Madras High Court allowed revival of cancelled GST registration in line with Suguna Cut Piece Centre ruling, directing compliance-based restoration.
CESTAT Chandigarh ruled that Punjab Cricket Association was not liable for service tax on a tournament subsidy received from Procam International. The Tribunal held the payment related to sponsorship services, where tax liability rests with the recipient. The service tax demand was set aside.
Section 56(2)(viib) taxes excess share premium received by closely held companies over fair market value, except in cases of eligible start-ups and specific venture capital investments. Not applicable from AY 2025-26.
NCLT Delhi admitted R.J. Packwells Pvt. Ltd.’s application under Section 9 of the IBC against Maurya Printers for ₹2.20 crore default, declaring moratorium and appointing an IRP.
The Jammu and Kashmir High Court set aside ITAT and CIT(A) orders denying J&K Bank refund interest over disputed TDS certificates, terming the finding perverse and remanding the case.
CESTAT Kolkata upheld redemption fines on A.K. Jain Sales & Marketing for importing yogurt-flavoured milk drinks through Changrabandha, a non-authorized livestock import port.
ITAT Mumbai held that the Assessing Officer made detailed enquiries before allowing ESOP expenditure, invalidating the PCIT’s revision under section 263.
The Court restrained recovery of VAT interest from United Spirits, observing uncertainty on whether Extra Neutral Alcohol falls under VAT or new tax regime.
