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    July 21, 2026   Case LawsIncome Tax
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    July 20, 2026   NotificationsIncome Tax
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    July 21, 2026   Case Laws Income Tax
    Statutory approval under reassessment rules is jurisdictional; sanction by an incompetent authority invalidates the notice and reassessment.
    July 21, 2026   Case Laws Income Tax
    Insurance compensation adjusted against fire loss cannot be separately taxed, and the consequential concealment penalty fails.
    July 21, 2026   Case Laws Income Tax
    Securitisation trust pass-through taxation applies where investors lack voluntary common design and retain revocation rights over contributions.
    July 21, 2026   Case Laws Income Tax
    Mandatory prior notice for bank-account attachment requires release where the assessee was not informed before recovery action.
    July 21, 2026   Case Laws Income Tax
    Bona fide cash accounting for unpaid loan interest permits exclusion of accrued but unrealised income when consistently disclosed.
    July 21, 2026   Case Laws Benami Property
    Doctrine of election barred inconsistent ownership claims, while testamentary office permission created no life interest or possessory right.
    July 21, 2026   Case Laws Customs
    Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutiny.
    July 21, 2026   Case Laws Customs
    Aluminium formwork classification turns on its on-site shuttering function, supporting treatment as aluminium structures rather than moulds.
    July 21, 2026   Case Laws Customs
    Aluminium formwork used as concrete shuttering is classified as aluminium structures, not as moulds for concrete articles.
    July 21, 2026   Case Laws Customs
    Customs valuation: proven under-invoicing sustains duty and confiscation, while provisional assessments require lawful finalisation before consequential demands.
    July 21, 2026   Case Laws Customs
    Sole or principal use classification placed imported floating seals under machinery-parts heading, defeating extended-period customs consequences.
    July 21, 2026   Case Laws Customs
    Roasted nut classification follows specific Chapter 20 entries, while preferential duty depends on establishing prescribed originating status.
    July 21, 2026   Case Laws Customs
    Semi-manufactured gold classification under Heading 7108 permits conditional ASEAN tariff preference without displacing separate import-policy restrictions.
    July 21, 2026   Case Laws IBC
    Section 7 insolvency admission proceeds despite unfinalised compromise proposals, settlement talks and pending counterclaims where financial debt and default stand established.
    July 21, 2026   Case Laws IBC
    Proportional disciplinary suspension requires hearings on unrelated assignments; creditor committees retain discretion to replace resolution professionals.
    July 21, 2026   Case Laws IBC
    Limitation for insolvency applications defeated proceedings despite valid partner authorisation and advances qualifying as financial debt.
    July 21, 2026   Case Laws Service Tax
    SEZ service-tax exemption for authorised operations survives procedural refund restrictions, allowing refunds where specified services support approved unit activities.
    July 21, 2026   Case Laws Indian Laws
    Cheque dishonour presumptions survive cash-loan reporting breaches, while rebuttal requires more than a bare denial of liability.
    July 21, 2026   Case Laws Indian Laws
    Non-arbitrability of company restructuring disputes requires NCLT adjudication, permitting supervisory intervention and ending arbitration concerning affected companies.
    July 20, 2026   Notifications Income Tax
    Scientific research approval enables eligible donation treatment, subject to annual reporting compliance and donor certificate requirements.

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      Income Tax

      Disallowance of interest expense - loan and advances to sister...

      Interest Expense Disallowance Overturned: Sister Concern Loans at 6% vs. Borrowing Rate of 12% Justified.

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      Income TaxOctober 9, 2013Case LawsHC
      Disallowance of interest expense - loan and advances to sister concerns – Held that:- Rate of interest for advancing the loan to the sister concern was 6% and borrowing in the majority cases was at 12% - no disallowance - HC
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