HC: Proceedings against recipient sans prior action against supplier for ITC mismatch, impermissible; Quashes SCN

• In Favour of Petitioner
• Citation Number : TS-984-HC(KER)-2025-GST

SC admits SLP on taxability of notional rent on builder’s unsold flats held as stock-in-trade

AAR: PVC Raincoats not ‘Articles of apparel and clothing’, but of ‘Plastic’, taxable at 18%

• In Favour of Respondent
• Citation Number : TS-983-AAR(GUJ)-2025-GST

RBI announces major liquidity injection via OMO purchases, campaign to resolve Ombudsman grievances

AAR: Imitation zari yarn falls under HSN 56050020, taxable at 5%

• In Favour of Applicant
• Citation Number : TS-982-AAR(GUJ)-2025-GST

GSTN issues additional FAQs on GSTR-9/9C for FY 2024-25

ITAT: Non-adjudication of grounds not argued, not ‘mistake apparent from record’; Rejects rectification plea

• In Favour of Assessee
• Citation Number : TS-1608-ITAT-2025(Ahd)

HC: Erroneous excess claim of FTC not underreporting or misreporting of income; Sec. 270A not invocable

• In Favour of Assessee
• Citation Number : TS-1609-HC-2025(KAR)

SEBI: In major finfluencer crackdown, impounds Rs. 546 cr. from Avadhut Sathe, for unregistered investment advisory

RBI cuts policy repo rate by 25 bps

SC: High interest in commercial contracts not ‘unconscionable’; Upholds Arbitral-award allowing 36% compound-interest in bill-discounting dispute

Brazil : Brazil Increases Income Tax Exemption, Taxes Dividends, Imposes Minimum Tax on High-Income Individuals

HC: Rectification application u/s 254(2) filed within 6 months of ITAT-order receipt, not time-barred

• In Favour of Assessee
• Citation Number : TS-1605-HC-2025(BOM)

SC: Exemption on rent from leasing out residential premises not tied with tenant's personal use

HC: Absent specific DTAA provision, can't read " virtual presence"/"virtual PE"; Emphasises " interpretational constraints"

• In Favour of Assessee
• Citation Number : TS-1603-HC-2025(DEL)

ITAT: Quashes time-barred assessment order; HC remand-order did not extend statutory timeline

• In Favour of Assessee
• Citation Number : TS-710-ITAT-2025(CHNY)-TP

HC: Upholds ITAT-order quashing final assessment order passed in name of non-existent company

• In Favour of Assessee
• Citation Number : TS-714-HC-2025(BOM)-TP

ITAT: Filing of audit report mandatory but timeline merely procedural; Allows deduction u/s 80IAC

• In Favour of Assessee
• Citation Number : TS-1602-ITAT-2025(DEL)

ITAT: Quashes assessment order barred by limitation, notes issue pending resolution in Shelf-drilling

• In Favour of Assessee
• Citation Number : TS-713-ITAT-2025(HYD)-TP

HC: Dismisses Revenue’s appeal qua IGS adjustment; Considers dismissal of similar appeal arising out of common impugned order

• In Favour of Assessee
• Citation Number : TS-712-HC-2025(DEL)-TP