TaxGuru.in - Daily Newsletter

Goods and Services Tax | Karnataka HC Restores GST Appeal After Condoning Delay on Medical Grounds

CA Sandeep Kanoi — Thu, 01 Oct 2026 21:14:17 +0000

Karnataka HC condoned delay in a GST appeal on medical grounds, restored the appeal and directed a hearing while keeping merits open.

The post Karnataka HC Restores GST Appeal After Condoning Delay on Medical Grounds appeared first on TaxGuru.

Goods and Services Tax | GST Demand Cannot Exceed Show Cause Notice: Calcutta High Court

CA Sandeep Kanoi — Thu, 01 Oct 2026 21:13:21 +0000

Calcutta High Court remands GST demand exceeding the show cause notice, subject to a 10% tax deposit and fresh hearing.

The post GST Demand Cannot Exceed Show Cause Notice: Calcutta High Court appeared first on TaxGuru.

Goods and Services Tax | GST Registration Restoration Makes Departmental Appeals Infructuous: GSTAT Hyderabad

CA Sandeep Kanoi — Thu, 01 Oct 2026 21:12:37 +0000

GSTAT Hyderabad upheld the GST appeal delay limit but held Revenue appeals not maintainable after the Department restored taxpayers’ registrations.

The post GST Registration Restoration Makes Departmental Appeals Infructuous: GSTAT Hyderabad appeared first on TaxGuru.

Goods and Services Tax | Outsourced Caterer’s Hospital Food Supply Not GST Exempt Healthcare: GSTAT Hyderabad

CA Sandeep Kanoi — Thu, 01 Oct 2026 21:11:23 +0000

GSTAT Hyderabad held outsourced hospital food supply taxable, directed Section 73 redetermination and allowed Rule 35 cum-tax benefit.

The post Outsourced Caterer’s Hospital Food Supply Not GST Exempt Healthcare: GSTAT Hyderabad appeared first on TaxGuru.

Corporate Law | NOIDA & GNIDA Lease Dues Remain Unsecured Without General First Charge: NCLAT

CA Sandeep Kanoi — Thu, 01 Oct 2026 21:10:23 +0000

NCLAT rejects NOIDA and GNIDA appeals as lease deeds lacked a general contractual charge securing their dues under the amended IBC.

The post NOIDA & GNIDA Lease Dues Remain Unsecured Without General First Charge: NCLAT appeared first on TaxGuru.

Goods and Services Tax | GSTAT Ernakulam Sets Aside GST PenaltyOrder for Breach of Seven-Day Timeline

editor8 — Thu, 01 Oct 2026 21:05:51 +0000

GSTAT Ernakulam sets aside the appellate order after holding a Section 129(3) penalty order passed 28 days after notice void ab initio.

The post GSTAT Ernakulam Sets Aside GST PenaltyOrder for Breach of Seven-Day Timeline appeared first on TaxGuru.

Goods and Services Tax | Telangana HC Grants Anticipatory Bail in Rs.98.47 Crore Alleged Fake ITC Case

CA Sandeep Kanoi — Thu, 01 Oct 2026 21:03:04 +0000

Telangana HC grants anticipatory bail in alleged Rs.98.47 crore fake ITC case; custodial interrogation must be specifically justified.

The post Telangana HC Grants Anticipatory Bail in Rs.98.47 Crore Alleged Fake ITC Case appeared first on TaxGuru.

Goods and Services Tax | Gujarat HC Grants Bail in E-Way Bill Forgery Case Subject to ₹29.30 Lakh Deposit

CA Sandeep Kanoi — Thu, 01 Oct 2026 21:02:10 +0000

Gujarat HC grants regular bail in alleged forged E-way bill case, subject to ₹29.30 lakh deposit and other conditions.

The post Gujarat HC Grants Bail in E-Way Bill Forgery Case Subject to ₹29.30 Lakh Deposit appeared first on TaxGuru.

Excise Duty | CESTAT Hyderabad Upholds ₹8.37 Crore Clean Energy Cess Credit Denial; Deletes Penalty

CA Sandeep Kanoi — Thu, 01 Oct 2026 21:01:39 +0000

CESTAT Hyderabad upheld denial of CENVAT credit on Clean Energy Cess but set aside ₹5,000 penalty, partly allowing Penna Cement’s appeal.

The post CESTAT Hyderabad Upholds ₹8.37 Crore Clean Energy Cess Credit Denial; Deletes Penalty appeared first on TaxGuru.

Custom Duty | Acceptance of Enhanced Customs Value Does Not Bar Importer From Challenging Reassessment: CESTAT Delhi

CA Sandeep Kanoi — Thu, 01 Oct 2026 20:20:42 +0000

CESTAT Delhi upheld declared transaction value for 57 Bills of Entry and rejected Revenue’s appeal against relief granted to importer.

The post Acceptance of Enhanced Customs Value Does Not Bar Importer From Challenging Reassessment: CESTAT Delhi appeared first on TaxGuru.

Custom Duty | Coerced Consent Cannot Justify Enhancement of Customs Transaction Value: CESTAT Chandigarh

CA Sandeep Kanoi — Thu, 01 Oct 2026 20:18:33 +0000

CESTAT Chandigarh quashed customs valuation enhancement based on coerced consent, DGoV/LME data and unsupported related-party grounds.

The post Coerced Consent Cannot Justify Enhancement of Customs Transaction Value: CESTAT Chandigarh appeared first on TaxGuru.

Custom Duty | Consent to Enhanced Customs Value Cannot Waive Statutory Valuation Safeguards: CESTAT Allahabad

CA Sandeep Kanoi — Thu, 01 Oct 2026 20:18:10 +0000

CESTAT Allahabad held consent to enhanced customs value does not bar appeal where Rule 12 valuation safeguards were not followed.

The post Consent to Enhanced Customs Value Cannot Waive Statutory Valuation Safeguards: CESTAT Allahabad appeared first on TaxGuru.

Income Tax | Corporate Guarantee for AE Falls Under Section 92B; 0.20% Commission Is ALP: ITAT Mumbai

CA Sandeep Kanoi — Thu, 01 Oct 2026 20:16:52 +0000

ITAT Mumbai held corporate guarantee to AE is an international transaction but restricted arm’s length guarantee commission to 0.20%.

The post Corporate Guarantee for AE Falls Under Section 92B; 0.20% Commission Is ALP: ITAT Mumbai appeared first on TaxGuru.

Income Tax | Rule 128 Effective From 01.04.2017 Cannot Deny Kenya Foreign Tax Credit for Earlier Return: ITAT Mumbai

CA Sandeep Kanoi — Thu, 01 Oct 2026 20:14:52 +0000

ITAT Mumbai held Rule 128 could not deny Kenya tax credit for a return filed in 2015 and also decided corporate guarantee and MAT issues.

The post Rule 128 Effective From 01.04.2017 Cannot Deny Kenya Foreign Tax Credit for Earlier Return: ITAT Mumbai appeared first on TaxGuru.

Income Tax | Section 28 Land Acquisition Interest Is Compensation and No TDS Deduction Permissible: Karnataka HC

CA Sandeep Kanoi — Thu, 01 Oct 2026 20:12:34 +0000

Karnataka HC holds Section 28 interest forms part of land acquisition compensation and capital receipt; TDS deduction was impermissible.

The post Section 28 Land Acquisition Interest Is Compensation and No TDS Deduction Permissible: Karnataka HC appeared first on TaxGuru.

Income Tax | No TDS on Compulsory Land Acquisition Compensation: Karnataka HC

CA Sandeep Kanoi — Thu, 01 Oct 2026 20:09:27 +0000

Karnataka HC directs KNNL to pay mediated land acquisition compensation without TDS and prescribes a time-bound disbursement mechanism.

The post No TDS on Compulsory Land Acquisition Compensation: Karnataka HC appeared first on TaxGuru.

Corporate Law | Speaker Cannot Disqualify MLA Till End of Assembly Term Under Tenth Schedule: SC

CA Sandeep Kanoi — Thu, 01 Oct 2026 20:08:57 +0000

Supreme Court upheld Karnataka MLAs’ disqualification but set aside the Speaker’s direction barring them for the remainder of the Assembly term.

The post Speaker Cannot Disqualify MLA Till End of Assembly Term Under Tenth Schedule: SC appeared first on TaxGuru.

Income Tax | Karnataka HC Directs Release of Land Acquisition Compensation Withheld Towards TDS

CA Sandeep Kanoi — Thu, 01 Oct 2026 20:08:03 +0000

Karnataka HC directs release of compensation withheld towards income tax/TDS, holding such deduction impermissible in the case.

The post Karnataka HC Directs Release of Land Acquisition Compensation Withheld Towards TDS appeared first on TaxGuru.

Corporate Law | Bombay HC Refuses to Quash MPID FIR Against Director Over Rs. 1.31 Crore Depositor Funds

CA Sandeep Kanoi — Thu, 01 Oct 2026 20:04:08 +0000

Bombay HC refuses to quash MPID proceedings against society director, finding prima facie material regarding misappropriation of depositor funds.

The post Bombay HC Refuses to Quash MPID FIR Against Director Over Rs. 1.31 Crore Depositor Funds appeared first on TaxGuru.

Corporate Law | PMLA Proceedings Cannot Be Quashed on Issues Already Considered Earlier: Karnataka HC

CA Sandeep Kanoi — Thu, 01 Oct 2026 20:03:32 +0000

Karnataka High Court dismisses JSW Steel’s pleas to quash PMLA proceedings and upholds Special Judge’s cognizance and summons order.

The post PMLA Proceedings Cannot Be Quashed on Issues Already Considered Earlier: Karnataka HC appeared first on TaxGuru.

Income Tax | SC Dismisses Revenue SLP in Section 143(2) Limitation Case; Question of Law Left Open

CA Sandeep Kanoi — Thu, 01 Oct 2026 19:59:37 +0000

Supreme Court dismisses Revenue’s SLP in Travel Designer India case on Section 143(2) limitation but expressly leaves the question of law open.

The post SC Dismisses Revenue SLP in Section 143(2) Limitation Case; Question of Law Left Open appeared first on TaxGuru.

Income Tax | Section 271AAB Penalty Quashed as Notice Failed to Specify Applicable Limb: ITAT Pune

CA Sandeep Kanoi — Thu, 01 Oct 2026 19:37:07 +0000

ITAT Pune quashed Section 271AAB penalty as notice failed to specify clause (a) or (b); assessee appeal allowed and Revenue appeal dismissed.

The post Section 271AAB Penalty Quashed as Notice Failed to Specify Applicable Limb: ITAT Pune appeared first on TaxGuru.

Income Tax | Section 271AAB Penalty of Rs.43.78 Lakh Deleted for Defective Notice: ITAT Delhi

CA Sandeep Kanoi — Thu, 01 Oct 2026 19:33:02 +0000

ITAT Delhi deletes Rs.43.78 lakh Section 271AAB(1A) penalty as the notice failed to specify the applicable charge or clause.

The post Section 271AAB Penalty of Rs.43.78 Lakh Deleted for Defective Notice: ITAT Delhi appeared first on TaxGuru.

Income Tax | Section 271AAB Penalty Invalid When Notices Fail to Specify Applicable Limb: ITAT Delhi

CA Sandeep Kanoi — Thu, 01 Oct 2026 19:32:17 +0000

ITAT Delhi quashes ₹6.25 crore Section 271AAB penalty as three notices failed to specify the applicable statutory limb.

The post Section 271AAB Penalty Invalid When Notices Fail to Specify Applicable Limb: ITAT Delhi appeared first on TaxGuru.

Income Tax | Pen Drive Entries Without Corroboration Cannot Sustain Addition: ITAT Chennai

CA Sandeep Kanoi — Thu, 01 Oct 2026 19:31:09 +0000

ITAT Chennai quashes Section 153C proceedings based on common satisfaction and deletes additions founded on uncorroborated third-party pen-drive entries.

The post Pen Drive Entries Without Corroboration Cannot Sustain Addition: ITAT Chennai appeared first on TaxGuru.

Income Tax | Cash Addition Based on Third-Party Loose Sheets Without Corroboration Deleted: ITAT Chennai

CA Sandeep Kanoi — Thu, 01 Oct 2026 19:30:31 +0000

ITAT Chennai deletes cash-rebate additions based on third-party diaries and upholds section 11 exemption for educational and incidental receipts.

The post Cash Addition Based on Third-Party Loose Sheets Without Corroboration Deleted: ITAT Chennai appeared first on TaxGuru.

Corporate Law | Fresh Predicate FIR Can Sustain Existing ECIR but Quashed FIRs Cannot Support PMLA Probe: Delhi HC

CA Sandeep Kanoi — Thu, 01 Oct 2026 19:28:06 +0000

Delhi HC holds fresh scheduled offence can sustain existing ECIR, but PMLA proceedings tied to compounded or quashed FIRs cannot continue.

The post Fresh Predicate FIR Can Sustain Existing ECIR but Quashed FIRs Cannot Support PMLA Probe: Delhi HC appeared first on TaxGuru.

Income Tax | Section 147 Reopening on Mere Suspicion of Fund Rotation Quashed: ITAT Delhi

CA Sandeep Kanoi — Thu, 01 Oct 2026 19:26:16 +0000

Delhi ITAT quashes Section 147 reassessment as fund rotation and STR information showed suspicion, not a live link to escaped income.

The post Section 147 Reopening on Mere Suspicion of Fund Rotation Quashed: ITAT Delhi appeared first on TaxGuru.

Corporate Law | ECIR Cannot Be Quashed Under Section 482 CrPC as Registration Is Administrative Act: Madras HC

CA Sandeep Kanoi — Thu, 01 Oct 2026 19:25:25 +0000

Madras HC held ECIR registration is an administrative ED act, not an FIR under CrPC, and cannot be quashed by invoking Section 482 CrPC.

The post ECIR Cannot Be Quashed Under Section 482 CrPC as Registration Is Administrative Act: Madras HC appeared first on TaxGuru.

Corporate Law | Cooperative Bank CEO Appointment Must Harmonise Sections 49-E and 54: SC

CA Sandeep Kanoi — Thu, 01 Oct 2026 19:24:07 +0000

Supreme Court explains CEO appointment powers of cooperative banks, Apex Societies and Registrar under Sections 49-E and 54 of Chhattisgarh law

The post Cooperative Bank CEO Appointment Must Harmonise Sections 49-E and 54: SC appeared first on TaxGuru.

Company Law | Secretarial Standards on Minutes under Companies Act, 2013: SS-1 & SS-2

CS Jyoti Mittal — Thu, 01 Oct 2026 19:08:02 +0000

Understand SS-1 and SS-2 requirements for company minutes, including drafting, quorum, notice, voting, signing, preservation and timelines.

The post Secretarial Standards on Minutes under Companies Act, 2013: SS-1 & SS-2 appeared first on TaxGuru.

Company Law | Resolution by Circulation under Section 175: Procedure, Recording and Minutes

CS Jyoti Mittal — Thu, 01 Oct 2026 19:05:13 +0000

Learn the procedure for resolution by circulation under Section 175, including approval, dissent, recording and entry in Board meeting minutes.

The post Resolution by Circulation under Section 175: Procedure, Recording and Minutes appeared first on TaxGuru.

Corporate Law | Section 7 IBC Application Within Limitation If Filed Within 3 Years of Last Payment: NCLAT Delhi

CA Sandeep Kanoi — Thu, 01 Oct 2026 18:48:11 +0000

NCLAT held Section 7 application was within limitation as the last payment on 31.07.2018 gave Financial Creditor a fresh three-year limitation period.

The post Section 7 IBC Application Within Limitation If Filed Within 3 Years of Last Payment: NCLAT Delhi appeared first on TaxGuru.

Income Tax | Audit Report Filed Before Assessment Sufficient for Deduction; Filing With Return Directory: Delhi HC

CA Sandeep Kanoi — Thu, 01 Oct 2026 18:47:18 +0000

Delhi HC held filing the audit report with return is directory; filing it before assessment satisfies the statutory requirement for deduction.

The post Audit Report Filed Before Assessment Sufficient for Deduction; Filing With Return Directory: Delhi HC appeared first on TaxGuru.

Income Tax | Section 80-IA Deduction Cannot Be Denied If Audit Report Filed During Assessment: Gujarat HC

CA Sandeep Kanoi — Thu, 01 Oct 2026 18:46:20 +0000

Gujarat HC quashed reassessment holding Section 80-IA audit report filed during assessment sufficient and interest on delayed sale payment eligible.

The post Section 80-IA Deduction Cannot Be Denied If Audit Report Filed During Assessment: Gujarat HC appeared first on TaxGuru.

Income Tax | Delay in Filing Form 10-IC Not Fatal to Section 115BAA Concessional Tax Claim: ITAT Ahmedabad

CA Sandeep Kanoi — Thu, 01 Oct 2026 18:44:15 +0000

ITAT Ahmedabad directs AO to consider delayed Form 10-IC and verify Section 115BAA concessional tax claim for AY 2020-21.

The post Delay in Filing Form 10-IC Not Fatal to Section 115BAA Concessional Tax Claim: ITAT Ahmedabad appeared first on TaxGuru.

Income Tax | Non-Filing of Form 10-IC Not Fatal to Section 115BAA Concessional Tax Claim: ITAT Kolkata

CA Sandeep Kanoi — Thu, 01 Oct 2026 18:43:19 +0000

ITAT Kolkata restores Section 115BAA claim to AO, holding delayed Form 10-IC can be considered where assessee otherwise fulfils statutory conditions.

The post Non-Filing of Form 10-IC Not Fatal to Section 115BAA Concessional Tax Claim: ITAT Kolkata appeared first on TaxGuru.

Goods and Services Tax | September 2026 Gross GST Revenue Rises 14.7% to Rs. 2.04 Lakh Crore

Editor — Thu, 01 Oct 2026 18:35:50 +0000

September 2026 gross GST revenue rose 14.7% to Rs. 2,03,521 crore, while net GST revenue increased 18.1% to Rs. 1,76,520 crore.

The post September 2026 Gross GST Revenue Rises 14.7% to Rs. 2.04 Lakh Crore appeared first on TaxGuru.

Custom Duty | Import Permit Mandatory for Insecticides Imported for Non-Insecticidal Use: CBIC

editor7 — Thu, 01 Oct 2026 18:34:58 +0000

CBIC mandates import permits for insecticides imported for non-insecticidal uses, including acrylonitrile, under amended Insecticides Rules, 1971.

The post Import Permit Mandatory for Insecticides Imported for Non-Insecticidal Use: CBIC appeared first on TaxGuru.

SEBI | SEBI Mandates Investor Awareness Messages on Broker Websites and Apps From November 1

Editor — Thu, 01 Oct 2026 18:29:55 +0000

SEBI mandates stock brokers to display investor awareness messages and risk disclosures on websites and trading apps under Project Jagrook from October 2026.

The post SEBI Mandates Investor Awareness Messages on Broker Websites and Apps From November 1 appeared first on TaxGuru.

CA, CS, CMA | ICAI Invites MCQs for Advanced Information Technology (IT) Test Question Bank

Editor — Thu, 01 Oct 2026 18:28:41 +0000

ICAI invites original MCQs from Chartered Accountants and experts for its Advanced IT test Question Bank, with Rs.500 honorarium for each selected question.

The post ICAI Invites MCQs for Advanced Information Technology (IT) Test Question Bank appeared first on TaxGuru.

Excise Duty | ATF Export SAED Cut from ₹15 to ₹10.5/Litre from 1 October 2026

Editor — Thu, 01 Oct 2026 18:26:01 +0000

CBIC cuts SAED on ATF exports from ₹15 to ₹10.5 per litre through Notification No. 53/2026-Central Excise, effective 1 October 2026.

The post ATF Export SAED Cut from ₹15 to ₹10.5/Litre from 1 October 2026 appeared first on TaxGuru.

Excise Duty | Diesel Export SAED Cut from ₹20 to ₹16/Litre from 1 October 2026

Editor — Thu, 01 Oct 2026 18:21:54 +0000

CBIC cuts SAED on diesel exports from ₹20 to ₹16 per litre through Notification No. 52/2026-Central Excise, effective 1 October 2026.

The post Diesel Export SAED Cut from ₹20 to ₹16/Litre from 1 October 2026 appeared first on TaxGuru.

Custom Duty | Notification No. 80/2026-Customs (N.T.) – Revised Customs Tariff Values from 1 October 2026

Editor — Thu, 01 Oct 2026 18:14:43 +0000

CBIC revises tariff values for palm oils, soybean oil, brass scrap, gold, silver and areca nuts under Notification No. 80/2026-Customs (N.T.).

The post Notification No. 80/2026-Customs (N.T.) – Revised Customs Tariff Values from 1 October 2026 appeared first on TaxGuru.

SEBI | SEBI Renews Recognition of BSE Clearing for Three Years from October 3, 2026

Editor — Thu, 01 Oct 2026 18:13:53 +0000

SEBI renews recognition of BSE Clearing Limited under the Securities Contracts (Regulation) Act and Regulations for three years till October 2, 2029.

The post SEBI Renews Recognition of BSE Clearing for Three Years from October 3, 2026 appeared first on TaxGuru.

Fema / RBI | RBI Allows Delegation of ATM Cassette Swap Monitoring to Executive Committee

Editor — Thu, 01 Oct 2026 18:13:35 +0000

RBI modifies ATM cassette swap guidelines, allowing banks to delegate implementation monitoring to a Committee of Executives.

The post RBI Allows Delegation of ATM Cassette Swap Monitoring to Executive Committee appeared first on TaxGuru.

Fema / RBI | RBI Master Circular 2026 on Credit Facilities to SCs & STs

Editor — Thu, 01 Oct 2026 18:13:13 +0000

RBI consolidates guidelines for bank credit to SC/ST beneficiaries covering planning, lending, DRI, CEGSSC, monitoring and reporting.

The post RBI Master Circular 2026 on Credit Facilities to SCs & STs appeared first on TaxGuru.

DGFT | DGFT Extends Minimum Import Price on Virgin Multi-layer Paper Board till 31 March 2027

Editor — Thu, 01 Oct 2026 18:11:35 +0000

DGFT extends MIP of INR 67,220 per MT on Virgin Multi-layer Paper Board under specified ITC HS codes till 31 March 2027.

The post DGFT Extends Minimum Import Price on Virgin Multi-layer Paper Board till 31 March 2027 appeared first on TaxGuru.

Finance | IFSCA Extends CMI KMP & Employee Certification Deadline to 31 December 2026

editor7 — Thu, 01 Oct 2026 18:10:55 +0000

IFSCA extends the deadline for KMPs and employees of Capital Market Intermediaries to complete the prescribed certification course to 31 December 2026.

The post IFSCA Extends CMI KMP & Employee Certification Deadline to 31 December 2026 appeared first on TaxGuru.

Corporate Law | IRDAI Extends Public Insurance Registry Consultation Feedback Deadline to 17 October 2026

editor7 — Thu, 01 Oct 2026 18:09:42 +0000

IRDAI extends the deadline for feedback on its Public Insurance Registry consultation paper from 30 September to 17 October 2026.

The post IRDAI Extends Public Insurance Registry Consultation Feedback Deadline to 17 October 2026 appeared first on TaxGuru.

Excise Duty | Extended Limitation Invalid When Trading Activity Disclosed in Balance Sheet: Karnataka HC

CA Sandeep Kanoi — Thu, 01 Oct 2026 18:05:53 +0000

Karnataka HC upheld deletion of extended-period CENVAT demand as ABB disclosed trading activity and issue involved bona fide legal confusion.

The post Extended Limitation Invalid When Trading Activity Disclosed in Balance Sheet: Karnataka HC appeared first on TaxGuru.

Corporate Law | Homebuyers Electing RERA Remedy Cannot Later Switch to Consumer Forum: SC

CA Sandeep Kanoi — Thu, 01 Oct 2026 18:05:12 +0000

Supreme Court held homebuyers who elected RERA remedy and withdrew with liberty to refile could not later approach NCDRC.

The post Homebuyers Electing RERA Remedy Cannot Later Switch to Consumer Forum: SC appeared first on TaxGuru.

Corporate Law | Going Concern Buyer Cannot Claim Clean Slate Beyond Auction Terms: NCLAT Delhi

CA Sandeep Kanoi — Thu, 01 Oct 2026 18:04:42 +0000

NCLAT held going-concern purchaser cannot extinguish liabilities till auction date when e-auction terms limit claims to liquidation commencement.

The post Going Concern Buyer Cannot Claim Clean Slate Beyond Auction Terms: NCLAT Delhi appeared first on TaxGuru.

Corporate Law | Clean-Slate Principle Protects Going Concern Buyer From Past Dues: NCLAT Delhi

CA Sandeep Kanoi — Thu, 01 Oct 2026 18:04:09 +0000

NCLAT held clean-slate principle applies to liquidation sale and set aside NCLT order denying reliefs to successful bidder.

The post Clean-Slate Principle Protects Going Concern Buyer From Past Dues: NCLAT Delhi appeared first on TaxGuru.

Corporate Law | Going Concern Buyer Cannot Be Burdened With Past Liabilities: NCLAT Delhi

CA Sandeep Kanoi — Thu, 01 Oct 2026 18:02:35 +0000

NCLAT held that past and contingent liabilities cannot be foisted on a buyer after corporate debtor is sold as a going concern.

The post Going Concern Buyer Cannot Be Burdened With Past Liabilities: NCLAT Delhi appeared first on TaxGuru.

Goods and Services Tax | Review Cannot Become VAT Appeal in Disguise or Rehearing on Merits: SC

CA Sandeep Kanoi — Thu, 01 Oct 2026 18:01:57 +0000

Supreme Court dismissed Rainbow Papers review petitions, holding subsequent coordinate-bench rulings cannot by themselves justify review.

The post Review Cannot Become VAT Appeal in Disguise or Rehearing on Merits: SC appeared first on TaxGuru.

Income Tax | Covid Lockdown Delay in PF-ESI Deposit Does Not Warrant Disallowance: ITAT Chandigarh

CA Sandeep Kanoi — Thu, 01 Oct 2026 18:01:11 +0000

ITAT Chandigarh deleted Rs.18.73 lakh PF-ESI disallowance where short delay occurred during peak Covid lockdown and payments followed reopening.

The post Covid Lockdown Delay in PF-ESI Deposit Does Not Warrant Disallowance: ITAT Chandigarh appeared first on TaxGuru.

Service Tax | Retrospective Renting Service Tax Amendment Cannot Justify Extended Limitation: CESTAT Chennai

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:59:33 +0000

CESTAT Chennai held renting service tax demand for 2008-09 time-barred as the levy was debatable until retrospective amendment.

The post Retrospective Renting Service Tax Amendment Cannot Justify Extended Limitation: CESTAT Chennai appeared first on TaxGuru.

Corporate Law | Arbitrator Must Decide Disputed Existence of Arbitration Agreement: SC

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:58:34 +0000

Supreme Court upheld arbitrator appointment but directed the arbitrator to first decide whether a disputed arbitration agreement existed.

The post Arbitrator Must Decide Disputed Existence of Arbitration Agreement: SC appeared first on TaxGuru.

Corporate Law | Section 7 Arbitration Agreement Can Arise From Conduct & Court-Recorded Consent: SC

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:58:13 +0000

Supreme Court held arbitration agreement can arise from conduct and consent, and applied Group of Companies doctrine to join CANFINA.

The post Section 7 Arbitration Agreement Can Arise From Conduct & Court-Recorded Consent: SC appeared first on TaxGuru.

Income Tax | Wrong Section 151 Approval Invalidates Reassessment Beyond Three Years: ITAT Mumbai

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:57:27 +0000

ITAT Mumbai quashed reassessment for approval by PCIT instead of competent authority and also deleted Rs.1.93 crore addition on merits.

The post Wrong Section 151 Approval Invalidates Reassessment Beyond Three Years: ITAT Mumbai appeared first on TaxGuru.

Income Tax | Reassessment Invalid Without Mandatory Section 143(2) Notice: Allahabad HC

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:56:06 +0000

Allahabad High Court held non-issuance of Section 143(2) notice is a jurisdictional defect that Section 292BB cannot cure.

The post Reassessment Invalid Without Mandatory Section 143(2) Notice: Allahabad HC appeared first on TaxGuru.

Income Tax | Madras High Court: Section 45-IC Statutory Reserve Not Deductible by NBFC

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:55:36 +0000

Madras High Court held Section 45-IC statutory reserve is appropriation of profits and not deductible under normal provisions or Section 115JB.

The post Madras High Court: Section 45-IC Statutory Reserve Not Deductible by NBFC appeared first on TaxGuru.

Income Tax | ITAT Chennai: Rs.1 Crore Section 10(23C) Limit Applies Separately to Each School

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:55:10 +0000

ITAT Chennai allowed Section 10(23C)(iiiad) exemption as nursery and primary schools each had annual receipts below Rs.1 crore.

The post ITAT Chennai: Rs.1 Crore Section 10(23C) Limit Applies Separately to Each School appeared first on TaxGuru.

Income Tax | ITAT Ahmedabad Quashes Section 263 Revision as ESOP Deduction Was Duly Examined

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:54:37 +0000

ITAT Ahmedabad quashed Section 263 revision as AO duly examined ESOP deduction and PCIT could not order mere verification of loss.

The post ITAT Ahmedabad Quashes Section 263 Revision as ESOP Deduction Was Duly Examined appeared first on TaxGuru.

Income Tax | ITAT Mumbai Deletes Section 56 Addition as Property Agreement Predated Amendment

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:52:21 +0000

ITAT Mumbai held amended Section 56(2)(vii)(b)(ii) inapplicable where property agreement was executed before 1 April 2013.

The post ITAT Mumbai Deletes Section 56 Addition as Property Agreement Predated Amendment appeared first on TaxGuru.

Income Tax | ITAT Mumbai Upholds Section 263 Revision on Depreciation for Toll Collection Rights

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:52:04 +0000

ITAT Mumbai upheld Section 263 revision, denying depreciation on BOT toll rights while allowing amortisation over the concession period.

The post ITAT Mumbai Upholds Section 263 Revision on Depreciation for Toll Collection Rights appeared first on TaxGuru.

Income Tax | ITAT Mumbai: Section 12AB & 80G Renewal Rejections Remanded for Fresh Adjudication

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:51:51 +0000

ITAT Mumbai remanded Section 12AB and consequential 80G renewal applications to CIT(E) for fresh adjudication after effective hearing.

The post ITAT Mumbai: Section 12AB & 80G Renewal Rejections Remanded for Fresh Adjudication appeared first on TaxGuru.

Income Tax | ITAT Mumbai: Formal Trust Deed Not Mandatory for Section 12AB Renewal

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:51:23 +0000

ITAT Mumbai held absence of a formal trust deed cannot alone justify rejection of Section 12AB renewal where other evidence establishes the trust.

The post ITAT Mumbai: Formal Trust Deed Not Mandatory for Section 12AB Renewal appeared first on TaxGuru.

Income Tax | Bombay HC Quashes Reassessment for Total Non-Application of Mind by Tax Authorities

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:50:59 +0000

Bombay HC quashed AY 2015-16 reassessment as AO, Range Head and PCIT failed to apply their minds before reopening assessment.

The post Bombay HC Quashes Reassessment for Total Non-Application of Mind by Tax Authorities appeared first on TaxGuru.

Income Tax | ITAT Chennai: Debenture Interest Taxable on Conversion Into Equity Shares

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:41:09 +0000

ITAT Chennai upheld Section 263 revision as ₹61.97 lakh accumulated debenture interest became taxable on conversion into equity shares.

The post ITAT Chennai: Debenture Interest Taxable on Conversion Into Equity Shares appeared first on TaxGuru.

Income Tax | Seized Diamonds Must Be Released After Section 132B Time Limit: Gujarat HC

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:39:02 +0000

Gujarat HC directed release of seized diamonds, holding Section 132B time limit mandatory and not merely directory.

The post Seized Diamonds Must Be Released After Section 132B Time Limit: Gujarat HC appeared first on TaxGuru.

Income Tax | Consistently Accepted Fundamental Tax Position Cannot Change Without Material Change: SC

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:38:11 +0000

Supreme Court upheld Sections 11 and 12 exemption and held an accepted fundamental position should not change without material change.

The post Consistently Accepted Fundamental Tax Position Cannot Change Without Material Change: SC appeared first on TaxGuru.

Income Tax | ITAT Pune: Wrong Section 80G Clause in Form 10AB Is Curable

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:37:32 +0000

ITAT Pune remands Skilletz Foundation’s Section 80G application after treating selection of the wrong clause in Form 10AB as curable.

The post ITAT Pune: Wrong Section 80G Clause in Form 10AB Is Curable appeared first on TaxGuru.

Income Tax | Wrong Clause in Form 10AB Cannot End Section 80G Claim: ITAT Pune

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:36:26 +0000

ITAT Pune remands Section 80G application rejected for delay and wrong clause, allowing rectification and fresh merits examination.

The post Wrong Clause in Form 10AB Cannot End Section 80G Claim: ITAT Pune appeared first on TaxGuru.

Income Tax | Bitumen Is Not ‘Other Valuable Article’ Under Section 69A: Supreme Court

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:35:35 +0000

Supreme Court held bitumen is not a valuable article under Section 69A and a carrier without ownership cannot face unexplained asset addition.

The post Bitumen Is Not ‘Other Valuable Article’ Under Section 69A: Supreme Court appeared first on TaxGuru.

Goods and Services Tax | GST Registration Restored on Filing Pending Returns Within Six Weeks: Calcutta HC

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:34:04 +0000

Calcutta HC set aside GST registration cancellation and allowed restoration on filing pending returns with tax, interest, penalty and late fees.

The post GST Registration Restored on Filing Pending Returns Within Six Weeks: Calcutta HC appeared first on TaxGuru.

Corporate Law | Civil Court Orders Cannot Block SARFAESI Section 14 Possession: Punjab & Haryana HC

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:33:26 +0000

Punjab & Haryana HC holds civil court orders cannot obstruct secured creditor and directs SARFAESI Section 14 possession within four weeks.

The post Civil Court Orders Cannot Block SARFAESI Section 14 Possession: Punjab & Haryana HC appeared first on TaxGuru.

Income Tax | ITAT Mumbai Quashes Section 263 Revision on ESOP Cost & Facebook Advertisement Payments

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:32:27 +0000

ITAT Mumbai quashed Section 263 revision on ESOP deduction and Facebook Ireland advertisement payments after finding adequate AO enquiry.

The post ITAT Mumbai Quashes Section 263 Revision on ESOP Cost & Facebook Advertisement Payments appeared first on TaxGuru.

Income Tax | ITAT Mumbai Deletes Facebook Advertisement and ESOP Disallowances for AY 2016-17

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:31:35 +0000

ITAT Mumbai upheld deletion of Facebook and other foreign advertisement expenses and ESOP disallowance for AY 2016-17.

The post ITAT Mumbai Deletes Facebook Advertisement and ESOP Disallowances for AY 2016-17 appeared first on TaxGuru.

Corporate Law | SARFAESI Redemption Right Continues Till Sale Certificate: Punjab & Haryana HC

CA Sandeep Kanoi — Thu, 01 Oct 2026 17:29:35 +0000

Punjab & Haryana HC held mortgagor’s redemption right survived until sale certificate and allowed redemption subject to clearing bank dues.

The post SARFAESI Redemption Right Continues Till Sale Certificate: Punjab & Haryana HC appeared first on TaxGuru.

Goods and Services Tax | One PAN, Many GSTINs: Navigating Multi-State GST Registration

Aashish Sharma — Thu, 01 Oct 2026 17:00:15 +0000

Understand multi-State GST registration, mandatory ISD, Rule 14A, stock transfers, cross-charge and PAN-level GST thresholds in 2026.

The post One PAN, Many GSTINs: Navigating Multi-State GST Registration appeared first on TaxGuru.

Goods and Services Tax | GST Made Simple: Understanding the Key Terms Every Taxpayer Should Know

Aasmeen Kaur — Thu, 01 Oct 2026 16:55:20 +0000

Understand key GST terms including supply, ITC, blocked credit, reverse charge, composite and mixed supply with practical examples and case law.

The post GST Made Simple: Understanding the Key Terms Every Taxpayer Should Know appeared first on TaxGuru.

Goods and Services Tax | Vigilance Department’s GST Powers: Search, Seizure and Excess Stock

suneelkumarkota — Thu, 01 Oct 2026 16:45:21 +0000

Know the GST powers of Vigilance and Enforcement teams, limits on search and seizure, excess stock treatment and dealer safeguards.

The post Vigilance Department’s GST Powers: Search, Seizure and Excess Stock appeared first on TaxGuru.

Goods and Services Tax | GST Departmental Audit: Reconciliation, Documentation & Audit Observation Handling

CA Jacky Bajaj — Thu, 01 Oct 2026 16:36:19 +0000

Practical guide to GST departmental audit under Section 65 covering ADT-01, reconciliations, ITC, RCM, documentation and audit observations.

The post GST Departmental Audit: Reconciliation, Documentation & Audit Observation Handling appeared first on TaxGuru.

Goods and Services Tax | GST ITC: Eligibility, Reversal, Utilisation and Tax Payment

SANSKRATI VARSHNEY — Thu, 01 Oct 2026 15:40:16 +0000

Understand GST ITC eligibility, GSTR-2B reconciliation, blocked credits, reversals, utilisation rules and Safari Retreats impact with a practical example.

The post GST ITC: Eligibility, Reversal, Utilisation and Tax Payment appeared first on TaxGuru.

Income Tax | ITAT Upholds Cash and Jewellery Additions; Remands ₹4.26 Crore Loose-Paper Addition

CA Vijayakumar Shetty — Thu, 01 Oct 2026 15:21:32 +0000

ITAT Jaipur upholds ₹45.76 lakh cash and ₹97,500 jewellery additions but remands ₹4.26 crore loose-paper addition for fresh examination.

The post ITAT Upholds Cash and Jewellery Additions; Remands ₹4.26 Crore Loose-Paper Addition appeared first on TaxGuru.

Goods and Services Tax | E-Invoicing under GST: The Digital Tax Record

Aastha Kedia — Thu, 01 Oct 2026 14:27:25 +0000

Understand GST e-invoicing applicability, ₹5 crore threshold, IRN process, 30-day reporting rule, legal framework, exclusions and ITC implications.

The post E-Invoicing under GST: The Digital Tax Record appeared first on TaxGuru.

Goods and Services Tax | Entry 11 of GST Notification 12/2017: The Builder Floor GST Trap

Atith Sinai Amonkar — Thu, 01 Oct 2026 14:25:42 +0000

GST analysis of pure labour contracts for S+4 builder floors, Entry 11 exemption, single residential units, residential complexes and key evidence.

The post Entry 11 of GST Notification 12/2017: The Builder Floor GST Trap appeared first on TaxGuru.

Goods and Services Tax | Section 122(1A) GST Penalty Prospective From 01.01.2021: Delhi HC

CA Santosh Vasantrao Dhumal — Thu, 01 Oct 2026 14:19:38 +0000

Delhi HC holds GST Section 122(1A) covers any person, including unregistered persons, but applies only to acts committed on or after 01.01.2021.

The post Section 122(1A) GST Penalty Prospective From 01.01.2021: Delhi HC appeared first on TaxGuru.

Company Law | IEC Registration in India: Eligibility, Documents, Process, Fees and Annual Update

Compliance Calendar LLP — Thu, 01 Oct 2026 14:13:21 +0000

Complete guide to IEC registration covering eligibility, documents, DGFT application process, ₹500 fee, exemptions and annual April-June update.

The post IEC Registration in India: Eligibility, Documents, Process, Fees and Annual Update appeared first on TaxGuru.

Goods and Services Tax | GSTAT Digital Appellate System: SOPs for Reply Filing and Transfer of Appeals

CA RAJENDER ARORA — Thu, 01 Oct 2026 14:08:47 +0000

GSTAT SOPs digitise reply filing and transfer of appeals, linking Rules 35–37 with Sections 109 and 112 and Principal Bench consolidation.

The post GSTAT Digital Appellate System: SOPs for Reply Filing and Transfer of Appeals appeared first on TaxGuru.

Goods and Services Tax | 101st Constitutional Amendment & GST: Reshaping India’s Indirect Tax Architecture

Maposa Anopaishe Violet — Thu, 01 Oct 2026 14:01:30 +0000

Analysis of the 101st Constitutional Amendment, Articles 246A, 269A and 279A, GST federalism and Supreme Court ruling in Mohit Minerals.

The post 101st Constitutional Amendment & GST: Reshaping India’s Indirect Tax Architecture appeared first on TaxGuru.

Business | Bombay High Court reinstates de-registration and promoter change for Mahalaxmi project

TG Team — Thu, 01 Oct 2026 13:45:06 +0000

The Bombay High Court has overturned a previous order by the Maharashtra Real Estate Appellate Tribunal (MahaREAT) concerning the Turf View Project in Mahalaxmi, Mumbai. The…

The post Bombay High Court reinstates de-registration and promoter change for Mahalaxmi project appeared first on TaxGuru.

Business | Hero MotoCorp reports 12% increase in September dispatches ahead of festive season

TG Team — Thu, 01 Oct 2026 13:45:02 +0000

Hero MotoCorp, the leading global manufacturer of motorcycles and scooters, has announced a robust 12% year-on-year growth in dispatches for September 2026. The company reported dispatching…

The post Hero MotoCorp reports 12% increase in September dispatches ahead of festive season appeared first on TaxGuru.

Income Tax | CIT(A) Cannot Dismiss Appeal for Non-Compliance Without Decision on Merits: ITAT Delhi

CA Vijayakumar Shetty — Thu, 01 Oct 2026 13:21:08 +0000

Delhi ITAT holds CIT(A) must pass a reasoned order on merits under Section 250(6) even where assessee fails to respond to appellate notices.

The post CIT(A) Cannot Dismiss Appeal for Non-Compliance Without Decision on Merits: ITAT Delhi appeared first on TaxGuru.

Custom Duty | No MRP-Based CVD on Disinfectants Supplied to Government Hospitals: CESTAT Kolkata

CA Sandeep Kanoi — Thu, 01 Oct 2026 13:03:29 +0000

CESTAT Kolkata holds CIF value cannot be enhanced by adding freight and insurance and MRP-based CVD is inapplicable to institutional supplies.

The post No MRP-Based CVD on Disinfectants Supplied to Government Hospitals: CESTAT Kolkata appeared first on TaxGuru.

Income Tax | ₹23.50 Lakh On-Money Addition Lacks Actual Payment Evidence: ITAT Delhi

CA Vijayakumar Shetty — Thu, 01 Oct 2026 13:00:49 +0000

ITAT Delhi dismisses Revenue appeal over ₹23.50 lakh alleged on-money as tax effect was below ₹60 lakh and actual payment evidence was absent.

The post ₹23.50 Lakh On-Money Addition Lacks Actual Payment Evidence: ITAT Delhi appeared first on TaxGuru.

Income Tax | Family Members Owned Seized Cash; Section 69A Addition in Assessee’s Hands Deleted: ITAT Delhi

CA Vijayakumar Shetty — Thu, 01 Oct 2026 12:55:29 +0000

Delhi ITAT deletes ₹1.43 lakh Section 69A addition as family members owned seized cash and supported ownership through affidavits and books.

The post Family Members Owned Seized Cash; Section 69A Addition in Assessee’s Hands Deleted: ITAT Delhi appeared first on TaxGuru.

Income Tax | No Book Defects or Comparables: 10% Profit Estimate Deleted by ITAT Kolkata

CA Vijayakumar Shetty — Thu, 01 Oct 2026 12:47:08 +0000

ITAT Kolkata deletes estimated profit addition as books were not rejected, no defects were found and 10% rate lacked comparable cases.

The post No Book Defects or Comparables: 10% Profit Estimate Deleted by ITAT Kolkata appeared first on TaxGuru.