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High Court of Bombay adjudicated Writ Petition No. 1524 of 2021 involving the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019. The court examined the legality of the Designated Committee's decision under the SVLDRS and the applicability of the Finance Act, 2019.

The High Court of Bombay adjudicated Writ Petition No. 1524 of 2021 filed by a company registered under the Companies Act, 1956, now known as Kaarya F...

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Supreme Court Cancels Bail in Multi-Crore Deposit Scam Case Due to Prima Facie Evidence of Complicity and Money Trail. The Court found that the High Court erred in granting bail to an accused who was a major beneficiary of the fraud, as evidenced by witness statements and forensic audit reports.

The Supreme Court allowed an appeal by depositors against the grant of bail to respondent no.1, Vitthal Damuji Meher, in connection with a large-scale...

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Bombay High Court Dismisses Revenue Appeal in CENVAT Credit Case — Amendment to Rule 6 of Cenvat Credit Rules, 2004 Held Not Retrospective. CESTAT order allowing respondent's appeal upheld as the retrospective amendment by Finance Act, 2010 did not apply to the period prior to its enactment.

The appeal was filed by the Principal Commissioner of CGST and Central Excise, Mumbai East Commissionerate against Larsen & Toubro Limited (HED) under...

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Bombay High Court Allows Petition of Listed Company Seeking Copies of Seized Documents from GST Intelligence. Right to Copies Implicit Under CGST Act to Enable Compliance with SEBI Regulations and Audit Requirements.

The Petitioner, High Ground Enterprises Ltd., a company listed on the Bombay Stock Exchange and National Stock Exchange with over 10,000 shareholders,...

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Karnataka High Court Allows Petition Challenging Discriminatory Tax Notification Excluding Lead Sub-Oxide from Industrial Input List. Lead Sub-Oxide Held to Be an Industrial Input Under Entry 67 of Third Schedule to KVAT Act, Entitled to Reduced Tax Rate.

The petitioner, M/s A.P.S. Industries, a partnership firm engaged in the manufacture and sale of Lead Sub Oxide (Lead Oxide Grey), challenged a notifi...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Penalty Case. Journal Entry Set-off for Loan Repayment Does Not Violate Section 269T of Income Tax Act, 1961, as It Is Not a Repayment but an Adjustment of Mutual Claims.

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) which deleted the penalty ...