A quick morning roundup of the tax and GST stories making news in India — tribunal rulings, department updates, due dates and compliance changes. Headlines are curated automatically from public sources; every item links to the original story.
The day's stories
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Corporate Law | Supreme Court: 10% EMD Limit Does Not Bar Forfeiture of Further Auction Deposit
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Income Tax | Third-Party Search Material Requires Section 153C; Protective Addition Deleted: ITAT Delhi
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Income Tax | ITAT Bangalore: ₹2 Lakh Cash Deposit Explained by Retail Sales Records
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NCLT Rejects ₹4.31 Cr CIRP Plea; Upholds COVID-19 Insolvency Restriction & ₹89.60 Lakh Balance Render Claim Unsustainable [Read Order]
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Income Tax | 100% Income and TDS Directed to Brother Despite 50:50 Reporting: ITAT Delhi
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Income Tax | ITAT Bangalore: ₹75.42 Lakh Property Addition Subject to Verification of Bank Payments
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Electronic Records or Printouts Cannot Form Basis for Determining Excise Duty Liability Without Statutory Compliance: CESTAT Sets Aside Demand Order [Read Order]
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NCLT Admits CIRP Over ₹2.23 Cr Financial Debt; Finds ICD Default Established Through Records and Settlement [Read Order]
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Income Tax | Bogus Purchase GP Addition Restricted From 2.88% to 1%: ITAT Delhi
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Income Tax | ITAT Delhi: ₹1.47 Crore Ad Hoc Salary, Interest and Creditor Adjustments Deleted
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Karnataka HC Quashes Income Tax Reassessment Proceedings for Failure to Consider Taxpayer’s Loan Explanation & Documents [Read Order]
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NCLT Approves ₹40 Lakh Resolution Plan; Finds 100% CoC Approval and IBC Compliance [Read Order]
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How this digest works: stories are selected automatically from public RSS feeds (Taxscan, Economic Times, Moneycontrol) and published with links to the original source. The digest is a news roundup, not professional advice — always check the linked source for details, and ask us if a change affects your business.
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