2+ hour, 27+ min ago   (1704+ words) This weekly round-up analytically summarises the key stories related to the Supreme Court and High Courts reported at Taxscan. in during the previous week from 11 July, 2026 to 17 July, 2026. The Supreme Court has upheld the arrest powers of the GST ( Goods…...

19+ hour, 3+ min ago   (1239+ words) For Indian resident taxpayers who hold investments abroad whether shares in a US brokerage account, units in an overseas ETF, or a foreign bank account, Schedule FA (Foreign Assets) in the Income Tax Return is not optional. Filing Schedule FA…...

20+ hour, 13+ min ago   (289+ words) The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) deleted income tax addition, ruling that gross bank credits are not taxable in bogus billing business. The counsel for the assessee submitted that the assessee was only a name-lender, acting…...

19+ hour, 10+ min ago   (272+ words) The Bombay High Court in a recent decision ruled that the priority of registered secured creditors over state tax dues under Section 26E of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The Respondent…...

23+ hour, 1+ min ago   (311+ words) TheChandigarh bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) ruled that a Municipal Corporation is not a ‘person’ liable to service tax on sale of advertisement space prior to July 2012. The appellant, Municipal Corporation Mohali, was issued…...

1+ day, 1+ hour ago   (228+ words) In a recent ruling, the Bombay High Court set aside an order of the Joint District Registrar and Collector of Stamps, Nashik, which had directed the petitioner to pay stamp duty on a sale certificate issued pursuant to an auction…...

21+ hour, 30+ min ago   (344+ words) The Mumbai Bench of the National Company Law Tribunal (NCLT) has held that the pendency of avoidance transaction proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot obstruct the liquidation of a corporate debtor once the Committee of Creditors (CoC)…...

21+ hour, 30+ min ago   (202+ words) The Chennai bench of the Income Tax Appellate Tribunal (iTAT) held that future rent receivable discounting charges are not interest and hence do not attract tax deduction at source (TDS ) under Section 194A of the Income Tax Act, 1961. The assessee, OPC…...

23+ hour, 34+ min ago   (313+ words) The Ahmedabad bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) held that the penalty under Rule 26 of the Central Excise Rules, 2002 cannot be imposed solely on the basis of confessional statements. The appeals were filed against the…...

1+ day, 1+ hour ago   (431+ words) The Bangalore Bench of the Income Tax Appellate Tribunal allowed the deduction of Rs. 1,47,50,000 paid by an assessee to a financial advisor as a success fee, holding that the expenditure had a direct connection with the sale of shares and…...