NCLT: Pendency of DRT, writ proceedings no bar to Sec. 7 admission; Allows petition

Taxsutra & Coortus Advisors Present M&A Rulings Digest - February, 2026!

AAR: Hookah served with food in restaurants constitute separate supply; Taxable differently

• In Favour of Applicant
• Citation Number : TS-126-AAR(WB)-2026-GST

ITAT: Rules DTVSV settlements qualify for “refund of tax” entitled to interest u/s 244A; Grants refund interest to LIC Housing Finance

• In Favour of Assessee
• Citation Number : TS-271-ITAT-2026(Mum)

Significant GST and Indirect Tax Rulings, Litigation Trackers, Notifications and Circulars for February 2026

SEBI: Debars and penalises Arcotech Ltd. and group entities for fund diversion, sham transactions

ITAT: Receipts from software licences sale, not royalty & software maintenance fee not FIS, under India-Canada DTAA

• In Favour of Assessee
• Citation Number : TS-270-ITAT-2026(DEL)

SC to examine Zoomcar plea on appellate- remedy denial after HC refused appeal liberty

HC: Upholds constitution of SEBI’s Special Cell to wind up CRB Mutual Fund's Scheme

HC: Company's "critical" financial position no ground to reject Company Secretary's resignation

CBIC revises tariff values for edible oils, gold, silver and brass scrap

HC: Adjourns hearing on validity of CAs, CSs appearance before tribunals without enrolment under Advocates-Act

ITAT: Fair valuation loss claimed in respect of debentures, allowable expenditure u/s 37(1)

• In Favour of Assessee
• Citation Number : TS-269-ITAT-2026(Mum)

ITAT: Upholds revision order u/s.263 for GMR Airports, TPO failed to enquire into SBLC arrangements

• In Favour of Assessee
• Citation Number : TS-207-ITAT-2026(Bang)-TP

HC: GST cannot be deducted from retiral dues; Slams Employees Welfare Corporation officer

• In Favour of Applicant
• Citation Number : TS-125-HC(ALL)-2026-GST

SEBI: Penalises Coffee Day Enterprises, CEO Malavika Hegde and other officials over financial misstatements

ITAT: Deletes Rs. 518 Cr. interest disallowance against Tata Steel on loans for foreign acquisition, as incurred for business expansion

• In Favour of Assessee
• Citation Number : TS-268-ITAT-2026(Mum)

SEBI: Slaps Rs. 99 lakh penalty on Mediaone Global Entertainment, KMPs for serious financial irregularities

ITAT: Restricts TP adjustment to non-US AE transactions only; Considers settlement of transaction with US AE in MAP resolution

• In Favour of Assessee
• Citation Number : TS-202-ITAT-2026(Bang)-TP

ITAT: Upholds DRP’s order directing benchmarking payment of interest on ECB at LIBOR+200 bps; Follows earlier order

• In Favour of Both, Partially
• Citation Number : TS-204-ITAT-2026(VIZ)-TP