NCLT: Orders Co.'s liquidation after SRA “miserably failed” to implement resolution plan

Government extends ADD on import of Aluminium Foil, CVD on import of Aluminium Wire in coil form

India and Tajikistan agree to deepen trade, pharma, agriculture & services ties

HC: Revenue must initiate reassessment after subsequent return-filing by Assessee; Remands matter

• In Favour of Petitioner
• Citation Number : TS-433-HC(MAD)-2026-GST

HC: Remands Sec. 74 demand where turnover appears below registration threshold

• In Favour of Petitioner
• Citation Number : TS-432-HC(MAD)-2026-GST

HC: Sets aside ITC denial for belated return-filing in view of Section 16(5) amendment

• In Favour of Petitioner
• Citation Number : TS-431-HC(MAD)-2026-GST

ITAT: Rejects separate benchmarking, NIL ALP of management charges; Notes assessee substantiated benefit derived

• In Favour of Assessee
• Citation Number : TS-462-ITAT-2026(CHNY)-TP

HC: Missing lorry receipts alone cannot justify tax demand, suppliers’ returns must be considered; Remands matter

• In Favour of Petitioner
• Citation Number : TS-430-HC(MAD)-2026-GST

ITAT: Upholds CIT(A)’s quashing of final assessment order passed without draft order

• In Favour of Assessee
• Citation Number : TS-459-ITAT-2026(CHNY)-TP

HC: Sets-aside assessment order against seigniorage fees; Stays enforcement pending SC verdict

• In Favour of Petitioner
• Citation Number : TS-427-HC(MAD)-2026-GST

ITAT: Deletes TP-adjustment qua interest on ECB, notes no deduction claimed nor P&L A/c debited

• In Favour of Assessee
• Citation Number : TS-458-ITAT-2026(VIZ)-TP

HC: Assessee’s possibility to establish genuine supply cannot be ruled out without providing opportunity to place evidence

• In Favour of Petitioner
• Citation Number : TS-429-HC(MAD)-2026-GST

HC: Quashes consolidated SCN & Rs. 2.54 cr demand following Milroc case; Allows fresh notices

• In Favour of Petitioner
• Citation Number : TS-428-HC(BOM)-2026-GST

IBC Round-Up - May, 2026

ITAT: ITAT: Allows simultaneous exemptions u/s 10(23FB), 10(34), and 10(35) to Venture Capital Fund on dividend income

• In Favour of Assessee
• Citation Number : TS-861-ITAT-2026(Mum)

Can “Defective” Sec. 33 Application Stop Limitation Clock? Apex Court Overrules Restrictive Approach to Arbitral Challenge

HC: No statutory bar against consolidated SCN; Distinguishes Section 73/74 proceedings from assessment

• In Favour of Petitioner
• Citation Number : TS-426-HC(GAUH)-2026-GST

ITAT: ITAT: Issuance of notice u/s 143(2), a mandatory requirement for completion of reassessment; Quashes reassessment

• In Favour of Assessee
• Citation Number : TS-860-ITAT-2026(CHNY)

ITAT: ITAT: Consideration for grant of development rights, taxable as capital gains, not IFoS

• In Favour of Assessee
• Citation Number : TS-858-ITAT-2026(Mum)

HC: Quashes FIR, ECIR against NewsClick, Founder, cites “bald assertions” of criminal conspiracy