elying on Supreme Court precedent, the Court upheld ITAT’s finding that reopening based on reappraisal of existing records is invalid. The Revenue’s appeal was dismissed.
The High Court set aside an ex parte GST order after finding lack of proper service and denial of hearing. It held that mandatory opportunity under Section 75 must be granted before adverse determination.
The Court held that CBIC Master Circulars require mandatory pre-consultation before issuing high-value excise/service tax demands, even where extended limitation for alleged fraud is invoked. Notices issued without compliance were quashed.
The Court held that Section 73 does not prohibit issuance of multiple show cause notices for the same tax period when they address different discrepancies. Only overlapping demands on identical facts are impermissible.
Section 74A introduces a single GST demand provision for fraud and non-fraud cases from FY 2024-25 onwards. Authorities can no longer issue notices under Sections 73 or 74 for these periods.
The introduction of GST transformed India’s fiscal federalism by centralizing indirect taxation under a unified framework. While promoting cooperative decision-making through the GST Council, it reduced states’ independent taxing powers.
The government introduces unified safe harbours, faster APAs, and reduced litigation burdens to enhance certainty for multinational enterprises.
Even under the new tax regime, employer contributions to NPS remain deductible under Section 80CCD(2). This reduces taxable income and helps build long-term retirement savings.
Budget 2026 introduces a six-month window to regularise undisclosed foreign assets with reduced penalties and immunity under the Black Money Act.
The ITAT Bangalore held that penalty under Section 270A for alleged underreporting and misreporting of income could not survive once the Karnataka High Court condoned the delay in filing the return and restored the assessee’s eligibility for deduction under Section 80IA.
