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    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
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    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.
    June 3, 2026   Case Laws Customs
    EPCG force majeure relief bars interest, confiscation and penalty where export obligation became impossible after lender auction.
    June 3, 2026   Case Laws Money Laundering
    PMLA execution order may be transmitted to local civil court for possession under a release order
    June 3, 2026   Case Laws Money Laundering
    Money laundering attachment sustained where ownership shifts and claimed sources were unsupported by documentary proof.
    June 3, 2026   Case Laws Money Laundering
    Money-laundering attachment upheld for fraudulent enhanced compensation and equivalent value property under the PMLA.
    June 3, 2026   Case Laws VAT / Sales Tax
    Inter-State sale requires prior contract of sale; post-agreement transfers were treated as consignment sales, not taxable sales.
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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.
June 3, 2026   Case Laws Customs
EPCG force majeure relief bars interest, confiscation and penalty where export obligation became impossible after lender auction.
June 3, 2026   Case Laws Money Laundering
PMLA execution order may be transmitted to local civil court for possession under a release order
June 3, 2026   Case Laws Money Laundering
Money laundering attachment sustained where ownership shifts and claimed sources were unsupported by documentary proof.
June 3, 2026   Case Laws Money Laundering
Money-laundering attachment upheld for fraudulent enhanced compensation and equivalent value property under the PMLA.
June 3, 2026   Case Laws VAT / Sales Tax
Inter-State sale requires prior contract of sale; post-agreement transfers were treated as consignment sales, not taxable sales.

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Home › Highlights › Customs › 2025 › February, 2025 › This
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Customs

MoF amended Notification 11/2021-Customs by exercising powers...

Finance Ministry Revises AIDC Rates: Bourbon Whiskey at 50%, Other Alcoholic Beverages Remain at 100% Under Section 25(1)

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Customs February 15, 2025 Notifications
MoF amended Notification 11/2021-Customs by exercising powers under s.25(1) of Customs Act 1962 and s.124 of Finance Act 2021. The amendment modifies Agriculture Infrastructure and Development Cess (AIDC) rates for alcoholic beverages. For bourbon whiskey (tariff items 2208 30 11 and 2208 30 91), AIDC is set at 50%, while other alcoholic beverages under headings 2204, 2205, 2206, and 2208 retain 100% AIDC rate. The notification took immediate effect upon issuance on February 13, 2025, implementing differential AIDC treatment for bourbon whiskey compared to other alcoholic beverages.
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Acts Income Tax
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