The Supreme Court held that Leave Travel Concession involving foreign travel falls outside Section 10(5) exemption. Employers must deduct TDS where LTC journeys include foreign legs or deviate from the shortest domestic route.
The Court held that the product fits within the specific “fruit drink” entry under UPVAT and cannot be taxed under the residuary entry at 12.5%. Regulatory food classification was deemed irrelevant for VAT purposes.
ITAT Mumbai held that even a small stock discrepancy can attract Section 69A if unexplained. Lack of supporting evidence led to confirmation of addition.
The Supreme Court found no overlapping between the criminal investigation and the States administrative probe. The writ petition seeking restraint was dismissed.
The Tribunal held that redevelopment involved transfer of the entire immovable property, entitling the assessee to indexed cost on the full asset. Restricting indexation to 22.5% land share was ruled unsustainable.
Rising tuition fees and limited scholarships have sparked concerns about commercialization in JEE and NEET coaching hubs like Kota.
The Court ruled that personal liability under Section 89 cannot be invoked without giving the director an opportunity to prove absence of negligence. Bank attachment without notice violated natural justice.
Budget 2026 introduces sweeping retrospective amendments affecting limitation, reassessment jurisdiction, DIN validity, and TPO timelines. The changes directly impact ongoing appeals, rectification, revision, and reassessment proceedings, altering litigation strategy for taxpayers and authorities alike.
The Supreme Court held that the UGC is the competent authority to determine consequences of questionable technical degrees obtained through distance education. Universities must furnish student details for further action.
Maharashtra GST Dept cancels GST registrations of non-genuine taxpayers as of Feb 2025; details include GSTNs, trade names, and cancellation info.
