Tax & Legal Articles
Expert analysis and insights on Indian taxation and corporate law
Income Tax
Cessation of Liability Cannot Rest on Statistical Estimation: ITAT Delhi Strikes Down ₹5 Crore Addition Based on Sample Inquiry Under Section 41(1)
Summary The ITAT Delhi's ruling in Blaze Manufacturing Co Vs DCIT for AY 2014-15 comprehensively rejects the practice of making ad-hoc additions under Section 41(1) based on sample inquiries and perce...
Featured Stories
GST
GST on Mining Royalty: AAR Maharashtra Clarifies 18% Tax Rate on Licensing Services for Mineral Extraction Rights
Feb 8, 2026
Corporate Law
DRAT Delhi Restores Appeal After Pre-Deposit Compliance: Madhya Pradesh Power Transmission Case Analysis
Feb 8, 2026
Company Law
ROC Kanpur imposes penalty for not disclosing audit qualification on Nidhi term deposit shortfall
Feb 8, 2026
Customs
Customs Classification of Aluminium Layered Oil Coolers as Plate-Type Heat Exchangers under Heading 8419.50.92
Feb 8, 2026
Latest Updates
RBI overhauls Voluntary Retention Route to align with General Route debt limits and improve FPI exit flexibility
TP Adjustment Quashed: Controlled Transaction Cannot Serve as ALP Benchmark for Another Controlled Transaction – ITAT Delhi Rules in Honda Trading Case
NCLAT Rejects Successive Section 94 Petitions Filed to Evade SARFAESI Recovery Actions Through IBC Moratorium
ITAT Delhi Removes Section 69A Addition: Cash Deposits Validated Through Documented Withdrawals and Opening Balance
Suspended Director Cannot Challenge Bank's Insolvency Claim After Self-Initiating CIRP on Same Debt: NCLAT Delhi Rules
Eligibility of Input Tax Credit on Fuel Charges in Fleet Management Contracts: Analysis of AAR Chhattisgarh Ruling
Income Tax
Feb 8
Cessation of Liability Cannot Rest on Statistical Estimation: ITAT Delhi Strikes Down ₹5 Crore Addition Based on Sample Inquiry Under Section 41(1)
Summary The ITAT Delhi's ruling in Blaze Manufacturing Co Vs DCIT for AY 2014-15 comprehensively rej...
GST
Feb 8
GST on Mining Royalty: AAR Maharashtra Clarifies 18% Tax Rate on Licensing Services for Mineral Extraction Rights
Summary The Maharashtra AAR's ruling in the matter of Ramandeep Upkarsingh Bindra (Black Rock Crushe...
Income Tax
Feb 8
TP Adjustment Quashed: Controlled Transaction Cannot Serve as ALP Benchmark for Another Controlled Transaction – ITAT Delhi Rules in Honda Trading Case
Summary The ITAT Delhi's decision in Honda Trading Corporation India Pvt. Ltd represents a landmark ...
Insolvency
Feb 8
NCLAT Rejects Successive Section 94 Petitions Filed to Evade SARFAESI Recovery Actions Through IBC Moratorium
Summary The NCLAT Delhi judgment in Manoj Aggarwal Vs Karnataka Bank Limited delivers a strong messa...
Income Tax
Feb 8
ITAT Delhi Removes Section 69A Addition: Cash Deposits Validated Through Documented Withdrawals and Opening Balance
Summary The ITAT Delhi's decision in Ashok Kumar Mehrotra Vs ITO represents an important affirmation...
Insolvency
Feb 8
Suspended Director Cannot Challenge Bank's Insolvency Claim After Self-Initiating CIRP on Same Debt: NCLAT Delhi Rules
Summary The National Company Law Appellate Tribunal's judgment in Rakeshkumar Hariram Agarwal Vs Sta...
GST
Feb 8
Eligibility of Input Tax Credit on Fuel Charges in Fleet Management Contracts: Analysis of AAR Chhattisgarh Ruling
Summary The Authority for Advance Ruling, Chhattisgarh, in In re Vision Plus Security Control Limite...
Income Tax
Feb 8
CBDT Releases Draft Income-tax Rules, 2026 for Stakeholder Feedback: Key Simplifications and Form Reductions Unveiled
Summary The release of Draft Income-tax Rules, 2026 by the Central Board of Direct Taxes represents ...
GST
Feb 8
Bombay High Court Sets Aside GST Demand Notice Consolidating Multiple Financial Years Under Section 74 CGST Act
Summary The Bombay High Court's judgment in Rite Water Solutions (India) Ltd. Vs Joint Commissioner ...
Income Tax
Feb 8
Mechanical Approval Under Section 151 Invalidates Reassessment: ITAT Delhi Quashes Section 147 Proceedings for Want of Conscious Application of Mind
Summary The ITAT Delhi's decision in Krishan Kumar Bansal (Legal Heir) establishes beyond doubt that...
Income Tax
Feb 8
Delhi High Court Upholds Tribunal's Ruling: Swift Loan Settlement Does Not Automatically Establish Bogus Transaction
Summary The Delhi High Court's judgment in PCIT Vs Sperry Plast Ltd. delivers crucial guidance on as...
Income Tax
Feb 8
Understanding Section 54EC of Income Tax Act 1961: Complete Analysis of Capital Gains Exemption through Bond Investments
Summary `Section 54EC` represents a sophisticated intersection of taxation policy, infrastructure fi...
Corporate Law
Feb 8
DRAT Delhi Restores Appeal After Pre-Deposit Compliance: Madhya Pradesh Power Transmission Case Analysis
Summary The decision of the Debt Recovery Appellate Tribunal, Delhi in Madhya Pradesh Power Transmis...
Income Tax
Feb 8
Union Budget 2026-27: Balancing Economic Expansion with Fiscal Discipline
Summary The Union Budget 2026-27 presents a pragmatic framework that seeks to harmonize fiscal conso...
Income Tax
Feb 8
Understanding Tax Implications for High-Earning Professionals: A Critical Analysis of Income Tax Regime Options
Summary The alternative taxation regime established under `Section 115BAC` of the Income-tax Act, 19...
GST
Feb 8
Maharashtra AAR Permits Voluntary Withdrawal of GST Advance Ruling Application on Housing Project Tax Rate and Classification
Summary The Authority of Advance Ruling, Maharashtra disposed of an advance ruling application filed...
Income Tax
Feb 8
ITAT Ahmedabad Quashes Appeal Dismissal Based on Procedural Error, Directs Fresh Adjudication on Merits
Summary The decision of the ITAT Ahmedabad in Jayshree Narendra Amin Vs ITO serves as a crucial remi...
GST
Feb 8
AAR Rajasthan declines GST ruling on ITC for completed foundation works of lyophilized injectables plant
Summary The case concerning M/s CPL Pharmaceuticals Private Limited before the AAR Rajasthan revol...
Income Tax
Feb 8
ITAT Delhi clarifies limited scope of scrutiny at Section 12AB registration stage for charitable trusts
Summary The decision in Seth PannaLal Charitable Trust Vs CIT (Exemptions) reinforces that registrat...
GST
Feb 8
GST classification of Masala Paan (Meetha Paan): AAR Maharashtra holds 18% under HSN 2106 9099, not composite supply
Summary
The Maharashtra Authority for Advance Ruling held that Masala Paan (Meetha Paan) is not a...
GST
Feb 8
Prospective GST relief on DMF-linked mining royalty; NMET levy upheld by AAAR Telangana
Summary
The Telangana Appellate Authority for Advance Ruling, in In re Singareni Colleries Compan...
Income Tax
Feb 8
ITAT Delhi Rules on Section 115BBE Applicability and Quantum Relief in Best Judgment Assessments for Transporters
Summary The ITAT Delhi, in the case of TUFEL Vs ITO, provided significant relief to a small transpor...
Insolvency
Feb 8
Personal guarantors cannot escape insolvency under cover of CIRP moratorium or Section 10A: NCLAT Delhi
Summary NCLAT Delhi has reaffirmed a critical aspect of the IBC framework: personal guarantors remai...
Income Tax
Feb 8
RBI Monetary Policy February 2026: Interest Rate Pause, Growth Outlook and Major Regulatory Moves
Summary The February 2026 monetary policy of the Reserve Bank of India maintains continuity on the i...
Income Tax
Feb 8
Comprehensive Guide to Section 87A Rebate and LTCG Taxation under Section 112A for FY 2025-26
Summary For the Financial Year 2025-26, the New Tax Regime offers a nuanced structure for handling L...
GST
Feb 8
Rajasthan High Court Refuses Bail in Major GST Evasion Case Citing Strong Digital Evidence
Summary The Rajasthan High Court, dealing with two connected bail applications in a major `GST` evas...
GST
Feb 8
GST on Employer-Provided Canteen Facilities: Key Takeaways from In re KSB Limited (AAR Maharashtra)
Summary
The AAR Maharashtra in In re KSB Limited has clarified that employer-arranged canteen ser...
Company Law
Feb 8
ROC Kanpur imposes penalty for not disclosing audit qualification on Nidhi term deposit shortfall
Summary
ROC Kanpur has imposed penalties aggregating ₹3,00,000 on PRANAM INDIA NIDHI LIMITED and ...
Income Tax
Feb 8
Taxation of Virtual Digital Assets in India: A Comprehensive Analysis of Section 115BBH, Section 194S, and the Evolving Regulatory Framework
Summary India's taxation of cryptocurrency has evolved from a regulatory grey area to a rigid, speci...
Income Tax
Feb 8
Judicial Analysis: Applicability of Section 50C Deeming Fiction on Depreciable Assets and Section 80G Deduction for CSR Expenses
Summary The ITAT Mumbai, in the case of Jewelex India Private Limited Vs DCIT, delivered a ruling fa...
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