TaxGuru.in - Daily Newsletter

SEBI | Converting a Privately Placed InvIT into a Publicly offered InvIT: Is Trust Deed Ready?

Makarand M Joshi & Co., Company Secretaries - MMJC — Thu, 10 Sep 2026 13:39:59 +0000

Key trust deed amendments, approvals and governance changes when converting a privately placed InvIT into a publicly offered InvIT.

The post Converting a Privately Placed InvIT into a Publicly offered InvIT: Is Trust Deed Ready? appeared first on TaxGuru.

Fema / RBI | RBI Proposes Ban on Revolving Credit Products for Most NBFCs

Kartik Sharma FCA — Thu, 10 Sep 2026 13:30:03 +0000

RBI proposes restricting NBFCs to term loans, banning revolving credit products, while FIDC seeks safeguards for limited redraws.

The post RBI Proposes Ban on Revolving Credit Products for Most NBFCs appeared first on TaxGuru.

Company Law | MCA Annual Filing: AOC-4 and MGT-7 Compliance Guide

Compliance Calendar LLP — Thu, 10 Sep 2026 13:13:20 +0000

MCA Annual Filing covers AOC-4 and MGT-7, their documents, due dates, disclosures, compliance requirements and key differences under Companies Act, 2013.

The post MCA Annual Filing: AOC-4 and MGT-7 Compliance Guide appeared first on TaxGuru.

Corporate Law | AGM Venue Anywhere in India for Unlisted Companies under Section 96

CS Mayur Mazumdar — Thu, 10 Sep 2026 13:11:51 +0000

Section 96(2) permits unlisted companies to hold AGMs anywhere in India with advance consent of all members, subject to statutory conditions.

The post AGM Venue Anywhere in India for Unlisted Companies under Section 96 appeared first on TaxGuru.

Corporate Law | Anti-Dilution Clauses in Indian Venture Capital: Legal & Commercial Dimensions

saumya tomar — Thu, 10 Sep 2026 13:09:03 +0000

Anti-dilution clauses in Indian VC agreements: legal, tax, FEMA, governance, valuation, investor protection and founder dilution implications.

The post Anti-Dilution Clauses in Indian Venture Capital: Legal & Commercial Dimensions appeared first on TaxGuru.

Income Tax | ITAT Nagpur Deletes Jewellery Addition and Rejects Retrospective Section 115BBE Tax

CA Vijayakumar Shetty — Thu, 10 Sep 2026 13:03:27 +0000

ITAT Nagpur deletes jewellery addition u/s 69A and holds enhanced Section 115BBE rate inapplicable to pre-amendment search.

The post ITAT Nagpur Deletes Jewellery Addition and Rejects Retrospective Section 115BBE Tax appeared first on TaxGuru.

Goods and Services Tax | GST Treatment and Companies Act Compliance for Inter-Corporate Loans

CS Mayur Mazumdar — Thu, 10 Sep 2026 13:02:47 +0000

GST treatment of inter-corporate loans, including interest-free loans, Rule 28 valuation, ITC reversal and Companies Act Sections 185 and 186.

The post GST Treatment and Companies Act Compliance for Inter-Corporate Loans appeared first on TaxGuru.

Goods and Services Tax | How to Fix GST Credit Note Rejection and GSTR-3B Mismatch

RAJAGOPAL K — Thu, 10 Sep 2026 12:51:34 +0000

Learn how to correct rejected GST credit notes through GSTR-1A or Table 9C and clear the resulting GSTR-3B mismatch.

The post How to Fix GST Credit Note Rejection and GSTR-3B Mismatch appeared first on TaxGuru.

Corporate Law | Supreme Court Acquits Accused as Pecuniary Advantage Not Proved Under PC Act

CA Vijayakumar Shetty — Thu, 10 Sep 2026 12:46:32 +0000

Supreme Court acquits accused under Section 13(1)(d) PC Act where no pecuniary advantage was proved despite alleged false medicine bills.

The post Supreme Court Acquits Accused as Pecuniary Advantage Not Proved Under PC Act appeared first on TaxGuru.

Income Tax | ITAT Delhi Deletes Rs 60 Lakh Marriage Expenditure Addition for Lack of Evidence

CA Ajay Kumar Agrawal — Thu, 10 Sep 2026 12:40:18 +0000

ITAT Delhi deleted Rs 60 lakh Section 69C addition for alleged marriage expenditure as FIR and TEP lacked supporting enquiry or evidence.

The post ITAT Delhi Deletes Rs 60 Lakh Marriage Expenditure Addition for Lack of Evidence appeared first on TaxGuru.

Income Tax | Notice to Firm Sufficient for Recovery of Firm Property: Madras High Court

CA Vijayakumar Shetty — Thu, 10 Sep 2026 12:37:54 +0000

Madras HC holds notice to firm sufficient for recovery against firm property, while individual partner notice is required for personal assets.

The post Notice to Firm Sufficient for Recovery of Firm Property: Madras High Court appeared first on TaxGuru.

Corporate Law | Supreme Court Holds Arbitrator Must Decide Termination as Excepted Matter Under Section 16

CA Vijayakumar Shetty — Thu, 10 Sep 2026 12:23:58 +0000

Supreme Court clarifies that arbitrability of contract termination must first be decided by the Arbitral Tribunal under Section 16.

The post Supreme Court Holds Arbitrator Must Decide Termination as Excepted Matter Under Section 16 appeared first on TaxGuru.

SEBI | SEBI Must Prove Buyback Fraud Beyond Suspicious Trading Patterns; SAT Gets Fresh Inquiry

CA Vijayakumar Shetty — Thu, 10 Sep 2026 12:15:33 +0000

Supreme Court holds escrow release under Buyback Regulation 15B(8) does not bar PFUTP fraud inquiry and remands fraud issue to SAT.

The post SEBI Must Prove Buyback Fraud Beyond Suspicious Trading Patterns; SAT Gets Fresh Inquiry appeared first on TaxGuru.

Goods and Services Tax | GST Section 61 Scrutiny: What Proper Officer Can and Cannot Examine

Aijaz Hussain Malik, JKAS, STO — Thu, 10 Sep 2026 11:57:58 +0000

Understand GST Section 61 scrutiny, Rule 99, ASMT-10, supporting documents, GSTR-9C, audit and limits on departmental examination.

The post GST Section 61 Scrutiny: What Proper Officer Can and Cannot Examine appeared first on TaxGuru.

Corporate Law | Supreme Court Upholds Arbitration Clause in Personal Guarantees Integrated with Loan Agreements

CA Vijayakumar Shetty — Thu, 10 Sep 2026 11:38:33 +0000

Supreme Court holds arbitration clause incorporated into personal guarantees forming an integral part of interconnected loan agreements.

The post Supreme Court Upholds Arbitration Clause in Personal Guarantees Integrated with Loan Agreements appeared first on TaxGuru.

Corporate Law | FR 56(j) Retirement Quashed for Arbitrariness and Malice in Law: Supreme Court

CA Vijayakumar Shetty — Thu, 10 Sep 2026 11:35:05 +0000

Supreme Court quashes FR 56(j) compulsory retirement for arbitrariness and malice in law, granting service benefits, notional promotion and compensation.

The post FR 56(j) Retirement Quashed for Arbitrariness and Malice in Law: Supreme Court appeared first on TaxGuru.

Income Tax | Delhi ITAT Deletes Wrong PAN Tax Demand After Condoning 4,442-Day Delay

CA Vijayakumar Shetty — Thu, 10 Sep 2026 11:09:51 +0000

Delhi ITAT deletes tax demand wrongly raised from another person’s return after condoning a 4,442-day delay caused by a PAN mismatch.

The post Delhi ITAT Deletes Wrong PAN Tax Demand After Condoning 4,442-Day Delay appeared first on TaxGuru.

Corporate Law | NOIDA Cannot Deny Zero Period Relief Due to Inadequate Commercial Access: SC

CA Vijayakumar Shetty — Thu, 10 Sep 2026 10:55:32 +0000

Supreme Court holds that some physical access does not defeat Zero Period relief where NOIDA failed to provide promised commercial access.

The post NOIDA Cannot Deny Zero Period Relief Due to Inadequate Commercial Access: SC appeared first on TaxGuru.

Income Tax | Delhi ITAT Upholds Quashing of Time-Barred Section 153C Assessment

CA Vijayakumar Shetty — Thu, 10 Sep 2026 10:46:33 +0000

Delhi ITAT upholds annulment of AY 2010-11 assessment after Delhi High Court quashed the foundational section 153C notice as time-barred.

The post Delhi ITAT Upholds Quashing of Time-Barred Section 153C Assessment appeared first on TaxGuru.

Income Tax | Dissolved Firm’s Land Must Be Liquidated Before Partner’s Share Is Settled: SC

CA Vijayakumar Shetty — Thu, 10 Sep 2026 10:39:42 +0000

Supreme Court holds that a partner’s share in unliquidated partnership assets cannot be frozen at the 1983 dissolution value.

The post Dissolved Firm’s Land Must Be Liquidated Before Partner’s Share Is Settled: SC appeared first on TaxGuru.

Income Tax | Delhi ITAT Quashes Reassessment for PCIT Approval Instead of PCCIT under Section 151

CA Vijayakumar Shetty — Thu, 10 Sep 2026 10:24:50 +0000

Delhi ITAT quashes AY 2016-17 reassessment after PCIT, instead of PCCIT, granted section 151 approval for notice issued beyond three years.

The post Delhi ITAT Quashes Reassessment for PCIT Approval Instead of PCCIT under Section 151 appeared first on TaxGuru.

Income Tax | ITAT Allows Section 57 Deduction for Rent and Maintenance on Sublet Property

CA Vijayakumar Shetty — Thu, 10 Sep 2026 10:18:41 +0000

Delhi ITAT allows rent, repairs and caretaker expenses u/s 57 against subletting income, partly allowing Suman Devi’s appeal for AY 2023-24.

The post ITAT Allows Section 57 Deduction for Rent and Maintenance on Sublet Property appeared first on TaxGuru.

Income Tax | ITAT Allows Section 87A Rebate on STCG u/s 111A for AY 2025-26

CA Vijayakumar Shetty — Thu, 10 Sep 2026 10:09:50 +0000

Delhi ITAT allows ₹25,000 Section 87A rebate against STCG u/s 111A for AY 2025-26, holding later Finance Act 2025 restriction prospective.

The post ITAT Allows Section 87A Rebate on STCG u/s 111A for AY 2025-26 appeared first on TaxGuru.

Corporate Law | State-Funded Free Travel Scheme Not Prima Facie Abuse of Dominance: CCI

CA Sandeep Kanoi — Thu, 10 Sep 2026 10:01:11 +0000

CCI closes Case No. 27 of 2026, holding Kerala’s state-funded free travel scheme does not prima facie contravene Section 4.

The post State-Funded Free Travel Scheme Not Prima Facie Abuse of Dominance: CCI appeared first on TaxGuru.

Income Tax | Section 153C Clock Starts on Receipt of Seized Material: ITAT Delhi

CA Vijayakumar Shetty — Thu, 10 Sep 2026 09:55:43 +0000

ITAT Delhi held Section 153C assessment for AY 2014-15 invalid as the six-year block ran from receipt of seized material and ₹50 lakh threshold was not met.

The post Section 153C Clock Starts on Receipt of Seized Material: ITAT Delhi appeared first on TaxGuru.

Corporate Law | CCPA Penalises Zen Restaurant for Default Service Charge Levy

CA Sandeep Kanoi — Thu, 10 Sep 2026 09:53:31 +0000

CCPA finds Zen Restaurant violated consumer rights by automatically levying service charge and imposes ₹10,000 penalty.

The post CCPA Penalises Zen Restaurant for Default Service Charge Levy appeared first on TaxGuru.

Goods and Services Tax | Section 122(1A) CGST Act: Prospective or Retrospective?

Adv Rakesh Singh — Thu, 10 Sep 2026 09:48:44 +0000

Bombay, Delhi and Gauhati High Courts differ on whether the penalty under Section 122(1A) of the CGST Act applies to transactions before 1 January 2021.

The post Section 122(1A) CGST Act: Prospective or Retrospective? appeared first on TaxGuru.

Corporate Law | IRDAI Facilitates Ind AS Implementation; 11 Insurers Adopt Ind AS from FY 2026-27

Editor — Thu, 10 Sep 2026 09:38:46 +0000

IRDAI facilitates implementation of Ind AS across the insurance sector, with 11 insurers adopting Ind AS from FY 2026-27 and three insurers submitting Q1 financial numbers under the new framework.

The post IRDAI Facilitates Ind AS Implementation; 11 Insurers Adopt Ind AS from FY 2026-27 appeared first on TaxGuru.

Corporate Law | IBBI Circular on Due Diligence by Insolvency Professionals Regarding Misuse of IBC Framework

Editor — Thu, 10 Sep 2026 09:38:17 +0000

IBBI Circular No. IBBI/CIRP/105/2026 dated 9 September 2026 directs Insolvency Professionals to undertake due diligence and further enquiry where indicators suggest misuse of the IBC framework for fraudulent or malicious purposes.

The post IBBI Circular on Due Diligence by Insolvency Professionals Regarding Misuse of IBC Framework appeared first on TaxGuru.

Income Tax | ITAT Pune condones delay and remands appeal to CIT(A) for fresh adjudication

CA Sandeep Kanoi — Thu, 10 Sep 2026 09:36:49 +0000

ITAT Pune condones delay as reasonable cause, sets aside CIT(A) order and remands all issues for fresh adjudication with a hearing opportunity.

The post ITAT Pune condones delay and remands appeal to CIT(A) for fresh adjudication appeared first on TaxGuru.

Income Tax | Delhi ITAT Invalidates Reassessment and Deletes ₹46.48 Lakh Commission Addition

CA Vijayakumar Shetty — Thu, 10 Sep 2026 09:35:16 +0000

Delhi ITAT invalidates reassessment where ₹23.24 crore bank credits lacked material support for accommodation-entry commission of ₹46.48 lakh.

The post Delhi ITAT Invalidates Reassessment and Deletes ₹46.48 Lakh Commission Addition appeared first on TaxGuru.

Custom Duty | Two SCNs Retain Separate Legal Identity Despite Common Investigation: Delhi HC

Bimal Jain — Thu, 10 Sep 2026 09:32:40 +0000

Delhi High Court holds that separate SCNs retain independent legal identity and a stay in one proceeding does not bar adjudication of another.

The post Two SCNs Retain Separate Legal Identity Despite Common Investigation: Delhi HC appeared first on TaxGuru.

Income Tax | Delhi ITAT Deletes Section 68/69A Addition Based on Third-Party Opening Balance

CA Vijayakumar Shetty — Thu, 10 Sep 2026 09:25:46 +0000

Delhi ITAT deletes ₹2,57,115 addition, holding a third-party opening balance cannot establish taxable income without proving its date and nature.

The post Delhi ITAT Deletes Section 68/69A Addition Based on Third-Party Opening Balance appeared first on TaxGuru.

Income Tax | Section 139(8a) To 263(6): Did Updated Return Regime Actually Change?

Pari Tayal — Thu, 10 Sep 2026 09:22:43 +0000

Examines the shift from Section 139(8A) to 263(6), post-notice updated returns, additional tax, penalty protection and reassessment proceedings.

The post Section 139(8a) To 263(6): Did Updated Return Regime Actually Change? appeared first on TaxGuru.

Income Tax | Delhi ITAT Quashes AY 2017-18 Reassessment as Time-Barred Under Section 149

CA Vijayakumar Shetty — Thu, 10 Sep 2026 09:07:13 +0000

Delhi ITAT quashes AY 2017-18 reassessment, holding the first proviso to section 149 barred revival of a year already time-barred under old law.

The post Delhi ITAT Quashes AY 2017-18 Reassessment as Time-Barred Under Section 149 appeared first on TaxGuru.

Income Tax | Delhi ITAT Dismisses Revenue Appeal as AY 2010-11 Falls Outside Section 153C

CA Vijayakumar Shetty — Thu, 10 Sep 2026 08:53:11 +0000

Delhi ITAT dismisses Revenue appeal, holding AY 2010-11 fell outside the ten-year Section 153C block and notice was barred after 01.04.2021.

The post Delhi ITAT Dismisses Revenue Appeal as AY 2010-11 Falls Outside Section 153C appeared first on TaxGuru.

Income Tax | Annual Crisis of 30th September Tax Audit Deadline

CA Amresh Vashisht — Thu, 10 Sep 2026 08:52:05 +0000

Repeated extensions of the 30 September tax-audit deadline expose a compliance-design problem and support one realistic common deadline.

The post Annual Crisis of 30th September Tax Audit Deadline appeared first on TaxGuru.

Income Tax | ITAT Condones 163-Day Delay and Remands Section 69A Assessment for Fresh Adjudication

CA Sandeep Kanoi — Thu, 10 Sep 2026 08:49:06 +0000

ITAT Indore condoned 163-day delay and remanded the section 69A assessment and related penalties to the AO for fresh adjudication on merits.

The post ITAT Condones 163-Day Delay and Remands Section 69A Assessment for Fresh Adjudication appeared first on TaxGuru.

Corporate Law | Allahabad HC Rejects Bail Application of Maulana Tauqeer Raza Khan

Sanjeev Sirohi — Thu, 10 Sep 2026 08:37:38 +0000

Allahabad High Court rejects Maulana Tauqeer Raza Khan’s bail plea over Bareilly violence, unlawful assembly, provocative slogans and damage to public property.

The post Allahabad HC Rejects Bail Application of Maulana Tauqeer Raza Khan appeared first on TaxGuru.

Income Tax | 153C Notice Quashed as Deemed Search Date Fell After Cut-off: Delhi ITAT

CA Vijayakumar Shetty — Thu, 10 Sep 2026 08:32:38 +0000

Delhi ITAT quashes section 153C notice and assessment after holding deemed search date fell after 01.04.2021.

The post 153C Notice Quashed as Deemed Search Date Fell After Cut-off: Delhi ITAT appeared first on TaxGuru.

Income Tax | Section 153C Assessments Quashed as Deemed Search Date Fell After 01.04.2021 by Delhi ITAT

CA Vijayakumar Shetty — Thu, 10 Sep 2026 08:14:50 +0000

Delhi ITAT quashes seven Section 153C assessments after holding the deemed search date fell after 01.04.2021 and Section 153C(3) barred proceedings.

The post Section 153C Assessments Quashed as Deemed Search Date Fell After 01.04.2021 by Delhi ITAT appeared first on TaxGuru.

Income Tax | Mumbai ITAT Quashes Reassessment for Pre-Return 143(2) Notice, Deletes ₹2 Crore Section 68 Addition

CA Vijayakumar Shetty — Thu, 10 Sep 2026 08:02:57 +0000

Mumbai ITAT quashes reassessment where 143(2) notice preceded the return and deletes ₹2 crore section 68 addition on unsecured loans.

The post Mumbai ITAT Quashes Reassessment for Pre-Return 143(2) Notice, Deletes ₹2 Crore Section 68 Addition appeared first on TaxGuru.

Income Tax | Penny-Stock LTCG Addition Deleted Without Assessee-Specific Evidence: ITAT Delhi

CA Vijayakumar Shetty — Thu, 10 Sep 2026 07:45:49 +0000

Delhi ITAT deleted ₹27.83 lakh LTCG addition & consequential commission addition for lack of evidence linking assessee to price rigging.

The post Penny-Stock LTCG Addition Deleted Without Assessee-Specific Evidence: ITAT Delhi appeared first on TaxGuru.

Income Tax | Delhi ITAT Holds NOIDA Lease Rent TDS Liable, Remands Section 201 Default

CA Vijayakumar Shetty — Thu, 10 Sep 2026 07:25:39 +0000

Delhi ITAT holds lease rent to NOIDA, Greater NOIDA and YEIDA liable to TDS u/s 194-I, but remands section 201 default for proviso verification.

The post Delhi ITAT Holds NOIDA Lease Rent TDS Liable, Remands Section 201 Default appeared first on TaxGuru.

Income Tax | ITAT Delhi Restricts Contractor Expense Disallowance from 30% to 5%

CA Vijayakumar Shetty — Thu, 10 Sep 2026 07:16:05 +0000

ITAT Delhi holds 30% contractor expense disallowance ad hoc and excessive, restricting disallowance to 5% where payments remained unverifiable.

The post ITAT Delhi Restricts Contractor Expense Disallowance from 30% to 5% appeared first on TaxGuru.

Income Tax | PCIT Lacks Section 263 Jurisdiction Over Issue Decided in Appeal: ITAT Mumbai

CA Vijayakumar Shetty — Thu, 10 Sep 2026 07:08:13 +0000

ITAT Mumbai quashes section 263 revision where CIT(A) had already considered and decided the same issue, holding the PCIT lacked revisionary jurisdiction.

The post PCIT Lacks Section 263 Jurisdiction Over Issue Decided in Appeal: ITAT Mumbai appeared first on TaxGuru.

Income Tax | ITAT Mumbai Deletes ₹3.77 Lakh Property Addition Under Section 56(2)(vii)(b)

CA Vijayakumar Shetty — Thu, 10 Sep 2026 06:59:24 +0000

ITAT Mumbai deletes ₹3.77 lakh addition u/s 56(2)(vii)(b), holding the 10% tolerance band curative and retrospectively applicable to AY 2017-18.

The post ITAT Mumbai Deletes ₹3.77 Lakh Property Addition Under Section 56(2)(vii)(b) appeared first on TaxGuru.

Income Tax | Delhi ITAT Deletes ₹43.80 Lakh Addition After Assessee Proves Loan Sources

CA Vijayakumar Shetty — Thu, 10 Sep 2026 06:50:49 +0000

Delhi ITAT deletes ₹43.80 lakh unexplained investment addition after assessee furnished lender confirmations, PAN, ITRs and bank statements.

The post Delhi ITAT Deletes ₹43.80 Lakh Addition After Assessee Proves Loan Sources appeared first on TaxGuru.

Income Tax | Goodwill from Slump Sale Eligible for Depreciation for AY 2016-17: ITAT Mumbai

CA Vijayakumar Shetty — Thu, 10 Sep 2026 06:38:09 +0000

ITAT Mumbai allows ₹54.84 lakh depreciation on goodwill arising from a slump-sale acquisition and deletes the consequential MAT addition for AY 2016-17.

The post Goodwill from Slump Sale Eligible for Depreciation for AY 2016-17: ITAT Mumbai appeared first on TaxGuru.

Income Tax | ITAT Delhi Allows ₹13.93 Lakh Leave Encashment Exemption Under ₹25 Lakh Limit

CA Vijayakumar Shetty — Thu, 10 Sep 2026 06:22:04 +0000

ITAT Delhi allows full ₹13.93 lakh leave encashment exemption under section 10(10AA), applying the ₹25 lakh CBDT limit for AY 2020-21.

The post ITAT Delhi Allows ₹13.93 Lakh Leave Encashment Exemption Under ₹25 Lakh Limit appeared first on TaxGuru.

Income Tax | Mumbai ITAT Restores 12AB Renewal Application for Fresh Opportunity to Furnish Documents

CA Vijayakumar Shetty — Thu, 10 Sep 2026 06:10:42 +0000

Mumbai ITAT restores 12AB renewal application for fresh adjudication after missed email notice, directing sufficient opportunity to furnish documents.

The post Mumbai ITAT Restores 12AB Renewal Application for Fresh Opportunity to Furnish Documents appeared first on TaxGuru.

Income Tax | Mumbai ITAT Rejects Wing-Wise Taxation, Upholds Project Completion Method for Integrated Project

CA Vijayakumar Shetty — Thu, 10 Sep 2026 05:54:54 +0000

Mumbai ITAT upholds deletion of ₹7.86 crore addition, holding profit from one wing cannot be separately taxed where the project is integrated.

The post Mumbai ITAT Rejects Wing-Wise Taxation, Upholds Project Completion Method for Integrated Project appeared first on TaxGuru.

Income Tax | Delhi HC Rejects Stay, Directs Release of Seized Cash After Assessment

CA Vijayakumar Shetty — Thu, 10 Sep 2026 05:41:16 +0000

Delhi HC rejects Revenue stay and directs release of ₹17.66 crore seized cash after searched person’s assessment extinguished the Section 132B charge.

The post Delhi HC Rejects Stay, Directs Release of Seized Cash After Assessment appeared first on TaxGuru.

Income Tax | Wrong Section 151(ii) Authority Vitiates Reassessment: ITAT Mumbai

CA Vijayakumar Shetty — Thu, 10 Sep 2026 05:32:12 +0000

ITAT Mumbai quashes AY 2017-18 reassessment after finding PCIT approval invalid under section 151(ii); section 148A(d) order and section 148 notice quashed.

The post Wrong Section 151(ii) Authority Vitiates Reassessment: ITAT Mumbai appeared first on TaxGuru.

Corporate Law | Confidentiality Clauses as Non-Compete: Limits of Post-Employment Restraints

Divyanshu Suman — Thu, 10 Sep 2026 03:54:18 +0000

Can confidentiality clauses become disguised non-competes? Examine Section 27 and Indian courts’ approach to employee mobility and trade secrets.

The post Confidentiality Clauses as Non-Compete: Limits of Post-Employment Restraints appeared first on TaxGuru.

Goods and Services Tax | When Can GST Officers Visit Business Premises? GST Powers Explained

CA VARUN GUPTA — Thu, 10 Sep 2026 03:41:16 +0000

Understand when GST officers can visit business premises, covering Rule 25, audit, access, inspection, search, seizure and test purchase powers.

The post When Can GST Officers Visit Business Premises? GST Powers Explained appeared first on TaxGuru.

Goods and Services Tax | GST Registration Cancellation: Reasons, Procedure, Retrospective Impact & Compliance

CA VARUN GUPTA — Thu, 10 Sep 2026 03:39:46 +0000

Understand GST registration cancellation, key reasons, procedure, retrospective effect, ITC, closing stock liability, GSTR-10 and revocation.

The post GST Registration Cancellation: Reasons, Procedure, Retrospective Impact & Compliance appeared first on TaxGuru.

Corporate Law | Employee Transfer Risks in Business Transfers: Section 73 and BTA Liabilities

Divyanshu Suman — Wed, 09 Sep 2026 19:26:20 +0000

Business transfers may not automatically transfer employment relationships. Examine Section 73, employee continuity, BTA drafting and employment liabilities.

The post Employee Transfer Risks in Business Transfers: Section 73 and BTA Liabilities appeared first on TaxGuru.

Company Law | Private Limited Company Annual Compliance Checklist and Key Requirements

Compliance Calendar LLP — Wed, 09 Sep 2026 19:25:20 +0000

Complete annual compliance checklist for Private Limited Companies covering ROC filings, tax returns, GST, meetings, KYC and statutory records.

The post Private Limited Company Annual Compliance Checklist and Key Requirements appeared first on TaxGuru.

Finance | Equity Investment Ideas in India: Types, Benefits, Risks & Investment Process

Soumyaranjan Adhikary — Wed, 09 Sep 2026 19:20:28 +0000

Understand equity investments in India, their types, benefits, risks, mutual funds, ETFs and key steps for beginner investors.

The post Equity Investment Ideas in India: Types, Benefits, Risks & Investment Process appeared first on TaxGuru.

Goods and Services Tax | Notebook GST Exemption Squeezes Indian MSMEs Amid Cheap ASEAN Imports

Legaldev — Wed, 09 Sep 2026 19:20:16 +0000

GST exemption on notebooks creates an inverted duty structure, hurting Indian MSMEs facing low-cost ASEAN imports.

The post Notebook GST Exemption Squeezes Indian MSMEs Amid Cheap ASEAN Imports appeared first on TaxGuru.

Company Law | AGM Extension for FY 2025-26: Section 96 & GNL-1 Guide

Chinki Singhal — Wed, 09 Sep 2026 19:11:49 +0000

For FY 2025-26, companies may seek up to 3 months' AGM extension under Section 96 by filing Form GNL-1 with the concerned ROC.

The post AGM Extension for FY 2025-26: Section 96 & GNL-1 Guide appeared first on TaxGuru.

Service Tax | CENVAT Credit Dispute Over Investment Management Remanded by CESTAT Mumbai

CA Sandeep Kanoi — Wed, 09 Sep 2026 18:38:32 +0000

CESTAT Mumbai rejects trading characterization of Tata Sons’ investment management, sets aside the order and remands CENVAT credit issues for reconsideration.

The post CENVAT Credit Dispute Over Investment Management Remanded by CESTAT Mumbai appeared first on TaxGuru.

Income Tax | ITAT Mumbai Deletes ₹62 Lakh On-Money Addition for Lack of Corroborative Evidence

CA Sandeep Kanoi — Wed, 09 Sep 2026 18:37:45 +0000

ITAT Mumbai deletes ₹62 lakh on-money addition under Section 69 where third-party statements and Excel entries lacked corroborative evidence.

The post ITAT Mumbai Deletes ₹62 Lakh On-Money Addition for Lack of Corroborative Evidence appeared first on TaxGuru.

Custom Duty | Supreme Court Remands Mittal Pigments Customs Classification Matter to CESTAT

CA Sandeep Kanoi — Wed, 09 Sep 2026 18:28:44 +0000

Supreme Court set aside CESTAT order in Mittal Pigments case for inadequate reasoning and restored the appeal for fresh disposal on merits.

The post Supreme Court Remands Mittal Pigments Customs Classification Matter to CESTAT appeared first on TaxGuru.

Custom Duty | Imported Lead Powder Classifiable as Lead Concentrate Under Heading 26070000: CESTAT Ahmedabad

Editor2 — Wed, 09 Sep 2026 18:25:17 +0000

CESTAT Ahmedabad held that imported lead material was classifiable as Lead Concentrate under Heading 26070000 and set aside the order classifying it as lead waste and scrap under Heading 78020090.

The post Imported Lead Powder Classifiable as Lead Concentrate Under Heading 26070000: CESTAT Ahmedabad appeared first on TaxGuru.

Custom Duty | Cloud Point Alone Cannot Justify Seizure of Distillate Marine Fuel: Gujarat HC

CA Sandeep Kanoi — Wed, 09 Sep 2026 18:24:23 +0000

Gujarat HC quashes seizure of Distillate Oil, holding cloud point and ambiguous test findings insufficient for classification as Automotive Diesel.

The post Cloud Point Alone Cannot Justify Seizure of Distillate Marine Fuel: Gujarat HC appeared first on TaxGuru.

Income Tax | Unaccounted Sales Not Entirely Profit; ITAT Applies 8%, Rejects Section 115BBE

CA Vijayakumar Shetty — Wed, 09 Sep 2026 18:22:07 +0000

ITAT Panaji taxed 8% profit on unaccounted bullion sales, sustained ₹48.54 lakh u/s 69A and remanded bank credits for verification.

The post Unaccounted Sales Not Entirely Profit; ITAT Applies 8%, Rejects Section 115BBE appeared first on TaxGuru.

Income Tax | ITAT Allows Full Section 57 Interest Deduction Beyond Interest Income

CA Vijayakumar Shetty — Wed, 09 Sep 2026 18:15:56 +0000

Mumbai ITAT holds Section 57 has no income-sized cap and allows entire interest expenditure where requisite nexus with other-source income is proved.

The post ITAT Allows Full Section 57 Interest Deduction Beyond Interest Income appeared first on TaxGuru.

Income Tax | ₹9.80 Crore Land Bought for ₹1.58 Crore: ITAT Taxes ₹8.23 Crore Benefit u/s 28(iv)

CA Vijayakumar Shetty — Wed, 09 Sep 2026 18:05:22 +0000

ITAT Bangalore held that land acquired below its evidenced value yielded a non-cash business benefit taxable under section 28(iv) for AY 2014-15.

The post ₹9.80 Crore Land Bought for ₹1.58 Crore: ITAT Taxes ₹8.23 Crore Benefit u/s 28(iv) appeared first on TaxGuru.

Custom Duty | CESTAT Rejects Chapter 78 Classification of Imported Lead-Bearing Material

CA Sandeep Kanoi — Wed, 09 Sep 2026 18:04:34 +0000

CESTAT Ahmedabad sets aside Chapter 78 classification, holding Revenue’s case unsustainable where samples primarily contained lead oxide and lead sulphate.

The post CESTAT Rejects Chapter 78 Classification of Imported Lead-Bearing Material appeared first on TaxGuru.

Income Tax | ITAT Delhi Deletes Section 69A Addition on Locker Cash

CA Sandeep Kanoi — Wed, 09 Sep 2026 18:03:45 +0000

ITAT Delhi deleted Section 69A addition on cash found in a locker, holding that recorded group cash of Rs. 3.69 crore could not be disregarded without contrary material.

The post ITAT Delhi Deletes Section 69A Addition on Locker Cash appeared first on TaxGuru.

Corporate Law | Exact Debt Quantification Not Required for Section 7 Admission: NCLAT

CA Sandeep Kanoi — Wed, 09 Sep 2026 18:02:58 +0000

NCLAT held that exact debt quantum need not be fixed at Section 7 admission stage where admitted debt exceeds the statutory threshold; appeal dismissed with costs.

The post Exact Debt Quantification Not Required for Section 7 Admission: NCLAT appeared first on TaxGuru.

Income Tax | ₹1.44 Crore Cash Deposits Claimed as Cycle Sales: ITAT Orders GST/VAT Record Verification

CA Vijayakumar Shetty — Wed, 09 Sep 2026 17:57:36 +0000

ITAT Bangalore remands ₹1.43 crore Section 69A addition, directing AO to verify VAT/GST returns and records supporting cash sales.

The post ₹1.44 Crore Cash Deposits Claimed as Cycle Sales: ITAT Orders GST/VAT Record Verification appeared first on TaxGuru.

Corporate Law | Section 10 IBC Application Dismissed for Non-Prosecution: NCLAT Delhi

CA Sandeep Kanoi — Wed, 09 Sep 2026 17:51:28 +0000

NCLAT Delhi upheld dismissal of a Section 10 IBC application for non-prosecution after the appellant failed to comply with directions to serve notice by Dasti.

The post Section 10 IBC Application Dismissed for Non-Prosecution: NCLAT Delhi appeared first on TaxGuru.

Income Tax | Reopening u/s 148 Quashed for Borrowed Satisfaction: Gujarat High Court

CA Sandeep Kanoi — Wed, 09 Sep 2026 17:49:57 +0000

Gujarat High Court quashes reopening under Section 148 of the Income Tax Act, holding that the Assessing Officer relied mechanically on information without forming an independent belief of income escapement.

The post Reopening u/s 148 Quashed for Borrowed Satisfaction: Gujarat High Court appeared first on TaxGuru.

Service Tax | CESTAT Bangalore Allows CENVAT Refund Despite Export Service and FIRC Objections

CA Sandeep Kanoi — Wed, 09 Sep 2026 17:19:59 +0000

CESTAT Bangalore allows CENVAT refund, holding that export status, nexus and limitation objections could not sustain rejection of the refund claim.

The post CESTAT Bangalore Allows CENVAT Refund Despite Export Service and FIRC Objections appeared first on TaxGuru.

Service Tax | CESTAT Chandigarh Allows CENVAT Refund Where Credit Was Not Challenged

CA Sandeep Kanoi — Wed, 09 Sep 2026 17:19:09 +0000

CESTAT Chandigarh allows ₹1.12 crore CENVAT refund, holding refund cannot be denied under Rule 5 where credit was not challenged under Rule 14.

The post CESTAT Chandigarh Allows CENVAT Refund Where Credit Was Not Challenged appeared first on TaxGuru.

Income Tax | Section 68 Cannot Turn Both Loan & Repayment Into Income: ITAT Mumbai

CA Vijayakumar Shetty — Wed, 09 Sep 2026 17:17:43 +0000

ITAT Mumbai allowed the assessee’s appeal where a loan was received and fully repaid in the same year, following its decision in Bhavana Suresh Chauhan.

The post Section 68 Cannot Turn Both Loan & Repayment Into Income: ITAT Mumbai appeared first on TaxGuru.

Service Tax | CESTAT Chandigarh Allows CENVAT Refund Despite SEZ Procedural Lapse

CA Sandeep Kanoi — Wed, 09 Sep 2026 17:13:57 +0000

CESTAT Chandigarh allows Guardian India’s CENVAT refund, holding input services eligible and procedural lapses cannot defeat substantive refund benefits.

The post CESTAT Chandigarh Allows CENVAT Refund Despite SEZ Procedural Lapse appeared first on TaxGuru.

Goods and Services Tax | Rajasthan HC Restores Delayed GST Appeal, Directs Decision on Merits

CA Sandeep Kanoi — Wed, 09 Sep 2026 16:35:30 +0000

Rajasthan High Court restores a delayed GST appeal and directs the Appellate Authority to decide it on merits.

The post Rajasthan HC Restores Delayed GST Appeal, Directs Decision on Merits appeared first on TaxGuru.

Custom Duty | One-Year EPR Registration Valid for Plastic Import Clearance: CBIC

editor7 — Wed, 09 Sep 2026 16:19:54 +0000

CBIC Instruction No. 15/2026-Customs directs Customs officers to verify EPR registration and accept one-year validity certificates as one-time registration certificates for plastic packaging import clearance.

The post One-Year EPR Registration Valid for Plastic Import Clearance: CBIC appeared first on TaxGuru.

Income Tax | CBDT Enables Income-Tax Information Sharing With Andhra Pradesh Government

editor7 — Wed, 09 Sep 2026 16:14:55 +0000

CBDT notifies Andhra Pradesh’s ITE&C Secretary and prescribes a mechanism for sharing taxpayer income-status flags for welfare schemes.

The post CBDT Enables Income-Tax Information Sharing With Andhra Pradesh Government appeared first on TaxGuru.

SEBI | SEBI Consultation Paper Proposes Stronger Governance Framework for MIIs

editor7 — Wed, 09 Sep 2026 16:06:53 +0000

SEBI proposes changes to MII director eligibility and SOPs for CTO, CISO, Compliance Officer and Chief Risk Officer appointments.

The post SEBI Consultation Paper Proposes Stronger Governance Framework for MIIs appeared first on TaxGuru.

SEBI | SEBI Revises Commodity Derivatives Position Limits and Penalties for Violations

Editor — Wed, 09 Sep 2026 16:03:50 +0000

SEBI revises commodity derivatives position limits, penalty provisions, Broad Commodity definition and client-level limits with immediate effect.

The post SEBI Revises Commodity Derivatives Position Limits and Penalties for Violations appeared first on TaxGuru.

Finance | FIU-IND Issues Non-Compliance Notices to 15 VDA Service Providers Under PMLA

Editor — Wed, 09 Sep 2026 16:03:20 +0000

FIU-IND issues non-compliance notices to 15 VDA SPs under PMLA and takedown notices for applications and URLs operating without compliance.

The post FIU-IND Issues Non-Compliance Notices to 15 VDA Service Providers Under PMLA appeared first on TaxGuru.

Goods and Services Tax | GSTAT Directs JC Appeals to Verify GST Documents and Pass Reasoned Order

CA Sandeep Kanoi — Wed, 09 Sep 2026 13:45:53 +0000

GSTAT holds JC (Appeals) cannot remand GST matters under Section 107(11) and directs fresh verification and decision by the appellate authority.

The post GSTAT Directs JC Appeals to Verify GST Documents and Pass Reasoned Order appeared first on TaxGuru.

Corporate Law | Whether Moratorium Under IBC Can Apply To Section 138 of NI Act Cases?

Dr. Sanjiv Agarwal — Wed, 09 Sep 2026 13:30:48 +0000

Supreme Court examines whether IBC Part III moratorium applies to Section 138 NI Act proceedings, distinguishing criminal and compensatory aspects and referring the issue to a Larger Bench.

The post Whether Moratorium Under IBC Can Apply To Section 138 of NI Act Cases? appeared first on TaxGuru.

SEBI | Listing Window Is Opening: Why InvITs & REITs Should Look at Public Listing Again

Makarand M Joshi & Co., Company Secretaries - MMJC — Wed, 09 Sep 2026 13:26:36 +0000

Wider investor participation, mutual fund access, tax changes and proposed foreign-investor routes make public listing worth reassessing for REITs and InvITs.

The post Listing Window Is Opening: Why InvITs & REITs Should Look at Public Listing Again appeared first on TaxGuru.

Income Tax | WhatsApp Messages Without Recovery of Cash Cannot Justify Section 69A Addition: ITAT Jaipur

CA Sandeep Kanoi — Wed, 09 Sep 2026 13:21:32 +0000

ITAT Jaipur deletes Rs. 24.20 lakh addition under Section 69A based on WhatsApp chats, holding that no cash or foreign currency was physically found and the alleged double addition was unsustainable.

The post WhatsApp Messages Without Recovery of Cash Cannot Justify Section 69A Addition: ITAT Jaipur appeared first on TaxGuru.

Income Tax | ITAT Mumbai Quashes Reassessment for Borrowed Satisfaction Based on Investigation Wing Information

CA Vijayakumar Shetty — Wed, 09 Sep 2026 13:18:53 +0000

ITAT Mumbai quashes reassessment u/s 147 where AO relied on Investigation Wing information without independent verification or furnishing relied-upon material.

The post ITAT Mumbai Quashes Reassessment for Borrowed Satisfaction Based on Investigation Wing Information appeared first on TaxGuru.

Income Tax | Section 142A Cannot Be Used to Artificially Extend Assessment Limitation: Gujarat HC

CA Ajay Kumar Agrawal — Wed, 09 Sep 2026 13:11:52 +0000

Gujarat High Court quashed the Assessing Officer’s Section 142A reference to the District Valuation Officer, holding that the reference made one day before limitation expired was a colourable exercise intended to extend the assessment period.

The post Section 142A Cannot Be Used to Artificially Extend Assessment Limitation: Gujarat HC appeared first on TaxGuru.

Income Tax | ITAT Delhi Quashes Retrospective 12AB Cancellation for Pre-2022 Violations

CA Ajay Kumar Agrawal — Wed, 09 Sep 2026 13:10:31 +0000

ITAT Delhi quashes retrospective 12AB registration cancellation, holding pre-2022 alleged violations cannot trigger the Finance Act 2022 regime.

The post ITAT Delhi Quashes Retrospective 12AB Cancellation for Pre-2022 Violations appeared first on TaxGuru.

Income Tax | ITAT Deletes Section 14A Additions Where Opening and Closing Investments Were Nil

CA Vijayakumar Shetty — Wed, 09 Sep 2026 13:00:27 +0000

ITAT deletes section 14A and section 41(1) additions and allows afforestation expenditure and 100% depreciation on temporary mine sheds.

The post ITAT Deletes Section 14A Additions Where Opening and Closing Investments Were Nil appeared first on TaxGuru.

Custom Duty | CAAR Delhi Classifies OPPO Tablet Back Cover Assembly with Battery Under CTH 8507

CA Sandeep Kanoi — Wed, 09 Sep 2026 12:53:17 +0000

CAAR Delhi holds OPPO’s tablet back cover assembly with battery classifiable under CTH 8507 60 00, not CTH 8473 30 99.

The post CAAR Delhi Classifies OPPO Tablet Back Cover Assembly with Battery Under CTH 8507 appeared first on TaxGuru.

Goods and Services Tax | Madras High Court Quashes GST Penalty After Late Fee Was Imposed

CA Sandeep Kanoi — Wed, 09 Sep 2026 12:49:10 +0000

Madras High Court sets aside GST penalty under Section 125 where late fee had already been imposed for delayed annual return filing.

The post Madras High Court Quashes GST Penalty After Late Fee Was Imposed appeared first on TaxGuru.

Corporate Law | NCLT Admits CIRP Against Zebyte on Finance Lease Financial Debt Finding

CA Sandeep Kanoi — Wed, 09 Sep 2026 12:47:54 +0000

NCLT Allahabad admits Section 7 IBC application, holding sale-and-leaseback arrangement a finance lease and financial debt with default above Rs.1 crore.

The post NCLT Admits CIRP Against Zebyte on Finance Lease Financial Debt Finding appeared first on TaxGuru.

Income Tax | ITAT Mumbai Sets Aside Section 263 Revision During IBC Moratorium

CA Vijayakumar Shetty — Wed, 09 Sep 2026 12:42:21 +0000

ITAT Mumbai sets aside section 263 revision passed during IBC moratorium, allowing revival after its cessation subject to applicable law.

The post ITAT Mumbai Sets Aside Section 263 Revision During IBC Moratorium appeared first on TaxGuru.

Corporate Law | Statutory Incorporation Does Not Bar Minority Status: Supreme Court

CA Sandeep Kanoi — Wed, 09 Sep 2026 12:34:46 +0000

Supreme Court overrules Azeez Basha rule and lays down tests for determining minority educational institution status under Article 30(1).

The post Statutory Incorporation Does Not Bar Minority Status: Supreme Court appeared first on TaxGuru.

Income Tax | ITAT Mumbai Deletes Section 68 Additions on Praveen Kumar Jain Group Loans

CA Vijayakumar Shetty — Wed, 09 Sep 2026 12:31:58 +0000

ITAT Mumbai upholds deletion of ₹3.94 crore and ₹90 lakh section 68 loan additions, finding investigation material lacked transaction-specific nexus.

The post ITAT Mumbai Deletes Section 68 Additions on Praveen Kumar Jain Group Loans appeared first on TaxGuru.