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Highlights Highlights, Income Tax, GST, Import Eport and Corporate Laws

ITAT deletes transfer pricing adjustment on management fees, upholds TNMM over CUP method under section 92C(2)
July 3, 2025   Case Laws     Income Tax

Livestock dealer's 0.6% gross profit rate retained after books rejection, ITAT restricts assessment to declared rate exceeding 0.5% benchmark.
July 3, 2025   Case Laws     Income Tax

Provisional attachment upheld for properties acquired as value of proceeds despite pre-PMLA acquisition timing
July 3, 2025   Case Laws     Money Laundering

ITAT quashes reassessment under section 147 for missing mandatory notice under section 143(2) and failure to provide reopening reasons
July 3, 2025   Case Laws     Income Tax

ITAT deletes additions for unaccounted income and unexplained jewelry following Rajeshwar Singh Yadav precedent and accepting engagement gift explanation
July 3, 2025   Case Laws     Income Tax

Reopening assessment under Section 147 invalid when based on mere change of opinion without fresh material
July 3, 2025   Case Laws     Income Tax

Anticipatory bail denied in Rs 300 crore money laundering case involving forged documents and flight risk
July 3, 2025   Case Laws     Money Laundering

Assessment order quashed for violating Faceless Assessment SOP under section 144B requiring mandatory physical communication
July 3, 2025   Case Laws     Income Tax

Reassessment notice quashed where legal heirs denied section 54 capital gains deduction despite proper disclosure and valid investment
July 3, 2025   Case Laws     Income Tax

Non-resident taxpayer wins challenge against rejected delay condonation for income tax return filing due to medical unfitness
July 3, 2025   Case Laws     Income Tax

Revenue addition for 110gms unexplained jewellery upheld despite CBDT Circular 1916/1994 allowances
July 3, 2025   Case Laws     Income Tax

Seizure memo for 17,085 kg betel nuts quashed due to failure to record reasons under sections 7, 11, 46, 47
July 3, 2025   Case Laws     Customs

AO cannot invoke Section 145(3) without identifying specific infirmities in assessee's books of accounts
July 3, 2025   Case Laws     Income Tax

Demurrage charges excluded from transfer pricing analysis as extraordinary costs, notional interest on receivables rejected
July 3, 2025   Case Laws     Income Tax

Tax authority order set aside for failing to credit 58% differential amount remitted through electronic ledger
July 3, 2025   Case Laws     GST

GST assessment orders upheld despite claimed clerical errors causing Rs 4.41 crore turnover suppression
July 3, 2025   Case Laws     GST

NCLAT rejects 280-day delay condonation for appeal refiling due to insufficient cause and casual conduct under Rule 26(2)
July 3, 2025   Case Laws     IBC

Plastic Rooter Trainer Cups classified under CTH 3926 90 99 not HSN 8201 90 00, GST rate 18%
July 3, 2025   Case Laws     GST

Commissioner fails to block interest on unauthorized revenue deposit refund of Rs. 74,72,348 under Section 27A
July 3, 2025   Case Laws     Customs

Auctioneer's commission on cardamom auctions liable to GST despite exemption claims for agricultural commission agents
July 3, 2025   Case Laws     GST

ITAT applies 5% net profit rate on total turnover after rejecting books for suppressed transactions
July 3, 2025   Case Laws     Income Tax

ITAT overturns Section 68 additions on cash deposits during demonetization with proper documentation and trading evidence
July 3, 2025   Case Laws     Income Tax

Assessee wins appeal against Section 147 reopening and bogus LTCG addition on penny stocks
July 3, 2025   Case Laws     Income Tax

Investment advisers penalized for unregistered activities through partnership firms while concealing facts during registration applications
July 3, 2025   Case Laws     SEBI

Proportionate refund from cancelled pre-GST lease agreement not taxable under GST as no supply involved
July 3, 2025   Case Laws     GST

More Highlights

Articles Articles, Tax Laws, GST

Short Notes Short Notes

Compliance Fee for Delay in Furnishing Statements and Certificates : Clause 429 of Income Tax Bill, 2025 Vs. Section 234G of Income-tax Act, 1961
Fee for Delay in Income Tax Return Filing under Indian Income Tax Law : Clause 428 of the Income Tax Bill, 2025 Vs. Section 234F of the Income-tax Act, 1961
Fee for Default in Furnishing Statements of TDS/TCS : Clause 427 of the Income Tax Bill, 2025 Vs. Section 234E of the Income-tax Act, 1961
Legal and Practical Implications of Charging Interest on Excess Refunds under the Income Tax Regime : Clause 426 of the Income Tax Bill, 2025 Vs. Section 234D of the Income-tax Act, 1961
Modernizing Interest Provisions for Advance Tax : Clause 425 of the Income Tax Bill, 2025 Vs. Section 234C of the Income-tax Act, 1961
Modernizing Interest Liability for Advance Tax Defaults : Clause 424 of the Income Tax Bill, 2025 vs. Section 234B of the Income-tax Act, 1961
Interest for Defaults in Furnishing Return of Income : Clause 423 of the Income Tax Bill, 2025 Vs. Section 234A of the Income Tax Act, 1961
Government's Rights to Recover Tax Arrears : Clause 421 of the Income Tax Bill, 2025 Vs. Section 232 of the Income-tax Act, 1961
Delegated Powers in Indian Tax Law : Clause 532 of the Income Tax Bill, 2025 Vs. Section 231 of the Income Tax Act, 1961
Legal and Practical Perspectives on Tax Clearance for Departing Individuals under Indian Tax Law : Clause 420 of the Income Tax Bill, 2025, Vs. Section 230 of the Income-tax Act, 1961
Uniform Recovery Mechanisms in Indian Tax Law : Clause 419 of the Income Tax Bill, 2025 vs. Section 229 of the Income-tax Act, 1961
International Tax Recovery Mechanisms under Indian Law : Clause 418 of the Income Tax Bill, 2025 Vs. Section 228A of the Income Tax Act, 1961
Evaluating the Mechanism for Income Tax Recovery via State Governments in India : Clause 417 of the Income Tax Bill, 2025 Vs. Section 227 of the Income-tax Act, 1961
Garnishee Proceedings and Tax Recovery : Clause 416 of the Income Tax Bill, 2025 Vs. Section 226 of the Income-tax Act, 1961
Analysis of Stay and Amendment Provisions in Tax Recovery: Clause 415 of the Income Tax Bill, 2025 vs. Section 225 of the Income-tax Act, 1961
Validity and Amendment of Tax Recovery Certificates : Clause 413(4) of the Income Tax Bill, 2025 Vs. Section 224 of the Income-tax Act, 1961
Jurisdiction and Procedure for Tax Recovery : Clause 414 of the Income Tax Bill, 2025 Vs. Section 223 of the Income-tax Act, 1961
Evolution and Implications of Tax Recovery Provisions in India : Clause 413 of the Income Tax Bill, 2025 Vs. Section 222 of the Income-tax Act, 1961
Legal and Practical Aspects of Penalty for Tax Default under the New and Old Income Tax Laws : Clause 412 of the Income Tax Bill, 2025 Vs. Section 221 of the Income-tax Act, 1961
Comparative Analysis of Tax Recovery and Default Provisions : Clause 411 of the Income Tax Bill, 2025 Vs. Section 220 of the Income Tax Act, 1961
Streamlining Advance Tax Credit in Indian Tax Legislation : Clause 410 of the Income Tax Bill, 2025 Vs. Section 219 of the Income Tax Act, 1961
Analyzing the Deeming Provisions for Advance Tax Default : Clause 409 of the Income Tax Bill, 2025 vs. Section 218 of the Income-tax Act, 1961
Evolution and Implications of Advance Tax Instalment Provisions : Clause 408 of the Income Tax Bill, 2025 Vs. Section 211 of the Income-tax Act, 1961
Assessing Officer's Powers and Taxpayer Rights in Advance Tax : Clause 407 of the Income Tax Bill, 2025 Vs. Section 210(3)-(6) of the Income-tax Act, 1961
Reforming Advance Tax Obligations : Clause 406 of the Income Tax Bill, 2025 Vs. Section 210 of the Income-tax Act, 1961

More Notes

Notifications Notifications

IT

- Amendment in Notification No. 44/2017 dated 5th June, 2017
July 1, 2025

Cus (NT)

- Appointment of Common Adjudicating Authority for the purpose of finalization of Provisional Assessment in SVB case w.r.t. M/s MB Crusher
June 30, 2025

Cus (NT)

- Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
June 30, 2025

Cus

- Seeks to amend Notification No. 130/2010-Customs, dated the 23rd December, 2010 - Exemption from Additional duty on specified goods by designated airlines when imported from specified countries
June 30, 2025

FTP

- Extension in Minimum Import Price (MIP) Condition on import of Soda Ash covered under Chapter 28 of ITC (HS) 2022, Schedule-I (Import Policy)
June 30, 2025

FTP

- Continuation of imposition of Quantitative Restriction on import of Low Ash Metallurgical Coke under Chapter 27 of ITC (HS) 2022, Schedule - I (Import Policy)
June 30, 2025

Co. Law

- Companies (Restriction on number of layers) Amendment Rules, 2025
June 27, 2025

Co. Law

- Companies (Incorporation) Amendment Rules, 2025
June 27, 2025

FTP

- Port restriction on import of certain goods from Bangladesh to India under ITC (HS), 2022 Schedule 1 (Import Policy)
June 27, 2025

CVD

- Seeks to impose CVD on Digital Offset Printing Plates, originating in or exported from China PR and Taiwan
June 27, 2025

ADD

- Seeks to impose Anti Dumping Duty on imports of Plastic Processing Machines originating in, or exported from China PR and Taiwan for a period of 5 years
June 26, 2025

CVD

- Seeks to impose CVD on imports of " Effect pearlescent pigments or mica pearlescent pigments, excluding effect pigments for automotive applications " originating in or exported from China PR for a period of 5 years
June 26, 2025

FTP

- Corrigendum to Notification No. 18/2025-26 dated 17.06.2025 on amendment in Import Policy of specific items covered under Chapter 71 of ITC (HS) 2022 of Schedule -I (Import Policy)
June 25, 2025

SEBI

- Notification Under Securities and Exchange Board of India (Certification of Associated Persons in the Securities Markets) Regulations, 2007
June 25, 2025

IT

- Agreement between the Government of the Republic of India and the Government of Sultanate of Oman for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes
June 25, 2025

More Notifications

Circulars/ Public Notices Circulars/ Public Notices

DGFT

- Procedure for filing application for obtaining Import Authorisation for import of Low Ash Metallurgical Coke subject to Country-wise Quantitative Restrictions (QR)
July 2, 2025

SEBI

- Ease of Doing Investment Special Window for Re-lodgement of Transfer Requests of Physical Shares
July 2, 2025

Customs

- Registration of Importers of Plastic Raw Material on Centralized EPR Portal for Plastic Packaging as per Plastic Waste Management Rules, 2016 (as amended)
July 2, 2025

Customs

- Port restriction on import of certain goods from Bangladesh to India under ITC (HS), 2022 Schedule 1 (Import Policy)
July 1, 2025

Income Tax

- Clarification regarding CBDT's Circular No. 5/2025 dated 28.03.2025 for waiver on levy of interest under section 201(1A)(ii)/ 206C(7) of the Income-tax Act, 1961, as the case may be, in specific cases
July 1, 2025

SEBI

- Extension towards Adoption and Implementation of Cybersecurity and Cyber Resilience Framework (CSCRF) for SEBI Regulated Entities (REs)
June 30, 2025

SEBI

- Timelines for rebalancing of portfolios of mutual fund schemes in cases of all passive breaches
June 26, 2025

SEBI

- Industry Standards on Minimum information to be provided to the Audit Committee and Shareholders for approval of Related Party Transactions
June 26, 2025

DGFT

- Amendment under Appendix 2T (List of Export Promotion Councils/Commodity Boards/Export Development Authorities) of Appendices and ANFs of FTP 2023
June 25, 2025

DGFT

- Amendment in details of an authorized agency enlisted under Appendix 2E of FTP, 2023 - Agency authorized to issue Certificate of Origin (Non - Preferential)
June 25, 2025

Income Tax

- Relaxation of time limit for processing of valid returns of income filed electronically pursuant to order u/s 119(2)(b) of the Income-tax Act, 1961 passed by Competent Authority
June 25, 2025

FEMA

- Extension of the validity of FCRA registration certificates
June 24, 2025

GST

- Reviewing authority, Revisional Authority and Appellate Authority in respect of orders passed by Common Adjudicating Authority (CAA) for show cause notices issued by DGGI
June 24, 2025

Customs

- Extension of validity of the NOC for the Alcoholic Beverages Bottled in Origin & in Bulk
June 20, 2025

Customs

- Amendment in Import Policy of items covered under CTH 2843 under Chapter 28 of ITC (HS) 2022 of Schedule-I (Import Policy)
June 20, 2025

More Circulars

News News, PIB

Chhattisgarh CM warns against GST frauds, says revenues vital for development
July 2, 2025


RBI directs banks, other lenders not to levy pre-payment charges on biz loans to individuals, MSEs
July 2, 2025


SBI to tag RCom loan account as 'fraud'; names Anil Ambani in report to RBI
July 2, 2025


ED arrests CA in money laundering case against ex-UCO Bank CMD
July 2, 2025


Income Tax Department launches 3-day 'Taxpayers' Hub' event in Chandigarh
July 2, 2025


NCLT approves Adani Properties' bid for 2 HDIL assets
July 2, 2025


Generic Aadhaar Launches Stree Shakti A No-Profit Initiative to Empower Rural Women Through Menstrual Hygiene Awareness
July 2, 2025


Analysis shows Trump's tariffs would cost US employers USD 82.3 billion
July 2, 2025


Global shares are mostly higher as Trump's tariffs deadline looms
July 2, 2025


SBI to tag RCom loan account as 'fraud', names Anil Ambani in report to RBI
July 2, 2025


Appreciate enhanced measures to strengthen Aadhaar issuance process in Manipur: Biren Singh
July 2, 2025


Bridging the Credit Gap: The Evolution of India s Credit Reporting Infrastructure (Keynote Address delivered by Shri M Rajeshwar Rao, Deputy Governor, Reserve Bank of India - July 01, 2025 - at TransUnion CIBIL s Credit Conference in Mumbai)
July 2, 2025


SBI to classify RCom loan account as 'fraud', name Anil Ambani in report to RBI
July 2, 2025


CCI approves acquisition of shares of Billionbrains Garage Ventures Limited by Viggo Investment Pte. Ltd.
July 2, 2025


CCI approves the proposed investment by British International Investment plc in ReNew Photovoltaics Private Limited.
July 2, 2025


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Service to humanity is Service to God

May I be born again and again, and suffer thousands of miseries so that I may worship the only God that exists, the only God I believe in, the sum total of all souls—and above all, my God the wicked, my God the miserable, my God the poor of all races, of all species, is the special object of my worship.

- Swami Vivekananda, CW, 5:137

 

 

 

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