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    May 16, 2026   Case LawsBenami Property
    Unexplained cash can qualify as benami property under the PBPT Act despite proposed income-tax disclosure.
    May 16, 2026   Case LawsCustoms
    Contempt for post-judgment anti-dumping duty collection rejected after the court accepted inadvertent misinterpretation and noted refund steps.
    May 16, 2026   Case LawsCustoms
    Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
    May 16, 2026   Case LawsCustoms
    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 LawsCustoms
    Tariff classification dispute upheld for textile-based laminate goods, but confiscation and penalty were set aside.
    May 16, 2026   Case LawsCompanies Law
    Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
    May 16, 2026   Case LawsService Tax
    Separate billing for hotel rooms and meals supports distinct abatements, making the service tax demand and penalty unsustainable.
    May 16, 2026   Case LawsCentral Excise
    Body corporate falls within "person" under Rule 26, and penalty stands where goods were liable to confiscation.
    May 15, 2026   NotificationsDGFT
    Sugar export policy tightened to prohibited, with limited carve-outs for quota, authorisation, government-approved and pipeline consignments.
    May 15, 2026   NotificationsLabour laws
    Prosecution sanction authority under the Code on Social Security assigned to central labour officers for covered establishments.
    May 15, 2026   NotificationsIBC
    Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
    May 15, 2026   CircularsCustoms
    Customs circular validity extended to keep specified maritime relief measures in force amid Strait of Hormuz disruptions.
    May 15, 2026   CircularsCustoms
    Mandatory hazardous cargo declaration in Bills of Entry to trigger system flagging and faster customs clearance.
    May 15, 2026   CircularsFEMA
    RBI eases outward remittance tie-ups while imposing strict transparency, KYC, data privacy and fund-safeguarding duties on AD banks.
    May 15, 2026   Case LawsGST
    Capacity-based excise evasion allegations justified denial of bail where seized materials and statements showed prima facie concealment.
    May 15, 2026   Case LawsGST
    Speaking order requirement invalidated GST registration cancellation passed without reasons or proper application of mind.
    May 15, 2026   Case LawsGST
    Natural justice in limitation scrutiny requires an appellate authority to hear the appellant before dismissing a statutory appeal as time-barred.
    May 15, 2026   Case LawsGST
    Refund withholding fails where no interim restraint exists in the statutory appeal, requiring release of the deposited amount.
    May 15, 2026   Case LawsGST
    Composite GST assessment orders covering multiple tax periods cannot stand; separate proceedings are required for each assessment year.
    May 15, 2026   Case LawsGST
    Composite show-cause notice for multiple tax periods held impermissible; notice and adjudication set aside, with fresh proceedings allowed separately.
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    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.
    May 16, 2026   Case Laws Service Tax
    Separate billing for hotel rooms and meals supports distinct abatements, making the service tax demand and penalty unsustainable.
    May 16, 2026   Case Laws Central Excise
    Body corporate falls within "person" under Rule 26, and penalty stands where goods were liable to confiscation.
    May 15, 2026   Notifications DGFT
    Sugar export policy tightened to prohibited, with limited carve-outs for quota, authorisation, government-approved and pipeline consignments.
    May 15, 2026   Notifications Labour laws
    Prosecution sanction authority under the Code on Social Security assigned to central labour officers for covered establishments.
    May 15, 2026   Notifications IBC
    Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing director renewal.
    May 15, 2026   Circulars Customs
    Customs circular validity extended to keep specified maritime relief measures in force amid Strait of Hormuz disruptions.
    May 15, 2026   Circulars Customs
    Mandatory hazardous cargo declaration in Bills of Entry to trigger system flagging and faster customs clearance.
    May 15, 2026   Circulars FEMA
    RBI eases outward remittance tie-ups while imposing strict transparency, KYC, data privacy and fund-safeguarding duties on AD banks.
    May 15, 2026   Case Laws GST
    Capacity-based excise evasion allegations justified denial of bail where seized materials and statements showed prima facie concealment.
    May 15, 2026   Case Laws GST
    Speaking order requirement invalidated GST registration cancellation passed without reasons or proper application of mind.
    May 15, 2026   Case Laws GST
    Natural justice in limitation scrutiny requires an appellate authority to hear the appellant before dismissing a statutory appeal as time-barred.
    May 15, 2026   Case Laws GST
    Refund withholding fails where no interim restraint exists in the statutory appeal, requiring release of the deposited amount.
    May 15, 2026   Case Laws GST
    Composite GST assessment orders covering multiple tax periods cannot stand; separate proceedings are required for each assessment year.
    May 15, 2026   Case Laws GST
    Composite show-cause notice for multiple tax periods held impermissible; notice and adjudication set aside, with fresh proceedings allowed separately.

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      Home› Highlights › Income Tax › 2026 › April, 2026 › This
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      Income Tax

      Under TNMM, comparables engaged in trading of medical equipment...

      TNMM comparable selection in medical-equipment trading: functional similarity, RPT checks, and margin verification guided ITAT's approach.

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      Income TaxApril 29, 2026Case LawsAT
      Under TNMM, comparables engaged in trading of medical equipment were retained where product identity was not required and the assessee had not challenged the TPO's search keywords. MDD Medical Systems Pvt. Ltd. and RMD Mediaids Ltd. were not excluded on the basis of alleged support-services activity, research and development, or product dissimilarity because their financials indicated product sales and similar trading functions. QMS Medical Allied Services Pvt. Ltd. was not treated as an extraordinary-event comparable merely because of fresh capital infusion, although the Assessing Officer was directed to verify the margin computation. Hoya Medical India Pvt. Ltd. and Hicks Thermometer (India) Pvt. Ltd. were remitted for verification of RPT compliance, filters, and functional profile, with exclusion or inclusion to follow the verified results.
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