The Calcutta High Court held that adjusting admitted refunds to recover more than 20% of disputed tax demand during the pendency of appeals was arbitrary and unsustainable. The excess amount was directed to be refunded.
The Calcutta High Court held that recovery exceeding 20% of the disputed tax demand during the pendency of an appeal before the CIT(A) was unsustainable in the absence of exceptional circumstances. It directed refund of the excess amount recovered.
The Calcutta High Court held that adjustment of a tax refund against a disputed demand could not be sustained while the stay application and appeal were pending. It directed release of the refund with statutory interest and restrained coercive recovery until the stay application is decided.
The Tribunal held that the delay in filing the application for regular registration under Section 80G deserved to be condoned due to sufficient cause. The matter was remanded for consideration on merits instead of being rejected solely on limitation.
The Tribunal held that an unsigned loose paper containing only jottings could not justify an addition without corroborative evidence. The addition of alleged interest income was therefore deleted.
The RBI’s 2026 Master Direction removes mandatory platform-level due diligence for MSME sellers, making TReDS onboarding easier. It also introduces measures aimed at improving financing efficiency and competition.
The Supreme Court held that under the amended Section 13(8) of the SARFAESI Act, the borrower’s statutory right of redemption ends upon publication of the auction notice. It set aside the High Court’s order quashing the auction sale certificate.
This article explains why the Insolvency and Bankruptcy Code places commercial decision-making in the hands of the Committee of Creditors and limits judicial interference. It also examines the Supreme Court’s evolving jurisprudence reinforcing this principle.
The SC declined to interfere with the High Court ruling that Rule 86A cannot be used to create a negative Electronic Credit Ledger. The judgment clarifies that authorities may recover dues through other statutory remedies.
The High Court held that Rule 86A permits blocking only of input tax credit actually available in the Electronic Credit Ledger. Negative blocking beyond the available balance was declared unsustainable, while preserving the department’s statutory recovery powers.
