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    May 28, 2026   Case LawsIncome Tax
    Wilful failure to deposit TDS can sustain prosecution where notice was duly served and non-compliance continued.
    May 28, 2026   Case LawsIncome Tax
    Retrospective reassessment amendment challenge remitted for fresh consideration, with liberty to contest section 147A and related provisions.
    May 28, 2026   Case LawsIncome Tax
    Section 43B deduction for GST payable allowed if paid before return due date, despite audit report showing liability outstanding.
    May 28, 2026   Case LawsIncome Tax
    Business deductions and transfer pricing issues: tribunal treatment of software write-offs, donation receipts, warranty provisions, and related expens...
    May 28, 2026   Case LawsIncome Tax
    Taxing only profit from suppressed turnover and avoiding double addition under section 69C in unaccounted sales cases
    May 28, 2026   Case LawsIncome Tax
    TDS correction statements and 234E fee levy before 01.06.2015 were held unsustainable by the ITAT.
    May 28, 2026   Case LawsIncome Tax
    Section 153C jurisdiction fails for pre-block year and post-2021 initiation, quashing assessments under search provisions.
    May 28, 2026   Case LawsIncome Tax
    Documentary proof of loan transaction defeated unexplained cash credit addition based on suspicion and third-party information.
    May 28, 2026   Case LawsIncome Tax
    Depreciation on goodwill from amalgamation remained allowable for pre-amendment years under settled law.
    May 28, 2026   Case LawsCustoms
    Bluetooth wireless headsets classified as network transmission apparatus, with reclassification and consequential duty demand set aside.
    May 28, 2026   Case LawsCustoms
    Customs valuation excludes post-import franchise fees and buyer-paid marketing spend; extended limitation was unavailable on disclosed facts.
    May 28, 2026   Case LawsCustoms
    Worked mica classification upheld for live consignments, but past demands, extended limitation, confiscation and penalties were rejected.
    May 28, 2026   Case LawsCustoms
    Specific tariff heading for LCD panels prevails over motor-vehicle parts classification; misdeclaration and extended limitation also fail.
    May 28, 2026   Case LawsCustoms
    Customs broker due diligence failed on forged duty credit scrips, so penalty under section 114AA was upheld.
    May 28, 2026   Case LawsIBC
    Contempt jurisdiction demands prima facie satisfaction, specific notice, and identification of individual contemnors before civil imprisonment.
    May 28, 2026   Case LawsIBC
    CIRP cooperation and mortgage priority preserved while project construction continues for homebuyers
    May 28, 2026   Case LawsIBC
    Commercial wisdom of creditors shields resolution plans from judicial reappraisal; later statutory dues issues can be implemented in approval.
    May 28, 2026   Case LawsFEMA
    FEMA seizure power upheld for foreign property held on the seizure date, but release allowed after repatriation of equivalent value.
    May 28, 2026   Case LawsMoney Laundering
    Money trail and burden of proof under PMLA upheld retention and freezing of movable properties
    May 28, 2026   Case LawsMoney Laundering
    Equivalent value attachment under money laundering law upheld where received funds were treated as proceeds of crime and prior-acquired property could...
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    May 28, 2026   Case Laws Income Tax
    Wilful failure to deposit TDS can sustain prosecution where notice was duly served and non-compliance continued.
    May 28, 2026   Case Laws Income Tax
    Retrospective reassessment amendment challenge remitted for fresh consideration, with liberty to contest section 147A and related provisions.
    May 28, 2026   Case Laws Income Tax
    Section 43B deduction for GST payable allowed if paid before return due date, despite audit report showing liability outstanding.
    May 28, 2026   Case Laws Income Tax
    Business deductions and transfer pricing issues: tribunal treatment of software write-offs, donation receipts, warranty provisions, and related expenses.
    May 28, 2026   Case Laws Income Tax
    Taxing only profit from suppressed turnover and avoiding double addition under section 69C in unaccounted sales cases
    May 28, 2026   Case Laws Income Tax
    TDS correction statements and 234E fee levy before 01.06.2015 were held unsustainable by the ITAT.
    May 28, 2026   Case Laws Income Tax
    Section 153C jurisdiction fails for pre-block year and post-2021 initiation, quashing assessments under search provisions.
    May 28, 2026   Case Laws Income Tax
    Documentary proof of loan transaction defeated unexplained cash credit addition based on suspicion and third-party information.
    May 28, 2026   Case Laws Income Tax
    Depreciation on goodwill from amalgamation remained allowable for pre-amendment years under settled law.
    May 28, 2026   Case Laws Customs
    Bluetooth wireless headsets classified as network transmission apparatus, with reclassification and consequential duty demand set aside.
    May 28, 2026   Case Laws Customs
    Customs valuation excludes post-import franchise fees and buyer-paid marketing spend; extended limitation was unavailable on disclosed facts.
    May 28, 2026   Case Laws Customs
    Worked mica classification upheld for live consignments, but past demands, extended limitation, confiscation and penalties were rejected.
    May 28, 2026   Case Laws Customs
    Specific tariff heading for LCD panels prevails over motor-vehicle parts classification; misdeclaration and extended limitation also fail.
    May 28, 2026   Case Laws Customs
    Customs broker due diligence failed on forged duty credit scrips, so penalty under section 114AA was upheld.
    May 28, 2026   Case Laws IBC
    Contempt jurisdiction demands prima facie satisfaction, specific notice, and identification of individual contemnors before civil imprisonment.
    May 28, 2026   Case Laws IBC
    CIRP cooperation and mortgage priority preserved while project construction continues for homebuyers
    May 28, 2026   Case Laws IBC
    Commercial wisdom of creditors shields resolution plans from judicial reappraisal; later statutory dues issues can be implemented in approval.
    May 28, 2026   Case Laws FEMA
    FEMA seizure power upheld for foreign property held on the seizure date, but release allowed after repatriation of equivalent value.
    May 28, 2026   Case Laws Money Laundering
    Money trail and burden of proof under PMLA upheld retention and freezing of movable properties
    May 28, 2026   Case Laws Money Laundering
    Equivalent value attachment under money laundering law upheld where received funds were treated as proceeds of crime and prior-acquired property could be attached.

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      Home› Highlights › Money Laundering › 2026 › June, 2026 › This
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      Money Laundering

      Allegations concerning foreign investment in digital news media,...

      Predicate offence requirement quashes PMLA action where foreign-investment allegations do not disclose cheating, breach of trust or conspiracy.

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      Money LaunderingJune 12, 2026Case LawsHC
      Allegations concerning foreign investment in digital news media, share pricing and use of funds did not disclose cheating, criminal breach of trust or conspiracy. The Court held that online publication was not print media, no relevant cap on foreign investment applied at the time, and share valuation was made through a chartered accountant in line with FEMA fair-value requirements, with the final price reflecting a negotiated economic decision. It found no deception, entrustment or misappropriation, and no material showing an illegal agreement or scheduled offence. As the FIR did not disclose offences under Sections 406, 420 or 120B IPC, it was quashed and the linked ECIR under the PMLA also fell for want of a surviving predicate offence.
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