The Madras High Court dismissed challenges to the transfer of income-tax prosecution cases to the MP/MLA Special Court. It held that the transfer was consistent with the framework arising from the Supreme Court’s directions.
CESTAT Mumbai held that liquidated damages recovered for delayed contractual performance are neither a taxable service nor consideration. The service tax demand, interest, and penalties were set aside.
CESTAT Kolkata held that encashment of a bank guarantee for shortfall in Minimum Guarantee Tonnage is not consideration for tolerating an act under Section 66E(e). The service tax demand and penalty were therefore set aside.
The Madras High Court held that a single GST show cause notice covering multiple financial years is without jurisdiction and impermissible in law. It quashed the notice while permitting fresh proceedings for each financial year separately.
RBI has launched the Integrated Ombudsman Scheme, 2026, providing a centralized, cost-free mechanism for resolving complaints against regulated entities. The Scheme also introduces structured settlements, compensation, and an appeal process.
The Madras High Court held that clubbing five assessment years in a single GST show cause notice is contrary to Section 73 of the CGST Act. It directed consideration of the taxpayer’s representation and separate year-wise proceedings.
ITAT Mumbai ruled that the amended first proviso to Section 87A refers to total income and does not distinguish between normal income and STCG taxable under Section 111A. The rebate was therefore held to be available.
ITAT Chennai held that inclusion of taxable long-term capital gains in total income does not disentitle an assessee from claiming Section 87A rebate for AY 2024-25. The Assessing Officer was directed to grant the rebate and recompute the tax liability.
RBI has updated the FLA Return FAQs, clarifying who must file, the 15 July deadline, revision procedures, and reporting requirements under FEMA. The guidance helps entities avoid compliance lapses and potential penalties.
ITAT Rajkot held that Section 87A does not expressly prohibit rebate on tax payable on short-term capital gains under Section 111A for AY 2024-25. Following an earlier Coordinate Bench ruling, the Tribunal allowed the assessee’s appeal.
