News & Updates Latest Tax newsNCLT Approves ₹231.50 Cr Resolution Plan; Holds Outstanding DoT Dues Settled Under IBC as No Spectrum Transfer Involved [Read Order] November 10, 2026The NCLT approved the resolution plan, holding that no spectrum transfer was involved and past DoT dues stood settled under IBC. Mumbai Court denies Anticipatory Bail to 81 Years Old CA in ₹200 Crore Foreign Remittance Case [Read Order] November 10, 2026Court denied anticipatory bail to 81-year-old Chartered Accountant accused of issuing 163 Form 15CB certificates linked to Rs. 200 crore in alleged fraudulent foreign remittances citing the need for custodial interrogation. Wrongly Reporting IGST Credit as CGST and SGST may be Technical Error: GSTAT Orders Reconsideration of ITC Demand [Read Order] November 10, 2026Inadvertent reporting of eligible IGST credit under CGST and SGST heads requires reconsideration in light of judicial rulings distinguishing technical errors from wrongful ITC availment. GSTAT directs Fresh Adjudication of ₹9.06 Lakh Refund Claim Involving Export and SEZ Turnover Mismatch [Read Order] November 10, 2026Discrepancies in export and SEZ turnover reported across GST returns require invoice-wise reconciliation and documentary verification before deciding an accumulated ITC refund claim. NCLT Approves Datalink Multi Trading Resolution Plan Despite Over ₹140 Cr Nil Valued Loans & Investments [Read Order] November 10, 2026NCLT approved the plan after finding statutory compliance despite nil-valued assets, relying on 100% CoC approval and IBC provisions. GST Authorities can’t Invoke GST Section 73 to Recover Inadmissible CENVAT Credit Carried Forward Through TRAN-1: GSTAT [Read Order] November 10, 2026Proceedings under Section 73 of the CGST Act cannot be used to recover allegedly inadmissible CENVAT credit arising under the previous tax regime and transitioned through TRAN-1. Two-Year Limitation u/s 54 of CGST Act does not Apply to Refund of Service Tax Appeal Pre-Deposit: GSTAT [Read Order] November 10, 2026A service tax appeal pre-deposit mistakenly paid through GST Form DRC-03 is not governed by the two-year refund limitation under Section 54 of the CGST Act. Mere Non-Payment of GST before Audit does not Establish Wilful Suppression u/s 74: GSTAT [Read Order] November 10, 2026Failure to voluntarily pay GST before a departmental audit does not automatically establish wilful suppression necessary to invoke Section 74 of the CGST Act, 2017 No Statutory Provision to Recover Service Tax Demand from Widow of Dead Assessee: Orissa HC quashes Proceedings [Read Order] November 10, 2026Service tax proceedings under Section 73 of the Finance Act, 1994 cannot continue against the legal heirs of a deceased assessee in the absence of an express statutory provision. Transitional GST ITC Cannot Be Denied Merely for Entering Credit in Wrong Table of GST TRAN-1: GSTAT [Read Order] November 10, 2026A procedural error in Form GST TRAN-1 cannot by itself defeat an otherwise eligible transitional credit claim under Section 140(3) of the CGST Act.
