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    July 15, 2026   Case Laws Income Tax
    Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
    July 15, 2026   Case Laws Income Tax
    Bona fide computational errors with full disclosure may exclude section 270A penalty, even where returned loss is reduced.
    July 15, 2026   Case Laws Income Tax
    Unascertainable TDR acquisition cost defeats capital gains computation; later deeming rules cannot retrospectively create chargeability
    July 15, 2026   Case Laws Income Tax
    Legal impossibility limits section 234A interest, while reverse indexation may support verified cost estimation for old property capital gains
    July 15, 2026   Case Laws Income Tax
    Separate maintenance agreements support business-income treatment, while replacement-loan interest may remain deductible for let-out property.
    July 15, 2026   Case Laws Income Tax
    Buying agency services remain business income, not technical fees, where procurement support lacks managerial, technical or consultancy character
    July 15, 2026   Case Laws Income Tax
    Registered property transfer fixes capital-gains tax year; absolute ownership governs assessment, with later-year tax credited appropriately
    July 15, 2026   Case Laws Income Tax
    Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
    July 15, 2026   Case Laws Income Tax
    Slump sale prevents repeat capital-gains taxation when later conveyance registration merely perfects title to transferred undertaking assets
    July 15, 2026   Case Laws Income Tax
    Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
    July 15, 2026   Case Laws Benami Property
    Fictitious-name benami transactions may justify attachment in the beneficial owner's account when cumulative evidence disproves genuine supply
    July 15, 2026   Case Laws Customs
    Sufficient cause limits late filing fees where supplementary cargo declarations reflect genuine bulk measurement and moisture variations
    July 15, 2026   Case Laws Customs
    Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
    July 15, 2026   Case Laws Customs
    Duty-free EOU input destruction under intimation attracts no duty; clarificatory amendments apply retrospectively and penalties fail absent suppressio...
    July 15, 2026   Case Laws Customs
    Principal function test classifies interactive smart display as a monitor, with its dedicated floor stand classified as apparatus-specific equipment
    July 15, 2026   Case Laws Customs
    Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
    July 15, 2026   Case Laws Customs
    Prior court decision bars advance ruling on settled classification, and partial rejection prevents separate consideration of related exemption claims
    July 15, 2026   Case Laws Companies Law
    Stamp-duty valuation of amalgamated shares requires current, relevant material; disputed demands may be remanded for fresh adjudication.
    July 15, 2026   Case Laws Companies Law
    Mandatory audit quality controls and Ind AS 109 interest recognition underpin misconduct findings against auditor and audit firm
    July 15, 2026   Case Laws SEBI
    Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed...
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July 15, 2026   Case Laws Income Tax
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scrutiny
July 15, 2026   Case Laws Income Tax
Bona fide computational errors with full disclosure may exclude section 270A penalty, even where returned loss is reduced.
July 15, 2026   Case Laws Income Tax
Unascertainable TDR acquisition cost defeats capital gains computation; later deeming rules cannot retrospectively create chargeability
July 15, 2026   Case Laws Income Tax
Legal impossibility limits section 234A interest, while reverse indexation may support verified cost estimation for old property capital gains
July 15, 2026   Case Laws Income Tax
Separate maintenance agreements support business-income treatment, while replacement-loan interest may remain deductible for let-out property.
July 15, 2026   Case Laws Income Tax
Buying agency services remain business income, not technical fees, where procurement support lacks managerial, technical or consultancy character
July 15, 2026   Case Laws Income Tax
Registered property transfer fixes capital-gains tax year; absolute ownership governs assessment, with later-year tax credited appropriately
July 15, 2026   Case Laws Income Tax
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examination
July 15, 2026   Case Laws Income Tax
Slump sale prevents repeat capital-gains taxation when later conveyance registration merely perfects title to transferred undertaking assets
July 15, 2026   Case Laws Income Tax
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Method
July 15, 2026   Case Laws Benami Property
Fictitious-name benami transactions may justify attachment in the beneficial owner's account when cumulative evidence disproves genuine supply
July 15, 2026   Case Laws Customs
Sufficient cause limits late filing fees where supplementary cargo declarations reflect genuine bulk measurement and moisture variations
July 15, 2026   Case Laws Customs
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, and penalties
July 15, 2026   Case Laws Customs
Duty-free EOU input destruction under intimation attracts no duty; clarificatory amendments apply retrospectively and penalties fail absent suppression.
July 15, 2026   Case Laws Customs
Principal function test classifies interactive smart display as a monitor, with its dedicated floor stand classified as apparatus-specific equipment
July 15, 2026   Case Laws Customs
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instruments.
July 15, 2026   Case Laws Customs
Prior court decision bars advance ruling on settled classification, and partial rejection prevents separate consideration of related exemption claims
July 15, 2026   Case Laws Companies Law
Stamp-duty valuation of amalgamated shares requires current, relevant material; disputed demands may be remanded for fresh adjudication.
July 15, 2026   Case Laws Companies Law
Mandatory audit quality controls and Ind AS 109 interest recognition underpin misconduct findings against auditor and audit firm
July 15, 2026   Case Laws SEBI
Public servant status under anti-corruption law extends to recognised stock exchange leadership; constitutional and sanction challenges do not succeed preliminarily

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Customs

Instruction No. 12/2024-Customs, dated 01-05-2024, addresses the...

New Customs Directive Calls for Annual Review of G-Card Holder Necessity and Streamlined Exams for Efficient Clearance.

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Customs May 22, 2024 Circulars
Instruction No. 12/2024-Customs, dated 01-05-2024, addresses the review of the necessity of G-Card holders at Customs stations and the conduct of G-Card examinations as per Regulation 13 of CBLR, 2018. Regulation 13 allows Customs Brokers to employ individuals based on business volume, requiring them to pass an exam for a Form-G or Form-H identity card. To ensure consistency, annual reviews of G-Card requirements will be conducted by Principal Chief Commissioners or Chief Commissioners in Customs Clearance Facilitation Committee meetings, with outcomes discussed in Customs Consultative Group meetings. This aims to streamline G-Card examination practices and ensure trained personnel for efficient EXIM consignment clearance. Any implementation challenges should be reported to the Board.
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Acts Income Tax
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