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    June 3, 2026   Case Laws GST
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June 3, 2026   Case Laws GST
GST treatment of commercial real estate: under-construction sales and leasing are taxable, with proportionate credit only for pre-completion sales.
June 3, 2026   Case Laws Income Tax
Strict construction of equalisation levy provisions excludes reimbursement to an overseas subsidiary for online advertising costs.
June 3, 2026   Case Laws Income Tax
Prepaid distributor discount under Section 194H: TDS refund ordered forthwith, while separate demand adjustment issues remain open.
June 3, 2026   Case Laws Income Tax
Taxability of interest on enhanced compensation upheld as income from other sources; reassessment challenge also failed for lack of prejudice.
June 3, 2026   Case Laws Income Tax
Treaty taxability of technical service fees under India-Thailand DTAA denied absent permanent establishment; penalty challenge premature.
June 3, 2026   Case Laws Income Tax
Consolidated satisfaction note invalidates search assessment jurisdiction and defeats revision when the foundational assessment is void.
June 3, 2026   Case Laws Income Tax
Mechanical sanction for reopening vitiates reassessment where approval reflects non-application of mind and invalid statutory reference.
June 3, 2026   Case Laws Income Tax
Uncorroborated WhatsApp evidence and defective stock verification were insufficient to sustain salary, bonus, and sales additions.
June 3, 2026   Case Laws Income Tax
Best judgment assessment in contract business: ITAT reduced profit estimate to 6% and deleted section 68 additions.
June 3, 2026   Case Laws Income Tax
Journal entry loan transactions attract penalty unless reasonable cause is proved under the statutory exception.
June 3, 2026   Case Laws Income Tax
Penalty cannot survive after quantum addition is deleted, and debatable subsidy characterisation does not justify concealment penalty.
June 3, 2026   Case Laws Income Tax
Reassessment revision under section 263 fails where the Assessing Officer examined evidence and accepted the explanation.
June 3, 2026   Case Laws Income Tax
Revision jurisdiction under section 263 fails where new grounds are introduced beyond notice and journal entry transfer is not loan repayment.
June 3, 2026   Case Laws Income Tax
Whistleblower reward taxable as income from other sources, not a windfall or capital receipt
June 3, 2026   Case Laws Income Tax
Section 87A rebate under the new tax regime cannot be denied for short-term capital gains in Assessment Year 2024-25.
June 3, 2026   Case Laws Income Tax
Natural justice and books rejection: Tribunal upheld income estimation after finding no prejudice from notice service defects.
June 3, 2026   Case Laws Income Tax
Separate legal identity of LLP bars claim for pre-conversion municipal taxes, but standard deduction on house property income applies.
June 3, 2026   Case Laws Income Tax
Black Money Act penalty not sustained where foreign asset was disclosed in return and omission was only in Schedule FA.
June 3, 2026   Case Laws Customs
Customs broker penalty fails where classification dispute is interpretational and no mala fide intent or false declaration is shown.
June 3, 2026   Case Laws Customs
Edible grade exemption under Customs notification upheld; circulars cannot add an end-use condition not found in the notification.

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Insolvency and Bankruptcy

Admission of section 7 application - initiation of CIRP against...

Corporate Insolvency Process Upheld; Financial Creditor's Settlement Terms Prevail Over Debtor's Default Allegations.

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Insolvency and Bankruptcy February 13, 2024 Case Laws AT
Admission of section 7 application - initiation of CIRP against the Corporate Debtor - existence of debt and default or not - When the Financial Creditor had repeatedly made it clear that they were strictly relying on the terms and conditions of the Settlement Agreement and that NoC would be released only after settlement amount was received, levelling of allegation by the Corporate Debtor that the Financial Creditor was responsible for their default is devoid of force and substance. - The moment the Adjudicating Authority is satisfied that a default has occurred, the Application is to be admitted unless it is incomplete. - NCLT rightly admitted the application.
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Acts Income Tax
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