TaxGuru.in - Daily Newsletter

CESTAT Allows CENVAT Credit on Housekeeping, Construction, Courier & Insurance Services

CA Sandeep Kanoi — Thu, 30 Jul 2026 15:30:48 +0000

CESTAT allowed CENVAT credit on disputed input services, held substantial demand time-barred, and set aside demand, interest and penalty.

The post CESTAT Allows CENVAT Credit on Housekeeping, Construction, Courier & Insurance Services appeared first on TaxGuru.

Global Overhead Charges Not Taxable as Fees for Included Services: Mumbai ITAT

CA Sandeep Kanoi — Thu, 30 Jul 2026 15:15:45 +0000

ITAT deleted Section 40(a)(i) disallowance on global overhead charges, restricted Section 14A disallowance, remanded transfer pricing adjustment, and dismissed Revenue's appeal on TDS issues.

The post Global Overhead Charges Not Taxable as Fees for Included Services: Mumbai ITAT appeared first on TaxGuru.

ITAT Deletes TDS Demand on Stockist Discounts, ESOPs & MSME Interest

CA Sandeep Kanoi — Thu, 30 Jul 2026 15:00:43 +0000

ITAT held TDS provisions inapplicable on stockist discounts, ESOP grants and delayed payment interest to MSMEs, dismissing Revenue's appeal.

The post ITAT Deletes TDS Demand on Stockist Discounts, ESOPs & MSME Interest appeared first on TaxGuru.

CESTAT Sets Aside Service Tax Demand Based on ST-3 & Trial Balance Difference

CA Sandeep Kanoi — Thu, 30 Jul 2026 14:45:38 +0000

CESTAT set aside service tax demand, interest and penalty, holding that differences between ST-3 returns and trial balance alone cannot sustain demand.

The post CESTAT Sets Aside Service Tax Demand Based on ST-3 & Trial Balance Difference appeared first on TaxGuru.

ITC Benefit Must Be Passed Through Price Reduction, Not Free Construction: GSTAT

CA Sandeep Kanoi — Thu, 30 Jul 2026 14:22:45 +0000

GSTAT held additional construction work cannot replace price reduction under Section 171, directing payment of remaining ITC benefit with interest and penalty.

The post ITC Benefit Must Be Passed Through Price Reduction, Not Free Construction: GSTAT appeared first on TaxGuru.

ITC Benefit Must Be Passed Through Price Reduction, Not Free Upgrades: GSTAT

CA Sandeep Kanoi — Thu, 30 Jul 2026 14:21:43 +0000

GSTAT directed the builder to pass on ITC benefit with GST and interest, holding additional works cannot replace price reduction under Section 171.

The post ITC Benefit Must Be Passed Through Price Reduction, Not Free Upgrades: GSTAT appeared first on TaxGuru.

PFRDA Allows PoPs to Engage CBBOs and Co-op Societies as Pension Agents

Editor — Thu, 30 Jul 2026 14:19:26 +0000

PFRDA allows PoPs to engage CBBOs and registered Co-operative Societies as Pension Agents, subject to prescribed conditions and enhanced due diligence.

The post PFRDA Allows PoPs to Engage CBBOs and Co-op Societies as Pension Agents appeared first on TaxGuru.

SEBI Introduces GARUDA Mechanism to Expedite AIF Scheme Launch

Editor — Thu, 30 Jul 2026 14:18:43 +0000

SEBI launches the GARUDA mechanism, revising AIF PPM filing and scheme launch procedures, with immediate effect under the amended AIF Regulations.

The post SEBI Introduces GARUDA Mechanism to Expedite AIF Scheme Launch appeared first on TaxGuru.

ICAI Introduces Online Facility for Surrender of Examination Exemptions

Editor — Thu, 30 Jul 2026 14:18:18 +0000

ICAI has launched an online SSP facility to surrender examination exemptions, including Permanent Exemption, with cut-off dates for CA Intermediate and Final exams.

The post ICAI Introduces Online Facility for Surrender of Examination Exemptions appeared first on TaxGuru.

Income Tax Demand Cannot Be Through Computation Sheet: Bangalore ITAT

CA Vijayakumar Shetty — Thu, 30 Jul 2026 14:15:11 +0000

Bangalore ITAT quashed a tax demand raised through a computation sheet, holding it cannot exceed the findings recorded in the assessment order.

The post Income Tax Demand Cannot Be Through Computation Sheet: Bangalore ITAT appeared first on TaxGuru.

IPL-2 FEMA Case; Most Penalties Against BCCI, Lalit Modi & SBI Set Aside

CA Vijayakumar Shetty — Thu, 30 Jul 2026 14:11:51 +0000

SAFEMA Tribunal set aside most FEMA penalties in the IPL-2 remittance case, while sustaining a limited penalty for one specific remittance.

The post IPL-2 FEMA Case; Most Penalties Against BCCI, Lalit Modi & SBI Set Aside appeared first on TaxGuru.

Bogus Purchase deleted Addition Despite GST Investigation Report: Jodhpur ITAT

CA Vijayakumar Shetty — Thu, 30 Jul 2026 14:08:41 +0000

Jodhpur ITAT upheld deletion of a Section 69C addition, holding GST investigation alone could not sustain bogus purchase addition without independent enquiry.

The post Bogus Purchase deleted Addition Despite GST Investigation Report: Jodhpur ITAT appeared first on TaxGuru.

Money Received Before Crime Cannot Be Treated as Proceeds of Crime: SAFEMA

CA Vijayakumar Shetty — Thu, 30 Jul 2026 14:05:33 +0000

SAFEMA Tribunal set aside PMLA attachment, holding money received before the alleged crime period could not be treated as proceeds of crime.

The post Money Received Before Crime Cannot Be Treated as Proceeds of Crime: SAFEMA appeared first on TaxGuru.

ITAT Remands Section 69A Addition Over Mother-in-Law’s Liquor Business Cash

CA Vijayakumar Shetty — Thu, 30 Jul 2026 14:03:15 +0000

Bangalore ITAT restored a Section 69A addition for verification of the claim that bank deposits belonged to the assessee's mother-in-law's liquor business.

The post ITAT Remands Section 69A Addition Over Mother-in-Law’s Liquor Business Cash appeared first on TaxGuru.

Bank Attachment Valid Where Transactions Involve Fictitious Entity: SAFEMA

CA Vijayakumar Shetty — Thu, 30 Jul 2026 14:02:50 +0000

SAFEMA Tribunal upheld benami attachment, holding fictitious entity transactions justified attachment of the beneficial owner's bank funds under Section 2(9)(B).

The post Bank Attachment Valid Where Transactions Involve Fictitious Entity: SAFEMA appeared first on TaxGuru.

Income Tax Act 2025: New Presumptive Tax Rules May Raise Tax Burde

apkireturn — Thu, 30 Jul 2026 14:00:18 +0000

Explainer on Section 58 presumptive taxation under the Income Tax Act 2025, covering rates, deductions, loss set-off and compliance requirements.

The post Income Tax Act 2025: New Presumptive Tax Rules May Raise Tax Burde appeared first on TaxGuru.

Big 4 vs Industry vs Own Practice: Where Should a Fresh CA Actually Start?

CA Tushar Makkar — Thu, 30 Jul 2026 13:58:12 +0000

Explainer comparing Big 4, industry and independent CA practice, covering roles, salaries, challenges, requirements and career considerations.

The post Big 4 vs Industry vs Own Practice: Where Should a Fresh CA Actually Start? appeared first on TaxGuru.

Contract Labour In India: New Labour Code & Judicial Approach

Adv. Arvind Manohar — Thu, 30 Jul 2026 13:50:22 +0000

The OSH Code revises contract labour compliance by introducing new thresholds, principal employer obligations, core activity restrictions and compliance measures.

The post Contract Labour In India: New Labour Code & Judicial Approach appeared first on TaxGuru.

Advocates Should Be Summoned Only in Rare & Exceptional Circumstances: Delhi HC

Bimal Jain — Thu, 30 Jul 2026 13:31:23 +0000

Delhi HC disposed of the writ after withdrawal of summons and observed Advocates should ordinarily be summoned only in rare and exceptional circumstances.

The post Advocates Should Be Summoned Only in Rare & Exceptional Circumstances: Delhi HC appeared first on TaxGuru.

SC to Decide if Section 74(2) Six-Month SCN Time Limit Is Mandatory

Bimal Jain — Thu, 30 Jul 2026 13:21:58 +0000

SC stayed the Telangana HC judgment and Orders-in-Original while examining whether the Section 74(2) six-month show cause notice timeline is mandatory.

The post SC to Decide if Section 74(2) Six-Month SCN Time Limit Is Mandatory appeared first on TaxGuru.

Telangana HC Allows Fresh Reply After Supply of Seized Documents in GST Section 74 Proceedings

CA Sandeep Kanoi — Thu, 30 Jul 2026 13:12:22 +0000

Telangana HC disposed of the writ after directing supply of seized documents, permitting a supplementary reply, personal hearing and adjudication within limitation.

The post Telangana HC Allows Fresh Reply After Supply of Seized Documents in GST Section 74 Proceedings appeared first on TaxGuru.

Bhandari Scrap Traders: Section 16(2)(c), Retrospective GST Cancellation & Bona Fide Buyers

S PRASAD — Thu, 30 Jul 2026 13:10:45 +0000

Article analyses Bhandari Scrap Traders, Section 16(2)(c), retrospective GST cancellation, Rule 37A and the position of bona fide buyers.

The post Bhandari Scrap Traders: Section 16(2)(c), Retrospective GST Cancellation & Bona Fide Buyers appeared first on TaxGuru.

GSTN Hold Rollout of Proposed E-Way Bill Enhancements

mukesh5076 — Thu, 30 Jul 2026 13:03:41 +0000

GSTN has deferred e-Way Bill enhancements due from 1 August 2026, withdrawn earlier advisories and directed stakeholders to continue existing processes.

The post GSTN Hold Rollout of Proposed E-Way Bill Enhancements appeared first on TaxGuru.

Leased Machinery Imports: Customs Valuation, GST & Compliance

Khanindra Das — Thu, 30 Jul 2026 12:53:35 +0000

Article explains customs valuation of leased machinery, Rule 3(2), Rule 10, GST implications, procedural safeguards and practical compliance considerations.

The post Leased Machinery Imports: Customs Valuation, GST & Compliance appeared first on TaxGuru.

Portal Upload Is Not a Service: Amar Coop Reaffirms Luxmi Traders

Baljit Singh Khara — Thu, 30 Jul 2026 12:50:34 +0000

Article examines Punjab & Haryana HC's Amar Coop ruling reaffirming that portal-only upload is not valid GST service and restoring the appeal on merits.

The post Portal Upload Is Not a Service: Amar Coop Reaffirms Luxmi Traders appeared first on TaxGuru.

GSTR 2B vs Books Reconciliation: A Free Excel-Based Automation Tool

SANTU SAHA — Thu, 30 Jul 2026 12:42:51 +0000

Article explains an Excel-based GST reconciliation tool that automates matching of Tally Books with GSTR-2B and generates reconciliation summaries.

The post GSTR 2B vs Books Reconciliation: A Free Excel-Based Automation Tool appeared first on TaxGuru.

Substance over books: No tax on refundable advances & self-owned property

Mihirkumar Patel — Thu, 30 Jul 2026 12:37:33 +0000

CESTAT dismissed the Revenue’s appeal, holding refundable security deposits and sale of self-owned property not liable to service tax.

The post Substance over books: No tax on refundable advances & self-owned property appeared first on TaxGuru.

No ITC on Upfront Lease Premium for Industrial Land Used to Construct Factory: GST AAAR

CA Sandeep Kanoi — Thu, 30 Jul 2026 12:34:26 +0000

AAAR held ITC on GST paid for upfront lease amount of industrial land is blocked under Section 17(5)(d). Refund query was rejected as beyond Section 97(2).

The post No ITC on Upfront Lease Premium for Industrial Land Used to Construct Factory: GST AAAR appeared first on TaxGuru.

Mere Invoices Cannot Rebut Accommodation Entry Evidence in Demonetisation Gold Trade Case: SAFEMA

CA Vijayakumar Shetty — Thu, 30 Jul 2026 12:30:04 +0000

SAFEMA Tribunal upheld a ₹39.50 lakh benami attachment, holding invoices did not rebut evidence of accommodation entries linked to demonetised cash.

The post Mere Invoices Cannot Rebut Accommodation Entry Evidence in Demonetisation Gold Trade Case: SAFEMA appeared first on TaxGuru.

Telangana HC Waives 10% Pre-Deposit for GSTAT Appeal Where IGST Already Paid

ADV AKRUTI GOYAL — Thu, 30 Jul 2026 12:22:18 +0000

Telangana HC allowed the taxpayer to appeal before GSTAT without the statutory 10% pre-deposit in a dispute over IGST versus CGST/SGST liability.

The post Telangana HC Waives 10% Pre-Deposit for GSTAT Appeal Where IGST Already Paid appeared first on TaxGuru.

SAFEMA Upholds PMLA Attachment in Gold Loan Fraud; Grants Relief for Court Deposit

CA Vijayakumar Shetty — Thu, 30 Jul 2026 12:15:59 +0000

SAFEMA Tribunal upheld PMLA attachment in an alleged gold loan fraud but set aside attachment of the ₹50 lakh court security deposit.

The post SAFEMA Upholds PMLA Attachment in Gold Loan Fraud; Grants Relief for Court Deposit appeared first on TaxGuru.

Telangana HC Declines GST Writ, Directs Taxpayer to Avail Section 112 Appeal Before Appellate Tribunal

ADV AKRUTI GOYAL — Thu, 30 Jul 2026 12:15:36 +0000

Telangana HC declined to entertain a writ petition and directed the petitioner to pursue the statutory appeal before the GST Appellate Tribunal under Section 112.

The post Telangana HC Declines GST Writ, Directs Taxpayer to Avail Section 112 Appeal Before Appellate Tribunal appeared first on TaxGuru.

Telangana HC Permits Manual Revocation of Cancelled GST Registration for Non-Filing of Returns

ADV AKRUTI GOYAL — Thu, 30 Jul 2026 12:10:37 +0000

Telangana HC permitted manual filing of a GST registration revocation application and directed the competent authority to decide it within three weeks.

The post Telangana HC Permits Manual Revocation of Cancelled GST Registration for Non-Filing of Returns appeared first on TaxGuru.

The Great Indian Shopping Festival: How Buying Became a Year-Long Event

Editor — Thu, 30 Jul 2026 11:55:55 +0000

India’s shopping calendar now spans the year, driven by discounts, credit card offers, EMIs and category-based promotions across multiple sale events.

The post The Great Indian Shopping Festival: How Buying Became a Year-Long Event appeared first on TaxGuru.

Jodhpur ITAT Quashes Search Assessment for Mechanical Section 153D Approval

CA Vijayakumar Shetty — Thu, 30 Jul 2026 10:26:01 +0000

Jodhpur ITAT quashed a search assessment, holding that mechanical approval under Section 153D without application of mind rendered the assessment invalid.

The post Jodhpur ITAT Quashes Search Assessment for Mechanical Section 153D Approval appeared first on TaxGuru.

SAFEMA Refuses to Enhance FEMA Penalty on IGNIS Director

CA Vijayakumar Shetty — Thu, 30 Jul 2026 09:52:58 +0000

SAFEMA Tribunal refused to enhance the ₹70 lakh FEMA penalty on an IGNIS Director, holding penalty quantum lies within the Adjudicating Authority's discretion.

The post SAFEMA Refuses to Enhance FEMA Penalty on IGNIS Director appeared first on TaxGuru.

SAFEMA Deletes FEMA Penalty on Technical Director; Mere Designation Not Enough

CA Vijayakumar Shetty — Thu, 30 Jul 2026 09:35:08 +0000

SAFEMA Tribunal set aside a Section 42 FEMA penalty, holding the appellant's technical role did not establish liability for the export default.

The post SAFEMA Deletes FEMA Penalty on Technical Director; Mere Designation Not Enough appeared first on TaxGuru.

SAFEMA Tribunal Rejects Vicarious Liability Against Former Director Under FEMA

CA Vijayakumar Shetty — Thu, 30 Jul 2026 09:00:50 +0000

SAFEMA Tribunal set aside a Section 42 FEMA penalty, holding the appellant's specific role and responsibility were not established.

The post SAFEMA Tribunal Rejects Vicarious Liability Against Former Director Under FEMA appeared first on TaxGuru.

Top 10 Payroll Software in India for Businesses in 2026

Editor — Thu, 30 Jul 2026 08:48:17 +0000

Compare the top 10 payroll software solutions in India for 2026, including features, compliance capabilities, and suitability for different business sizes.

The post Top 10 Payroll Software in India for Businesses in 2026 appeared first on TaxGuru.

Penny Stock LTCG Exemption Cannot Be Denied Solely on Investigation Wing Report: ITAT Mumbai

CA Sandeep Kanoi — Thu, 30 Jul 2026 08:44:58 +0000

ITAT allowed Section 10(38) exemption, deleted Section 68 and Section 69C additions after finding documented share transactions unsupported by contrary evidence.

The post Penny Stock LTCG Exemption Cannot Be Denied Solely on Investigation Wing Report: ITAT Mumbai appeared first on TaxGuru.

SEBI Mandates ‘@valid’ UPI Handles for Intermediaries from October 1, 2025

Compliance Calendar LLP — Thu, 30 Jul 2026 08:37:47 +0000

SEBI requires covered intermediaries to use validated “@valid” UPI IDs and QR codes to strengthen investor payment verification and reduce fraud.

The post SEBI Mandates ‘@valid’ UPI Handles for Intermediaries from October 1, 2025 appeared first on TaxGuru.

LTCG Exemption Cannot Be Denied Solely on Investigation Wing Report: ITAT Mumbai

CA Sandeep Kanoi — Thu, 30 Jul 2026 08:29:56 +0000

ITAT deleted additions under Sections 68 and 69C and restored Section 10(38) exemption after finding documentary evidence supported the LTCG share transactions.

The post LTCG Exemption Cannot Be Denied Solely on Investigation Wing Report: ITAT Mumbai appeared first on TaxGuru.

Cost Accounting: Key to Smarter Business Decisions

Aashima Srivastava — Thu, 30 Jul 2026 08:22:14 +0000

Learn how cost accounting helps businesses manage costs, prepare budgets, set prices, improve efficiency, and support financial decision-making.

The post Cost Accounting: Key to Smarter Business Decisions appeared first on TaxGuru.

Tax-Free Reimbursements vs Fixed WFH Allowances: Tax Treatment

Dr. Suresh Surana — Thu, 30 Jul 2026 08:18:17 +0000

Explains the tax treatment of official reimbursements, fixed WFH allowances, and the documents employees should retain for tax-free reimbursement claims.

The post Tax-Free Reimbursements vs Fixed WFH Allowances: Tax Treatment appeared first on TaxGuru.

Delay in Filing Form 67 Should Not Defeat Foreign Tax Credit Claim: Gujarat HC

CA Sandeep Kanoi — Thu, 30 Jul 2026 08:14:54 +0000

Gujarat High Court quashed rejection of Form 67 delay condonation and directed fresh consideration to enable DTAA foreign tax credit claim.

The post Delay in Filing Form 67 Should Not Defeat Foreign Tax Credit Claim: Gujarat HC appeared first on TaxGuru.

Passenger Elevators Are Common Carriers; SC Upholds OTIS Liability

CA Jatin Minocha — Thu, 30 Jul 2026 08:14:02 +0000

SC dismissed OTIS's appeal, upheld joint liability for a fatal elevator accident, and held passenger elevators should be treated as common carriers.

The post Passenger Elevators Are Common Carriers; SC Upholds OTIS Liability appeared first on TaxGuru.

CENVAT Credit Refund Under Rule 5 to Be Computed Unit-Wise for STPI Unit: CESTAT Chennai

CA Sandeep Kanoi — Thu, 30 Jul 2026 08:01:37 +0000

CESTAT set aside partial refund rejection, held the input service disallowance unsustainable, and remanded refund quantification under Rule 5.

The post CENVAT Credit Refund Under Rule 5 to Be Computed Unit-Wise for STPI Unit: CESTAT Chennai appeared first on TaxGuru.

Andhra Pradesh HC Orders Refund of Double Tax Paid on Same Capital Gains

CA Sandeep Kanoi — Thu, 30 Jul 2026 07:55:09 +0000

Andhra Pradesh HC allowed refund under Section 119(2)(b), holding double taxation caused genuine hardship and directing refund with interest.

The post Andhra Pradesh HC Orders Refund of Double Tax Paid on Same Capital Gains appeared first on TaxGuru.

Miscellaneous Application Cannot Reopen Finally Decided Appeals: SC

CA Sandeep Kanoi — Thu, 30 Jul 2026 07:53:49 +0000

Supreme Court dismissed a post-disposal miscellaneous application seeking Late Payment Surcharge directions, holding such relief cannot bypass review procedures.

The post Miscellaneous Application Cannot Reopen Finally Decided Appeals: SC appeared first on TaxGuru.

Karnataka HC Upholds Section 153C Notices Within Extended 10-Year Assessment Block

CA Sandeep Kanoi — Thu, 30 Jul 2026 07:50:39 +0000

HC upheld Section 153C notices, holding they were not time barred and permitting remaining objections to be raised during assessment proceedings.

The post Karnataka HC Upholds Section 153C Notices Within Extended 10-Year Assessment Block appeared first on TaxGuru.

SC Partly Allows Higher Pay-Scale Arrears Subject to Delay and Laches

CA Sandeep Kanoi — Thu, 30 Jul 2026 07:50:20 +0000

Supreme Court granted higher pay-scale arrears for three years before the writ petitions with 7% interest, while rejecting earlier arrears due to delay and laches.

The post SC Partly Allows Higher Pay-Scale Arrears Subject to Delay and Laches appeared first on TaxGuru.

Karnataka HC Allows ITC on Purchases Despite Selling Dealer’s VAT Default

CA Sandeep Kanoi — Thu, 30 Jul 2026 07:40:42 +0000

HC set aside the revisional order and restored ITC, holding that the purchaser exercised due diligence and the revenue must recover unpaid VAT from selling dealers.

The post Karnataka HC Allows ITC on Purchases Despite Selling Dealer’s VAT Default appeared first on TaxGuru.

Uploading SCN on GST Portal Alone Is Not Valid Service: Punjab & Haryana HC

CA Sandeep Kanoi — Thu, 30 Jul 2026 07:33:44 +0000

Punjab and Haryana HC disposed of the GST writ following Luxmi Traders, holding that uploading orders only on the Common Portal was insufficient in the facts of the case.

The post Uploading SCN on GST Portal Alone Is Not Valid Service: Punjab & Haryana HC appeared first on TaxGuru.

CBDT Notifies Kerala RERA for Section 11 Exemption

Editor — Thu, 30 Jul 2026 07:31:17 +0000

CBDT Notification No. 102/2026 grants Section 11 exemption to Kerala RERA for specified income, subject to prescribed conditions, for tax year 2026-27.

The post CBDT Notifies Kerala RERA for Section 11 Exemption appeared first on TaxGuru.

SAFEMA Tribunal Quashes FEMA Penalties in Tamilnad Mercantile Bank Share Transfer Case

CA Vijayakumar Shetty — Thu, 30 Jul 2026 07:30:55 +0000

SAFEMA Tribunal quashed FEMA penalties after holding the alleged contraventions in the TMB share transfer case were not established.

The post SAFEMA Tribunal Quashes FEMA Penalties in Tamilnad Mercantile Bank Share Transfer Case appeared first on TaxGuru.

CBDT Notifies Kerala RERA for Section 10(46) Exemption

Editor — Thu, 30 Jul 2026 07:30:55 +0000

CBDT Notification No. 101/2026 grants Section 10(46) exemption to Kerala RERA for specified income for AYs 2023-24 to 2026-27, subject to conditions.

The post CBDT Notifies Kerala RERA for Section 10(46) Exemption appeared first on TaxGuru.

GSTN Keeps Proposed e-Way Bill Enhancements on Hold Until Further Notice

Editor — Thu, 30 Jul 2026 07:27:21 +0000

GSTN has deferred the proposed e-Way Bill enhancements scheduled for 1 August 2026 and withdrawn related advisories and FAQs until further notice.

The post GSTN Keeps Proposed e-Way Bill Enhancements on Hold Until Further Notice appeared first on TaxGuru.

SAFEMA Tribunal Refuses to Confiscate Tamilnad Mercantile Bank Shares Despite FEMA Violations

CA Vijayakumar Shetty — Thu, 30 Jul 2026 06:15:35 +0000

SAFEMA Tribunal held confiscation under Section 13(2) of FEMA is discretionary and upheld the decision not to confiscate TMB shares.

The post SAFEMA Tribunal Refuses to Confiscate Tamilnad Mercantile Bank Shares Despite FEMA Violations appeared first on TaxGuru.

SAFEMA Tribunal Upholds Post-Death PMLA Attachment, Directs Legal Heir to Special Court

CA Vijayakumar Shetty — Thu, 30 Jul 2026 06:04:56 +0000

SAFEMA Tribunal upheld PMLA attachment after the accused's death and granted liberty to the legal heir to seek relief under Section 8(7).

The post SAFEMA Tribunal Upholds Post-Death PMLA Attachment, Directs Legal Heir to Special Court appeared first on TaxGuru.

SAFEMA Tribunal Upholds PMLA Attachment in PRD Mini Nidhi Scam

CA Vijayakumar Shetty — Thu, 30 Jul 2026 05:52:54 +0000

SAFEMA Tribunal upheld PMLA attachment after holding the appellant failed to explain the source of assets and discharge the burden under Section 24.

The post SAFEMA Tribunal Upholds PMLA Attachment in PRD Mini Nidhi Scam appeared first on TaxGuru.

SAFEMA Tribunal Cuts Penalties While Upholding FEMA Contravention for Software Import

CA Vijayakumar Shetty — Thu, 30 Jul 2026 05:41:19 +0000

SAFEMA Tribunal upheld FEMA contravention for unsubstantiated software import but reduced penalties on the company and its Director.

The post SAFEMA Tribunal Cuts Penalties While Upholding FEMA Contravention for Software Import appeared first on TaxGuru.

Corporate Beneficial Ownership: Switzerland vs India

sborthakur — Thu, 30 Jul 2026 05:37:02 +0000

Comparison of Switzerland's TJPG/LETA and India's SBO framework covering thresholds, filing process, reporting structure and register accessibility.

The post Corporate Beneficial Ownership: Switzerland vs India appeared first on TaxGuru.

Section 16(2)(c) CGST Act: Law, Constitutional Challenges & Judicial Views

CA (Adv) Sikander Sachdeva — Thu, 30 Jul 2026 05:33:47 +0000

Examines Section 16(2)(c) of the CGST Act, judicial views on ITC, constitutional challenges, Section 41, and the evolving legal position.

The post Section 16(2)(c) CGST Act: Law, Constitutional Challenges & Judicial Views appeared first on TaxGuru.

Police Must Probe Crimes, Not Consenting Adult Marriages: Allahabad HC

Sanjeev Sirohi — Thu, 30 Jul 2026 05:29:58 +0000

Allahabad HC quashed an FIR under Section 87 BNS, holding that police need not investigate the marriage of two consenting adult individuals.

The post Police Must Probe Crimes, Not Consenting Adult Marriages: Allahabad HC appeared first on TaxGuru.

SAFEMA Tribunal Sets Aside PMLA Attachment Order, Remands Director’s Wife’s Case

CA Vijayakumar Shetty — Thu, 30 Jul 2026 05:27:28 +0000

SAFEMA Tribunal set aside the PMLA attachment order and remanded the case after finding no reasoned findings on the appellant's contentions under Section 8(2).

The post SAFEMA Tribunal Sets Aside PMLA Attachment Order, Remands Director’s Wife’s Case appeared first on TaxGuru.

SAFEMA Tribunal Sets Aside PMLA Freezing Orders Against WazirX and Vauld

CA Vijayakumar Shetty — Thu, 30 Jul 2026 05:15:42 +0000

SAFEMA Tribunal set aside PMLA freezing orders against WazirX and Vauld, remanding the matter for a fresh reasoned adjudication.

The post SAFEMA Tribunal Sets Aside PMLA Freezing Orders Against WazirX and Vauld appeared first on TaxGuru.

SAFEMA Tribunal Upholds PMLA Attachment, Rejects Manik Bhattacharya’s Appeals

CA Vijayakumar Shetty — Thu, 30 Jul 2026 05:00:17 +0000

SAFEMA Tribunal upheld attachment of ₹7.93 crore under the PMLA, dismissed the appeals and sustained the ED's recorded reasons to believe.

The post SAFEMA Tribunal Upholds PMLA Attachment, Rejects Manik Bhattacharya’s Appeals appeared first on TaxGuru.

Bona Fide ITR Mistake Should Not Deny Partner’s Remuneration Deduction: ITAT Ahmedabad

CA Sandeep Kanoi — Wed, 29 Jul 2026 19:43:28 +0000

ITAT restored the matter to the AO to verify partners' remuneration disallowed under Section 143(1), directing allowance if admissible despite delay in Section 154 rectification.

The post Bona Fide ITR Mistake Should Not Deny Partner’s Remuneration Deduction: ITAT Ahmedabad appeared first on TaxGuru.

Admission of Claim in Principal Borrower’s CIRP Does Not Bar Section 7 Against Guarantor: NCLT Delhi

CA Sandeep Kanoi — Wed, 29 Jul 2026 19:26:16 +0000

NCLT admitted a Section 7 application against a corporate guarantor, holding that financial debt, default, and co-extensive liability were established despite CIRP against the principal borrower.

The post Admission of Claim in Principal Borrower’s CIRP Does Not Bar Section 7 Against Guarantor: NCLT Delhi appeared first on TaxGuru.

Second Guarantee Invocation Cannot Revive Time-Barred Section 7 Claim: NCLT Mumbai

CA Sandeep Kanoi — Wed, 29 Jul 2026 19:14:13 +0000

NCLT rejected a Section 7 IBC petition against a corporate guarantor, holding the 2018 demand notice invoked the guarantee and the 2025 notice could not revive limitation.

The post Second Guarantee Invocation Cannot Revive Time-Barred Section 7 Claim: NCLT Mumbai appeared first on TaxGuru.

Information Utility Record Not Exclusive Proof of Default Under Section 7: NCLT Delhi

CA Sandeep Kanoi — Wed, 29 Jul 2026 18:59:11 +0000

NCLT admitted a Section 7 CIRP after finding financial debt and default proved through ICD documents, dishonoured cheques and other evidence despite initial absence of IU record.

The post Information Utility Record Not Exclusive Proof of Default Under Section 7: NCLT Delhi appeared first on TaxGuru.

Gujarat HC Holds Search Assessment Year Counts for Extended 10-Year Reassessment Period

CA Sandeep Kanoi — Wed, 29 Jul 2026 18:45:08 +0000

Gujarat High Court quashed a Section 148 notice for AY 2015-16 as barred by limitation, holding the search assessment year must be included in computing the ten-year period.

The post Gujarat HC Holds Search Assessment Year Counts for Extended 10-Year Reassessment Period appeared first on TaxGuru.

Facts of One Assessment Year Cannot Be Used for Another: Orissa HC

CA Sandeep Kanoi — Wed, 29 Jul 2026 18:37:40 +0000

Orissa HC set aside a reassessment order after finding the show-cause notice referred to a different assessment year and remanded the matter for fresh adjudication.

The post Facts of One Assessment Year Cannot Be Used for Another: Orissa HC appeared first on TaxGuru.

AP HC Directs Acceptance of Delayed Return to Grant Section 80P Benefit

CA Sandeep Kanoi — Wed, 29 Jul 2026 18:36:25 +0000

Andhra Pradesh HC set aside rejection of delay condonation under Section 119(2)(b) and directed belated return to be treated as filed in time for Section 80P deduction.

The post AP HC Directs Acceptance of Delayed Return to Grant Section 80P Benefit appeared first on TaxGuru.

Section 263 Invalid Where AO Adopted Plausible View on Bogus Purchases: Gujarat HC

CA Sandeep Kanoi — Wed, 29 Jul 2026 18:34:40 +0000

Gujarat HC upheld ITAT's order setting aside Section 263 revision, holding the AO's 12.5% bogus purchase addition was a legally plausible view.

The post Section 263 Invalid Where AO Adopted Plausible View on Bogus Purchases: Gujarat HC appeared first on TaxGuru.

ITAT Annuls Section 153C Assessments for Common Satisfaction Note Across Assessment Years

CA Sandeep Kanoi — Wed, 29 Jul 2026 18:33:01 +0000

ITAT annulled Section 153C assessments after holding that a common satisfaction note for multiple assessment years vitiated the proceedings.

The post ITAT Annuls Section 153C Assessments for Common Satisfaction Note Across Assessment Years appeared first on TaxGuru.

ITAT Kolkata Quashes Section 263 Revision for Lack of Error & Revenue Prejudice

CA Sandeep Kanoi — Wed, 29 Jul 2026 18:31:56 +0000

ITAT quashed the Section 263 revision after holding the assessment was neither erroneous nor prejudicial to Revenue and the AO had examined the receipts issue.

The post ITAT Kolkata Quashes Section 263 Revision for Lack of Error & Revenue Prejudice appeared first on TaxGuru.

Gujarat HC Faults CESTAT for ‘Difficult to Decipher’ Remand Order in Customs Classification Dispute

CA Sandeep Kanoi — Wed, 29 Jul 2026 18:30:42 +0000

Gujarat HC quashed CESTAT's remand order in a customs classification dispute and directed the Tribunal to decide the appeal afresh on merits within four months.

The post Gujarat HC Faults CESTAT for ‘Difficult to Decipher’ Remand Order in Customs Classification Dispute appeared first on TaxGuru.

Gauhati HC Upholds Consolidated GST SCN & Order for Multiple Financial Years

CA Sandeep Kanoi — Wed, 29 Jul 2026 18:27:54 +0000

HC held consolidated GST show cause notices and orders for multiple financial years are valid, declined writ relief, and allowed appeal under Section 107 with interim protection.

The post Gauhati HC Upholds Consolidated GST SCN & Order for Multiple Financial Years appeared first on TaxGuru.

GST Council Notifies New IGST Settlement Rules, 2026

Editor — Wed, 29 Jul 2026 18:13:58 +0000

Finance Ministry details GST Council measures, Committee recommendations and GST Settlement of Fund Rules, 2026 to strengthen the IGST settlement mechanism.

The post GST Council Notifies New IGST Settlement Rules, 2026 appeared first on TaxGuru.

AP HC Sets Aside Unsigned GST DRC-07 Assessment Orders as Invalid

Bimal Jain — Wed, 29 Jul 2026 15:57:36 +0000

AP High Court set aside unsigned GST DRC-07 assessment orders, held the defect incurable, and remanded the matters subject to 20% tax deposit.

The post AP HC Sets Aside Unsigned GST DRC-07 Assessment Orders as Invalid appeared first on TaxGuru.

SC Examines Whether Binding GST Circular Bars Effective Appellate Remedy

Bimal Jain — Wed, 29 Jul 2026 15:51:10 +0000

Supreme Court issued notice on whether a binding GST circular under Section 168 renders the appellate remedy under Section 107 ineffective.

The post SC Examines Whether Binding GST Circular Bars Effective Appellate Remedy appeared first on TaxGuru.

ITAT Ahmedabad Deletes Section 68 Addition on Shree Shaleen LTCG

CA Sandeep Kanoi — Wed, 29 Jul 2026 15:40:51 +0000

ITAT Ahmedabad deleted the Section 68 addition on Shree Shaleen Textiles shares, allowing Section 10(38) exemption after finding the issue covered by earlier coordinate bench decisions.

The post ITAT Ahmedabad Deletes Section 68 Addition on Shree Shaleen LTCG appeared first on TaxGuru.

SC Upholds Quashing of Section 148 Notice for Invalid Section 151 Approval in Linkedin Case

CA Sandeep Kanoi — Wed, 29 Jul 2026 15:40:12 +0000

Supreme Court dismissed the delayed SLP on both delay and merits, leaving undisturbed the Bombay High Court order quashing the Section 148A(d) order and Section 148 notice.

The post SC Upholds Quashing of Section 148 Notice for Invalid Section 151 Approval in Linkedin Case appeared first on TaxGuru.

Rajasthan HC Condones Delay in GST Appeal Due to Portal Display Issue

CA Sandeep Kanoi — Wed, 29 Jul 2026 15:30:35 +0000

HC condoned delay in filing GST appeals after finding the petitioner lacked effective knowledge of the orders and permitted appeals to be filed within 15 days.

The post Rajasthan HC Condones Delay in GST Appeal Due to Portal Display Issue appeared first on TaxGuru.

Chhattisgarh HC Condones 309-Day Delay, Restores ITAT Appeal for Merits

CA Sandeep Kanoi — Wed, 29 Jul 2026 15:29:47 +0000

Chhattisgarh HC condoned a 309-day delay in filing an ITAT appeal, adopted a liberal approach, and remanded the matter for decision on merits.

The post Chhattisgarh HC Condones 309-Day Delay, Restores ITAT Appeal for Merits appeared first on TaxGuru.

ITAT Mumbai Upholds Tax on Notional Rent for Unsold Flats Held as Stock-in-Trade

CA Sandeep Kanoi — Wed, 29 Jul 2026 15:28:09 +0000

ITAT upheld taxation of notional rent on unsold stock-in-trade but directed the AO to recompute ALV using Municipal Rateable Value instead of 8.5% estimation.

The post ITAT Mumbai Upholds Tax on Notional Rent for Unsold Flats Held as Stock-in-Trade appeared first on TaxGuru.

Karnataka HC Quashes Section 148 Proceedings for Granting Less Than 7 Days Notice Under Section 148A(b)

CA Sandeep Kanoi — Wed, 29 Jul 2026 15:26:43 +0000

HC quashed reassessment proceedings after holding that a Section 148A(b) notice granting only six days to respond violated the statutory minimum of seven days.

The post Karnataka HC Quashes Section 148 Proceedings for Granting Less Than 7 Days Notice Under Section 148A(b) appeared first on TaxGuru.

ITAT Restricts Demonetisation Cash Deposit Addition to ₹5 Lakh, Rejects Section 115BBE Tax

CA Sandeep Kanoi — Wed, 29 Jul 2026 15:24:39 +0000

ITAT sustained a lump-sum addition of ₹5 lakh on demonetisation cash deposits under Section 68 and directed taxation under normal provisions instead of Section 115BBE.

The post ITAT Restricts Demonetisation Cash Deposit Addition to ₹5 Lakh, Rejects Section 115BBE Tax appeared first on TaxGuru.

Telangana HC Condones Delay in Filing Form 10B, Restores Section 11 Exemption

CA Sandeep Kanoi — Wed, 29 Jul 2026 15:20:48 +0000

HC set aside rejection of Form 10B delay condonation, holding the order to be non-speaking and allowing the application under Section 119(2)(b).

The post Telangana HC Condones Delay in Filing Form 10B, Restores Section 11 Exemption appeared first on TaxGuru.

Form 26AS-ST-3 Mismatch Alone Cannot Justify Service Tax Demand: CESTAT Mumbai

CA Sandeep Kanoi — Wed, 29 Jul 2026 15:19:29 +0000

CESTAT dismissed Revenue's appeal, holding that a presumptive show cause notice based solely on Form 26AS and ST-3 mismatch was unsustainable.

The post Form 26AS-ST-3 Mismatch Alone Cannot Justify Service Tax Demand: CESTAT Mumbai appeared first on TaxGuru.

SC Upholds Admissibility of Unregistered Sale Agreement in Specific Performance Suit

CA Sandeep Kanoi — Wed, 29 Jul 2026 15:17:59 +0000

Supreme Court upheld admission of an unregistered agreement to sell in a specific performance suit under the proviso to Section 49 of the Registration Act.

The post SC Upholds Admissibility of Unregistered Sale Agreement in Specific Performance Suit appeared first on TaxGuru.

Calcutta HC Sets Aside GST Order Over Notices in Wrong Portal Tab

CA Sandeep Kanoi — Wed, 29 Jul 2026 15:10:12 +0000

Calcutta High Court set aside GST assessment and appellate orders after finding notices were uploaded under the wrong portal tab, preventing participation.

The post Calcutta HC Sets Aside GST Order Over Notices in Wrong Portal Tab appeared first on TaxGuru.

Bombay HC Upholds Section 148 Reopening Based on Survey Revealing Bogus Purchases

CA Sandeep Kanoi — Wed, 29 Jul 2026 15:09:20 +0000

Bombay High Court upheld the Section 148 reassessment notice, holding that material gathered during survey and later scrutiny justified reopening the assessment.

The post Bombay HC Upholds Section 148 Reopening Based on Survey Revealing Bogus Purchases appeared first on TaxGuru.

SC Dismisses Challenge to Section 153A Assessments Based on Incriminating Material

CA Sandeep Kanoi — Wed, 29 Jul 2026 14:55:45 +0000

SC dismissed the SLP and declined interference with the High Court's Section 153A ruling after considering its reasoning on incriminating material.

The post SC Dismisses Challenge to Section 153A Assessments Based on Incriminating Material appeared first on TaxGuru.

SC Dismisses SLP Against Section 153A Remand to ITAT

CA Sandeep Kanoi — Wed, 29 Jul 2026 14:37:52 +0000

SC declined to interfere with the High Court's remand to the ITAT, holding that the alleged incriminating material under Section 153A remained open for consideration.

The post SC Dismisses SLP Against Section 153A Remand to ITAT appeared first on TaxGuru.

Allahabad HC Remands Section 153A Cases to ITAT Over Incriminating Material Findings

CA Sandeep Kanoi — Wed, 29 Jul 2026 14:33:17 +0000

Allahabad HC set aside the ITAT orders in Section 153A cases, holding that findings on incriminating material were not examined, and remanded the appeals for fresh adjudication.

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Rajasthan HC Upholds Section 108, Grants Immunity Under Exotic Species Disclosure Scheme

CA Sandeep Kanoi — Wed, 29 Jul 2026 14:04:55 +0000

Rajasthan HC upheld Section 108 of the Customs Act while protecting immunity available under the Voluntary Disclosure Scheme for declared exotic live species.

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CESTAT Sets Aside Confiscation of Exotic Birds for Lack of Smuggling Evidence

CA Sandeep Kanoi — Wed, 29 Jul 2026 14:04:13 +0000

CESTAT set aside confiscation of exotic birds and animals, holding Revenue failed to prove smuggling in a town seizure and directed their return.

The post CESTAT Sets Aside Confiscation of Exotic Birds for Lack of Smuggling Evidence appeared first on TaxGuru.

Madras HC Quashes Section 153C Notices for Search Initiated After 1 April 2021

CA Sandeep Kanoi — Wed, 29 Jul 2026 14:02:59 +0000

Madras HC quashed Section 153C notices, holding the initiation date for the other person was 25.11.2022, making Section 153C inapplicable under Section 153C(3).

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