCLT)

Schemes of Amalgamation Approved Despite Regulatory Scrutiny: Tribunal's Decision Prioritizes Shareholder Interests Over Technical Objections - The National Company Law Tribunal (NCLT) in Chandigarh erred in its decision to interfere with the proposed scheme disregarding the commercial judgments made by shareholders, creditors, and affecting corporate governance. In line with the findings, the Tribunal granted the approval for the amalgamation scheme, underscoring the necessity of respecting shareholder prerogatives while also ensuring regulatory requirements are met.

06-01-2025 (2025) TaxCorp(CL) 30435 (NCLT)

Company’s Right to Reduce Share Capital Confirmed by NCLAT: No Objections from Creditors or Authorities - In light of the NCLAT's ruling, the earlier impugned order has been set aside. This ruling emphasizes that a company possesses the autonomy to reduce its share capital under the specified conditions in the Companies Act, provided that all necessary procedures are strictly adhered to and there are no outstanding objections from creditors or regulatory authorities. Companies intending to reduce their share capital must ensure they garner unanimous consent from shareholders and meticulously address any potential concerns from involved stakeholders.

13-12-2024 (2025) TaxCorp(CL) 30434 (NCLT)

Section 241 of the Companies Act, 2013 - Legal Crux of Opposition and Mismanagement Claim in Corporate Shareholding Dispute - The ruling of the NCLT reinforces the legal principle that a deceased member’s estate can adequately pursue remedies against oppression and mismanagement, acknowledging the legal representatives’ right to act in the interests of the estate of the deceased. It establishes a clear pathway for the continued assertion of rights by legal heirs when confronting actions that adversely affect their interests in a company.

08-01-2025 (2025) TaxCorp(CL) 30433 (DELHI)

Delhi High Court Ruling: Appeal on Equity Share Transfer Declared Inadmissible - In light of the current decision, it is critical for stakeholders engaged in share transactions to ensure that all relevant directives and orders, especially those from regulatory bodies like the RBI, are known and considered prior to executing such transactions. Compliance with existing legal frameworks, and ensuring transparency in the acquisition process, are paramount to safeguard against potential disputes regarding ownership and maintenance of transactions in corporate liquidation scenarios.

03-02-2025 (2025) TaxCorp(IDT) 135518 (CESTAT-NEW DELHI)

CESTAT Upholds Denial of SAD Exemption Due to Non-Disclosure in VAT Returns on Rs. 73.79 Crores Imports - The CESTAT's ruling underscores the importance of strict adherence to the conditions outlined in Notification No. 21/2012-Customs. The decision illustrates that importers must be diligent in their disclosure obligations, particularly regarding VAT registrations and destination declarations, or risk substantial financial liabilities through denied exemptions and penalties.

31-01-2025 (2025) TaxCorp(IDT) 135517 (SC)

Legal Battle Over Classification of Joss Powder Ends in CESTAT Ruling - The CESTAT's judgement highlights the necessity for the Customs Department to base any classification changes on robust and credible evidence as outlined in Section 2 of the Customs Tariff Act. Stakeholders in similar import scenarios must ensure that they are equipped with comprehensive documentation and expert testimonies that can effectively counter any reclassification attempts by customs authorities. This judgement serves as a reminder for importers to scrutinize the classification of their products meticulously and to prepare defensible positions should disputes arise.

07-02-2025 (2025) TaxCorp(IDT) 135516 (SC)

Supreme Court Denies Condonation of Delay in Appeal for Drawback Claims Due to Inadequate Explanation and Evidence - This ruling serves as a stringent reminder of the importance of providing timely and adequate explanations when seeking the condonation of delays in appeals. It is essential for assessees to ensure comprehensive evidence and documentation, particularly with respect to regulatory compliance and procedural fairness, to not only safeguard their claims but also prevent dismissal on grounds of mere technicalities.

07-02-2025 (2025) TaxCorp(IDT) 135515 (HC-BOMBAY)

Bombay High Court Deems SCN Issued by DGFT Unreasonable and Covered by Res Judicata in Essar's Case - The court's decision reaffirmed the principles of legal certainty and the prohibition against relitigating resolved matters. The judgement serves as a critical reminder for the authorities to adhere strictly to established legal precedents before initiating proceedings that potentially undermine judicial resolutions. Stakeholders in foreign trade must ensure compliance and maintain robust records as a proactive measure to withstand scrutiny.

06-02-2025 (2025) TaxCorp(IDT) 135514 (HC-DELHI)

Violation of Natural Justice Leads to Release of Detained Goods Under Customs Act, 1962 - The Delhi High Court ruled that the detained goods must be released to the Petitioner due to a significant breach of natural justice and procedural irregularities related to the issuance of a Show Cause Notice. Going forward, it is imperative for parties involved in customs-related transactions to engage in tax planning that ensures compliance with procedural guidelines laid out in the Customs Act. This involves maintaining a rigorous framework for notifications and communications to safeguard their rights effectively.

31-01-2025 (2025) TaxCorp(IDT) 135513 (HC-MADRAS)

Legal Ruling on Seized Gold Ornaments: Madras High Court Addresses Principles of Natural Justice and Ultra Vires Implications of Baggage Rules - The Madras High Court's ruling emphatically illustrates the necessity of adhering to principles of natural justice and the limitations imposed on rule-making authorities. In light of the judgment, it is essential for customs and related authorities to ensure rigorous compliance with procedural safeguards stipulated under the Customs Act, 1962.

11-02-2025 (2025) TaxCorp(IDT) 135512 (CESTAT-NEW DELHI)

CESTAT Ruling on Valuation of Excise Duty Excludes Notional Cost of Designs and Drawings as Additional Consideration - Based on the above decision, it is critical for manufacturers and assessees to thoroughly assess any potential considerations in their transactions, particularly regarding costs associated with external designs and specifications. Firms must ensure that any input they receive does not inadvertently qualify as additional consideration unless explicitly outlined in contractual agreements. Companies engaging in similar scenarios should take proactive measures to document transactions and agreements meticulously to defend against potential claims by tax authorities.

11-02-2025 (2025) TaxCorp(IDT) 135511 (CESTAT-KOLKATA)

Legal Crux of CESTAT Kolkata Ruling on Clandestine Production and Undervaluation of Sponge Iron - This decision reinforces the judicial stance that demands based solely on theoretical constructs without concrete corroborative support are unsustainable. The dismissal of claims related to clandestine manufacturing and the infringement of time limitations emphasize the need for rigorous evidence gathering by tax authorities. Stakeholders are reminded that robust financial documentation and operational transparency are imperative to defend against allegations of clandestine operations.

11-02-2025 (2025) TaxCorp(IDT) 135510 (CESTAT-NEW DELHI)

Extended Limitation Period for CENVAT Credit Claims Challenged: CESTAT New Delhi Rules in Favor of Assessee - In light of the decision rendered by the CESTAT, it is clear that assessing officers must undertake adequate reviews of returns filed. The lack of action on their part does not give rise to assumptions of wrongdoing by the assessee. Hence, it is actionable for assessees to maintain thorough documentation supporting their claims and to adopt a proactive approach in addressing compliance recommendations made during audits, ensuring future audits do not detrimentally alter their standing with tax authorities.

11-02-2025 (2025) TaxCorp(IDT) 135509 (CESTAT-KOLKATA)

CESTAT Kolkata Judgment Highlights Insufficient Evidence in Clandestine Removal Case Relating to Excess Electricity Consumption - The CESTAT Kolkata ruling underscores the importance of solid evidentiary backing in addressing charges of clandestine operations in manufacturing. This tribunal decision not only annulled the Revenue’s allegations based on the lack of substantiated claims but reinforced the necessity for a balanced evaluation of both quantitative and qualitative evidence in tax-related disputes. Consequently, affected parties should meticulously document operational processes and maintain thorough records of production inputs and outputs to defend against similar allegations effectively.

11-02-2025 (2025) TaxCorp(IDT) 135508 (CESTAT-MUMBAI)

CENVAT Credit Eligibility Affirmed: Appellant's Duty Paid Input Justified in CESTAT Ruling - In light of the current adjudication, it is clear that manufacturers must ensure stringent verification of their input supplies to establish their eligibility for CENVAT credit claims. The appellant's proactive steps have provided them with a favorable ruling, affirming that they took the necessary care to confirm that the inputs received were duly noted in terms of central excise duty payments.

06-02-2025 (2025) TaxCorp(IDT) 135507 (SC)

Legal Developments in Central Excise: Supreme Court Addresses Delay in Filing SLP and Principles of Unjust Enrichment in Zarda Scented Tobacco Case - The Supreme Court's ruling reinforces the significant jurisprudential principles surrounding the concepts of Unjust Enrichment within the framework of the Central Excise Act. Taxpayers contesting duty payments must be cognizant of these principles and demonstrate non-transference of the duty burden when seeking refunds. The Court's stance on the delay in filing SLP emphasizes the necessity for timely legal action, further paving the way for more strict adherence to procedural timelines.

06-02-2025 (2025) TaxCorp(IDT) 135506 (CESTAT-NEW DELHI)

CENVAT Credit Reversal Not Entitled to Interest on Refund Due to Lack of Protest - The decision by CESTAT clearly delineates the boundaries of entitlement to interest on refunds of CENVAT credit. In the absence of documented protests at the time of reversal, amounts treated as appropriated duty cannot incur interest even when refunded within the statutory timeframe. Therefore, it is crucial for assessees to formally protest reversals to preserve their rights to interest claims.

05-02-2025 (2025) TaxCorp(IDT) 135505 (CESTAT-AHMEDABAD)

CESTAT Rules on Penalties Against Co-Noticees in Light of Main Party's Settlement under SVLDR Scheme, 2019 - The ruling from CESTAT Ahmedabad establishes a vital precedent whereby penalties on co-noticees can be annulled if the principal party successfully settles their case under the SVLDR Scheme, 2019. This presents an actionable pathway for taxpayers and legal advisors to navigate similar disputes effectively. It is prudent for tax professionals to leverage this decision when advising clients involved in related tax compliance challenges, ensuring they are informed of their rights under the prevailing tax resolution frameworks.

04-02-2025 (2025) TaxCorp(IDT) 135504 (CESTAT-NEW DELHI)

Legal Crux of CENVAT Credit Dispute Resolved by CESTAT New Delhi - The judgment reiterates that minor discrepancies in documentation should not independently lead to accusations of willful suppression with the intent to evade duties. Entities must ensure compliance through prompt filing of returns, particularly under periods of scrutiny. For the appellant, there lies an immediate requirement to reverse ineligible CENVAT credit between April 2015 to March 2017 while addressing the concerns for the non-filing period corresponding to April – June 2017.

30-01-2025 (2025) TaxCorp(IDT) 135503 (CESTAT-CHANDIGARH)

The CESTAT Upholds Previous Ruling on Gas Treatment Process Not Constituting Manufacture - The ruling effectively reaffirms that the processes engaged in by the appellant concerning gas preparation do not meet the criteria for manufacturing under the Central Excise Tariff Act. It is essential for assessees engaged in similar gas treatment processes to recognize that enhancements for purity or quality do not necessarily render their operations taxable as manufacturing activities.

31-01-2025 (2025) TaxCorp(IDT) 135502 (CESTAT-ALLAHABAD)

CESTAT Ruling Clarifies Cenvat Credit Eligibility for Call Centre Services, Set Aside Demand and Penalties - This ruling significantly contributes to taxation clarity, emphasizing the admissibility of Cenvat credit for services related to sales promotion and brand enhancement, asserting that such expenses directly correlate with manufacturing activities. The findings not only negate the demand for credit but also dismiss associated penalties and interest, highlighting the importance of clear communications between tax authorities and assessees.

23-01-2025 (2025) TaxCorp(IDT) 135501 (HC-GUJARAT)

High Court Ruling Highlights Strict Limitations on Rectification Applications under Central Excise Act - The paramount takeaway from the Gujarat High Court's decision is that adherence to statutory time limits set by the legislature is non-negotiable. The court's ruling reinforced that the Tribunal has no jurisdiction to extend the six-month window for rectification applications under Section 35C(2). Therefore, parties must ensure timely filing of any applications to avoid automatic rejections.

07-02-2025 (2025) TaxCorp(IDT) 135500 (CESTAT-CHANDIGARH)

Central Excise Duty Decision: CESTAT Clarifies Tax Inclusion and Limitation Period in Recent Ruling - In light of the decision rendered by the CESTAT, it is imperative for stakeholders within the excise duty domain, especially those utilizing state incentives such as deferment schemes, to ensure accurate representation of retained sales tax/VAT in their transaction values. Approaching compliance with an understanding of the established precedents will be crucial, particularly concerning the inclusion of retained taxes in assessable values. Furthermore, given the clarified stance on the invocation of the extended limitation period, businesses should exercise due diligence to maintain transparency in their reporting to avoid unnecessary legal challenges.

07-02-2025 (2025) TaxCorp(IDT) 135499 (CESTAT-NEW DELHI)

CESTAT Rules Against Extended Limitation in Mega Power Project Exemption Case, Citing Lack of Evidence for Willful Misstatement - The CESTAT's ruling decisively establishes that the invocation of the extended period of limitation lacks merit unless substantiated by concrete evidence of willful misrepresentation or fraudulent activity. This case reinforces the importance of rigorous compliance with evidentiary standards when tax authorities seek to challenge exemptions past the statutory limitation period. Tax practitioners and entities engaged in similar exemptions should maintain meticulous records and documentation to defend against potential claims of extended limitation invocation.

06-02-2025 (2025) TaxCorp(IDT) 135498 (CESTAT-CHENNAI)

Add-on Cards Classified under Chapter 8473, Confirming 20% Central Excise Duty - In light of the Tribunal's ruling, it is essential for manufacturers and importers dealing with Add-on Cards to accurately classify them as per Chapter Heading 8473 to ensure compliance with the applicable duty rate of 20%. Stakeholders should adapt their classification strategies responsibly, ensuring proper documentation and alignment with this existing precedent to avoid potential compliance challenges.

05-02-2025 (2025) TaxCorp(IDT) 135497 (CESTAT-CHANDIGARH)

CESTAT Rules in Favor of Refund Claim for Hydrochloride Drugs - The ruling by CESTAT provides critical affirmations on two counts: First, the interpretation of Notification No. 04/2006-CE is inclusive of hydrochlorides, aligning with legislative intent aimed at promoting health-related pharmaceuticals. Second, the appellant conclusively established that the duty was borne by them and not passed onto customers, thereby meeting the legal test for unjust enrichment. Actionable insights from this decision suggest that businesses in the pharmaceutical domain should ensure comprehensive documentation to validate claims of refund and be vigilant about consistently applying exemptions granted under the legislation.

16-01-2025 (2025) TaxCorp(IDT) 135496 (CESTAT-BANGALORE)

Tax Exemption Affirmed for Goods Supplied to Aeronautical Development Agency: CESTAT Bangalore Decision - The affirmation by CESTAT Bangalore regarding the appellant's eligibility for exemption under Notification No. 10/97-CE emphasizes the importance of adhering to established legal requirements and the documentation process essential for tax exemption claims. Consequently, it is actionable for other entities engaged in similar dealings with exempt institutions to ensure robust compliance with the notification's requirements when aiming for duty exemptions.

29-01-2025 (2025) TaxCorp(IDT) 135495 (HC-PATNA)

Patna High Court Reiterates Natural Justice in Taxation Proceedings - The judgment of the Patna High Court underscores the imperative nature of adherence to the principles of natural justice within administrative proceedings, particularly in the context of taxation. The court's decision to remand the matter elucidates the requirement for authorities to furnish proper notice and ensure that affected parties have an opportunity to respond prior to the issuance of adverse decisions. This case serves as a critical reminder to relevant authorities to exercise diligence and uphold the principles enshrined in the statute when making determinations that affect taxpayers.

27-01-2025 (2025) TaxCorp(IDT) 135494 (HC-ALLAHABAD)

High Court Grants Bail in Currency Smuggling Case Amidst Doubts Over Evidence - The High Court's decision underscores the judicial philosophy that mere confessional statements, particularly in customs enforcement cases under the Customs Act, must be underpinned by solid evidence to warrant a conviction. The balance between upholding law enforcement protocols and protecting individual rights is crucial, and this ruling serves as a reminder that due process must prevail. Given the specifics of this case, it is recommended that legal practitioners review the evidentiary sufficiency before prosecuting offenses that hinge heavily on confessions, ensuring all charges are supported by robust, corroborating evidence.

10-02-2025 (2025) TaxCorp(IDT) 135493 (CESTAT-NEW DELHI)

Copper Scrap Valuation Dispute: CESTAT Upholds Duty Reassessment Without Evidence of Invoice Fabrication - The CESTAT's decision accentuates that customs officials hold the authority to reject declared transaction values when reasonable doubts arise regarding their integrity. This ruling emphasizes the importance of proper classification in valuation matters and sets a precedent that reasonable doubt concerning accuracy suffices to invoke rejection under rule provisions. Importers must ensure transparent valuation practices and prepare for substantiated explanations regarding their declared values to prevent adverse assessments.

03-02-2025 (2025) TaxCorp(IDT) 135492 (CESTAT-NEW DELHI)

Customs Classification: CESTAT Rules Aircraft Engine Stand Falls Under Different Tariff Item - In conclusion, the aircraft engine stand imported by the appellant is correctly classified under CTI 8609 00 00, reflecting its primary functionalities and adhering to legal precedents. The ruling not only establishes clear guidelines for the classification of similar items but also encourages importers to meticulously understand the specifications and functionalities of their products to ensure compliance with customs classifications. Immediate actions should be taken by affected parties to review their classifications to prevent disputes similar to the one adjudicated.

04-02-2025 (2025) TaxCorp(IDT) 135491 (HC-DELHI)

Delhi High Court Affirms Right to Cross-Examine Witnesses in Customs Penalty Cases - In light of the ruling by the Delhi High Court, it is imperative for customs authorities to strictly observe the principles of natural justice, especially the rights of the parties involved to cross-examine witnesses whose statements are critical to the impugned orders. Moving forward, the decision mandates such opportunities to be clearly defined and executed without undue delay, ensuring that all administrative proceedings conform to established legal standards.

31-01-2025 (2025) TaxCorp(IDT) 135490 (HC-MADRAS)

Madras High Court Declares Seizure of Gold Ornaments Improper, Citing Violations of Customs Act and Natural Justice Principles - The Madras High Court's ruling establishes a crucial precedent regarding the application of Baggage Rules vis-a-vis the Customs Act. The law clearly delineates the rights of passengers to carry their personal jewelry without the imposition of unfair and arbitrary restrictions. Legal practitioners and customs officials alike must now be mindful of the need to adhere strictly to statutory provisions, ensuring proper opportunities for hearings and adequate notice prior to any confiscation actions. Moving forward, officials must recognize the supremacy of the Customs Act over any rules that improperly extend their enforcement jurisdiction.

29-01-2025 (2025) TaxCorp(IDT) 135489 (CESTAT-NEW DELHI)

Legal Crux of Recent CESTAT Decision: Amendment Notification Lacks Retrospective Effect - The CESTAT's ruling confirms that the Amendment Notification No. 36/2021-Customs cannot be interpreted as having retrospective effect. This pivotal determination clarifies the legal landscape regarding the effectuation of recent customs amendments, thus providing instructive guidance for similar cases in the future. The findings negate any reliance on interpretations that were based solely on CBIC circulars which do not carry the weight of statutory provisions.

Direct Tax

12-02-2025 NOTIFICATION NO. 16/2025

Exemption from specified income U/s 10(46A) of IT Act 1961 – Real Estate Regulatory Authority, Punjab

10-02-2025 NOTIFICATION NO. 15/2025

Central Government approves ‘Bhaikaka University’ Anand, Gujarat for ‘Scientific Research’ under the category of ‘University, college or other institution’ for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961

07-02-2025 NOTIFICATION NO. 13/2025

Income-tax (Third Amendment) Rules, 2025

07-02-2025 NOTIFICATION NO. 14/2025

Income-tax (Fourth Amendment) Rules, 2025.

01-02-2025 Order-Instruction No. FAQ

Personal Income-tax reforms with special focus on middle class - FAQ

GST

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

31-01-2025 CORRIGENDA No. F. No. 190354/2/2025-TO (TRU-II) - G.S.R. 90(E)

Corrigendum - Notification No. 05/2025-Integrated Tax (Rate), dated the 16th January, 2025

30-01-2025 Circular No. 246/03/2025-GST

Clarification on applicability of late fee for delay in furnishing of FORM GSTR-9C

Corp Law

12-02-2025 NOTIFICATION No. G.S.R. 131(E)

Companies (Prospectus and Allotment of Securities) Amendment Rules, 2025

12-02-2025 Circular No. SEBI/HO/IMD/IMD-SEC-3/P/CIR/2025/15

Service platform for investors to trace inactive and unclaimed Mutual Fund folios- MITRA (Mutual Fund Investment Tracing and Retrieval Assistant)

11-02-2025 Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/14

Facilitation to SEBI registered Stock Brokers to access Negotiated Dealing System-Order Matching (NDS-OM) for trading in Government Securities- Separate Business Units (SBU)

10-02-2025 NOTIFICATION No. SEBI/LAD-NRO/GN/2025/228

Securities and Exchange Board of India (Investor Charter) (Amendment) Regulations, 2025.

06-02-2025 NOTIFICATION No. SEBI/LAD-NRO/GN/2025/227

Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2025

IDT

12-02-2025 DGFT - Public Notice No. 48/2024-25

Procedure for Allocation of Quantities for import of Calcined Petroleum Coke for Aluminium Industry and Raw Petroleum Coke for CPC manufacturing industry, for the Financial Year 2025-26

12-02-2025 DGFT - Trade Notice No. 30/2024-2025

Procedure for filing application for allocation of Tariff Rate Quota (TRQ) of Gold Bullion under India-UAE CEPA for FY 2025-26

11-02-2025 DGFT - Trade Notice No. 28/2024-25

Seeking details of manually issued Certificates of Origin in contravention of DGFT guidelines

11-02-2025 DGFT - Trade Notice No. 29/ 2024-25

Mandatory online submission and online payments against Show Cause Notices and other proceedings under provisions of the FTD & R Act

10-02-2025 FTP - Notification No. 59/2024-25

Amendment in Export Policy of Raw Human Hair

07-02-2025 DGFT - Public Notice No. 47/2024-25

Amendments in conditions of the Standard Input Output Norms (SION) at E-136 for export of Wheat Flour

07-02-2025 NOTIFICATION NO. 09/2025 - Customs (N.T.)

Seeks to amend Notification No. 61/94-Customs (N.T.) dated the 21st November, 1994

07-02-2025 FTP - Notification No. 58/2024-25

Amendment in Import Policy condition no. 1(III) under Chapter 87 of ITC (HS), 2022, Schedule —I (Import Policy)

07-02-2025 SEZ - NOTIFICATION No. S.O. 688 (E)

The Central Government has granted approval for the amalgamation of Special Economic Zones into one Multi-Sector Special Economic Zone, spanning 246.333 hectares. The zone is being developed by M/s. Mahindra World City Developers Limited and is situated in Chenglepet Taluk, Kancheepuram District, Tamil Nadu.

06-02-2025 DGFT - Public Notice No. 46/2024-25

Amendments in Standard Input Output Norms (SION) A-222 for export of Erythromycin Stearate Tablet

Budget 2025

Finance Bill, 2025: Complete Coverage

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