Here’s the Tax Law Daily Bulletin for May 22, 2026.
GST
- PUNJAB & HARYANA HC DIRECTS RECONSIDERATION OF CONTRACTORS’ CLAIM FOR ADDITIONAL GST PAYMENT AFTER TAX RATE HIKE FROM 12% TO 18%
- PUNJAB & HARYANA HC GRANTS BAIL IN RS. 66.60 CRORE FAKE ITC CASE
- BOMBAY HIGH COURT FRAMES KEY QUESTIONS ON MANDATORY DISTRIBUTION OF ITC U/S 20 CGST ACT
- GST LEVY ON TRANSFER OF LEASEHOLD RIGHTS: SC DISMISSES DEPT.’S SLP
- DEPT. APPEAL DOESN’T AUTOMATICALLY STAY APPELLATE ORDER; GST REGISTRATION RESTORATION DIRECTIONS MUST BE FOLLOWED WITHOUT SPECIFIC STAY: ALLAHABAD HC
Custom Duty
Income Tax
- BORROWED FUNDS USED FOR SUBSIDIARY STILL ELIGIBLE FOR INTEREST DEDUCTION U/S 36(1)(III): SUPREME COURT
- BONA FIDE RELIANCE ON FORM 16 CAN’T BE TREATED AS MISREPORTING: ITAT DELETES RS. 51.20 LAKH PENALTY ON ESOP EXEMPTION CLAIM
- FUNCTIONAL SIMILARITY, TURNOVER DIFFERENCES CRUCIAL FOR COMPARABLE SELECTION: DELHI HC REMANDS TRANSFER PRICING ISSUE IN AMERICAN EXPRESS CASE
- INCOME TAX DEPT. ENABLES ITR-1 AND ITR-4 FILING UTILITIES FOR AY 2026–27; RETURN FILING SEASON BEGINS
Company Law
- COMPANY LIQUIDATION DOES NOT SHIELD PROMOTERS FROM BUYBACK OBLIGATIONS: KERALA HC
- PENDING NCLAT APPEALS BAR RELOCATION UNDER COMPANIES RULES: CALCUTTA HIGH COURT
