ITR filing for salaried employees with mutual fund AY 2026-27 Salaried employees who redeemed or switched Mutual Funds cannot file the standard ITR-1 form. You must file ITR-2 for Assessment Year (AY) 2026-27 (Financial Year 2025-26) to report mutual fund capital gains. Even if you only switched from one scheme to another (e.g., Growth to… Read More »
Ex parte order passed without serving a hearing notice violates natural justice and cannot be sustained. Issue Whether an Order-in-Original confirming a tax demand, interest, and penalty can be legally sustained under Sections 75 and 169 of the CGST/OGST Act when the notice fixing the personal hearing date was not served on the taxpayer until… Read More »
Completion of investigation and bail granted to co-accused entitle the petitioner to regular bail under parity. Issue Whether the Petitioner (Accused No. 2), arrested for allegedly availing fake Input Tax Credit (ITC) via fraudulent invoices under the CGST/TGST Act, is entitled to regular bail under Sections 480 and 483 of the Bharatiya Nagarik Suraksha Sanhita,… Read More »
ITR filing for salaried employees with share market ay 2026-27 Salaried employees who trade or invest in the share market cannot file the standard ITR-1 form. Your choice between ITR-2 and ITR-3 for Assessment Year (AY) 2026-27 (Financial Year 2025-26) depends entirely on the nature of your stock market transactions. Filing the wrong form or… Read More »
Anticipatory bail granted to Managing Director after deposit of disputed ITC amount and full procedural cooperation. Issue Whether the Managing Director of a listed company is entitled to anticipatory (pre-arrest) bail under Section 482 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS) during a DGGI investigation into the alleged wrongful availment of Input Tax Credit… Read More »
Active role in a multi-crore GST syndicate and gravity of economic fraud override automatic bail claims. Issue Whether an accused person, allegedly involved in a structured syndicate generating sham invoices and fake e-way bills leading to a tax evasion of ₹48.41 crore, is entitled to regular bail, default bail under the 60-day trial clause, or… Read More »
Revisiting settled issues under Section 74 without fresh material or intent to evade is an unsustainable jurisdictional error. Issue Whether a writ petition under Article 226 of the Constitution is maintainable to challenge a Show Cause Notice (SCN) issued under Section 74 of the CGST/RGST Act at the threshold, when the notice seeks to revive… Read More »
Participation in an appeal cannot cure the foundational defect of a vague, non-speaking show cause notice. Issue Whether a cryptic and vague Show Cause Notice (SCN) for GST registration cancellation, which lacks specific details of alleged contraventions, can be legally sustained or “cured” by the taxpayer’s subsequent participation and submission of justifications during the statutory… Read More »
Supreme Court issues notice on Revenue’s SLP against High Court ruling that road restoration reimbursements are not taxable supplies. Issue Whether the reimbursement of road restoration charges paid by a GST-registered electricity distribution licensee to a Municipal Corporation for digging roads to lay distribution lines constitutes a taxable supply of “agreeing to tolerate an act”… Read More »
Divergent views and GST Council indecision cannot deprive liquor manufacturers of their entitlement to C-Forms. Issue Whether a state government can refuse to issue C-Forms under the Central Sales Tax Act, 1956 for the inter-State purchase of Extra Neutral Alcohol (ENA) used in manufacturing alcoholic liquor for human consumption during the transitional period (1 July… Read More »