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Inter-State Registered Office Shifting Under Companies Act, 2013: Procedure, Forms & Timelines

csrohit91 — Thu, 11 Jun 2026 15:47:32 +0000

This guide explains the complete legal procedure for transferring a registered office from one State to another under the Companies Act, 2013. The key takeaway is that shareholder approval and Regional Director consent are mandatory for interstate shifting.

The post Inter-State Registered Office Shifting Under Companies Act, 2013: Procedure, Forms & Timelines appeared first on TaxGuru.

SEBI Proposes Harmonized Price Bands to Prevent Divergence in Multi-Listed Scrip Prices

Editor6 — Thu, 11 Jun 2026 15:18:21 +0000

SEBI has proposed a uniform framework for fixing price bands and pre-open base prices for scrips listed on multiple exchanges. The move seeks to address price divergence caused by non-trading on one or more exchanges.

The post SEBI Proposes Harmonized Price Bands to Prevent Divergence in Multi-Listed Scrip Prices appeared first on TaxGuru.

Calcutta HC Refuses to Quash Section 160 Cr.P.C. Notices as They Form Part of Investigation

CA Sandeep Kanoi — Thu, 11 Jun 2026 12:30:07 +0000

The High Court held that notices issued under Section 160 Cr.P.C. are an integral component of criminal investigation and cannot ordinarily be quashed. However, it issued safeguards to protect the petitioner's right to seek legal remedies.

The post Calcutta HC Refuses to Quash Section 160 Cr.P.C. Notices as They Form Part of Investigation appeared first on TaxGuru.

ITAT Deletes Section 69 Addition as Seized Loose Document Lacked Corroborative Evidence

CA Sandeep Kanoi — Thu, 11 Jun 2026 12:28:50 +0000

The Tribunal held that an incomplete document recovered from an employee's laptop could not justify an addition under Section 69 without supporting evidence. The absence of cross-examination and independent verification weighed against the Revenue.

The post ITAT Deletes Section 69 Addition as Seized Loose Document Lacked Corroborative Evidence appeared first on TaxGuru.

Section 122(1A), Penalty on Partners & Double Jeopardy Debate: Is Article 20(2) Really Irrelevant?

CA. Shafaly Girdharwal — Thu, 11 Jun 2026 12:26:57 +0000

The debate examines why GST penalties under Section 122(1A) may survive a direct challenge under Article 20(2). The key takeaway is that tax penalties are generally treated as civil consequences rather than criminal punishments.

The post Section 122(1A), Penalty on Partners & Double Jeopardy Debate: Is Article 20(2) Really Irrelevant? appeared first on TaxGuru.

Capital Spending on School Infrastructure is Application of Income: ITAT Delhi

CA Sandeep Kanoi — Thu, 11 Jun 2026 12:15:03 +0000

The ITAT held that once registration under Section 12AB was ultimately granted on the basis of the original application, the doctrine of relating back applied. As a result, exemption under Sections 11 and 12 could not be denied for the relevant assessment year.

The post Capital Spending on School Infrastructure is Application of Income: ITAT Delhi appeared first on TaxGuru.

Consolidated GST SCN for Six Years Unsustainable: Kerala HC

CA Sandeep Kanoi — Thu, 11 Jun 2026 12:12:59 +0000

The Kerala High Court set aside a consolidated notice issued for FY 2019-20 to 2024-25. It held that separate notices must be issued for each assessment year in line with earlier precedents.

The post Consolidated GST SCN for Six Years Unsustainable: Kerala HC appeared first on TaxGuru.

CA Acting as Conduit for Clients’ Tax Payments Cannot Be Taxed on Deposits: ITAT Chennai

CA Sandeep Kanoi — Thu, 11 Jun 2026 12:11:51 +0000

The ITAT Chennai ruled that funds received by a Chartered Accountant for remitting clients' taxes could not be treated as unexplained money. Documentary evidence showing corresponding tax payments led to deletion of the additions.

The post CA Acting as Conduit for Clients’ Tax Payments Cannot Be Taxed on Deposits: ITAT Chennai appeared first on TaxGuru.

Revised Return Not Essential Before Appellate Authorities for Additional Tax Claims

CA Sandeep Kanoi — Thu, 11 Jun 2026 12:09:03 +0000

ITAT Mumbai held that appellate forums can entertain additional claims even without a revised return. The matter was remanded to the AO for verification of the alleged double taxation claim.

The post Revised Return Not Essential Before Appellate Authorities for Additional Tax Claims appeared first on TaxGuru.

Coercive GST Recovery Stayed as Section 73 Demand Sought to Override Sanctioned Refund Orders: Orissa HC

CA Sandeep Kanoi — Thu, 11 Jun 2026 12:05:37 +0000

The Court granted interim protection after observing that proceedings under Section 73 appeared to nullify refund orders sanctioned under Section 54 without invoking the appellate remedy under Section 107.

The post Coercive GST Recovery Stayed as Section 73 Demand Sought to Override Sanctioned Refund Orders: Orissa HC appeared first on TaxGuru.

Partners Liable for GST Penalty if They Benefited from Tax Evasion: Gauhati HC

CA Sandeep Kanoi — Thu, 11 Jun 2026 11:58:54 +0000

The Gauhati High Court held that partners who retained benefits from GST violations and acted behind such transactions can be penalized under Section 122(1A). The ruling clarifies that liability extends beyond the taxable entity in appropriate cases.

The post Partners Liable for GST Penalty if They Benefited from Tax Evasion: Gauhati HC appeared first on TaxGuru.

Daughter’s Bank Account Can’t Be Frozen for Father’s Tax Dues: Telangana HC

ADV AKRUTI GOYAL — Thu, 11 Jun 2026 11:46:33 +0000

The Telangana High Court held that recovery proceedings under Section 226(3) cannot automatically extend to a daughter's bank account merely because she is related to the assessee.

The post Daughter’s Bank Account Can’t Be Frozen for Father’s Tax Dues: Telangana HC appeared first on TaxGuru.

SC Upholds Conviction as Concurrent Findings Showed No Legal Infirmity

CA Sandeep Kanoi — Thu, 11 Jun 2026 11:39:02 +0000

The Supreme Court refused to interfere with concurrent findings of guilt, holding that revisional courts have limited powers to reappreciate evidence. It also upheld the direction that multiple sentences should run concurrently.

The post SC Upholds Conviction as Concurrent Findings Showed No Legal Infirmity appeared first on TaxGuru.

SC Restores Corruption Trial as Defence Evidence Cannot Be Tested at Discharge Stage

CA Sandeep Kanoi — Thu, 11 Jun 2026 11:36:41 +0000

The Supreme Court held that disputed explanations regarding assets and loans must be examined during trial and cannot form the basis for discharge. The High Court's order discharging the accused was set aside.

The post SC Restores Corruption Trial as Defence Evidence Cannot Be Tested at Discharge Stage appeared first on TaxGuru.

Foreign LTC Travel Is a Concession, Not a Service Right: Madras HC

CA Sandeep Kanoi — Thu, 11 Jun 2026 11:34:39 +0000

The Madras High Court held that overseas travel under LTC was merely an administrative concession without statutory backing. Its withdrawal did not violate service conditions or employees' rights.

The post Foreign LTC Travel Is a Concession, Not a Service Right: Madras HC appeared first on TaxGuru.

Bank Cannot Be Treated as TDS Defaulter for Complying With HC Orders

CA Sandeep Kanoi — Thu, 11 Jun 2026 11:31:27 +0000

The Court held that an employer acting in accordance with interim judicial directions restraining TDS deduction cannot be treated as an assessee in default under Section 201 of the Income Tax Act.

The post Bank Cannot Be Treated as TDS Defaulter for Complying With HC Orders appeared first on TaxGuru.

ITAT Deletes TDS Demand on LFC Payments as Bank Followed HC Orders

CA Sandeep Kanoi — Thu, 11 Jun 2026 11:29:44 +0000

ITAT Ahmedabad held that a bank could not be treated as an assessee in default for non-deduction of TDS on LFC payments when it acted in compliance with binding interim directions of the Madras High Court. The Tribunal deleted demands raised under Sections 201(1) and 201(1A).

The post ITAT Deletes TDS Demand on LFC Payments as Bank Followed HC Orders appeared first on TaxGuru.

Jharkhand HC Directs Protection and Rehabilitation of Rape Survivors

Sanjeev Sirohi — Thu, 11 Jun 2026 11:20:36 +0000

The Court directed trial courts to award just and reasonable compensation to survivors irrespective of conviction, acquittal, or absconding of the accused. It also ordered authorities to release compensation within thirty days.

The post Jharkhand HC Directs Protection and Rehabilitation of Rape Survivors appeared first on TaxGuru.

Telangana HC Upholds Rejection of Updated Return During Pending Scrutiny Assessment

ADV AKRUTI GOYAL — Thu, 11 Jun 2026 11:12:10 +0000

The Telangana High Court held that an assessee cannot file an updated return under Section 139(8A) once assessment proceedings have commenced or are completed. The ruling clarifies that the third proviso to Section 139(8A) bars updated returns after issuance of scrutiny notices.

The post Telangana HC Upholds Rejection of Updated Return During Pending Scrutiny Assessment appeared first on TaxGuru.

RBI Forex Swap Facility for PSU Borrowings: ECB Cost and FX Impact

srikant83 — Thu, 11 Jun 2026 11:00:59 +0000

RBI has introduced a concessional forex swap facility allowing eligible PSUs to hedge ECB and OFCB exposures at a fixed 1.50% cost. The move significantly reduces exchange rate uncertainty and improves borrowing cost predictability.

The post RBI Forex Swap Facility for PSU Borrowings: ECB Cost and FX Impact appeared first on TaxGuru.

Section 62(4) of Income-tax Act 2025: Closed List of Specified Professions Remains Unreformed

VIJAY R SINGH AND CO — Thu, 11 Jun 2026 10:54:41 +0000

The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. The key takeaway is that professionals still face uncertainty over presumptive taxation and audit eligibility.

The post Section 62(4) of Income-tax Act 2025: Closed List of Specified Professions Remains Unreformed appeared first on TaxGuru.

ITAT Quashes Assessments as Section 153D Approval Was Granted Mechanically

CA Sandeep Kanoi — Thu, 11 Jun 2026 10:47:24 +0000

The Department argued that Section 292BC validated the approval despite alleged deficiencies, but the Tribunal rejected this contention. It held that the amendment could not apply to approvals granted before 1 April 2021. The ruling clarified that subsequent legislative changes could not cure defects in earlier approvals.

The post ITAT Quashes Assessments as Section 153D Approval Was Granted Mechanically appeared first on TaxGuru.

Transferred Winding-Up Proceedings Cannot Bypass IBC Threshold Requirements: NCLAT

CA Sandeep Kanoi — Thu, 11 Jun 2026 10:46:39 +0000

The NCLAT held that winding-up proceedings transferred to the NCLT must satisfy the threshold applicable under the IBC at the time of consideration. Since the operational debt claims were below Rs. 1 crore, the petitions were held to be non-maintainable.

The post Transferred Winding-Up Proceedings Cannot Bypass IBC Threshold Requirements: NCLAT appeared first on TaxGuru.

Karnataka HC Restores GST Proceedings for non-consideration of submitted documents

CA Sandeep Kanoi — Thu, 11 Jun 2026 10:45:19 +0000

The High Court set aside the Order-in-Original after noting the petitioner's grievance that submitted documents were not considered due to formatting issues. The matter was remanded for fresh adjudication with an opportunity to present all records.

The post Karnataka HC Restores GST Proceedings for non-consideration of submitted documents appeared first on TaxGuru.

ITC Cannot Be Denied Merely Due to Supplier’s Failure to Deposit GST: Gauhati HC

CA Sandeep Kanoi — Thu, 11 Jun 2026 10:43:52 +0000

The Court held that denial of input tax credit cannot be justified solely because the selling dealer failed to deposit tax, where the purchasing dealer acted bona fide and complied with statutory requirements.

The post ITC Cannot Be Denied Merely Due to Supplier’s Failure to Deposit GST: Gauhati HC appeared first on TaxGuru.

ITAT Remands Section 80P Deduction Dispute as Earlier Tribunal Ruling Was Not Considered

CA Sandeep Kanoi — Thu, 11 Jun 2026 10:41:37 +0000

The Chennai ITAT restored the matter to the CIT(A), holding that the appellate authority failed to examine a prior Tribunal decision in the assessee's own case involving similar issues.

The post ITAT Remands Section 80P Deduction Dispute as Earlier Tribunal Ruling Was Not Considered appeared first on TaxGuru.

Interest on Enhanced Compensation Taxable under Section 56(2)(viii) post 2009 amendments

CA Sandeep Kanoi — Thu, 11 Jun 2026 10:37:13 +0000

The Chandigarh ITAT ruled that interest received on enhanced compensation is taxable under Section 56(2)(viii), holding that post-2009 amendments govern the issue despite claims for exemption under Section 10(37).

The post Interest on Enhanced Compensation Taxable under Section 56(2)(viii) post 2009 amendments appeared first on TaxGuru.

FTS Not Taxable Under Article 22 as India-Thailand DTAA Treats It as Business Income: ITAT Delhi

CA Sandeep Kanoi — Thu, 11 Jun 2026 10:34:29 +0000

The Delhi ITAT held that Fees for Technical Services cannot be taxed under Article 22 of the India-Thailand DTAA merely because the treaty lacks a specific FTS clause. In the absence of a Permanent Establishment in India, such business income was held not taxable.

The post FTS Not Taxable Under Article 22 as India-Thailand DTAA Treats It as Business Income: ITAT Delhi appeared first on TaxGuru.

CAM Charges Cannot Be Treated as Rent as They Cover Common Area Services: ITAT Delhi

CA Sandeep Kanoi — Thu, 11 Jun 2026 10:32:40 +0000

The ITAT Delhi held that Common Area Maintenance (CAM) charges are payments for maintenance services and not consideration for the use of premises. Accordingly, TDS on such payments is deductible under Section 194C and not Section 194-I.

The post CAM Charges Cannot Be Treated as Rent as They Cover Common Area Services: ITAT Delhi appeared first on TaxGuru.

Delhi HC Admits Appeal as ITAT Relied on Inapplicable Section 56 Provisions for Valuation

CA Sandeep Kanoi — Thu, 11 Jun 2026 10:22:19 +0000

The Delhi High Court admitted appeals challenging the Tribunal's reliance on Section 56(2)(vii)(b) for directing a fresh valuation exercise in a slump sale transaction. The Court framed substantial questions on the legality of invoking provisions allegedly inapplicable during the relevant assessment year.

The post Delhi HC Admits Appeal as ITAT Relied on Inapplicable Section 56 Provisions for Valuation appeared first on TaxGuru.

ITAT Restores Protective Addition as Substantive Addition Had Not Attained Finality

CA Sandeep Kanoi — Thu, 11 Jun 2026 10:02:29 +0000

ITAT Ahmedabad held that a protective addition cannot be deleted merely because a substantive addition has been confirmed at the first appellate stage if the substantive addition is still under challenge. The ruling emphasizes that protective additions may continue until final adjudication.

The post ITAT Restores Protective Addition as Substantive Addition Had Not Attained Finality appeared first on TaxGuru.

SC Order Settled the issue of Taxability of International Software Supply Transactions?

editor2 — Thu, 11 Jun 2026 09:42:54 +0000

The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitute royalty where no copyright rights are transferred. The ruling confirms that such payments are not taxable in India and do not trigger withholding tax obligations.

The post SC Order Settled the issue of Taxability of International Software Supply Transactions? appeared first on TaxGuru.

CAAR Rejects Motherboard Classification for CKD Kits as Essential Character Test Was Not Met

CA Sandeep Kanoi — Thu, 11 Jun 2026 09:37:26 +0000

CAAR Mumbai held that CKD kits comprising discrete electronic components could not be classified as motherboards under CTH 8473 30 20 because they lacked the essential character of finished motherboards at the time of importation.

The post CAAR Rejects Motherboard Classification for CKD Kits as Essential Character Test Was Not Met appeared first on TaxGuru.

IBBI Tightens CIRP Rules to Enhance Transparency in Resolution Decisions

editor2 — Thu, 11 Jun 2026 09:24:24 +0000

The Fourth Amendment Regulations, 2026 require committees of creditors to document the rationale behind approving resolution plans and assessing market discovery efforts. The changes aim to improve accountability and transparency in insolvency proceedings.

The post IBBI Tightens CIRP Rules to Enhance Transparency in Resolution Decisions appeared first on TaxGuru.

Countervailing Duty on Aluminium Wire Extended up to 23 March 2027

editor4 — Thu, 11 Jun 2026 09:23:20 +0000

Government extends countervailing duty on aluminium wire/wire rod imports from Malaysia up to 23 March 2027 through Notification No. 3/2026-Customs.

The post Countervailing Duty on Aluminium Wire Extended up to 23 March 2027 appeared first on TaxGuru.

Anti-Dumping Duty on Aluminium Foil Extended up to 15th December 2026

editor4 — Thu, 11 Jun 2026 09:21:07 +0000

Government extends anti-dumping duty on aluminium foil from China, Malaysia, Thailand and Indonesia up to 15 December 2026. Notification No. 10/2026-Customs (ADD) Dated: 10th June, 2026

The post Anti-Dumping Duty on Aluminium Foil Extended up to 15th December 2026 appeared first on TaxGuru.

Government Waives AIDC on Higher Ethanol-Blended Petrol

Editor — Thu, 11 Jun 2026 09:19:31 +0000

Notification No. 29/2026-Central Excise grants Nil Agriculture Infrastructure and Development Cess on E22, E25, E27 and E30 petrol blends. The move strengthens the Government's efforts to promote cleaner and sustainable fuel alternatives.

The post Government Waives AIDC on Higher Ethanol-Blended Petrol appeared first on TaxGuru.

CBIC notifies Nil Road and Infrastructure Cess on E22 to E30 Petrol

Editor — Thu, 11 Jun 2026 09:18:26 +0000

Notification No. 28/2026-Central Excise exempts E22, E25, E27 and E30 petrol blends from additional excise duty in the form of Road and Infrastructure Cess. The measure advances India's policy objective of encouraging cleaner transportation fuels.

The post CBIC notifies Nil Road and Infrastructure Cess on E22 to E30 Petrol appeared first on TaxGuru.

Nil special additional excise duty Benefit extended to E22, E25, E27 & E30 Petrol Blends

Editor — Thu, 11 Jun 2026 09:17:47 +0000

Notification No. 27/2026-Central Excise extends Nil special additional excise duty benefits to E22, E25, E27 and E30 petrol blends. The measure strengthens the Government's policy framework promoting ethanol-based fuels.

The post Nil special additional excise duty Benefit extended to E22, E25, E27 & E30 Petrol Blends appeared first on TaxGuru.

PFRDA Revises Definition of NPS Trust Assets to Clarify Subscriber Fund Ownership

editor2 — Thu, 11 Jun 2026 09:17:17 +0000

PFRDAs 2026 amendment redefines the assets of the National Pension System Trust, expressly covering subscriber funds, securities, and other investments. The change provides greater clarity on the assets held by the Trust on behalf of NPS subscribers.

The post PFRDA Revises Definition of NPS Trust Assets to Clarify Subscriber Fund Ownership appeared first on TaxGuru.

IFSCA FinTech Sandbox Framework, 2026: FAQs

editor7 — Thu, 11 Jun 2026 09:16:30 +0000

The IFSCAs updated framework supersedes previous sandbox regulations and establishes a unified regime for FinTech testing in IFSCs. It aims to promote innovation while maintaining regulatory oversight.

The post IFSCA FinTech Sandbox Framework, 2026: FAQs appeared first on TaxGuru.

Government Grants Excise Exemption as Higher Ethanol-Blended Petrol Needs Policy Support

Editor — Thu, 11 Jun 2026 09:16:27 +0000

Notification No. 26/2026-Central Excise extends Nil excise duty benefits to petrol blended with 22%, 25%, 27% and 30% ethanol. The move reinforces the Government's commitment to expanding ethanol usage in the fuel sector.

The post Government Grants Excise Exemption as Higher Ethanol-Blended Petrol Needs Policy Support appeared first on TaxGuru.

Orissa HC Directs GSTAT Appeal as Tribunal Became Functional & Filing Timelines Were Extended

CA Sandeep Kanoi — Thu, 11 Jun 2026 09:11:09 +0000

The Court held that writ petitions need not continue once the GSTAT becomes operational and statutory appeal timelines are available. It directed the petitioner to pursue the appellate remedy after complying with the prescribed pre-deposit requirements.

The post Orissa HC Directs GSTAT Appeal as Tribunal Became Functional & Filing Timelines Were Extended appeared first on TaxGuru.

Gauhati HC Quashes GST Registration Cancellation as REG-31 Notice Was Not Issued

a2zbimaljain — Thu, 11 Jun 2026 09:09:18 +0000

The Court held that cancellation proceedings for Rule 10A violations must be initiated through FORM GST REG-31, which grants thirty days to respond. Use of FORM GST REG-17 with a shorter timeline was found to be legally unsustainable.

The post Gauhati HC Quashes GST Registration Cancellation as REG-31 Notice Was Not Issued appeared first on TaxGuru.

ITC on Factory Canteen Services Allowed Only for Employer-Borne Cost of Regular Employees

a2zbimaljain — Thu, 11 Jun 2026 09:08:03 +0000

The Karnataka AAR held that ITC on statutory canteen services is available only to the extent of expenses actually borne by the employer for regular employees. Credit cannot be claimed on amounts recovered from employees or attributable to contract workers.

The post ITC on Factory Canteen Services Allowed Only for Employer-Borne Cost of Regular Employees appeared first on TaxGuru.

Can Service Tax Be Levied on What a Company Pays Its Own Overseas Offices?

hxr740 — Thu, 11 Jun 2026 09:03:20 +0000

CESTAT Delhi held that overseas liaison offices functioning merely as communication channels cannot be treated as separate service providers to their Indian head office. The Tribunal set aside service tax demands on reimbursements and emphasized that one cannot provide services to oneself.

The post Can Service Tax Be Levied on What a Company Pays Its Own Overseas Offices? appeared first on TaxGuru.

Why every Tax Professional must learn Artificial Intelligence (AI)?

Rahul Mishra — Thu, 11 Jun 2026 09:00:38 +0000

Artificial Intelligence is transforming the tax profession by streamlining research, drafting, and compliance processes. The key takeaway is that professionals who embrace AI can enhance productivity and strengthen their competitive advantage.

The post Why every Tax Professional must learn Artificial Intelligence (AI)? appeared first on TaxGuru.

ICAI Virtual Classes for CA Intermediate: May 2027, Sept 2027 & Jan 2028 Exams

editor2 — Thu, 11 Jun 2026 09:00:13 +0000

ICAI has unveiled a detailed schedule of virtual classes designed to assist students appearing in upcoming CA Intermediate examinations. The classes focus on concept clarity, exam preparation strategies, and continuous academic support.

The post ICAI Virtual Classes for CA Intermediate: May 2027, Sept 2027 & Jan 2028 Exams appeared first on TaxGuru.

Plagiarism in Indian Cinema Industry & Legal Challenges

Soumyaranjan Adhikary — Thu, 11 Jun 2026 08:58:35 +0000

The article explores how script theft and missing credits have emerged as significant concerns in India's entertainment sector. It highlights the growing role of legal safeguards and industry mechanisms in protecting writers' rights.

The post Plagiarism in Indian Cinema Industry & Legal Challenges appeared first on TaxGuru.

Selling on Amazon, Flipkart or Meesho? What You Need to Know About GST

Ankit Prajapat — Thu, 11 Jun 2026 08:51:47 +0000

E-commerce sellers generally require GST registration from their very first sale, irrespective of turnover thresholds applicable to offline businesses. The key takeaway is that early compliance helps avoid penalties, account disruptions, and loss of Input Tax Credit benefits.

The post Selling on Amazon, Flipkart or Meesho? What You Need to Know About GST appeared first on TaxGuru.

Sales Accepted, Books Not Rejected: ITAT Cuts Bogus Purchase Addition to 5%

cavkshetty — Thu, 11 Jun 2026 08:50:54 +0000

The Tribunal held that a 12.5% disallowance could not be sustained when the Assessing Officer neither rejected the books of account nor disputed the sales. The key takeaway is that additions must be supported by proper findings and evidence.

The post Sales Accepted, Books Not Rejected: ITAT Cuts Bogus Purchase Addition to 5% appeared first on TaxGuru.

Part Payment Through Bank Does the Trick: ITAT Deletes Section 56(2)(vii) Addition Despite 7-Year Gap in Registration

cavkshetty — Thu, 11 Jun 2026 08:35:51 +0000

Despite a significant gap between the agreement and registration dates, ITAT granted relief under the first and second provisos to Section 56(2)(vii). The key takeaway is that timely banking-channel payments pursuant to the agreement are crucial for claiming the benefit.

The post Part Payment Through Bank Does the Trick: ITAT Deletes Section 56(2)(vii) Addition Despite 7-Year Gap in Registration appeared first on TaxGuru.

Noordeen Enterprises & Myth of a Complete Bar on Pre-Adjudication GST Recovery

CA. Shafaly Girdharwal — Thu, 11 Jun 2026 08:34:37 +0000

The Court held that recovery from third parties cannot be initiated when only a proposed demand exists and no final tax liability has been determined. The ruling emphasizes that statutory recovery mechanisms require a legally enforceable liability.

The post Noordeen Enterprises & Myth of a Complete Bar on Pre-Adjudication GST Recovery appeared first on TaxGuru.

ESOP Discount Allowed as Liability Accrues Over Vesting Period: ITAT Bangalore

CA Sandeep Kanoi — Thu, 11 Jun 2026 08:20:28 +0000

The ITAT Bangalore upheld deduction of ESOP expenditure under Section 37, holding that the liability arising from employee stock options is an ascertained business expense. The Tribunal followed the Karnataka High Court ruling in Biocon Ltd. despite pending appeals before the Supreme Court.

The post ESOP Discount Allowed as Liability Accrues Over Vesting Period: ITAT Bangalore appeared first on TaxGuru.

No Section 68 Addition for Demonetization Cash Deposits Supported by Recorded Sales: ITAT Delhi

CA Sandeep Kanoi — Thu, 11 Jun 2026 08:18:54 +0000

The ITAT Delhi held that cash deposits during the demonetization period could not be treated as unexplained credits when they originated from duly recorded business sales accepted by the Revenue. The Tribunal upheld deletion of the addition under Section 68.

The post No Section 68 Addition for Demonetization Cash Deposits Supported by Recorded Sales: ITAT Delhi appeared first on TaxGuru.

Appeal Dismissal Under Section 249(4)(b) Invalid Without Advance Tax Liability: ITAT Hyderabad

CA Sandeep Kanoi — Thu, 11 Jun 2026 08:15:52 +0000

ITAT Hyderabad held that dismissal of an appeal under section 249(4)(b) was unjustified where the assessee claimed that the receipts were exempt retirement benefits and no advance tax liability arose. The matter was remanded to the AO to verify the nature and taxability of the amounts reflected in Form 16.

The post Appeal Dismissal Under Section 249(4)(b) Invalid Without Advance Tax Liability: ITAT Hyderabad appeared first on TaxGuru.

CIT(E) Cannot Judge Hospital Tariffs to Decide Charity: ITAT Restores Reliance Hospital Trust’s U/s 12AB Registration

cavkshetty — Thu, 11 Jun 2026 08:15:09 +0000

The Tribunal ruled that premium rooms, higher tariffs, and specialized medical facilities cannot by themselves establish a profit motive. Charitable status must be tested on statutory criteria rather than perceptions of affordability or luxury.

The post CIT(E) Cannot Judge Hospital Tariffs to Decide Charity: ITAT Restores Reliance Hospital Trust’s U/s 12AB Registration appeared first on TaxGuru.

ITAT Upholds FBT Additions on Employee-Related free tickets, hospitality, conveyance, goods & lodging

CA Sandeep Kanoi — Thu, 11 Jun 2026 08:13:47 +0000

The ITAT Delhi held that free tickets, hospitality, conveyance, goods, and lodging expenses attracted Fringe Benefit Tax under the applicable provisions. However, it ruled that rejection of the assessee's claims did not automatically justify penalty.

The post ITAT Upholds FBT Additions on Employee-Related free tickets, hospitality, conveyance, goods & lodging appeared first on TaxGuru.

ITAT Quashes Section 153C Assessments as Satisfaction Note Was Recorded After 1st April 2021

CA Sandeep Kanoi — Thu, 11 Jun 2026 08:12:04 +0000

Delhi ITAT held that assessments under Section 153C were invalid where the satisfaction note for the non-searched person was recorded after 01.04.2021. The Tribunal ruled that Section 153C(3) barred such proceedings, rendering the assessments void.

The post ITAT Quashes Section 153C Assessments as Satisfaction Note Was Recorded After 1st April 2021 appeared first on TaxGuru.

No Interest Disallowance When Own Funds Exceed Investments: ITAT Grants Major U/s 14A Relief

cavkshetty — Thu, 11 Jun 2026 08:09:36 +0000

The Tribunal held that no interest disallowance under Rule 8D(2)(ii) could be made where the assessee's interest-free funds substantially exceeded its investments. It reaffirmed that the Revenue must establish a direct nexus between borrowings and exempt-income investments.

The post No Interest Disallowance When Own Funds Exceed Investments: ITAT Grants Major U/s 14A Relief appeared first on TaxGuru.

Suspicion Is Not Evidence: ITAT Deletes Rs. 3.68 Crore ‘On-Money’ Addition Based on Flat Allotment Letters

cavkshetty — Thu, 11 Jun 2026 07:48:02 +0000

The Tribunal found that none of the purchasers examined by the Department had admitted making cash payments to the assessee. In the absence of statements, receipts, diaries, or other incriminating material, the allegation of on-money remained unsubstantiated. The addition based on presumptions was therefore set aside.

The post Suspicion Is Not Evidence: ITAT Deletes Rs. 3.68 Crore ‘On-Money’ Addition Based on Flat Allotment Letters appeared first on TaxGuru.

CIT(E) Cannot Ignore Existing Approval and Deny 12AB Renewal: ITAT Grants Relief to Jio Institute

cavkshetty — Thu, 11 Jun 2026 07:34:48 +0000

The Tribunal found that the assessee had duly complied with statutory requirements by obtaining approval after modifying its objects. The CIT(E)'s finding of non-compliance was therefore contrary to the record. Renewal of registration was directed in the absence of any adverse findings on charitable activities.

The post CIT(E) Cannot Ignore Existing Approval and Deny 12AB Renewal: ITAT Grants Relief to Jio Institute appeared first on TaxGuru.

Section 154 Rectification Allowed for Inadvertent LTCG Error in ITR: ITAT Kolkata

CA AJAY KUMAR AGRAWAL — Thu, 11 Jun 2026 07:08:15 +0000

The Tribunal held that an inadvertent mistake in Schedule 112A relating to the acquisition period of mutual fund units could be rectified under Section 154. Since the evidence showed that the assets were acquired before 31.01.2018, the Assessing Officer was directed to recompute the capital gains after verification.

The post Section 154 Rectification Allowed for Inadvertent LTCG Error in ITR: ITAT Kolkata appeared first on TaxGuru.

Loose Papers Alone Cannot Justify Income Tax Reopening Without Corroborative Evidence: Gujarat HC

CA AJAY KUMAR AGRAWAL — Thu, 11 Jun 2026 07:06:23 +0000

The Court held that reassessment proceedings cannot be sustained merely on the basis of an unsigned and unauthenticated loose paper lacking any connection with the taxpayer. In the absence of corroborative evidence linking the petitioner to the alleged transaction, the reopening notice and reassessment order were set aside.

The post Loose Papers Alone Cannot Justify Income Tax Reopening Without Corroborative Evidence: Gujarat HC appeared first on TaxGuru.

ITAT Remands Reassessment Case Due to Failure to Examine Additional Evidence

CA AJAY KUMAR AGRAWAL — Thu, 11 Jun 2026 07:04:20 +0000

ITAT Delhi set aside the assessment after finding that the assessees additional evidence had not been properly scrutinized by the tax authorities. The Tribunal emphasized adherence to principles of natural justice before sustaining additions.

The post ITAT Remands Reassessment Case Due to Failure to Examine Additional Evidence appeared first on TaxGuru.

West Bengal AAR Denies Reclaim of Reversed ITC Despite Retrospective Section 16(5) Amendment

CA Sandeep Kanoi — Thu, 11 Jun 2026 06:57:10 +0000

The Authority held that retrospective insertion of Section 16(5) does not permit reclaim of ITC already reversed under earlier rulings. It clarified that the amendment only overrides Section 16(4) and does not dilute other eligibility conditions under Section 16.

The post West Bengal AAR Denies Reclaim of Reversed ITC Despite Retrospective Section 16(5) Amendment appeared first on TaxGuru.

Concessional Tax Rate Cannot Be Denied Solely for Form 10-IC Late Filing: ITAT Delhi

CA Sandeep Kanoi — Thu, 11 Jun 2026 06:47:35 +0000

The Tribunal held that delayed filing of Form 10-IC should not defeat the assessee's substantive right to opt for the concessional tax regime under Section 115BAA. Since the intention to avail the lower tax rate was evident from the records, the benefit was allowed.

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Bombay HC Sets Aside Rejection of VAT Appeal Delay Plea as COVID Orders Extended Limitation

CA Sandeep Kanoi — Thu, 11 Jun 2026 06:44:30 +0000

The Bombay High Court held that limitation under Section 35 of the Goa VAT Act must be computed after excluding the COVID period where the assessment order itself was served during that period. The matter was remanded for fresh consideration of delay condonation.

The post Bombay HC Sets Aside Rejection of VAT Appeal Delay Plea as COVID Orders Extended Limitation appeared first on TaxGuru.

PSARA License Cost, Timeline & State Rules in India

Compliance Calendar LLP — Thu, 11 Jun 2026 06:42:18 +0000

This guide explains the complete PSARA License process, including fees, documentation, timelines, and state-wise requirements. The key takeaway is that obtaining a PSARA License is mandatory for legally operating a private security agency in India.

The post PSARA License Cost, Timeline & State Rules in India appeared first on TaxGuru.

Blocked Input Tax Credit under GST: Law, Litigation, Accounting, Circulars & Return Disclosure

gstrajender — Thu, 11 Jun 2026 06:41:38 +0000

The article explains that ITC eligibility under Section 16 can still be denied by the overriding provisions of Section 17(5). It highlights the importance of examining statutory restrictions before claiming GST credit.

The post Blocked Input Tax Credit under GST: Law, Litigation, Accounting, Circulars & Return Disclosure appeared first on TaxGuru.

Telangana HC Sends Rice Milling GST Demand Dispute to Appellate Forum

ADV AKRUTI GOYAL — Thu, 11 Jun 2026 06:32:16 +0000

The Telangana High Court held that if a taxpayer files an appeal within the prescribed period along with the statutory pre-deposit, recovery proceedings should not be initiated. The ruling reinforces the protection available to assessees during the appeal process under the GST law.

The post Telangana HC Sends Rice Milling GST Demand Dispute to Appellate Forum appeared first on TaxGuru.

Telangana HC Directs GST Appeal Against Section 74 Demand on Rice Milling By-Products

ADV AKRUTI GOYAL — Thu, 11 Jun 2026 06:31:14 +0000

The Telangana High Court held that if an appeal is filed within the prescribed period along with the statutory pre-deposit, recovery proceedings should not continue. The key takeaway is that taxpayers are protected from coercive recovery while availing their appellate remedy.

The post Telangana HC Directs GST Appeal Against Section 74 Demand on Rice Milling By-Products appeared first on TaxGuru.

TDS Under Section 194J Alone Cannot Determine Nature of Income for presumptive taxation

CA AJAY KUMAR AGRAWAL — Thu, 11 Jun 2026 06:30:23 +0000

The Tribunal held that deduction of tax under Section 194J cannot automatically classify receipts as professional income. Tax authorities must independently examine the nature of services before denying the benefit of Section 44AD. The matter was remanded for fresh assessment.

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Kerala HC Allows Branch ITC Claim as ISD Registration Was Not Mandatory Before April 2025

a2zbimaljain — Thu, 11 Jun 2026 06:24:32 +0000

The Kerala High Court ruled that businesses could distribute common ITC through cross-charge without obtaining ISD registration before April 1, 2025. The decision quashed GST demand and penalty, emphasizing that mandatory ISD registration applies only prospectively.

The post Kerala HC Allows Branch ITC Claim as ISD Registration Was Not Mandatory Before April 2025 appeared first on TaxGuru.

Accepted Contract Receipts, Accepted Purchases: ITAT Deletes Entire Bogus Purchase Addition

cavkshetty — Thu, 11 Jun 2026 06:24:18 +0000

The Mumbai ITAT held that no separate addition for alleged bogus purchases was warranted where contract receipts were accepted, substantial gross profit had already been disclosed, and there was no evidence of cash being returned to the assessee.

The post Accepted Contract Receipts, Accepted Purchases: ITAT Deletes Entire Bogus Purchase Addition appeared first on TaxGuru.

DRI Cannot Retain Seized Cash Beyond Six Months Without Valid Extension: Allahabad HC

a2zbimaljain — Thu, 11 Jun 2026 06:22:33 +0000

The Court held that retention of seized cash beyond six months is illegal if the extension order under Section 110(2) of the Customs Act is not communicated to the affected person within the statutory period. The ruling reinforces that procedural safeguards protecting taxpayers cannot be ignored.

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No Irrevocability Clause? No Problem: Trust Wins U/s 12AB & 80G Battle After Bombay HC Ruling

cavkshetty — Thu, 11 Jun 2026 06:16:40 +0000

Mumbai ITAT noted that the rejection of registration under Section 12AB solely due to the absence of an express irrevocability clause in the trust deed no longer survived after subsequent registration was granted.

The post No Irrevocability Clause? No Problem: Trust Wins U/s 12AB & 80G Battle After Bombay HC Ruling appeared first on TaxGuru.

Input Tax Credit Under GST: Conditions, Restrictions & Compliance

Kanan Gautam — Thu, 11 Jun 2026 06:07:08 +0000

Understand the key rules governing ITC claims under GST, including eligibility conditions, blocked credits, GSTR-2B reconciliation, and common compliance pitfalls.

The post Input Tax Credit Under GST: Conditions, Restrictions & Compliance appeared first on TaxGuru.

Redevelopment Flat Not Taxable U/s 56(2)(x); ITAT Grants Relief on Additional Area Purchase

cavkshetty — Thu, 11 Jun 2026 06:00:59 +0000

Mumbai ITAT held that if part consideration for additional area was paid through banking channels before the agreement date, the assessee may claim the benefit of the provisos to Section 56(2)(x).

The post Redevelopment Flat Not Taxable U/s 56(2)(x); ITAT Grants Relief on Additional Area Purchase appeared first on TaxGuru.

PSARA License Requirements: Documents & Eligibility Guide

Compliance Calendar LLP — Thu, 11 Jun 2026 05:51:00 +0000

Learn why a PSARA License is mandatory for private security agencies and understand the eligibility conditions, documentation, and approval process involved.

The post PSARA License Requirements: Documents & Eligibility Guide appeared first on TaxGuru.

Provident Housing v. Karnataka RERA: Karnataka HC on RERA Jurisdiction

Kritika Sharma — Thu, 11 Jun 2026 05:50:21 +0000

The Karnataka High Court held that projects obtaining partial occupancy certificates before RERA came into force are exempt from being treated as ongoing projects, thereby excluding RERA's jurisdiction.

The post Provident Housing v. Karnataka RERA: Karnataka HC on RERA Jurisdiction appeared first on TaxGuru.

Period of limitation prescribed under Income-tax Act, 1961

Editor6 — Thu, 11 Jun 2026 05:46:45 +0000

A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to penalties, loss of deductions, exemptions, and legal remedies. The key takeaway is that timely compliance with filing, assessment, appeal, audit, and tax payment obligations is crucial to avoid adverse tax consequences.

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Draft Order or Final Order in Disguise? ITAT Quashes Assessment for Violating Section 144C

cavkshetty — Thu, 11 Jun 2026 05:45:23 +0000

Mumbai ITAT held that an order labelled as a draft assessment order loses its character if accompanied by demand notices and penalty initiation. Failure to comply with Section 144C renders the assessment void and without jurisdiction.

The post Draft Order or Final Order in Disguise? ITAT Quashes Assessment for Violating Section 144C appeared first on TaxGuru.

How to Convert a Public Company into a Private Company Under Companies Act 2013?

csrohit91 — Thu, 11 Jun 2026 05:42:04 +0000

This guide explains the legal provisions, procedural steps, and filing requirements involved in converting a public company into a private company under the Companies Act, 2013.

The post How to Convert a Public Company into a Private Company Under Companies Act 2013? appeared first on TaxGuru.

Telangana HC Permits Delayed GST Appeal Over Order Upload in Additional Notices Tab

ADV AKRUTI GOYAL — Thu, 11 Jun 2026 05:39:52 +0000

The Telangana High Court declined to examine the merits of the GST assessment order and allowed the taxpayer to pursue the statutory appellate remedy. The Court clarified that the appellate authority should consider the delay condonation plea based on the reasons explained by the assessee.

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SC Upholds GST On Online Gaming, Fantasy Sports & Casinos

Sarang Sharma — Thu, 11 Jun 2026 05:37:49 +0000

The Supreme Court ruled that fantasy sports involving monetary stakes constitute betting and gambling for GST purposes. The judgment confirms that skill elements do not negate GST liability where outcomes remain uncertain.

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Telangana HC Directs Appeal Against GST Demand Despite Procedural Objections

ADV AKRUTI GOYAL — Thu, 11 Jun 2026 05:34:57 +0000

The Telangana High Court declined to examine the merits of the GST demand but permitted the taxpayer to file a statutory appeal with a delay condonation application. The ruling highlights that appellate remedies remain available even where notices are claimed to have been discovered belatedly through the GST portal.

The post Telangana HC Directs Appeal Against GST Demand Despite Procedural Objections appeared first on TaxGuru.

Telangana HC Sets Aside Cryptic GST Registration Revocation Rejection

ADV AKRUTI GOYAL — Thu, 11 Jun 2026 05:32:59 +0000

The Telangana High Court held that an order rejecting delay condonation without assigning reasons suffers from lack of application of mind. The key takeaway is that authorities must pass speaking orders while deciding applications for revocation of GST registration cancellation.

The post Telangana HC Sets Aside Cryptic GST Registration Revocation Rejection appeared first on TaxGuru.

Telangana HC Allows GST Appeal Against Section 74 Demand

ADV AKRUTI GOYAL — Thu, 11 Jun 2026 05:31:50 +0000

The Telangana High Court permitted the taxpayer to file a delayed appeal against the GST demand and penalty order passed under Section 74. The key takeaway is that the appellate authority may condone delay after considering that the taxpayer had been pursuing a writ remedy.

The post Telangana HC Allows GST Appeal Against Section 74 Demand appeared first on TaxGuru.

Share Premium Can’t Be Taxed U/s 68 Merely Because AO Finds It Excessive: Mumbai ITAT

cavkshetty — Thu, 11 Jun 2026 05:30:47 +0000

The Tribunal ruled that the Assessing Officer cannot tax share premium under Section 68 solely on the basis that the premium lacks commercial justification. Valuation concerns fall outside the scope of Section 68 for years prior to the introduction of Section 56(2)(viib).

The post Share Premium Can’t Be Taxed U/s 68 Merely Because AO Finds It Excessive: Mumbai ITAT appeared first on TaxGuru.

Delhi HC Rejects Clarification Plea as Earlier Bail Order Was Already Unambiguous

CA Sandeep Kanoi — Thu, 11 Jun 2026 05:26:18 +0000

The Delhi High Court held that its earlier order directing the applicant to join investigation within ten days required no further clarification. The Court ruled that the applicant had failed to act within the stipulated timeline despite adequate directions.

The post Delhi HC Rejects Clarification Plea as Earlier Bail Order Was Already Unambiguous appeared first on TaxGuru.

Representation on procedural issues in filing of appeals before GSTAT

editor4 — Thu, 11 Jun 2026 05:25:49 +0000

The Rajasthan GSTAT Bar has urged the Tribunal to adopt a pragmatic approach by accepting pre-deposits made through the Electronic Credit Ledger and refraining from objecting to original Hindi records filed with appeals.

The post Representation on procedural issues in filing of appeals before GSTAT appeared first on TaxGuru.

CAM Charges Attract TDS Under Section 194C and not Under 194J: ITAT Delhi

CA Sandeep Kanoi — Thu, 11 Jun 2026 05:11:48 +0000

The ruling emphasized that CAM charges remain separate transactions irrespective of whether payments are made to the same landlord or a different entity. TDS under Section 194C was held to be correctly deducted.

The post CAM Charges Attract TDS Under Section 194C and not Under 194J: ITAT Delhi appeared first on TaxGuru.

NCLT Rejects Section 95 Petition Due to Non-Invocation of Personal Guarantee

CA Sandeep Kanoi — Thu, 11 Jun 2026 05:10:12 +0000

The NCLT held that insolvency proceedings against a personal guarantor cannot proceed unless the guarantee has been specifically invoked through a contractual demand notice. A Rule 7 notice under the Personal Guarantor Rules was found to be merely procedural. Since no valid invocation was established, the Tribunal ruled that no default had arisen under the IBC.

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ITAT Deletes TDS Demand as Seller’s PAN Was Regularised Within CBDT Timeline

CA Sandeep Kanoi — Thu, 11 Jun 2026 05:08:17 +0000

The Tribunal held that, apart from the CBDT clarification, the seller had declared the capital gains and discharged taxes. Therefore, the purchaser could not be treated as an assessee in default under Section 201(1).

The post ITAT Deletes TDS Demand as Seller’s PAN Was Regularised Within CBDT Timeline appeared first on TaxGuru.

NCLT Rejects CIRP Plea as Alleged Operational Debt Was Based on Unreliable Documents

CA Sandeep Kanoi — Thu, 11 Jun 2026 05:06:45 +0000

The NCLT dismissed the insolvency application after finding that the agreements forming the basis of the alleged operational debt were not properly executed. The absence of signatures and uncertainty regarding execution dates undermined their evidentiary value. As a result, the applicant failed to establish a maintainable claim under Section 9 of the IBC.

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Income Tax Refund Interest payable up to actual date of refund issuance: ITAT Delhi

CA Sandeep Kanoi — Thu, 11 Jun 2026 04:57:44 +0000

The Tribunal held that interest under Section 244A must be computed up to the actual date of refund issuance. Restricting interest to the date of refund determination under Section 143(1) was found to be incorrect.

The post Income Tax Refund Interest payable up to actual date of refund issuance: ITAT Delhi appeared first on TaxGuru.

Section 56(2)(viib) Not Applicable to CCD Conversion Without Fresh Consideration: ITAT Delhi

CA Sandeep Kanoi — Thu, 11 Jun 2026 04:43:51 +0000

The ITAT held that Section 56(2)(viib) cannot apply where equity shares are issued upon conversion of CCDs without receipt of fresh consideration during the relevant year. The ruling emphasizes that the provision is triggered only upon actual receipt of share consideration.

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Anticipatory Bail Rejected in Liquor Policy Case Due to Serious Allegations of ₹3,200 Crore Kickback Conspiracy

CA Sandeep Kanoi — Thu, 11 Jun 2026 04:42:26 +0000

The High Court refused anticipatory bail, holding that the investigation into the alleged liquor syndicate was at a crucial stage and required custodial interrogation of the accused. The Court found no exceptional circumstances warranting pre-arrest protection.

The post Anticipatory Bail Rejected in Liquor Policy Case Due to Serious Allegations of ₹3,200 Crore Kickback Conspiracy appeared first on TaxGuru.

Reassessment Beyond Four Years Invalid Without Finding of Failure to Disclose Material Facts: ITAT Delhi

CA Sandeep Kanoi — Thu, 11 Jun 2026 04:31:46 +0000

The ITAT held that reassessment initiated beyond four years cannot survive unless the Assessing Officer records that the assessee failed to fully and truly disclose material facts. Since the recorded reasons contained no such allegation, the notice under Section 148 was declared invalid. The consequential reassessment order was quashed.

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