Memorandum Explaining the Provisions in the Finance Bill, 2026 Memorandum detailing the proposed legislative changes in the Finance Bill, 2026. It covers a wide range of topics, including: Direct Taxes: Proposed amendments to the Income-tax Act, 1961, and the Income-tax Act, 2025, including tax rates, surcharges, and various rationalization measures. Ease of Living: Initiatives like… Read More »
Finance Bill 2026: Key Proposals and Tax Amendments The Finance Bill, 2026, introduced on February 1, 2026, outlines the financial proposals of the Central Government for the fiscal year 2026-2027. It introduces significant structural changes, including the transition to the Income-tax Act, 2025, and new schemes for asset disclosure. download link : Finance_Bill
IMPORTANT GST CASE LAWS 31.01.2026 Relevant Act Section Case Law Title Brief Summary Citation CGST Act, 2017 Section 47 Ms. Kandan Hardware Mart v. Asst. Comm. (ST) [Late Fee is Penal] The Court clarified that “Late Fee” u/s 47(2) is essentially a penal levy. Since it lacks quid pro quo and aims to deter breaches… Read More »
Madras High Court Ruling: Late Fees under Section 47 vs. General Penalty under Section 125 1. The Nature of “Late Fee” under Section 47 The Court provided a profound legal interpretation of what constitutes a “fee” in the context of late filings. Penal in Nature: The Court held that “Late Fee” collected under Section 47(2)… Read More »
Calcutta High Court Restores Appeal: Appellate Authority Cannot Ignore Special Amnesty Notifications 1. The Core Dispute: Amnesty vs. Statutory Limitation The petitioner was caught in a cycle of litigation regarding a partially rejected refund claim from 2020. Initial Rejection: The refund was rejected in 2020. The first appeal (filed in Sept 2020) was dismissed in… Read More »
Bombay High Court Quashes Consolidated Section 74 Notices: Multiple Financial Years Cannot Be Clubbed 1. The Core Dispute: Consolidated vs. Year-Wise Notices The Revenue issued a single, composite Show Cause Notice (SCN) under Section 74 of the CGST Act, covering multiple financial years. The notice alleged that the assessee had suppressed taxable value and made… Read More »
Bombay High Court Mandates 3-Month Gap Between SCN and Final Order under Section 73 1. The Core Dispute: Compressed Adjudication Timelines The petitioner challenged a demand order passed under Section 73 of the CGST Act, which deals with tax dues not involving fraud or suppression. The Timeline: The Revenue issued the Show Cause Notice (SCN)… Read More »
Substantive Entitlement Over Technical Lacunae: Gujarat High Court Rules on Blocked IGST Refunds 1. The Core Dispute: Size Constraints and System Errors The assessee, an exporter, faced a series of technical hurdles while attempting to claim a refund of accumulated IGST from zero-rated supplies. Size Constraints: Due to the large volume of exports, shipping bills… Read More »
IMPORTANT INCOME TAX CASE LAWS 31.01.2026 Relevant Act Section Case Law Title Brief Summary Citation Income-tax Act, 1961 Section 11 / 13 Sri Srinivasa Educational & Charitable Trust v. DCIT [Search Relief for Trusts] Inconclusive DVO reports and surmises regarding “fund diversion” are insufficient to deny exemption. The Court upheld COVID relief expenditure as genuine… Read More »
Supreme Court Modifies High Court Order: Direct Tax Demand Barred, but Software Mandate Relaxed 1. The Core Conflict: The “Employer Default” Problem This case addresses a common grievance: an employer deducts tax (TDS) from an employee’s salary but fails to deposit it into the Government treasury. The Problem: When the employee files their return, the… Read More »