IMPORTANT INCOME TAX CASE LAWS 27.03.2026 Relevant Act Section Case Law Title / Authority Brief Summary Citation Income Tax Act Sec 72 & 139 Technovaa Plastic Industries v. CBDT IBC Priority: Revenue must allow carry forward of losses and condone filing delays if a Resolution Plan approved by the NCLT explicitly provides for such tax… Read More »
Supreme Court Affirms Clean Slate Doctrine: Pre-Approval Tax Reopening Under Section 148 Barred by IBC. Core Facts of the Case The CIRP Context: The Corporate Debtor (assessee) was admitted into insolvency proceedings on 01.09.2020. A Resolution Plan submitted by Steel Wheels Ltd. was eventually approved by the NCLT on 12.10.2023. The Waiver Clause: The NCLT-approved… Read More »
A 15-month delay in recording a satisfaction note after the searched person’s assessment is completed is legally fatal. Facts The Search: A search was conducted on two individuals in February 2021. The Target: Material was seized that allegedly belonged to the “Other Person” (the Assessee company). The Timeline: The assessment for the “Searched Persons” was… Read More »
The Assessing Officer cannot arbitrarily switch the valuation method from DCF to NAV if the assessee has exercised a valid statutory option. Facts of the Case The Transaction: For AY 2015-16, the assessee (a microfinance company) issued rights shares at a premium to another NBFC. Valuation Method: The assessee chose the Discounted Cash Flow (DCF)… Read More »
Failure of a Resolution Professional (RP) to file returns constitutes “Genuine Hardship” for the new management. The Facts: During the Corporate Insolvency Resolution Process (CIRP), the erstwhile management was suspended, and the RP was in control. The RP failed to conduct statutory audits or file Income Tax Returns (ITR) for AY 2018-19 and 2019-20. Once… Read More »
BSNL VRS-2019: Exemption as Retrenchment Compensation (Section 10(10B)) The Dispute: Voluntary Retirement or Forced Retrenchment? The Context: In 2019, Bharat Sanchar Nigam Limited (BSNL) launched a massive Voluntary Retirement Scheme (VRS) to reduce its workforce and curb heavy financial losses. The Tax Conflict: * Revenue’s Stand: The Assessing Officer (AO) argued the scheme was “voluntary,”… Read More »
IMPORTANT GST CASE LAWS 27.03.2026 Relevant Act Section Case Law Title / Authority Brief Summary Citation CGST Act, 2017 Section 9 Easy Flux Polymers (P.) Ltd., In re Biodegradable Bags: Following Notification 9/2025-CT, certified biodegradable bags attract a concessional 5% GST (Entry 319). Non-biodegradable plastic bags remain under the standard higher rate. Click Here CGST… Read More »
Quashing of Ex Parte Order for Non-Service of SCN (Section 169) Facts The Notice: For the period 2017-18, the Respondent (Tax Authority) issued a Show Cause-cum-Demand Notice (SCN) under Section 74 (alleging fraud or willful misstatement). The Order: An ex parte adjudication order was subsequently passed, confirming a significant tax demand along with penalties. The… Read More »
Quashing of Detention Order (MOV-09) for Non-Consideration of Reply Facts The Detention: The Petitioner’s goods and conveyance were detained in transit, and an order was issued in Form GST MOV-06 (Detention Order), followed by a tax and penalty demand in Form GST MOV-09. The Explanation: The Petitioner filed a detailed reply (specifically in Paragraph 7)… Read More »
Mandatory Nature of Pre-deposit for Filing GST Appeals (Section 107) Facts The Adjudication: For the period of August and September 2022, the Petitioner-taxpayer paid the outstanding tax amount during the course of investigation/adjudication via Form DRC-03. The Penalty: Despite the tax payment, the Adjudicating Authority imposed additional penalty and interest in the final order. The… Read More »