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    July 29, 2026   Case Laws Income Tax
    Continuing new tax regime option remains effective despite an incorrect first-year declaration in a later return.
    July 29, 2026   Case Laws Income Tax
    Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
    July 29, 2026   Case Laws Income Tax
    Section 87A rebate on short-term capital gains remains available for eligible taxpayers under the unamended law for AY 2024-25.
    July 29, 2026   Case Laws GST
    Supplier tax payment remains a valid condition for Input Tax Credit, despite a purchasing dealer's asserted bona fides.
    July 29, 2026   Case Laws Income Tax
    Arm's length sales commission and working-capital adjustment supported deletion of separate transfer-pricing adjustments for intra-group transactions.
    July 29, 2026   Case Laws Income Tax
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    Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
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    July 29, 2026   Case Laws Service Tax
    Recognised professional-course coaching qualifies for service-tax exemption despite being an initial or intermediate stage of education.
    July 29, 2026   Case Laws Indian Laws
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    July 28, 2026   Notifications Income Tax
    Form ITR-BN governs block-period returns after covered searches, requiring prescribed verification and treatment of provisional income.
    July 28, 2026   Circulars Customs
    Digital Section 49 warehousing enables online applications, query responses, status tracking and renewable storage-period extensions through ICEGATE.
    July 28, 2026   Case Laws GST
    Independent application of mind in show cause notices required quashing AI-generated notice and consequential proceedings.
    July 28, 2026   Case Laws GST
    Mandatory penalty-order timelines for detained goods require strict compliance, making delayed orders vulnerable to being quashed.
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July 29, 2026   Case Laws Income Tax
Continuing new tax regime option remains effective despite an incorrect first-year declaration in a later return.
July 29, 2026   Case Laws Income Tax
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain deductible.
July 29, 2026   Case Laws Income Tax
Section 87A rebate on short-term capital gains remains available for eligible taxpayers under the unamended law for AY 2024-25.
July 29, 2026   Case Laws GST
Supplier tax payment remains a valid condition for Input Tax Credit, despite a purchasing dealer's asserted bona fides.
July 29, 2026   Case Laws Income Tax
Arm's length sales commission and working-capital adjustment supported deletion of separate transfer-pricing adjustments for intra-group transactions.
July 29, 2026   Case Laws Income Tax
Share capital credits supported by primary evidence cannot be added merely on suspicion or untested adverse statements.
July 29, 2026   Case Laws Customs
Fabric classification requires evidence before concessional customs exemption can be denied through reclassification as bleached and dyed goods.
July 29, 2026   Case Laws Customs
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technical evidence.
July 29, 2026   Case Laws Companies Law
Company-name rectification may follow government action on information from an aggrieved company where registered names are confusingly similar.
July 29, 2026   Case Laws IBC
Insolvency moratorium protects only the corporate debtor, allowing consumer proceedings to continue against unprotected directors and promoters.
July 29, 2026   Case Laws IBC
Email service in insolvency proceedings supports ex parte orders where delayed recall lacks sufficient cause or evidence of fraud.
July 29, 2026   Case Laws Service Tax
Recognised professional-course coaching qualifies for service-tax exemption despite being an initial or intermediate stage of education.
July 29, 2026   Case Laws Indian Laws
Statutory limits on Facilitation Council membership can render an arbitral award void and permit exceptional writ review.
July 29, 2026   Case Laws Indian Laws
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offences.
July 28, 2026   Notifications SEZ
SEZ area de-notification reduces the notified Information Technology zone at Pallipuram, leaving a revised notified area.
July 28, 2026   Notifications SEZ
SEZ de-notification rescinds the IT and IT-enabled services zone notification while preserving prior actions and omissions.
July 28, 2026   Notifications Income Tax
Form ITR-BN governs block-period returns after covered searches, requiring prescribed verification and treatment of provisional income.
July 28, 2026   Circulars Customs
Digital Section 49 warehousing enables online applications, query responses, status tracking and renewable storage-period extensions through ICEGATE.
July 28, 2026   Case Laws GST
Independent application of mind in show cause notices required quashing AI-generated notice and consequential proceedings.
July 28, 2026   Case Laws GST
Mandatory penalty-order timelines for detained goods require strict compliance, making delayed orders vulnerable to being quashed.

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Income Tax

LTCG - withdrawal of exemption u/s 54B - sale of new land within...

Tax Exemption Withdrawn: Section 54B Breach Due to Early Sale of Urban Agricultural Land.

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Income Tax December 13, 2019 Case Laws HC
LTCG - withdrawal of exemption u/s 54B - sale of new land within lock in period - In the case on hand, we are concerned with the capital gains with respect to the first transaction, i.e. the sale of urban agricultural land. We are not concerned with the second transaction of the sale of the rural agricultural land. - the assessee would be required to pay tax on the exemption claimed earlier.
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Acts Income Tax
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