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    April 22, 2026   Case Laws Income Tax
    Functional comparability in transfer pricing failed for MPS Ltd.; exclusion from comparables removed the adjustment.
    April 22, 2026   Case Laws Income Tax
    Under-reporting penalty under section 270A deleted after quantum addition failed and returned income was accepted.
    April 22, 2026   Case Laws Income Tax
    Section 54F relief upheld for investment before section 139(4), single contiguous house ownership, and asset-wise capital gains treatment.
    April 22, 2026   Case Laws Income Tax
    Composite property and stamp valuation disputes: residential portion qualifies for section 54, and DVO reference is required.
    April 22, 2026   Case Laws Income Tax
    Unabated assessments need year-specific incriminating material; loose notings and mere presumption cannot sustain property-sale additions.
    April 22, 2026   Case Laws Income Tax
    Compensatory interest and business advances upheld as allowable; cash payment and unexplained credit additions were rejected.
    April 22, 2026   Case Laws Income Tax
    ITBA upload of DRP directions starts limitation for final assessment; delayed orders are time-barred and quashed.
    April 22, 2026   Case Laws Income Tax
    Transfer pricing comparability adjustments turned on foreign exchange, customs duty, liability write-back and cash PLI methodology.
    April 22, 2026   Case Laws Income Tax
    Transfer pricing characterization and FAR analysis required fresh review before selecting the most appropriate method.
    April 22, 2026   Case Laws Income Tax
    Transfer pricing on interest-free group loans fails where business has not commenced and no income was earned.
    April 22, 2026   Case Laws Income Tax
    Export incentives count as operating revenue; working capital adjustment and section 80G relief for CSR donation allowed.
    April 22, 2026   Case Laws Income Tax
    Aggregated TNMM accepted for linked transactions, with nil ALP and separate receivables adjustment both rejected.
    April 22, 2026   Case Laws Customs
    RoDTEP eligibility for restricted sugar exports cannot be denied where exports were made under permitted quota and approval.
    April 22, 2026   Case Laws Customs
    Reasoned order required on refund interest claim; omission to address accrued interest showed non-application of mind.
    April 22, 2026   Case Laws Customs
    Binding precedent and seat-part classification control: seat-mechanism components remained parts of seats, not motor-vehicle accessories.
    April 22, 2026   Case Laws Customs
    Untested customs statements cannot sustain rejection of transaction value without mandatory section 138B compliance.
    April 22, 2026   Case Laws Customs
    Electronic evidence, customs valuation and undervaluation findings upheld; separate penalties for document suppression were set aside.
    April 22, 2026   Case Laws Customs
    DFIA exemption for non-sensitive inputs applies without technical correlation, but only on strict conformity with licence conditions.
    April 22, 2026   Case Laws IBC
    Admitted homebuyer claims cannot be reopened after plan approval; resolution applicants must honour crystallised liabilities and hand over possession.
    April 22, 2026   Case Laws IBC
    Condonation of refiling delay refused where repeated defects, lack of diligence and vague explanations defeated the appeal against resolution plan app...
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April 22, 2026   Case Laws Income Tax
Functional comparability in transfer pricing failed for MPS Ltd.; exclusion from comparables removed the adjustment.
April 22, 2026   Case Laws Income Tax
Under-reporting penalty under section 270A deleted after quantum addition failed and returned income was accepted.
April 22, 2026   Case Laws Income Tax
Section 54F relief upheld for investment before section 139(4), single contiguous house ownership, and asset-wise capital gains treatment.
April 22, 2026   Case Laws Income Tax
Composite property and stamp valuation disputes: residential portion qualifies for section 54, and DVO reference is required.
April 22, 2026   Case Laws Income Tax
Unabated assessments need year-specific incriminating material; loose notings and mere presumption cannot sustain property-sale additions.
April 22, 2026   Case Laws Income Tax
Compensatory interest and business advances upheld as allowable; cash payment and unexplained credit additions were rejected.
April 22, 2026   Case Laws Income Tax
ITBA upload of DRP directions starts limitation for final assessment; delayed orders are time-barred and quashed.
April 22, 2026   Case Laws Income Tax
Transfer pricing comparability adjustments turned on foreign exchange, customs duty, liability write-back and cash PLI methodology.
April 22, 2026   Case Laws Income Tax
Transfer pricing characterization and FAR analysis required fresh review before selecting the most appropriate method.
April 22, 2026   Case Laws Income Tax
Transfer pricing on interest-free group loans fails where business has not commenced and no income was earned.
April 22, 2026   Case Laws Income Tax
Export incentives count as operating revenue; working capital adjustment and section 80G relief for CSR donation allowed.
April 22, 2026   Case Laws Income Tax
Aggregated TNMM accepted for linked transactions, with nil ALP and separate receivables adjustment both rejected.
April 22, 2026   Case Laws Customs
RoDTEP eligibility for restricted sugar exports cannot be denied where exports were made under permitted quota and approval.
April 22, 2026   Case Laws Customs
Reasoned order required on refund interest claim; omission to address accrued interest showed non-application of mind.
April 22, 2026   Case Laws Customs
Binding precedent and seat-part classification control: seat-mechanism components remained parts of seats, not motor-vehicle accessories.
April 22, 2026   Case Laws Customs
Untested customs statements cannot sustain rejection of transaction value without mandatory section 138B compliance.
April 22, 2026   Case Laws Customs
Electronic evidence, customs valuation and undervaluation findings upheld; separate penalties for document suppression were set aside.
April 22, 2026   Case Laws Customs
DFIA exemption for non-sensitive inputs applies without technical correlation, but only on strict conformity with licence conditions.
April 22, 2026   Case Laws IBC
Admitted homebuyer claims cannot be reopened after plan approval; resolution applicants must honour crystallised liabilities and hand over possession.
April 22, 2026   Case Laws IBC
Condonation of refiling delay refused where repeated defects, lack of diligence and vague explanations defeated the appeal against resolution plan approval.

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Indian Laws

The Negotiable Instruments Act, 1881 was enacted to define and...

Cheque Dishonor Penalties Under Negotiable Instruments Act Upheld; Civil Remedies Unaffected by Money Lenders Act.

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Indian Laws October 18, 2024 Case Laws HC
The Negotiable Instruments Act, 1881 was enacted to define and amend laws relating to promissory notes, bills of exchange, and cheques. Section 138, introduced through the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988, provides penalties for dishonor of cheques due to insufficient funds. Subsequent amendments aimed to expedite cases through summary trials and make offenses compoundable. The Supreme Court highlighted the objective of instilling faith in banking operations and preventing dishonesty in drawing cheques without sufficient funds. The Bengal Money Lenders Act, 1940 and Chapter XVII of the Negotiable Instruments Act operate independently with distinct objectives. There is no conflict between provisions, and civil remedies for unlicensed money lenders are not barred by criminal penalties u/s 138. The High Court dismissed the revision application, finding no merit in claims of abuse of process.
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Acts Income Tax
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