The Court held that seizure of ₹1 crore in cash during GST searches was unlawful because authorities failed to record “reason to believe” as required under Section 67(2) of the CGST Act.
Authorities rejected several name reservation applications because they were phonetically or structurally similar to existing entities. The guidance emphasizes selecting unique names and complying with Companies Act naming rules.
Courts have held that lump-sum alimony received under a divorce settlement is a capital receipt outside the scope of taxable income. However, periodic maintenance payments remain taxable in the recipient’s hands.
The Karnataka High Court held that non-submission of LUT/Bond prior to export is a curable procedural lapse. Refund claims cannot be rejected solely on that ground and must be reconsidered.
ITAT Chennai held that where unaccounted purchases are found and the corresponding sales are not doubted, only the profit element embedded in such purchases can be brought to tax, and not the entire purchase value. Accordingly, addition towards unaccounted purchases duly restricted.
ITAT Delhi held that gift of a property to wife specially when she is a co-sharer in the property cannot be considered to be a colourable device and camouflage transaction to taint claim of Section 54F of the Income Tax Act. Accordingly, deduction u/s. 54F erroneously disallowed.
The Income-tax Act, 2025 introduces Form 141 to replace Form 26QB from April 2026. The change aims to reduce reporting mistakes and simplify TDS compliance in property transactions.
Even if seafarers fail the 182-day NRI test due to crises or travel delays, foreign salary may still remain tax-free. RNOR status and CBDT Circular 13/2017 provide key protection.
The High Court directed strict enforcement of a 2025 SOP aimed at preventing foreign nationals from prolonging illegal stay by citing pending criminal cases. It also ordered formation of screening committees to review such prosecutions.
CBDT amended Income-tax Rules to include crypto-assets and digital financial products in CRS reporting. The move expands disclosure obligations for financial institutions and enhances tax transparency.
