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Bombay High Court Quashes Reassessment Notice in Income Tax Case Due to Change of Opinion. Notice under Section 148 of Income Tax Act, 1961 for reassessment of derivative transaction loss set aside as Assessing Officer had already examined the issue during original assessment.

The petitioner, Shrikant Phulchand Bhakkad (HUF), through its Karta, filed a writ petition under Article 226 of the Constitution of India challenging ...

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Karnataka High Court Allows Writ Appeals Against Revisional Order Under KVAT Act — Remand to Assessing Officer Required. Revisional Authority Under Section 63A Cannot Pass Fresh Assessment Order After Setting Aside Original Assessment; Must Remand to Assessing Officer.

The appellant, M/s Solidus Hi Tech Products Pvt Ltd, a company manufacturing press components, sheet metal enclosures, telecommunication equipments, b...

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Supreme Court Allows Banks' Appeals in RBI Fraud Classification Case Regarding Natural Justice Requirements. Court Holds No Absolute Right to Personal Hearing or Full Forensic Audit Report Disclosure Under RBI Master Directions Issued Under Section 35A Banking Regulation Act, 1949.

The dispute arose from the classification of loan accounts as 'fraud' by banks under the Reserve Bank of India's Master Directions. The appellant bank...

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High Court of Bombay Hears Builders' Challenge to Provident Fund Coverage of Casual Construction Workers. Para 26(2) Amendment to Provident Fund Scheme Removes Waiting Period, Requiring Membership from Date of Joining.

Three writ petitions were filed by builders—Sandeep Dwellers Pvt. Ltd., M/s. R.B. Constructions, and Builders Association of India with its members�...

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Supreme Court Reviews Its Own Judgment That Struck Down Ex Post Facto Environmental Clearance Notifications Under Environment (Protection) Act. Review Petition Seeks Recall Citing Overlooked Binding Precedents.

Background: The present matter is a review petition arising from the Supreme Court's judgment in Vanashakti v. Union of India, dated 16 May 2025, whic...

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Karnataka High Court Adjudicates upon Writ Petitions Challenging Re-Assessment Proceedings for Assessment Years 2005-06 to 2007-08. Court Analyzes Whether Notices are Barred by Limitation and Whether Assessee Failed to Disclose Material Facts.

The petitioner, EIT Services India Pvt. Ltd. (formerly Hewlett Packard Globalsoft Private Limited), a company engaged in export of software services a...

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NCLAT Allows Fresh Form G to Maximize Asset Value in CIRP of Raigarh Champa Rail Infrastructure Pvt. Ltd. — Challenge Mechanism Under Regulation 39(1A)(b) of IBBI Regulations, 2016 Must Be Conducted Among Existing Resolution Applicants.

The appeal was filed by JM Financial Asset Reconstruction Company Ltd., acting as trustee of Rail December 2024 Trust, challenging the Impugned Order ...