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    May 14, 2026   Case Laws Income Tax
    Reassessment notice validity and bogus purchase additions: ITAT upheld reopening, but remanded the purchase dispute for fresh verification.
    May 14, 2026   Case Laws Income Tax
    Mandatory prior intimation under section 143(1)(a) is required before denying concessional tax treatment in return processing.
    May 14, 2026   Case Laws Income Tax
    Search-linked reassessment and cross-examination requirements shape Section 68 scrutiny; reassessment upheld, additions remanded for fresh inquiry.
    May 14, 2026   Case Laws Income Tax
    Valid issuance of reassessment notice must be proved within limitation; section 292BB cannot cure a jurisdictional defect.
    May 14, 2026   Case Laws Income Tax
    Redevelopment flat exchange falls outside section 56(2)(x), so the deemed income addition was deleted in full.
    May 14, 2026   Case Laws Income Tax
    Indirect transfer taxation: offshore share sale not taxable in India, so no withholding obligation arose under the then-prevailing law.
    May 14, 2026   Case Laws Income Tax
    Appellate enhancement without procedure cannot introduce a new head of income after section 54F controversy is resolved.
    May 14, 2026   Case Laws Income Tax
    Cash payment disallowance under section 40A(3) sustained where the assessee failed to prove the Rule 6DD exception.
    May 14, 2026   Case Laws Income Tax
    Presumptive taxation and unexplained income: rice trading receipts taxed twice under section 69A were deleted, while unsupported salary claims failed.
    May 14, 2026   Case Laws Income Tax
    Accumulation exemption under section 11(2) cannot be claimed twice, and unutilised funds become deemed income under section 11(3).
    May 14, 2026   Case Laws Customs
    Unjust enrichment and refund of Extra Duty Deposit: loan-funded customs payment did not defeat refund, and delayed interest was payable.
    May 14, 2026   Case Laws Customs
    Inconclusive laboratory testing prevented final customs classification, leading to remand for fresh testing on all relevant parameters.
    May 14, 2026   Case Laws Customs
    Export drawback rules: unlocking mobile phones for overseas use is configuration, so misdeclaration, confiscation, and penalties fail.
    May 14, 2026   Case Laws IBC
    Certified copy requirement invalidates appeal institution when omitted, and delay condonation cannot cure the foundational defect.
    May 14, 2026   Case Laws IBC
    Court-process delay in uploading orders cannot prejudice compliance with service steps; dismissal for non-service was set aside.
    May 14, 2026   Case Laws FEMA
    Foreign exchange remittance for imports must be used or repatriated; third-party adjustments cannot cure FEMA contravention.
    May 14, 2026   Case Laws FEMA
    FEMA contravention and managing director liability sustained, but penalties reduced for proportionality.
    May 14, 2026   Case Laws Service Tax
    Works contract classification and threshold exemption defeated service tax demand, with extended limitation held unavailable.
    May 13, 2026   Notifications Customs
    Customs notification expands inland container depot coverage to Village Namli, Ratlam for import unloading and export loading.
    May 13, 2026   Case Laws GST
    Mandatory hearing before refund rejection requires authorities to consider a requested personal hearing and follow prescribed procedure.
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May 14, 2026   Case Laws Income Tax
Reassessment notice validity and bogus purchase additions: ITAT upheld reopening, but remanded the purchase dispute for fresh verification.
May 14, 2026   Case Laws Income Tax
Mandatory prior intimation under section 143(1)(a) is required before denying concessional tax treatment in return processing.
May 14, 2026   Case Laws Income Tax
Search-linked reassessment and cross-examination requirements shape Section 68 scrutiny; reassessment upheld, additions remanded for fresh inquiry.
May 14, 2026   Case Laws Income Tax
Valid issuance of reassessment notice must be proved within limitation; section 292BB cannot cure a jurisdictional defect.
May 14, 2026   Case Laws Income Tax
Redevelopment flat exchange falls outside section 56(2)(x), so the deemed income addition was deleted in full.
May 14, 2026   Case Laws Income Tax
Indirect transfer taxation: offshore share sale not taxable in India, so no withholding obligation arose under the then-prevailing law.
May 14, 2026   Case Laws Income Tax
Appellate enhancement without procedure cannot introduce a new head of income after section 54F controversy is resolved.
May 14, 2026   Case Laws Income Tax
Cash payment disallowance under section 40A(3) sustained where the assessee failed to prove the Rule 6DD exception.
May 14, 2026   Case Laws Income Tax
Presumptive taxation and unexplained income: rice trading receipts taxed twice under section 69A were deleted, while unsupported salary claims failed.
May 14, 2026   Case Laws Income Tax
Accumulation exemption under section 11(2) cannot be claimed twice, and unutilised funds become deemed income under section 11(3).
May 14, 2026   Case Laws Customs
Unjust enrichment and refund of Extra Duty Deposit: loan-funded customs payment did not defeat refund, and delayed interest was payable.
May 14, 2026   Case Laws Customs
Inconclusive laboratory testing prevented final customs classification, leading to remand for fresh testing on all relevant parameters.
May 14, 2026   Case Laws Customs
Export drawback rules: unlocking mobile phones for overseas use is configuration, so misdeclaration, confiscation, and penalties fail.
May 14, 2026   Case Laws IBC
Certified copy requirement invalidates appeal institution when omitted, and delay condonation cannot cure the foundational defect.
May 14, 2026   Case Laws IBC
Court-process delay in uploading orders cannot prejudice compliance with service steps; dismissal for non-service was set aside.
May 14, 2026   Case Laws FEMA
Foreign exchange remittance for imports must be used or repatriated; third-party adjustments cannot cure FEMA contravention.
May 14, 2026   Case Laws FEMA
FEMA contravention and managing director liability sustained, but penalties reduced for proportionality.
May 14, 2026   Case Laws Service Tax
Works contract classification and threshold exemption defeated service tax demand, with extended limitation held unavailable.
May 13, 2026   Notifications Customs
Customs notification expands inland container depot coverage to Village Namli, Ratlam for import unloading and export loading.
May 13, 2026   Case Laws GST
Mandatory hearing before refund rejection requires authorities to consider a requested personal hearing and follow prescribed procedure.

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GST

GST Council's 53rd meeting recommendations led to amendments in...

Insurance Premium Sharing Between Lead Insurers and Co-insurers Not GST Taxable Under Schedule III CGST Act

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GST January 29, 2025 Circulars
GST Council's 53rd meeting recommendations led to amendments in Schedule III of CGST Act, clarifying two key insurance transactions. First, co-insurance premium apportionment by lead insurers to co-insurers is neither goods nor services supply, provided lead insurer pays all applicable taxes on full premium. Second, ceding/reinsurance commission deducted from reinsurance premium similarly excluded, conditional on reinsurer paying taxes on gross premium including commission. These changes, effective from 01.11.2024, also include retrospective regularization from 01.07.2017 to 31.10.2024 on 'as is where is' basis, resolving historical tax treatment ambiguities in insurance sector transactions.
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Acts Income Tax
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