The Calcutta High Court set aside the freezing of a bank account after finding that cyber authorities had directed the freeze without obtaining a Magistrate’s order under the BNSS procedure.
The Court directed authorities not to take coercive steps based on GST show cause notices regarding leasehold rights assignment. The matter was adjourned while the issue remains under consideration.
The Bombay High Court held that assignment of leasehold rights in land and building amounts to transfer of benefits arising from immovable property. Consequently, such transactions are not taxable as supply of services under the GST Act.
The Gujarat High Court directed refund of IGST paid under Entry No.10 of Notification 10/2017 after it was declared ultra vires the IGST Act. The refund was ordered with statutory interest within four weeks.
The Bombay High Court quashed reassessment proceedings for AY 2018-19 after finding that the notice under Section 148 was issued in the name of an entity that had already merged and ceased to exist.
The RBI’s draft amendment proposes stronger customer protection in electronic banking transactions by placing the burden of proving liability on banks. It introduces detailed definitions of authorised and unauthorised transactions, along with mandatory fraud reporting mechanisms and alerts.
Liquidator, in discharge of duties under Section 35, was entitled to take custody and control of the assets of the Corporate Debtor forming part of the liquidation estate and recover outstanding dues.
The Bombay High Court held that the reassessment notice under Section 148 was issued after the surviving limitation period expired. As a result, the entire reassessment proceedings and assessment order were quashed.
The Bombay High Court ruled that limitation under Section 201(3) must be calculated based on the financial year in which each quarterly TDS statement is filed. The decision confirms that annual or cumulative computation of limitation is not permitted.
The Maharashtra Budget 2026–27 emphasizes welfare schemes, infrastructure development, and agricultural relief. Major announcements include power bill waivers for farmers and large investments in transport and rural development.
