SEBI: Floats consultation paper proposing e-bidding platform for NPOs fundraising on social stock exchange

MCA: Amends norms for overseas equity listings; Introduces revised Form LEAP-1

IBBI: Amends CIRP Regulations to include identified avoidance transactions, fraudulent trading under Resolution Plan

HC: Criticises Revenue's “cut and paste" exercise; Quashes Rs. 70.5 cr demand citing Proper-Officer's non-application of mind

• In Favour of Petitioner
• Citation Number : TS-601-HC(BOM)-2025-GST

Calcutta HC restrains DGGI from carrying 'search & seizure' pending similar proceedings before State

HC: Quashes cheque-dishonour case against corporate debtor’s ex-directors who had no 'signing' authority

ITAT: Rules renting EV's for charitable purposes not commercial, grants Sec. 12A/80G benefit

• In Favour of Assessee
• Citation Number : TS-882-ITAT-2025(DEL)

HC: Exposes Revenue’s blunder in calling HUL 'non- existing' entity; Quashes ITC denial

• In Favour of Petitioner
• Citation Number : TS-600-HC(MAD)-2025-GST

HC: Penalty for EWB delinquency unjustified when backed by all valid documents, and sans mens-rea

• In Favour of Petitioner
• Citation Number : TS-599-HC(HP)-2025-GST

PMLA Round-Up – June, 2025

MCA: Issues set of 62 FAQs on Lot 3 Forms to be released on July 14

ITAT: Condoning delay mechanically against very spirit of law, ‘sufficient/ reasonable cause’ imperative

• In Favour of Revenue
• Citation Number : TS-881-ITAT-2025(Mum)

HC: Bars Patanjali from running ads disparaging Dabur Chyawanprash, cautions against false drug efficacy

HC: Bail revocation distinct from cancellation, rejects Revenue’s plea of recall without ‘cogent’ evidence

• In Favour of Respondent
• Citation Number : TS-598-HC(DEL)-2025-GST

ITAT: Rejects Revenue's berry ratio for gemstone/jewelry-manufacturer, follows earlier order

• In Favour of Assessee
• Citation Number : TS-391-ITAT-2025(JPR)-TP

ITAT: Restricts guarantee commission to 0.5% as against TPO's 1.3%, follows Graphite India ruling

• In Favour of Both, Partially
• Citation Number : TS-390-ITAT-2025(Kol)-TP

ITAT: Excludes Infosys Limited citing functional dissimilarity, huge brand value in case of captive service provider

• In Favour of Assessee
• Citation Number : TS-388-ITAT-2025(HYD)-TP

ITAT: Remits TP issue covered under APA, directs TPO to examine agreement between assessee and CBDT

• In Favour of Both, Partially
• Citation Number : TS-389-ITAT-2025(Kol)-TP

'BSC Beacon' - Tax & Regulatory Insights! | June 2025

HC: Rejection of Assessee’s books u/s 145(3), unjustified, sans any discrepancy/infirmity noted by Revenue

• In Favour of Assessee
• Citation Number : TS-879-HC-2025(CHAT)