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Karnataka High Court Quashes Customs Seizure of Roasted Areca Nuts, Upholds Chapter 20 Classification and Statutory Assessment Framework

Summary The Karnataka High Court's decision in Vaibhav International Vs. Commissioner of Customs delivers a comprehensive ruling on the intersection of ...
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Delhi High Court Validates Income Tax Search and Seizure of Bank Locker Under Section 132(1): Chowdhary Case Analysis

Summary The Delhi High Court's decision in Shilpa Chowdhary Vs Principal Director of Income Tax (Investigation) delivers a significant clarification on ...
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Bank of India Flexi Cap Fund: Legal Structure, Asset Allocation, Exit Load and Tax Treatment Explained

Summary Bank of India Flexi Cap Fund is an open-ended equity scheme managed by Bank of India Investment Managers Private Limited, with the BSE 500 TRI as ...
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Restored GST Registrations Render Departmental Appeals Infructuous: Hyderabad GSTAT Ruling on Section 107 Limitation and Implementation Estoppel

Summary The Hyderabad GSTAT's consolidated ruling in Mandalaneni Srinivasarao Vs Sri Sai Traders makes a significant dual pronouncement on GST ...
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Supreme Court Restores Acquittal in Criminal Breach of Trust Case: Prosecution Must Prove Entrustment and Dishonest Intent Beyond Reasonable Doubt

Summary The Supreme Court's judgment in Ramkrushna Prahllad Dongardive Vs State of Maharashtra delivers an important reaffirmation of fundamental ...
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Reassessment Quashed for Want of Section 143(2) Notice: ITAT Delhi Rules in Favour of Ravinder Oil Group Members

Summary The ITAT Delhi's order in Sanjeev Kumar Agarwal Vs ACIT decisively reinforces the principle that notice under Section 143(2) of the Income Tax ...
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How Customs Lost Security Rights Over Bank Guarantees and FDRs by Missing the 30-Day Liquidation Deadline: NCLAT Delhi Ruling

20 December 2023 — The 30-day period prescribed under Regulation 21A of the IBBI (Liquidation Process) Regulations, 2016, expired. From this date, the security was deemed by operation of law to have ...
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NIL-Valued Assets Under CIRP Cannot Accrue to Successful Resolution Applicant — NCLT Ahmedabad Ruling in Raninga Paper Mills Case

Summary The NCLT Ahmedabad's ruling in In re Jigar Tarunkumar Bhatt, approving the resolution plan submitted by Mr. Chandresh Lalitbhai Soni for Raninga ...
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Delhi HC on GST refund blockage during anti-evasion probe: scope of Section 54(11) clarified

Summary The Delhi High Court in Devi Electronics Pvt Ltd Vs Commissioner CGST Delhi South and Ors. (Delhi High Court) upheld the Commissioner’s decision ...
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GST Exemption for PDS Wheat Milling: West Bengal AAR Ruling on 25% Goods Value Threshold

Summary The West Bengal AAR, through Order No. 17/WBAAR/2026-27 dated 01/10/2026, has reaffirmed the consistent position that composite supplies ...
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SEBI's Proposed Overhaul of Vault Manager Regulations: Expanding Bullion Custody Framework Beyond EGRs to ETFs and Derivatives

Gold ETFs, Silver ETFs, and physically settled exchange-traded derivatives on bullion have collectively witnessed substantial growth in assets under management, trading volumes, and retail ...
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Raipur GSTAT Sets Aside Identical First Appellate Orders Passed Without Independent Reasoning in Three GST Proceedings

Summary The Raipur GSTAT's order in Cheema Local Carrier And Construction Vs Commissioner State GST — APL/31/RPR/2026 (along with connected APL/05/RPR/2026 ...