"Health Security Se National Security" Cess On Pan Masala, Tobacco Manufacturing Enforceable From Feb 01

The Ministry of Finance, Department of Revenue has notified February 01, 2026, as the date for enforcement of the Health Security Se National Security Cess Act, 2025 levying a Health Security se National Security Cess on machines used in manufacture of pan masala and similar items. The Health Security Se National Security Cess Act, 2025 (the Act) requires a manufacturer to...

Income Tax Act | Long Term Capital Gains Exemption Available Even If Residential House Was Demolished Before Sale: Madras High Court

The Madras High Court held that the Long-Term Capital Gains exemption under Section 54 of the Income Tax Act cannot be denied merely because the residential house was demolished before its sale. The bench stated that since the sale took place later and the assessee reinvested the capital gains in another house within the prescribed time, the exemption is allowable. Section 54 of...

MCA Extends Deadline For Filing Financial Statements, Annual Returns Under Companies Act Till January 31, 2026

The Ministry of Corporate Affairs, on 30th December, 2025, extended the deadline for filing Financial Statements and Annual Returns under the Companies Act, 2013, up to 31st January, 2026. Initially, the due date for filing financial statements and annual returns for F.Y. 2024-25 was till 31st December, 2025. The decision was taken after representations were received from...

Kerala High Court Asks Centre To Decide Whether SNDP Yogam Is Governed By Companies Act Or Kerala NTC Act

The Kerala High Court, in a recent decision, directed the Union government to comply with a 2009 Delhi High Court order and decide if the Sree Narayana Dharma Paripalana Yogam (SNDP Yogam) is governed by the Companies Act or the Kerala Non-Trading Companies Act.The Division Bench comprising Justice Devan Ramachandran and Justice M.B. Snehalatha set aside the Single bench judgment, which had...

IBBI Makes Beneficial Ownership Disclosure Mandatory for Insolvency Resolution Applicants

The Insolvency and Bankruptcy Board of India (IBBI) has made it mandatory for companies bidding to take over insolvent firms to clearly disclose who ultimately owns or controls them, also known as their beneficial owners.The change was notified on December 22, 2025, and applies to bidders taking part in the corporate insolvency resolution process. The amended rules were published in the...

GST Demand Stayed As Audit Report Issued By Unauthorised Officer: Orissa High Court Finds Prima Facie Jurisdictional Defect

The Orissa High Court has stayed further proceedings arising from a Goods and Services Tax (GST) demand-cum-show cause notice issued under Section 73 of the Central Goods and Services Tax Act, 2017, after finding a prima facie jurisdictional defect in the audit process that formed the basis of the demand. The interim order was passed in a writ petition which challenged an audit notice...

Arbitration Annual Digest 2025- Part 2

Gauhati High Court Mere Existence Of Arbitration Clause In Agreement Does Not Oust Jurisdiction Of Civil Court To Entertain Suit: Gauhati High Court Case Title: M/S J.M.B. Construction And 2 Ors. Versus Dr. Somesh Dhar And 3 Ors. Case No:Arb.A./8/2024 The Gauhati High Court bench of Justice Malasri Nandi has held that merely because there is an arbitration clause providing...

ITAT Delhi Approved Amalgamation And Consistent Expense Allocation Cannot Be Used To Deny Section 80-IC Deduction

The Delhi Bench of Income Tax Appellate Tribunal has upheld substantial tax relief granted to Mahle Filters Systems (India) Ltd. for Assessment Year 2010–11, rejecting the Revenue's challenge to the company's deduction claimed under Section 80-IC of the Income Tax Act. A Bench comprising Vice President Mahavir Singh and Accountant Member Krinwant Sahay, while deciding...

ITAT Mumbai Restores Trust's 12AB Registration Matter To CIT(E) For Fresh Consideration

The Income Tax Appellate Tribunal, Mumbai Bench, has set aside an order passed by the Commissioner of Income Tax (Exemptions) [CIT(E)] rejecting the application of Shri Hans Maharaj Trust for registration under Section 12AB of the Income Tax Act, 1961, and has remanded the matter back for fresh adjudication. A Bench comprising Accountant Member Vikram Singh Yadav and Judicial...

Delhi High Court Bars Misuse Of Moneycontrol Name For Running Fraudulent Investment Schemes

The Delhi High Court has permanently restrained several individuals from misusing the “Moneycontrol” name, a widely used financial news and stock market information platform, to run fraudulent investment schemes on WhatsApp. The court also ordered that the WhatsApp accounts and mobile numbers linked to the scam must remain blocked. A single bench of Justice Manmeet Pritam Singh Arora...

ITAT Has Power To Grant Stay Even Without Tax Demand; Tribunal Cannot Refuse Jurisdiction: J&K High Court

The Jammu & Kashmir and Ladakh High Court has held that the Income Tax Appellate Tribunal (ITAT) has the power to grant stay of an order appealed against even when there is no existing tax demand, and that refusal to consider a stay application on the ground of lack of jurisdiction is legally unsustainable. A Division Bench of Justice Sindhu Sharma and Justice Shahzad Azeem...

Customs Act | Gujarat High Court Upholds CARR Ruling Allowing Duty Free Import On Inshell Walnuts Treating It As 'Dietary Fibre'

The Gujarat High Court upheld ruling of Customs Authority for Advance Rulings granting exemption from payment of Basic Customs Duty for inshell-walnuts imported by an entity treating the goods as "dietary fibre". The respondent- assessee is a transferee of Duty-Free Import Authorisations issued against the export of Assorted Confectionary Products (SION E-1) and Biscuits (SION E-5).The...