Tax & Legal Articles

A Detailed Project Report in 2026 is not simply a bureaucratic requirement for MSME and startup loan applications — it is the central document through which banks assess whether a proposed business is genuinely viable, whether the assessee has the ca...

GST has unquestionably transformed India's indirect tax landscape. By replacing a chaotic assemblage of central and state levies with a broadly unified, technology-administered framework, it has eliminated significant economic friction, reduced tax c...

The Calcutta High Court's decision in P. S. Srijan Height Developers Vs ACIT is a significant affirmation of the procedural and substantive protections available to assessees when refunds are sought to be adjusted under `Section 245` of the Income Ta...

The ruling by the ITAT Mumbai in the Skyline Greathills Vs DCIT case serves as a critical judicial safeguard against the arbitrary expansion of appellate powers. By quashing the CIT(A)'s enhancement, the tribunal reinforced the principle that appella...

The Orissa High Court's decision in Fayaj Infratech Private Limited Vs Joint Commissioner (Appeal) represents a significant judicial signal to all GST assessees who had approached High Courts solely on account of GSTAT's non-functionality. The Court ...

AY 2026-27 represents one of the most procedurally intricate filing seasons in recent memory, primarily because it straddles the transition between the Income Tax Act, 1961 and the newly enacted Income Tax Act, 2025. Returns filed in 2026 for income ...

The NCLT Indore, in this matter between the liquidator Mr. Amresh Shukla and the State of Madhya Pradesh, dismissed an application alleging deliberate breach of confidentiality in liquidation proceedings. The Tribunal, while affirming the paramount i...

The Delhi High Court's ruling in Gaurav Aggrawal vs Institute of Chartered Accountants of India delivers an important clarification on the procedural rigor required when convening meetings of the NIRC under the Chartered Accountants Regulations, 1988...

The judicial pronouncement in Shree G. T. Sales Vs DCIT/ACIT-1(1) serves as a vital precedent for resolving TDS credit disputes stemming from automated processing under `Section 143(1)`. By remanding the matter for the physical verification of Form 1...

The Annual Activity Report (AAR) introduced by SEBI in consultation with IVCA represents a comprehensive regulatory reporting tool that requires AIFs to disclose granular information across multiple dimensions — from investor commitments and leverage...

The Division Bench of the Chhattisgarh High Court has definitively ruled that a contractor cannot claim GST reimbursement from the State if the underlying contract explicitly assigns all tax liabilities to the assessee. In the landmark case of State ...

Tax Deducted at Source and Advance Tax constitute the bedrock of India's proactive revenue collection strategy. By intercepting income at its origin and mandating staggered self-assessments, the government ensures a resilient and continuous financial...

The NCLT Mumbai's approval of the Mantra Properties resolution plan in the Amit Vijay Karia Vs Beacon Trusteeship Limited (NCLT Mumbai) case highlights the dynamic mechanisms available within the insolvency framework to resolve deadlocks. By leveragi...

The modern Indian MSME sector is grappling with a severe crisis where accounting profitability is completely detached from operational liquidity. Businesses are collapsing not from a lack of sales, but from an absolute inability to convert those sale...

The ITAT Delhi's ruling in ACIT Vs United Hitech Pvt. Ltd. underscores the necessity for assessing authorities to base high-value disallowances on concrete evidence rather than surface-level presumptions. The tribunal deleted a massive `Section 40A(3...

Canteen facilities in business premises attract different GST consequences depending on statutory obligations, cost-sharing arrangements, and contractual structures. Where `Section 46` of the Factories Act, 1948 mandates canteen provision (i.e., fact...

The decision in ACIT Vs Aamby Valley Ltd. (ITAT Delhi) reinforces several important principles of income-tax law: Only real income is taxable: Notional interest on business advances or imprest balances, absent a contractual right or actual accrual, c...

The National Financial Reporting Authority has released a provisional list of audit firms that have failed to file their mandatory Form NFRA-2 for the 2024-25 reporting period. Governed by `Rule 5` and `Rule 3` of the `NFRA Rules, 2018`, this complia...

The capital vs revenue receipt distinction lies at the core of Indian income tax jurisprudence. While the Income Tax Act 1961 does not define these terms comprehensively, their contours have been shaped through landmark rulings such as `CIT v. Rai Ba...

The present design of ITC under GST, particularly `section 16(2)(c)` read with the 180-day payment condition and `Rule 37A`, effectively converts assessees into involuntary guarantors of their suppliers’ tax compliance. Even where the assessee has do...

The judgment in Avika Steel Mart Vs Union of India reinforces a fundamental procedural safeguard under the GST regime: tax assessments must be strictly segregated by financial year. The Andhra Pradesh High Court has made it abundantly clear that comp...

The post‑election situation in Tamil Nadu showcases the tension between constitutional convention and political expediency in a hung assembly context. TVK, led by Joseph Vijay, has emerged as the largest party with 108 MLAs but short of the 117 neede...

The Gujarat High Court in `Dilipbhai Prabhudas Patel Vs DCIT` has reaffirmed a clear and structured rule for computing the 10-year limitation block in search-based assessments. Under `Section 153A` and Explanation 1, when a search is conducted, the a...

The Delhi High Court’s order in Malikie Innovations Ltd. & Anr. Vs Xiaomi Corporation & Ors. directs Xiaomi entities to provide approximately ₹272 crore as interim security in a dispute concerning alleged use of 3G/4G/5G SEPs without a concluded FRAN...

The Andhra Pradesh High Court in Kameswari Agencies Vs Assistant Commissioner held that the extended time limit under `Section 16(5)` of the GST Act prevails over the general restriction under `Section 16(4)` for ITC pertaining to Financial Years 201...

The omission of `Section 13(8)(b)` of the IGST Act through Section 157 of the Finance Act, 2026, effective from 30 March 2026, is one of the most consequential structural corrections in India's GST framework since its inception. By removing the anoma...

The Pune ITAT's ruling in Jaydev Mahadev Arya Vs ITO provides an important jurisprudential clarification on the treatment of bank deposits made through entities like M/s. Renuka Mata Multi State Urban Co-operative Credit Society Ltd., which have been...

`Section 16(2)(c)` of the CGST Act conditions ITC eligibility on the actual payment of tax by the supplier to the government. While the Gujarat High Court in Maruti Enterprise Through Its Authorised Partner vs Union of India & Ors has upheld this pro...

The Calcutta High Court's dismissal of the civil revisional application in Rajesh Kumar Gupta & Ors. Vs High Rank Estate Advisory Pvt. Ltd. & Anr. is a significant affirmation of the principle that the integrity of debt recovery proceedings must be p...

The Bombay High Court's ruling in B. B. Metal Vs Joint Commissioner of State Tax is a landmark affirmation of the statutory protection afforded to assessees under `Section 6(2)(b)` of the CGST/MGST Act against duplicative GST proceedings. The Court m...