The High Court quashed reassessment proceedings initiated after the company had already been liquidated by NCLT, holding such action legally unsustainable.
The High Court’s leadership change marks a milestone for women in the judiciary. The appointment reflects institutional commitment to inclusivity and constitutional values.
The High Court held that exemption under Section 11 cannot be denied merely because Form 10 was filed belatedly. The key takeaway is that substantive tax benefits for charitable trusts prevail over procedural lapses.
The High Court ruled that GST demands cannot be determined against a deceased proprietor. Authorities must issue show cause notices to legal heirs before fixing liability, failing which proceedings are void.
The issue was whether a reassessment notice issued after 31.03.2021 for AY 2014-15 was within limitation. ITAT held the notice time-barred in light of the Supreme Court’s Rajeev Bansal ruling and quashed the entire reassessment.
Authorised dealer banks must follow the 2026 regulations for all cross-border guarantees. The circular ensures uniform compliance and updated reporting practices.
Net direct tax collections recorded an 8.82% increase despite moderate gross growth. Lower refunds played a key role in boosting net revenues.
The tribunal remanded the matter after the respondent admitted incorrect figures were submitted earlier, directing reinvestigation so that profiteering is recalculated on correct data.
The tribunal held that failure to reduce ticket prices after a GST rate cut amounted to profiteering and upheld recovery of the excess amount. The ruling clarifies that tax benefits must be passed on through commensurate price reduction.
The High Court suspended the jail sentence in a tax offence case during pendency of revision. The key takeaway is that substantial grounds in revision justify interim relief.
