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    July 21, 2026   Case LawsIncome Tax
    Bona fide cash accounting for unpaid loan interest permits exclusion of accrued but unrealised income when consistently disclosed.
    July 21, 2026   Case LawsBenami Property
    Doctrine of election barred inconsistent ownership claims, while testamentary office permission created no life interest or possessory right.
    July 21, 2026   Case LawsCustoms
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    July 21, 2026   Case LawsCustoms
    Roasted nut classification follows specific Chapter 20 entries, while preferential duty depends on establishing prescribed originating status.
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    Semi-manufactured gold classification under Heading 7108 permits conditional ASEAN tariff preference without displacing separate import-policy restric...
    July 21, 2026   Case LawsIBC
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    July 21, 2026   Case LawsIBC
    Proportional disciplinary suspension requires hearings on unrelated assignments; creditor committees retain discretion to replace resolution professio...
    July 21, 2026   Case LawsIBC
    Limitation for insolvency applications defeated proceedings despite valid partner authorisation and advances qualifying as financial debt.
    July 21, 2026   Case LawsService Tax
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    July 21, 2026   Case LawsIndian Laws
    Cheque dishonour presumptions survive cash-loan reporting breaches, while rebuttal requires more than a bare denial of liability.
    July 21, 2026   Case LawsIndian Laws
    Non-arbitrability of company restructuring disputes requires NCLT adjudication, permitting supervisory intervention and ending arbitration concerning ...
    July 20, 2026   NotificationsIncome Tax
    Scientific research approval enables eligible donation treatment, subject to annual reporting compliance and donor certificate requirements.
    July 20, 2026   NotificationsIncome Tax
    Capital asset transfer under an approved public sector restructuring plan is notified as not regarded as a taxable transfer.
    July 20, 2026   CircularsFEMA
    Special Rupee Vostro Accounts enable INR trade settlement and permissible cross-border transactions under consolidated operational instructions.
    July 20, 2026   Case LawsGST
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    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.
    July 20, 2026   Notifications Income Tax
    Capital asset transfer under an approved public sector restructuring plan is notified as not regarded as a taxable transfer.
    July 20, 2026   Circulars FEMA
    Special Rupee Vostro Accounts enable INR trade settlement and permissible cross-border transactions under consolidated operational instructions.
    July 20, 2026   Case Laws GST
    Natural justice breach from portal-only notice required restoration of the GST appeal for merits adjudication without further pre-deposit.
    July 20, 2026   Case Laws GST
    Advance-ruling jurisdiction excludes completed transactions and cannot affirm tax positions already implemented in statutory returns.

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      Home› Highlights › Income Tax › 2015 › October, 2015 › This
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      Income Tax

      Addition u/s 68 - The funds availed by the Assessee from Richie...

      Assessing Officer's Demand for New Confirmation Unjustified; No Addition u/s 68 of Income Tax Act Valid.

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      Income TaxOctober 2, 2015Case LawsHC
      Addition u/s 68 - The funds availed by the Assessee from Richie Rich had been returned several years ago and there was no justification for the AO to insist on a fresh confirmation. - no addition under Section 68 of the Act in respect of the transaction was sustainable. - HC
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