The note highlights gaps in existing tax provisions affecting families, seniors, and small investors. It suggests targeted reforms to make tax outcomes more balanced and predictable.
Clarifies that constitutional court judgments declare the law retrospectively by default. Holds that tax authorities cannot treat such rulings as merely prospective.
The issue was whether final assessment orders passed after DRP directions were barred by limitation under section 144C read with section 153. The Tribunal held that such orders passed beyond the statutory time limit are without jurisdiction and must be quashed.
The Tribunal examined suspicion surrounding a large cash advance for property. It ruled that suspicion alone cannot replace evidence, and once the transaction is substantiated, section 68 addition must be deleted.
The Tribunal held that a final assessment passed without giving effect to binding DRP directions violates section 144C. Such an order is void ab initio and cannot be sustained once the statutory time limit has expired.
It was ruled that the date of recording the satisfaction note is the deemed search date for a non-searched person. The ten-year limitation must be counted from this date, not from the original search.
The Tribunal deleted both substantive and protective additions made across multiple years on the same alleged receipts. It held that such duplication results in impermissible multiple taxation of identical amounts.
Vedanta Ltd. Vs Commissioner of Customs (CESTAT Chennai) CESTAT Chennai Reiterates: Once DGFT Issues EODC, Customs Cannot Deny Advance Authorization Benefits Vedanta Ltd. vs. Commissioner of Customs, Tuticorin [2026-VIL-158-CESTAT-CHE-CU] The Chennai Bench of the CESTAT has delivered a significant ruling wherein it was held that Customs authorities cannot question or deny duty exemption benefits once DGFT […]
Explains how the 2025 amendment removes going-concern sales from liquidation. Highlights the shift toward speed and finality over revival.
Explains the shift from transaction value to MRP-based valuation under Rule 31D. Highlights how GST will now be calculated on printed retail price.
