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    May 16, 2026   Case Laws GST
    Tariff classification of AAC bricks turns on ceramic character, with heading 6810 preferred over tariff item 69041000.
    May 16, 2026   Case Laws GST
    Input tax credit allowed for concrete VCV tower treated as structural support of plant and machinery, not blocked civil construction.
    May 16, 2026   Case Laws Income Tax
    Transfer pricing adjustment: Bright Line Test rejected, royalty issues treated as covered, and comparable exclusion found factual.
    May 16, 2026   Case Laws Income Tax
    Stamp duty valuation governed reassessment limitation, and the extended period applied because the petitioner's share crossed the threshold.
    May 16, 2026   Case Laws Income Tax
    Reassessment limitation upheld where response time was excluded under section 149 and survey material qualified as an asset.
    May 16, 2026   Case Laws Income Tax
    Peak credit, TDS disallowance and work-in-progress adjustments shaped the tribunal's tax rulings on business receipts.
    May 16, 2026   Case Laws Income Tax
    Treaty benefit for separate capital gains sources allowed; DTAA-exempt share gains cannot be forced into Act-based loss set-off.
    May 16, 2026   Case Laws Income Tax
    TNMM transfer pricing principles reshape comparables, working capital, royalty, services and receivables adjustments in a mixed ITAT ruling.
    May 16, 2026   Case Laws Income Tax
    Deduction for standard-asset provisioning under section 36(1)(viia) allowed where RBI norms are followed and books reflect the provision.
    May 16, 2026   Case Laws Income Tax
    Beneficial leave-encashment exemption amendment applied retrospectively to pending matters, extending the higher ceiling.
    May 16, 2026   Case Laws Income Tax
    Bona fide share transfer to wholly owned subsidiary qualifies for section 47(iv) exemption despite tax benefit.
    May 16, 2026   Case Laws Income Tax
    Permanent establishment and make-available test rejected for reinsurance and support service receipts, deleting the tax additions.
    May 16, 2026   Case Laws Income Tax
    Section 54 exemption can be claimed when capital gains are fully used to buy new property before filing a belated return.
    May 16, 2026   Case Laws Income Tax
    Evidentiary support and cross-examination rights defeat additions based on WhatsApp chats, retracted statements, and presumptions.
    May 16, 2026   Case Laws Benami Property
    Unexplained cash can qualify as benami property under the PBPT Act despite proposed income-tax disclosure.
    May 16, 2026   Case Laws Customs
    Contempt for post-judgment anti-dumping duty collection rejected after the court accepted inadvertent misinterpretation and noted refund steps.
    May 16, 2026   Case Laws Customs
    Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
    May 16, 2026   Case Laws Customs
    Extended limitation under customs law failed where disclosure was made in the bill of entry and intent to evade duty was not proved.
    May 16, 2026   Case Laws Customs
    Tariff classification dispute upheld for textile-based laminate goods, but confiscation and penalty were set aside.
    May 16, 2026   Case Laws Companies Law
    Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
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May 16, 2026   Case Laws GST
Tariff classification of AAC bricks turns on ceramic character, with heading 6810 preferred over tariff item 69041000.
May 16, 2026   Case Laws GST
Input tax credit allowed for concrete VCV tower treated as structural support of plant and machinery, not blocked civil construction.
May 16, 2026   Case Laws Income Tax
Transfer pricing adjustment: Bright Line Test rejected, royalty issues treated as covered, and comparable exclusion found factual.
May 16, 2026   Case Laws Income Tax
Stamp duty valuation governed reassessment limitation, and the extended period applied because the petitioner's share crossed the threshold.
May 16, 2026   Case Laws Income Tax
Reassessment limitation upheld where response time was excluded under section 149 and survey material qualified as an asset.
May 16, 2026   Case Laws Income Tax
Peak credit, TDS disallowance and work-in-progress adjustments shaped the tribunal's tax rulings on business receipts.
May 16, 2026   Case Laws Income Tax
Treaty benefit for separate capital gains sources allowed; DTAA-exempt share gains cannot be forced into Act-based loss set-off.
May 16, 2026   Case Laws Income Tax
TNMM transfer pricing principles reshape comparables, working capital, royalty, services and receivables adjustments in a mixed ITAT ruling.
May 16, 2026   Case Laws Income Tax
Deduction for standard-asset provisioning under section 36(1)(viia) allowed where RBI norms are followed and books reflect the provision.
May 16, 2026   Case Laws Income Tax
Beneficial leave-encashment exemption amendment applied retrospectively to pending matters, extending the higher ceiling.
May 16, 2026   Case Laws Income Tax
Bona fide share transfer to wholly owned subsidiary qualifies for section 47(iv) exemption despite tax benefit.
May 16, 2026   Case Laws Income Tax
Permanent establishment and make-available test rejected for reinsurance and support service receipts, deleting the tax additions.
May 16, 2026   Case Laws Income Tax
Section 54 exemption can be claimed when capital gains are fully used to buy new property before filing a belated return.
May 16, 2026   Case Laws Income Tax
Evidentiary support and cross-examination rights defeat additions based on WhatsApp chats, retracted statements, and presumptions.
May 16, 2026   Case Laws Benami Property
Unexplained cash can qualify as benami property under the PBPT Act despite proposed income-tax disclosure.
May 16, 2026   Case Laws Customs
Contempt for post-judgment anti-dumping duty collection rejected after the court accepted inadvertent misinterpretation and noted refund steps.
May 16, 2026   Case Laws Customs
Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unproved.
May 16, 2026   Case Laws Customs
Extended limitation under customs law failed where disclosure was made in the bill of entry and intent to evade duty was not proved.
May 16, 2026   Case Laws Customs
Tariff classification dispute upheld for textile-based laminate goods, but confiscation and penalty were set aside.
May 16, 2026   Case Laws Companies Law
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld.

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Income Tax

The Appellate Tribunal held that negative working capital...

Appellate Tribunal Excludes Multiple Companies from Comparables in Transfer Pricing Case for Captive Service Provider.

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Income Tax June 28, 2024 Case Laws AT
The Appellate Tribunal held that negative working capital adjustment cannot be made for a captive service provider. L&T Infotech Ltd. and Infosys Ltd. were excluded from comparables as the assessee is a captive service provider compensated on a cost+mark-up basis. Persistent Systems Ltd. was excluded due to lack of segmental details. Infobeans Technologies Ltd. was found not functionally comparable. Tata Elxsi Ltd. was excluded as it generates revenue from product sales. Mindtree Ltd. & Nihilent Ltd. lacked segmental financials. Cygnet Infotech Pvt. Ltd. was excluded for not being a captive service provider. Cybage Software Pvt. Ltd. was excluded due to diversified activities. Batchmaster Software Pvt. Ltd. was remanded for further verification. The issue of deduction u/s. 10AA and interest levy u/s. 234A, 234B, 234C requires verification by the assessing officer based on evidence provided by the assessee.
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Acts Income Tax
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