Telangana HC held Rule 39 “same month” ISD ITC distribution ultra vires Section 20 (pre-01.04.2025), protecting accumulated credit; timelines apply post-amendment.
The ruling clarified that exemption under section 54F cannot be denied if it was not part of the reasons for reopening. Reassessment was quashed as the sole addition lay outside recorded grounds.
Taxpayers are facing revival of decades-old demands without prior notice or service of orders. The key takeaway is that such demands suffer from serious procedural lapses and merit CBDT intervention.
The High Court held that a bank cannot unilaterally reduce the interest rate agreed in a fixed deposit during its tenure. Depositors cannot be penalised for internal errors of the bank.
The judgment reiterates that valuation must comply with statutory rules and cannot hinge on a single third-party transaction. Reassessment contrary to this principle was quashed.
The High Court ruled that GST demands cannot be determined against a deceased proprietor. Authorities must issue show cause notices to legal heirs before fixing liability, failing which proceedings are void.
The Bombay High Court held that assignment of long-term leasehold rights in immovable property does not constitute a supply of services under the GST law. The Court quashed the GST demand, ruling that such transfers fall outside the scope of taxable supply.
The consumer authority ruled that adding service charge by default, even after clear judicial guidance, violates consumer rights. Full refund and a monetary penalty were ordered, reinforcing that service charges must be voluntary.
The Supreme Court held that repeated non-disclosure of pending criminal cases in attestation and verification forms is fatal to candidature. Truthful disclosure at entry is mandatory, regardless of later acquittal or clarification.
ICAI has updated the financial and professional eligibility norms for organizations imparting industrial training. The changes aim to standardize capacity, ensure qualified supervision, and take effect from 1 January 2026.
