Tag
Taxation
47 articles
Tax disputes and regulatory challenges continue to impact Indian businesses, as evidenced by recent Supreme Court decisions dismissing appeals from Jaipur Tax and Avik Televentures, alongside GST notices issued to Dr. Agarwal's Health Care. These developments highlight the ongoing complexities and potential financial risks associated with taxation for companies operating in India. Meanwhile, corporate earnings reports reveal a mixed picture, with TAKE Solutions reporting substantial income growth and TeamLease demonstrating a 33% increase in net profit, while Anuh Pharma and Rajnandini Metal experienced declines. Investors should carefully monitor ongoing tax litigation and regulatory changes, as they could significantly affect corporate profitability and future growth prospects.
Supreme Court Dismisses Jaipur Tax Appeal
Supreme Court heard civil appeal by Principal Commissioner of Central Excise & CGST Jaipur against Rajasthan State Road Transport Corporation.
Appeal challenged a 06 Jan 2026 order of the Customs, Exc
Avik Televentures SLP Dismissed by Supreme Court
Supreme Court heard SLPs 16466/2026 and 16433/2026 filed by Avik Televentures Pvt Ltd against GST Officer, Ward-71.
Court found no grounds to interfere with the High Court's judgment dated 30-03-2026.
Anuh Pharma FY26 Net Profit at ₹41.05 Crore
Anuh Pharma reported audited FY26 net profit of ₹410.46 lakhs, a decrease from ₹473.52 lakhs in the previous year.
The Board recommended a final dividend of ₹1.50 per share (30%) for FY26, subject to
TAKE Solutions FY26 Net Profit ₹1,085 Lakhs, Income Up 496%
TAKE Solutions reported audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, approved by board on May 20, 2026.
Consolidated Total Income surged 495.68% YoY to ₹6,
Dr. Agarwal's Health Care Gets ₹20.5 Cr GST Notice
Dr. Agarwal's Health Care received a GST show cause notice alleging ₹20.5 crore in discrepancies for FY 2023-24.
The notice from Chennai GST authorities cites output turnover differences, short tax pa
Elecon Engineering Final Dividend TDS Procedures
Elecon Engineering communicated TDS procedures for its recommended final dividend of ₹1.50 per share for FY 2025-26.
Resident shareholders must submit Form 121 by June 12, 2026, to avoid 10% TDS, with
Rajnandini Metal FY26 Net Loss ₹32 Lakhs with Qualified Audit
Board approved audited FY26 results showing net loss of ₹32 lakhs with qualified audit opinion due to unresolved GST and income tax demands.
Auditors issued qualified opinion over ₹290.70 crore GST an
Krsnaa Diagnostics Rs 11.3 Crore Tax Demand
Krsnaa Diagnostics discloses Rs 11.3 crore tax demand from Income Tax Department for AY 2018-19 and 2019-20.
Company received assessment orders and demand notices from Assistant Commissioner of Income
TeamLease FY26 Net Profit Up 33% to ₹141.38 Crore
TeamLease reported consolidated FY26 net profit of ₹141.38 crore, up 33% YoY, with revenue growth of 6% to ₹11,859.38 crore.
The board approved a ₹238 crore buyback at ₹1,600 per share, representing 8
Eimco Elecon Final Dividend TDS Communication
Eimco Elecon declared final dividend of ₹4 per share (40%) for FY26, subject to AGM approval.
Company detailed TDS procedures for resident and non-resident shareholders under Income Tax Act 2025.
Shar
DOMS Industries Receives ₹46.72 Lakh Customs Order
DOMS Industries received a final customs order demanding ₹13.36 lakh GST, ₹13.36 lakh penalty, and ₹20 lakh fine.
The order upholds a prior ruling on alleged goods misclassification during imports, mo
Virmati Software Tax Petition Restored by Supreme Court
Supreme Court (Justice Alok Aradhe) heard IA Nos.280096/2025 and 280095/2025 on 15‑May‑2026 concerning Virmati Software & Telecommunications Ltd.
The Court condoned delay in filing the restoration app
Supreme Court Dismisses Income Tax Recall Application
The Director of Income Tax (International Taxation) II Mumbai filed Miscellaneous Application No. 1100/2026 seeking recall of order dated 13‑01‑2026.
Respondent MSM Satellite (Singapore) Pte Ltd oppos
Supreme Court Dismisses Income Tax Recall Application
The Director of Income Tax (International Taxation) II Mumbai filed Miscellaneous Application No. 1100/2026 seeking recall of order dated 13‑01‑2026.
Respondent MSM Satellite (Singapore) Pte Ltd oppos
Supreme Court Dismisses Wipro Tax Application
Supreme Court dismissed the Commissioner of Income Tax III’s miscellaneous application against Wipro Limited on 19 May 2026.
The dismissal follows an earlier order in Miscellaneous Application No. 110
Supreme Court Condones Delay for Vedanta
Supreme Court heard SLP No.26287/2026 filed by Deputy Commissioner of Income Tax against Vedanta Ltd regarding condonation of filing delay.
The Court, comprising Justices K.V. Viswanathan and Vijay Bi
Supreme Court Condones Delay for Vedanta
Supreme Court heard SLP No.26287/2026 filed by Deputy Commissioner of Income Tax against Vedanta Ltd regarding condonation of filing delay.
The Court, comprising Justices K.V. Viswanathan and Vijay Bi
Electrosteel Castings Appeal Delay Condoned
Supreme Court heard Civil Appeal 20914/2026 between Commissioner of CGST and Electrosteel Castings regarding 2019 EA orders.
Court condoned filing delay for IA No.129269/2026 and admitted the appeal.
Supreme Court Condones Delay, Dismisses Union Petition
Supreme Court heard a Special Leave Petition filed by Union of India and others challenging a High Court judgment dated 08‑01‑2026.
Petition sought condonation of delay in filing; Court condoned delay
TSF Investments FY26 Net Profit Rises 8.3% YoY
TSF Investments reported audited standalone and consolidated financial results for FY26, approved by the board on May 19, 2026.
Standalone net profit increased to ₹25,563.69 lakhs in FY26, with EPS of
Tata Elxsi Intimates Shareholders on Dividend Tax Procedures
Tata Elxsi's Board recommended a final dividend of ₹75 per share for FY26, subject to shareholder approval at the June 2026 AGM.
The company communicated detailed TDS procedures to shareholders as per
Tata Elxsi Intimates Shareholders on Dividend Tax Procedures
Tata Elxsi's Board recommended a final dividend of ₹75 per share for FY26, subject to shareholder approval at the June 2026 AGM.
The company communicated detailed TDS procedures to shareholders as per
ICRA Analytics Receives ₹19.17 Cr Tax Demand
ICRA's material subsidiary ICRA Analytics received a rectification order from the Income Tax Department for FY 2024-25.
An outstanding tax demand of ₹19.17 crore has been raised against the subsidiary
Jay Bharat Maruti Q4 PAT Surges 340% QoQ
Jay Bharat Maruti's Q4 FY26 PAT surged 340.55% QoQ to ₹78.86 crore, driven by tax rate change and GST incentives.
Full-year FY26 PAT increased 333.58% YoY to ₹137.86 crore with EBIDTA margin expanding
TTL Enterprises FY26 Net Profit Drops 74%
Board approved audited FY26 results showing net profit of ₹5.96 lakhs, down 74% from ₹23.31 lakhs in FY25.
Auditors issued unmodified opinion but flagged ₹4.70 lakhs income tax demand and ₹15.45 lakhs
T.V. Today Wins ₹13.98 Cr Tax Appeal at ITAT
T.V. Today Network discloses favorable ITAT order dismissing Income Tax Department appeal for AY 2018-19.
ITAT ruled in company's favor on all grounds involving total disputed amount of ₹13.98 crore.
Jay Bharat Maruti Q4 PAT Soars 29% on Tax Benefit
Jay Bharat Maruti reported Q4 FY26 PAT of ₹78.86 Cr, up 29% YoY, significantly boosted by a ₹36.79 Cr deferred tax asset remeasurement.
Total Income for Q4 grew 25.47% YoY to ₹766.98 Cr, with EBIDTA m
DMCC Receives ₹1.06 Crore GST Demand Appeal Order
DMCC Speciality Chemicals discloses receipt of an appellate order dated April 27, 2026, related to a GST dispute.
The Additional Commissioner (Appeals) set aside a prior order and upheld a demand of ₹
Paradeep Phosphates NCLAT Appeal Rejected on Entry Tax
Paradeep Phosphates intimates NCLAT rejected its appeal for Entry Tax exemption under a BIFR-sanctioned rehabilitation scheme.
The company had fully provided for a ₹76 crore liability and deposited ₹2
Jay Bharat Maruti Q4 Net Profit Surges 302% YoY
Jay Bharat Maruti reported a 302% YoY surge in standalone net profit to ₹788.58 crore for Q4 FY26, primarily due to a ₹367.90 crore deferred tax reversal.
The Board recommended a final dividend of ₹0.
Indian Hotels Recommends ₹3.25 Dividend with TDS Details
Indian Hotels Board recommended a final dividend of ₹3.25 per share for FY26, including a ₹0.50 special dividend.
Detailed TDS procedures for resident and non-resident shareholders were communicated,
Ramco Cements ₹66.65 Crore Excise Duty Dispute Dropped
The Ramco Cements disclosed a favorable order dropping a ₹66.65 crore excise duty dispute related to MRP-based levy for bagged cement.
The order was issued on 15th May 2026 and received by the company
JSW Cement Receives ₹7.56 Crore GST Demand Notice
JSW Cement received a GST demand-cum-show cause notice for ₹7.56 crore from Patna tax authorities on May 15, 2026.
The notice alleges multiple GST compliance issues across FY 2020-21 to 2022-23, inclu
Sagility Income Tax Demand Reduced to ₹56.68 Crore
Sagility received a rectification order reducing its income tax demand for AY 2023-24 from ₹100.00 crore to ₹56.68 crore.
The demand stems from transfer pricing adjustments of ₹189.50 crore made by th
New India Assurance Receives ₹255.68 Crore Tax Refund
The New India Assurance Company Ltd received an income tax refund of ₹255.68 crore for assessment year 2019-20.
The refund comprises ₹233.11 crore in principal tax and ₹22.57 crore in interest from th
United Foodbrands FY26 Net Loss at ₹619.11 Crore
United Foodbrands reported audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, approved by the board.
Consolidated net loss widened to ₹619.11 crore for FY26 from
Commissioner of Central Excise Appeal Dismissed by SC
Supreme Court dismissed the civil appeal filed by the Commissioner of Central Excise, Customs & Service Tax, Bhubaneswar-I.
The appeal challenged a CESTAT order dated 5 August 2025 concerning multiple
Commissioner of Central Excise Appeal Dismissed by SC
Supreme Court dismissed the civil appeal filed by the Commissioner of Central Excise, Customs & Service Tax, Bhubaneswar-I.
The appeal challenged a CESTAT order dated 5 August 2025 concerning multiple
Chemkart India FY26 Net Profit ₹20.78 Crore
Chemkart India approved audited standalone and consolidated financial results for H2 and full year ended March 31, 2026, reporting ₹21,259.48 lakh revenue and ₹2,077.22 lakh net profit.
The Board appo
Future Maker Life Care Bail, Rs261 Cr
Supreme Court granted regular bail to Radhey Shyam and co‑petitioner, managing directors of Future Maker Life Care Pvt Ltd, pending tax case.
The company faces alleged cheating of investors amounting
EIH Associated Hotels Wins Full Tax Penalty Appeal
EIH Associated Hotels discloses favorable CIT(A) order deleting entire income tax penalty demands.
The appeal successfully challenged penalties of ₹27.8 lakh for FY17 and ₹11.98 lakh for FY18.
Regulat
Paradeep Phosphates Loses NCLAT Appeal Against Orissa
NCLAT dismisses Paradeep Phosphates' appeal against NCLT order rejecting enforcement of BIFR-sanctioned tax exemption scheme.
Tribunal rules State of Orissa never consented to Entry Tax exemption unde
Transindia Real Estate Receives ₹3.12 Lakh Tax Demand
Transindia Real Estate received an Income Tax Assessment Order dated April 28, 2026, for the block period from April 2018 to April 2025.
The order, under Section 143(3) read with Section 158BC(1)(c),
Transindia Real Estate Receives ₹3.12 Lakh Tax Demand
Transindia Real Estate received an Income Tax Assessment Order dated April 28, 2026, for the block period from April 2018 to April 2025.
The order, under Section 143(3) read with Section 158BC(1)(c),
JK Cement Receives ₹8.02 Lakh GST Demand Order
JK Cement discloses receipt of GST demand order for ₹8.02 lakh plus interest and penalty from Gujarat tax authorities.
The company received the order on May 17, 2026, alleging wrong availment of input
JK Cement Receives ₹8.02 Lakh GST Demand Order
JK Cement discloses receipt of GST demand order for ₹8.02 lakh plus interest and penalty from Gujarat tax authorities.
The company received the order on May 17, 2026, alleging wrong availment of input
Income Tax Appeals Withdrawn: Varian, MSM
The Director of Income Tax filed IA No.250268/2025 to withdraw the appeal, and the Court allowed the withdrawal.
Respondent Varian Medical Systems India submitted IA No.114641/2025, which the Court di