ITAT Mumbai held that rejecting Transactional Net Margin Method (TNMM) as the Most Appropriate Method (MAM) for benchmarking guarantee fee is not justifiable since assessee doesn’t undertake any risk of profit or loss on the said transaction.
Kerala High Court held that provisional release is not contemplated under section 130 of the CGST Act. Also held that continued detention of goods is not legally sustainable, merely because the proceedings u/s. 130 is in progress.
ITAT Bangalore held that year-end expense provisions can attract TDS under the IT Act. The matter was restored for limited verification to determine liability under Sections 201(1) and 201(1A).
NCLAT Delhi held that post approval of Resolution Plan, the Committee of Creditors [CoC] itself is also bound by its finality and cannot be allowed to tinker with or modify the resolution plan including mechanism of distribution. Accordingly, the appeal is dismissed.
The Gujarat AAR held that semen sorting services performed on bovine semen qualify as job work related to animal husbandry. As an intermediate production process under SAC 9986, the service is exempt from GST.
Traders are seeing strong returns in food, construction, auto parts, electronics, and renewable energy. The key takeaway: profitability depends on speed, supply chain control, and smart positioning—not just volume.
ITC reversal is valid only when common credit is used for both taxable and exempt supplies and Rule 42 is strictly applied. Courts have ruled that arbitrary or lump-sum reversals without statutory computation are illegal.
The 2025 law mandates advance tax on estimated income in four instalments, with limited exemptions for senior citizens and small liabilities. Missing deadlines may trigger interest under Sections 424 and 425.
The ITAT ruled that extensive repairs to a 25-year-old factory building were revenue in nature since no new asset or enduring advantage arose. The addition treating the expense as capital was deleted.
Performance-linked tax and stamp duty incentives are driving GCC expansion beyond metro hubs. The key takeaway: structured reliefs can unlock sustainable regional growth and commercial real estate demand.
