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Income Tax Act | S.54 Relief Cannot Be Denied Merely Due To Delay In Registration If Sale Proceeds Invested Within Time: ITAT Chennai
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) held that deduction under Section 54 of the Income Tax Act cannot be denied merely due to delay in registration if investment in new residential property is made within the prescribed time. Section 54 of the Indian Income Tax Act, 1961 offers individuals and Hindu Undivided Families (HUFs) an exemption from long-term...
Customs Brokers Cannot Be Punished For Bona Fide Classification Claims Made On Basis Of Importer Instructions: CESTAT Mumbai
The Mumbai Bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) has set aside a penalty imposed on a licensed Customs House Agent (CHA), holding that merely claiming an exemption or classification as per the importer's instructions does not amount to misdeclaration or misconduct. A Bench comprising Dr. Suvendu Kumar Pati (Judicial Member) and M.M....
Gujarat High Court Orders Release Of Imported Distillate Oil Seized For Not Meeting Criteria, Says Test Didn't Clearly Say If It Was Diesel
The Gujarat High Court recently directed release of imported distillate oil which was earlier seized on the ground that it did not meet the parameters of distillate oil, holding that the test report did not definitively conclude that the Distillate Oil was Diesel, to an extent that it would change the nature of classification from Distillate Oil to Diesel. Distillate oil is a form of liquid...
CCI's Clearance Of Avenir–Sammaan Deal: Implications For Competition, Capital, And India's NBFC Future
A Transaction That Extends Beyond Procedural ApprovalThe Competition Commission of India (CCI) has approved the acquisition (C-2025/10/1340) of a significant shareholding in Sammaan Capital Limited (SCL) by Avenir Investment RSC Ltd., a special-purpose vehicle of the Abu Dhabi–based International Holding Company PJSC (IHC). Although the PIB press release makes the approval appear routine, the underlying transaction speaks to broader shifts occurring within India's financial...
Delhi High Court To Examine Whether Delhi Jal Board Qualifies As 'Local Authority' & Works Contract Services Would Attract 12% GST
In yet another writ petition, concerning works contract services provided to Delhi Jal Board, where its status as a 'Local Authority' was called-into-question, the Delhi High Court has stayed the summary Show Cause Notice under Section 73 of the CGST Act, 2017. A Division Bench comprising, Justice Prathiba M. Singh and Justice Shail Jain noted that few similar disputes relating...
GST Act | Orissa High Court Quashes Recovery Proceedings Premised On 'Mistaken Identity' After Verifying Payment Receipt From Bank
The Orissa High Court in a matter involving 'mistaken identity' where one individual was assessed despite having a cancelled registration number (GSTIN), has quashed Show Cause Notice under Section 73 of the CGST Act, 2017. A Division Bench comprising Chief Justice Harish Tandon and Justice Murahari Sri Raman noted the 'mistaken fact' in Section 73 adjudication proceedings....
Farmer's Land Need Not Be In His Own Name To Claim Relief Under CM's Krishak Durghatna Scheme: Allahabad High Court
The Allahabad High Court has held that for grant of benefits under the Mukhyamantri Krishak Durghatna Kalyan Yojana, the primary source of income/ livelihood of the deceased farmer needs to be seen rather than seeing the revenue records to ascertain whether the agricultural land was in the name of the deceased or not.The “Mukhyamantri Krishak Durghatna Kalyan Yojana” has been brought in...
Supreme Court Refuses To Entertain Ex-Punjab DIG Bhullar's Plea Against CBI Investigation; Allows To Pursue Matter In HC
The Supreme Court on Friday (December 19) refused to entertain the petition filed by suspended Punjab Police DIG Harcharan Singh Bhullar seeking stay of the CBI investigation in two FIRs alleging disproportionate assets against him.A bench comprising Chief Justice of India Surya Kant, Justice Joymalya Bagchi and Justice Vipul Pancholi noted that the Punjab and Haryana High Court was...
Right To Disconnect: Reclaiming Boundaries In Digital Age
Recent studies show how deeply technology has changed the rhythm of work. Microsoft's Work Trend Index reports a noticeable rise in meetings held late in the evening, more weekend logins, and a steady increase in messages being exchanged outside regular office hours. A 2025 Australian study found that nearly sixty percent of workers experienced mental health concerns linked to work-related stress, much of it caused by the feeling of being constantly available. These trends are now becoming...
Masala Bonds Case: Kerala High Court Reserves Verdict On ED's Appeal Against Stay Of Show Cause Notice To KIIFB
The Kerala High Court on Friday (19 December) reserved judgment in an appeal preferred by the Enforcement Directorate against a Single judge's interim order staying the show cause notice issued against Kerala Infrastructure Investment Fund Board (KIIFB) under the Foreign Exchange Management Act, 1999 (FEMA), relating to the utilisation of funds raised through masala bond.The Division...