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    July 28, 2026   Case LawsGST
    Capacity-based pan masala cess failed equality review where deemed production treated materially different machine outputs alike.
    July 28, 2026   Case LawsGST
    GST on compulsory acquisition compensation is impermissible because eminent-domain acquisition is neither a supply of goods nor services.
    July 28, 2026   Case LawsGST
    GST appellate remand prohibition makes unauthorised remand a jurisdictional nullity, preserving writ review despite rectification and alternative-reme...
    July 28, 2026   Case LawsGST
    Arrest safeguards and transit remand requirements invalidated detention following inter-State transfer without communicated grounds or magistrate auth...
    July 28, 2026   Case LawsGST
    Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustain...
    July 28, 2026   Case LawsGST
    Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities e...
    July 28, 2026   Case LawsIncome Tax
    Redemption premium on business-funding FCCBs is revenue expenditure and may be spread across the prescribed maturity period.
    July 28, 2026   Case LawsIncome Tax
    Pre-commencement project receipts remain capital when tied to installation, while infrastructure deductions follow the taxpayer's chosen initial year.
    July 28, 2026   Case LawsIncome Tax
    Tax deducted at source must be considered before prosecuting delayed return filing where the statutory exception applies.
    July 28, 2026   Case LawsIncome Tax
    Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
    July 28, 2026   Case LawsIncome Tax
    Notional interest under mercantile accounting cannot be imputed where debtors lack business activity and interest recovery is unsupported.
    July 28, 2026   Case LawsIncome Tax
    India-Netherlands treaty taxation: executive search fees and cost reimbursements may fall outside technical services taxation.
    July 28, 2026   Case LawsIncome Tax
    Kachha arhtia turnover excludes principals' sale proceeds; tax-audit penalty fails where no books existed for audit.
    July 28, 2026   Case LawsIncome Tax
    Foreign income taxed in final settlement proceedings cannot be reassessed under the Black Money Act, preventing double taxation.
    July 28, 2026   Case LawsIncome Tax
    Outright software purchases treated as business profits, eliminating withholding where the foreign seller lacks an Indian permanent establishment.
    July 28, 2026   Case LawsIncome Tax
    Interest on partners' running accounts and lender accruals remains deductible where tax is deducted and recipients report income.
    July 28, 2026   Case LawsIncome Tax
    Business closure expenditure fails the section 37(1) test, while unsupported estimated foreign exchange loss disallowance cannot stand.
    July 28, 2026   Case LawsIncome Tax
    Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
    July 28, 2026   Case LawsIncome Tax
    Interest accrual, related investment disallowance, loan genuineness and unquoted-share valuation govern the respective tax adjustments and remand.
    July 28, 2026   Case LawsIncome Tax
    Independent corroboration and proven nexus govern additions based on retracted statements, loose sheets, and third-party records.
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    July 28, 2026   Case Laws GST
    Capacity-based pan masala cess failed equality review where deemed production treated materially different machine outputs alike.
    July 28, 2026   Case Laws GST
    GST on compulsory acquisition compensation is impermissible because eminent-domain acquisition is neither a supply of goods nor services.
    July 28, 2026   Case Laws GST
    GST appellate remand prohibition makes unauthorised remand a jurisdictional nullity, preserving writ review despite rectification and alternative-remedy objections.
    July 28, 2026   Case Laws GST
    Arrest safeguards and transit remand requirements invalidated detention following inter-State transfer without communicated grounds or magistrate authorisation.
    July 28, 2026   Case Laws GST
    Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustainable.
    July 28, 2026   Case Laws GST
    Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities exist.
    July 28, 2026   Case Laws Income Tax
    Redemption premium on business-funding FCCBs is revenue expenditure and may be spread across the prescribed maturity period.
    July 28, 2026   Case Laws Income Tax
    Pre-commencement project receipts remain capital when tied to installation, while infrastructure deductions follow the taxpayer's chosen initial year.
    July 28, 2026   Case Laws Income Tax
    Tax deducted at source must be considered before prosecuting delayed return filing where the statutory exception applies.
    July 28, 2026   Case Laws Income Tax
    Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relevant date.
    July 28, 2026   Case Laws Income Tax
    Notional interest under mercantile accounting cannot be imputed where debtors lack business activity and interest recovery is unsupported.
    July 28, 2026   Case Laws Income Tax
    India-Netherlands treaty taxation: executive search fees and cost reimbursements may fall outside technical services taxation.
    July 28, 2026   Case Laws Income Tax
    Kachha arhtia turnover excludes principals' sale proceeds; tax-audit penalty fails where no books existed for audit.
    July 28, 2026   Case Laws Income Tax
    Foreign income taxed in final settlement proceedings cannot be reassessed under the Black Money Act, preventing double taxation.
    July 28, 2026   Case Laws Income Tax
    Outright software purchases treated as business profits, eliminating withholding where the foreign seller lacks an Indian permanent establishment.
    July 28, 2026   Case Laws Income Tax
    Interest on partners' running accounts and lender accruals remains deductible where tax is deducted and recipients report income.
    July 28, 2026   Case Laws Income Tax
    Business closure expenditure fails the section 37(1) test, while unsupported estimated foreign exchange loss disallowance cannot stand.
    July 28, 2026   Case Laws Income Tax
    Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported adjustments failed.
    July 28, 2026   Case Laws Income Tax
    Interest accrual, related investment disallowance, loan genuineness and unquoted-share valuation govern the respective tax adjustments and remand.
    July 28, 2026   Case Laws Income Tax
    Independent corroboration and proven nexus govern additions based on retracted statements, loose sheets, and third-party records.

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      Home› Highlights › FEMA › 2023 › August, 2023 › This
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      FEMA

      Receiving foreign exchange in lieu of issuance of equity...

      High Court Rules No FIPB Approval Needed for Foreign Exchange in Equity Shares; Unauthorized Claims Deemed Unreasonable.

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      FEMAAugust 2, 2023Case LawsHC
      Receiving foreign exchange in lieu of issuance of equity shares/share warrants - whether no approval has been granted by FIPB? - When FIPB, the authority, who is vested with power to grant approval has held that no post facto approval is required, interpreting the order in any other fashion, that too by an authority, who is not empowered to decide on the manner in which the said order has been passed, it does not lie in the mouth of the 1st respondent to claim that approval has not been obtained and such a finding is not only perverse, but arbitrary, illegal and unreasonable - HC
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