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    May 29, 2026   Case Laws IBC
    Pre-CoC CIRP withdrawal upheld where Form FA was routed through the interim resolution professional within Regulation 30A procedure.
    May 29, 2026   Case Laws Money Laundering
    Bank account freezing without lawful authority was arbitrary; anti-money laundering reporting rules did not justify de-freezing refusal.
    May 29, 2026   Case Laws Money Laundering
    PMLA retention of seized cash and vehicles upheld where pending proceedings and prima facie money-laundering nexus were shown.
    May 29, 2026   Case Laws Service Tax
    Employer-employee exclusion and lack of independent evidence defeated service tax demands on director remuneration
    May 29, 2026   Case Laws Central Excise
    Excisability and manufacture of aluminium composite panels failed where site-specific cutting did not create distinct marketable goods.
    May 28, 2026   Circulars Customs
    Direct port delivery status conversion permitted for eligible containers, with same-day processing to ease terminal evacuation.
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    May 28, 2026   Circulars GST
    GST Appellate Tribunal dress code prescribed for authorised representatives, with a summer exemption from wearing a black coat.
    May 28, 2026   Circulars Customs
    Mandatory Body Worn Cameras for import cargo examinations now required, with full recording and retention rules in place.
    May 28, 2026   Case Laws GST
    Proof of demand is essential in corruption cases; recovery alone cannot sustain conviction without reliable acceptance evidence.
    May 28, 2026   Case Laws GST
    Omission of Rule 96(10) ended pending refund proceedings, and demands based solely on that rule were quashed.
    May 28, 2026   Case Laws GST
    Criminal liability of advocates for professional acts rejected; HC quashes proceedings where counsel filed a statutory appeal
    May 28, 2026   Case Laws GST
    GST assessment order invalid without DIN; delayed writ entertained on terms with partial tax deposit and remand
    May 28, 2026   Case Laws GST
    Writ petition maintainability denied where final orders existed and statutory appeal, with pre-deposit, was the proper remedy.
    May 28, 2026   Case Laws GST
    Puja samagri exemption is narrowly construed; rose water sold for ritual use was classified as taxable essential oil solution.
    May 28, 2026   Case Laws GST
    GST on temple licence to collect human hair held taxable as a service; goods exemption did not apply.
    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 expens...
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May 29, 2026   Case Laws IBC
Pre-CoC CIRP withdrawal upheld where Form FA was routed through the interim resolution professional within Regulation 30A procedure.
May 29, 2026   Case Laws Money Laundering
Bank account freezing without lawful authority was arbitrary; anti-money laundering reporting rules did not justify de-freezing refusal.
May 29, 2026   Case Laws Money Laundering
PMLA retention of seized cash and vehicles upheld where pending proceedings and prima facie money-laundering nexus were shown.
May 29, 2026   Case Laws Service Tax
Employer-employee exclusion and lack of independent evidence defeated service tax demands on director remuneration
May 29, 2026   Case Laws Central Excise
Excisability and manufacture of aluminium composite panels failed where site-specific cutting did not create distinct marketable goods.
May 28, 2026   Circulars Customs
Direct port delivery status conversion permitted for eligible containers, with same-day processing to ease terminal evacuation.
May 28, 2026   Circulars Customs
Temporary Customs Area notified for DPD cargo storage, with segregation, safety controls, and strict compliance conditions.
May 28, 2026   Circulars GST
GST Appellate Tribunal dress code prescribed for authorised representatives, with a summer exemption from wearing a black coat.
May 28, 2026   Circulars Customs
Mandatory Body Worn Cameras for import cargo examinations now required, with full recording and retention rules in place.
May 28, 2026   Case Laws GST
Proof of demand is essential in corruption cases; recovery alone cannot sustain conviction without reliable acceptance evidence.
May 28, 2026   Case Laws GST
Omission of Rule 96(10) ended pending refund proceedings, and demands based solely on that rule were quashed.
May 28, 2026   Case Laws GST
Criminal liability of advocates for professional acts rejected; HC quashes proceedings where counsel filed a statutory appeal
May 28, 2026   Case Laws GST
GST assessment order invalid without DIN; delayed writ entertained on terms with partial tax deposit and remand
May 28, 2026   Case Laws GST
Writ petition maintainability denied where final orders existed and statutory appeal, with pre-deposit, was the proper remedy.
May 28, 2026   Case Laws GST
Puja samagri exemption is narrowly construed; rose water sold for ritual use was classified as taxable essential oil solution.
May 28, 2026   Case Laws GST
GST on temple licence to collect human hair held taxable as a service; goods exemption did not apply.
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.

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Income Tax

Revenue receipt or capital receipt - Foreign exchange gain...

Foreign Exchange Gain from Vessel Contract Cancellation Ruled as Non-Taxable Capital Receipt by ITAT.

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Income Tax February 10, 2024 Case Laws AT
Revenue receipt or capital receipt - Foreign exchange gain written back on cancellation of vessel construction contract taxed u/s. 28(iv) - The ITAT agreed with the assessee, holding that the gain was a capital receipt not taxable under Section 28(iv) of the Act. This decision underscores the differentiation between capital and revenue receipts, particularly in the context of foreign exchange gains related to capital assets.
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Acts Income Tax
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