Judgement

Court rules share buyback is capital reduction, not property receipt under undervaluation provisions.

HC Clarifies Buyback Transactions Outside Deemed Income Provisions

The ITAT Rajkot allowed Section 87A rebate on STCG where the total income does not exceed the limit of Rs 7 lakh and deleted the tax demand.

Section 87A Rebate Cannot be Disallowed Against STCG If Income Is Below Rs 7 Lakh: ITAT

Drawback allowed where SEZ goods cleared to DTA and later re-exported

CBIC Clarifies Drawback Eligibility on Re-Export of SEZ-Sourced Goods

Articles

Income tax refund is not taxable, but Interest on refund is taxable under “Income from Other Sources” as per the Income-tax Act, 1961 and Income Tax Act, 2025, and must be reported in the year of receipt.

Refund in Hand, Tax in Demand: The Truth About Interest on Income Tax Refund

Court confirms penalty for URP misdeclaration and defective documents during inter-state goods transit.

High Court Upholds GST Penalty for E-Way Bill Misdeclaration During Transit

ROC imposes penalty of 3.67 Cr on Company and 4 Directors for Violation of Separate Bank Account Rule in Private Placement

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HC Clarifies Buyback Transactions Outside Deemed Income Provisions

Section 87A Rebate Cannot be Disallowed Against STCG If Income Is Below Rs 7 Lakh: ITAT

CBIC Clarifies Drawback Eligibility on Re-Export of SEZ-Sourced Goods

Refund in Hand, Tax in Demand: The Truth About Interest on Income Tax Refund

High Court Upholds GST Penalty for E-Way Bill Misdeclaration During Transit

ROC imposes penalty of 3.67 Cr for Violation of Separate Bank Account Rule in Private Placement