TAXATION


Moneylife Digital Team 05 November 2025
The Mumbai bench of the income-tax appellate tribunal (ITAT) has ruled in favour of actor Aishwarya Rai Bachchan, deleting a Rs4.11 crore disallowance made by the assessing officer (AO) under Section 14A of the Income Tax Act, 1961, read with Rule 8D. The tribunal held that the disallowance was...

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Moneylife Digital Team 30 October 2025
The Karnataka High Court (HC) has disposed a writ petition filed by Buckeye Trust after the income tax appellate tribunal (ITAT) president reassigned its case to a different bench, following concerns that an earlier tribunal order appeared to have been generated using artificial intelligence...

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Moneylife Digital Team 27 October 2025
In a significant and cautionary ruling that blends technology, law and due process, the Bombay High Court (HC) has quashed an income-tax (I-T) assessment against KMG Wires Pvt Ltd after finding that the assessing officer (AO) relied on non-existent, artificial intelligence (AI)-generated case...

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Moneylife Digital Team 16 October 2025
The Calcutta High Court (HC) has set aside an order of the income-tax appellate tribunal (ITAT) that had imposed a cost of Rs50,000 on a small trader while remanding his case for fresh assessment. The HC held that such a heavy penalty on an individual assessee was harsh and unjustified,...

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Moneylife Digital Team 06 October 2025
“I attended the inquiry with the officer, with no expectations and a blank mind, thinking it would be a one-sided affair. After the first session, I realised the Indian government and the Union ministry of finance (MoF) are committed to resolving entrepreneurs' issues and providing a long-term...

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Moneylife Digital Team 03 October 2025
National consumer helpline (NCH) has received more than 3,900 calls related to GST 2.0 in view of the implementation of the goods and services tax (GST) reforms 2025. In a statement, the Union ministry of consumer affairs, food and public distribution, says the calls comprise 31% calls related...

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Moneylife Digital Team 01 October 2025
In a major action against tax evasion and money laundering, the Ranchi zonal office of the directorate of enforcement (ED) has provisionally attached 10 immovable properties worth Rs15.41 crore belonging to Amit Gupta and his associates in Kolkata and Howrah. The attachments were made on 29...

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Moneylife Digital Team 29 September 2025
The government’s much-touted cut in goods and services tax (GST) rates was meant to be a festival gift for consumers. Announced by PM Narendra Modi from the Red Fort on Independence Day and ratified by the GST council at its 56th meeting on 3–4 September, the measure reduced slabs from four to...

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Moneylife Digital Team 26 September 2025
The Supreme Court of India has dismissed the curative petition filed by Nestlé SA, marking the end of all legal remedies for the Swiss multinational regarding dividend taxation disputes. The apex court’s ruling follows its earlier judgment that treaty benefits under most favoured nation (MFN)...

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Moneylife Digital Team 26 September 2025
US president Donald Trump has unveiled sweeping new trade measures, announcing a 100% tariff on branded and patented pharmaceutical imports beginning 1 October 2025, unless manufacturers are actively building production plants in the country. The announcement, made on his social media platform...

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S N Thyagarajan (Bar  and   Bench) 20 September 2025
Supreme Court Justice Manmohan on Friday issued a sharp warning that unless India fundamentally reimagines its legal and regulatory systems, it will fall short of its ambitious 2047 goal of becoming a developed economy.   "How does an income tax officer or a GST officer treat you when you are...

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Moneylife Digital Team 19 September 2025
As the country prepares for a fresh round of goods and services tax (GST) rate cuts on consumer durables, automobiles, and medicines from 22nd September, a new survey by LocalCircles highlights a persistent concern: most consumers do not believe earlier GST reductions were effectively passed on...

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Moneylife Digital Team 18 September 2025
The changes under the new goods and services tax (GST) framework, effective from 22 September 2025, are expected to boost demand for essential and discretionary goods, particularly among India’s middle class. A CRISIL Ratings report says the government’s decision to reduce GST rates on 11 of...

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Moneylife Digital Team 17 September 2025
In a major relief to LG Electronics India Pvt Ltd, in a long-running dispute over customs duty on imported smartwatches, the Supreme Court ruled that a valid certificate of origin from South Korea was sufficient to claim duty exemption under the India–Korea comprehensive economic partnership...

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Moneylife Digital Team 16 September 2025
The Union government has extended the deadline for filing income-tax returns (ITRs) for assessment year (AY)25–26 by one day, to 16 September 2025, after technical glitches disrupted access to the e-filing portal on the original due date.   In a late-night post on the social media platform X,...

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Moneylife Digital Team 15 September 2025
Dismissing social media posts claiming an extension till the end of the month, the income-tax (I-T) department has clarified that the deadline for filing income tax returns (ITRs) for assessment year (AY)25–26 remains 15th September.   In a late-night post on X, the department labelled as...

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India’s goods and services tax (GST) council meeting on 3rd September unveiled what was billed as the most radical simplification of the levy since its introduction in 2017. From 22nd September, the country will move to two broad slabs—5% and 18%—with essentials such as foodgrains and fresh...

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Moneylife Digital Team 10 September 2025
The US Supreme Court (SC) has agreed to decide whether president Donald Trump acted lawfully when he invoked emergency powers to impose sweeping global tariffs, setting the stage for a landmark battle over presidential authority and the future of America’s trade policy, say media...

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Giti Pratap (Bar  and   Bench) 10 September 2025
The Kerala High Court on Wednesday refused to lift its earlier interim order suspending toll collection at the Paliyekkara toll plaza along NH-544 until the National Highways Authority of India (NHAI) complies with directions for road repairs (Shaji J Kodankadath v. Union of India and connected...

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Moneylife Digital Team 09 September 2025
Holding that advance money received for portions of land not actually sold cannot be assessed as capital gains, the Chennai bench of the income tax appellate tribunal (ITAT) directed the assessing officer (AO) to allow exemption under section 54F of the Income-tax (I-T) Act, 1961 and...

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