Tag
Taxation
86 articles
Tax disputes and regulatory compliance continue to occupy Indian companies, though the financial impact appears limited for most. Several firms, including JK Cement, DCM Shriram, Hindustan Tin Works, and Whirlpool India, are navigating GST appeals, scrutiny notices, and tax demands, with most reporting minimal immediate financial consequences. Meanwhile, companies like ICICI Bank, Suryoday SFB, and Deepak Fertilisers are outlining dividend payment procedures and TDS guidelines for shareholders, emphasizing the importance of updated tax information. These ongoing developments highlight the persistent complexities of India’s tax landscape and the need for companies to proactively manage compliance risks, potentially impacting future profitability and investor sentiment.
JK Cement GST Appeals Partly Allowed by Kota Authority
JK Cement received two GST appeal orders from Additional Commissioner (Appeals), Kota on July 3, 2026.
Original demands of ₹2.99 crore and ₹7.28 crore were largely dropped, with minimal confirmed dema
CGST Commissioner Granted GST Appeal Permission
The Chhattisgarh High Court allowed the Principal Commissioner (CGST) to appeal the case before the GST Appellate Tribunal.
Permission includes filing the appeal within 30 days from the order date, al
DCM Shriram ITAT Partially Allows Tax Appeal
DCM Shriram discloses an ITAT order partially allowing its appeal against a Rs. 249.27 crore income tax demand for AY 2022-23.
The ITAT granted a relief of Rs. 172.82 crore and referred matters worth
Deepak Fertilisers ₹10/Share Dividend TDS Guidelines
Deepak Fertilisers Board recommended a final dividend of ₹10 per share (100%) for FY26, subject to AGM approval.
Shareholders must update PAN, residency status, and category details by August 17, 2026
Hindustan Tin Works Receives ₹1.60 Crore Tax Order
Hindustan Tin Works received a tax assessment order from Excise & Taxation Officer, Sonipat for AY 2015-16.
The order demands ₹80.22 lakh tax and ₹80.22 lakh interest, totaling ₹1.60 crore in liabilit
Desi Farms India Limited FY26 Net Loss ₹0.24 Lakh
Board approved audited FY26 results with net loss of ₹0.24 lakh and unmodified audit opinion.
Auditor highlighted management change, ₹50 lakh tax treatment dispute, and complete employee separation.
C
Suryoday SFB Final Dividend Rs 1.50 TDS Intimation
Suryoday SFB sets July 17, 2026 as record date for final dividend of Rs 1.50 per share, subject to shareholder approval at August 06 AGM.
Dividend payment will be subject to TDS deduction as per Incom
Sashi Bhusan Bhuian Conviction Upheld, 1-Year Imprisonment
High Court dismissed petitioner's revision, confirming conviction under Section 277 for filing false tax return claiming Rs.35,875 refund.
Petitioner, former Eastern Coalfield Ltd employee, was senten
Union of India Interlocutory Application Dismissed for Non‑Prosecution
The Gauhati High Court (Itanagar Bench) dismissed the Union of India's interlocutory application against SMS Smelters Ltd on 2 July 2026.
The applicant failed to appear for five consecutive hearings a
Bank of Baroda Secures Stay on Tax Order
Supreme Court heard Bank of Baroda's stay application against State Tax Officer on 3 July 2026.
Court ordered a stay on the impugned tax order, pending the appellant’s undertaking within a week.
A not
ICICI Bank Final Dividend ₹12 per Share
ICICI Bank Board recommended final dividend of ₹12 per equity share (600%) for FY25-26, subject to AGM approval on August 21, 2026.
Bank detailed TDS procedures for dividend payment, with rates varyin
Whirlpool India Receives INR 15.5 Lakh GST Demand
Whirlpool of India received a GST demand order for FY 2019-20 totaling INR 15.51 lakh from Bihar tax authorities.
The order comprises a tax demand of INR 6.96 lakh, interest of INR 7.75 lakh, and a pe
Happiest Minds Intimates Dividend Tax Deduction Process
Happiest Minds communicated TDS procedures for dividend income to shareholders under Income Tax Act 2025.
Company provided detailed note on dividend withholding tax rates and necessary annexures via e
Supreme Court Adjourns CGST vs Tirupati LPG Case
Supreme Court heard multiple civil appeals involving the Commissioner of CGST and Tirupati LPG Industries Ltd.
Parties filed several interim applications for stays, additional documents, and early hea
Delta Manufacturing Receives GST Scrutiny Notice
Delta Manufacturing received a GST scrutiny notice for FY 2023-24 returns from the Deputy Commissioner of State Tax.
The notice seeks explanation for discrepancies in Reverse Charge Mechanism supplies
Delta Manufacturing Receives GST Scrutiny Notice
Delta Manufacturing received a GST scrutiny notice for FY 2023-24 returns from the Deputy Commissioner of State Tax.
The notice seeks explanation for discrepancies in Reverse Charge Mechanism supplies
Dhanuka Agritech Final Dividend Tax Deduction Procedures
Dhanuka Agritech communicated TDS procedures for its recommended ₹2 per share final dividend for FY 2025-26, subject to AGM approval.
Resident shareholders with dividend under ₹10,000 annually or vali
Lambodhara Textiles GST Appeal Dismissed ₹7.24 Lakh
Lambodhara Textiles received an appellate order dismissing its appeal against a GST penalty of ₹7.24 lakh.
The company had initially received the demand order in March 2024 and filed an appeal thereaf
Bharat Bijlee Rs 35 Dividend TDS Procedure Notification
Bharat Bijlee Limited declared a dividend of ₹35 per share (700%) for FY 2025-26, payable from August 3, 2026.
The company communicated TDS procedures to shareholders, detailing varying tax rates for
Gillette India Rs 60 Final Dividend TDS Procedures
Gillette India provides TDS submission procedures for its Rs 60 per share final dividend declared for FY25-26.
Shareholders must submit tax documents via MAS portal or NSDL/CDSL by August 14, 2026 for
Birlasoft 35th AGM Notice with Final Dividend
Birlasoft Limited convenes its 35th Annual General Meeting virtually on July 27, 2026, to transact ordinary business including financial statement adoption.
The board recommends a final dividend of ₹4
Sanofi India Wins ₹72.7 Lakh Tax Appeal
Sanofi India received a favorable order from the Income Tax Commissioner (Appeals) for AY 2019-20, dropping proceedings under Section 201.
The order deletes a tax demand of ₹72.71 lakh related to non-
Kerala Sponge Iron Tax Appeal Adjourned
Supreme Court heard Civil Appeals 1274‑1275/2018 filed by Kerala Sponge Iron Ltd against the Income Tax Commissioner on 2 July 2026.
The bench comprising Justices K.V. Viswanathan and Shree Chandrashe
Reliance Power Receives ₹2.45 Crore Tax Penalty
Reliance Power discloses receipt of a ₹2.44 crore penalty order from the Income Tax Department for AY 2016-17.
The penalty was levied under Section 271(1)(c) due to a Section 14A disallowance and a tr
NCLT Restores Victory Dealtrade Post Strike-Off
NCLT Kolkata allows Income Tax Officer's appeal to restore Victory Dealtrade Private Limited to the active companies register.
The restoration was ordered due to pending income tax penalty proceedings
NCLT Orders Vedan International Trade Restoration
NCLT allows Income Tax Department's appeal to restore Vedan International Trade Pvt Ltd's name to the company register.
The restoration is ordered due to an outstanding tax demand of ₹1.69 crore again
Darjeeling Flour Mills Audit Appeal Dismissed
The Calcutta High Court dismissed Darjeeling Flour Mills' appeal against CGST audit notices for FY 2020‑2024, upholding the lower court's order.
The Court held Section 65(1) of CGST Act imposes no tim
ICICI Prudential Life Insurance GST Appeal Order Update
ICICI Prudential Life Insurance received a partially favorable GST appeal order for FY2018 from Andhra Pradesh tax authorities.
The order partially upholds a tax demand totaling ₹1.65 lakh for excess
N.N. Ispat Tax Petition Withdrawn by HC
N.N. Ispat Pvt Ltd filed a tax petition (WPT No.94/2024) against the Principal and Assistant Commissioners of Income Tax, Raipur.
The petitioner, represented by Director Vishnu Agrawal, sought the Cou
NCLAT Chennai Lists GST Department Appeal Against Vasan Construction Liquidator
NCLAT Chennai lists GST department's appeal against Vasan Construction liquidator for admission hearing on August 3, 2026.
The appeal challenges a previous order related to the liquidation process of
Purohit Construction GST Appeal Dismissed, ₹4.16Cr Demand
Purohit Construction discloses receipt of an Order-in-Appeal dated June 23, 2026, from GST Commissioner (Appeals), Ahmedabad.
The appeal against an earlier GST demand order was dismissed, upholding a
Ashiana Housing Receives ₹2.28 Lakh Income Tax Penalties
Ashiana Housing Ltd discloses receipt of two penalty orders from the Income Tax Department, Delhi, totaling ₹2,28,286.
A ₹2,08,286 penalty under Section 271C was levied for non-deduction and non-depos
Excise Commissioner vs Sudershan Castings Adjourned
Supreme Court heard Civil Appeal No. 8513/2018 between Commissioner of Central Excise, Jammu and Sudershan Castings (P) Ltd on 2 July 2026.
Both parties filed numerous interim applications for condona
Nagal Garment Tax Appeal Adjourned 4 Weeks
The Supreme Court heard Civil Appeal No. 4558/2019 filed by Nagal Garment Industries Pvt. Ltd. against the Commissioner of Income Tax.
The bench, comprising Justices Kotiswar Singh and N.V. Anjaria, g
Supreme Court Adjourns Nokia India Tax Appeal
Supreme Court heard Nokia India Private Ltd's appeal against Additional Commissioner of Income Tax on 2 July 2026.
The appellant sought permission to file additional documents under IA No. 51464/2018.
Supreme Court Adjourns Samsung Tax Appeal, Grants Four‑Week Extension
Supreme Court heard Civil Appeal No.5244/2018 between Principal Commissioner of Income Tax Delhi and Samsung India Electronics Ltd.
The bench, comprising Justices N. Kotiswar Singh and N.V. Anjaria, g
Bayer CropScience Final Dividend ₹60/Share TDS Update
Bayer CropScience declared a final dividend of ₹60 per equity share for FY 2025-26, payable to shareholders on record as of August 5, 2026.
The company detailed new TDS procedures under the Income Tax
Infosys Stay Application Adjourned Four Weeks
Supreme Court heard Infosys Ltd's stay application against Commissioner of Central Tax, Bengaluru on 2 July 2026.
The bench comprised Justices Nongmeikapam Kotiswar Singh and N.V. Anjaria, sitting as
United Breweries Receives ₹1162.53 Crore Demand Notice
United Breweries received a demand notice for ₹1162.53 crore from the Market Committee, Patiala, for alleged non-payment of fees.
The notice covers market fee, penalty, rural development fund, and int
Supreme Court Orders Reliance Infrastructure Spare Copy
Supreme Court listed Civil Appeal No.1509/2021 (Commissioner of Income Tax vs Reliance Infrastructure) for hearing on 2 July 2026.
The court directed the petitioner to file a spare copy for the respon
Bannari Amman Sugars Rs 12.72 Crore Tax Recovery Notice
Bannari Amman Sugars received Rs 12.72 crore tax recovery notice from Erode District Collector under Revenue Recovery Act.
Company had previously won High Court case in 2012 challenging this electrici
Goodricke Final Dividend Rs 2 Tax TDS
Goodricke Group communicates TDS procedures for its recommended Rs 2 per share final dividend for FY26, payable post-AGM approval on 29th July 2026.
Resident shareholders must submit Form 121 or other
Goodricke Final Dividend Rs 2 Tax TDS
Goodricke Group communicates TDS procedures for its recommended Rs 2 per share final dividend for FY26, payable post-AGM approval on 29th July 2026.
Resident shareholders must submit Form 121 or other
Siemens Limited ₹18 Dividend TDS Compliance Notice
Siemens Limited communicated TDS procedures for its proposed ₹18 per share dividend for FY ended March 31, 2026, requiring shareholder submissions by July 29, 2026.
The notice details varying TDS rate
Park Hotels Receives ₹41.07 Crore Tax Demand
Apeejay Surrendra Park Hotels received an income tax demand order of ₹41.07 crore for AY 2024-25.
The demand results from disallowances under Sections 37(1), 40(a)(ia), 68, 69C, and 35D of the Income-
State Bank of India GST Show‑Cause Quashed
The High Court quashed a GST show‑cause notice issued to State Bank of India covering multiple financial years.
The notice demanded Rs 5,48,56,775 GST plus equal penalty and interest, totaling approxi
State Bank of India GST Show‑Cause Quashed
The High Court quashed a GST show‑cause notice issued to State Bank of India covering multiple financial years.
The notice demanded Rs 5,48,56,775 GST plus equal penalty and interest, totaling approxi
IFGL Refractories Final Dividend 21.5% TDS Disclosure
IFGL Refractories announced TDS procedures for its proposed final dividend of ₹2.15 per share for FY26, subject to shareholder approval.
Detailed TDS rates and exemption criteria were provided for res
Sharada Medicals Case Dismissed for Default
Calcutta High Court Circuit Bench at Jalpaiguri dismissed WPA 2793 of 2022 (Sharada Medicals vs State of West Bengal) for default.
Petitioner’s counsel failed to appear, resulting in no representation
Mphasis FY26 Net Profit Rises 9.4% to ₹18,626 Million
Mphasis reported 9.4% YoY net profit growth to ₹18,626 million with 11.6% revenue increase to ₹158,796 million for FY26.
The company proposed a final dividend of ₹62 per share and announced AGM on Jul
Archean Chemical Receives ₹34.24 Lakh Tax Penalty
Archean Chemical received a penalty order of ₹34.24 lakh for AY 2017-18 from the Deputy Commissioner of Income Tax.
The penalty was imposed under section 270A for under-reported income alleged to be d
Harish Textile Receives Income Tax Reassessment Order
Harish Textile Engineers received Income Tax Order under Section 148A(3) and Notice under Section 148 for AY 2021-22 reassessment.
The order, received June 30, 2026, deems the case fit for reassessmen
FirstCry ESOP Trust Receives Income Tax Notice
Brainbees ESOP Trust received an Income Tax Order and Notice for A.Y. 2022-23 concerning share issuance valuation.
The IT Department alleges income escaped assessment on 1.04 crore shares issued at fa
Income Tax vs Indorama Synthetics Adjourned
On 1 July 2026, the Supreme Court heard Civil Appeals 8865‑2019, 8866‑2019 and 8867‑2019 concerning tax matters under.
The appellant is the Additional Commissioner of Income Tax & ANR, while the respo
Supreme Court Adjourns Alembic Tax Appeal
Supreme Court heard Civil Appeal No.6973/2017 between the Income Tax Commissioner (Baroda) and Alembic Ltd on 1 July 2026.
The bench consisted of Justices K.V. Viswanathan and Shree Chandrashekhar, si
Tesla Transformers Ltd vs Central Excise Adjourned 4 Weeks
Supreme Court heard Civil Appeal No. 4842/2018 between Tesla Transformers Ltd and the Commissioner Central Excise on 1 July 2026.
The bench comprised Justices K.V. Viswanathan and Shree Chandrashekhar
Tesla Transformers Ltd vs Central Excise Adjourned 4 Weeks
Supreme Court heard Civil Appeal No. 4842/2018 between Tesla Transformers Ltd and the Commissioner Central Excise on 1 July 2026.
The bench comprised Justices K.V. Viswanathan and Shree Chandrashekhar
Hero Cycles Tax Appeal Adjourned
Supreme Court heard Civil Appeal No.1462/2017 between Hero Cycles Ltd and Central Income Tax Commissioner on 1 July 2026.
The bench comprised Justices K.V. Viswanathan and Shree Chandrashekhar, sittin
Hero Cycles Tax Appeal Adjourned
Supreme Court heard Civil Appeal No.1462/2017 between Hero Cycles Ltd and Central Income Tax Commissioner on 1 July 2026.
The bench comprised Justices K.V. Viswanathan and Shree Chandrashekhar, sittin
Cochin Tax Commissioner vs Fact Ltd Adjourned
Supreme Court adjourned the appeal between Commissioner of Central Excise, Cochin and M/s Fact Ltd for four weeks.
Garden Silk Mills Tax Appeal Adjourned
Supreme Court heard Civil Appeal No. 17537/2017 between Commissioner of Income Tax I and Garden Silk Mills Ltd on 1 July 2026.
The bench comprised Justices Nongmeikapam Kotiswar Singh and N.V. Anjaria
Garden Silk Mills Tax Appeal Adjourned
Supreme Court heard Civil Appeal No. 17537/2017 between Commissioner of Income Tax I and Garden Silk Mills Ltd on 1 July 2026.
The bench comprised Justices Nongmeikapam Kotiswar Singh and N.V. Anjaria
Mukka Proteins Income Tax Appeal Partly Allowed
Mukka Proteins received appellate order dated 30th June 2026 from CIT(A)-2, Panaji for AY 2018-19 income tax dispute.
Appellate authority deleted ₹8.08 crore additions but sustained ₹7.54 crore additi
National Fertilizers Ltd Tax Appeal Adjourned
Supreme Court heard Civil Appeal No.8036/2018 between Commissioner of Income Tax and National Fertilizers Ltd on July 1, 2026.
The appellant sought adjournment citing non‑availability of the learned A
Automobile Corporation of Goa Rs 22.50 Dividend Tax Procedures
Automobile Corporation of Goa's board recommended a final dividend of ₹22.50 per share (225%) for FY26, subject to shareholder approval at the July 22 AGM.
The company detailed extensive TDS procedure
Anik Industries Wins Income Tax Appeals for Five Years
Anik Industries Ltd. intimates exchanges of favorable orders from the Commissioner of Income Tax (Appeals) for five assessment years.
The CIT(A) allowed the company's appeals against income tax assess
Anik Industries Wins Income Tax Appeals for Five Years
Anik Industries Ltd. intimates exchanges of favorable orders from the Commissioner of Income Tax (Appeals) for five assessment years.
The CIT(A) allowed the company's appeals against income tax assess
Digitide Solutions Receives ₹19.76 Crore Tax Refund
Digitide Solutions received an income tax refund of ₹19.76 crore from the CPC, Bengaluru for AY 2025-26.
The refund comprises ₹18.38 crore in principal tax and ₹1.38 crore in interest, received on Jun
Global Surfaces Receives ₹1.74 Crore Income Tax Penalty
Global Surfaces Limited received an order dated June 29, 2026, imposing a penalty of ₹1.73 crore for alleged contravention of Section 269SS of the Income-tax Act for AY 2019-20.
The penalty relates to
India's GST Completes Nine Years with Major Reforms
Government publication highlights nine-year GST journey, detailing its transformation from 17 taxes into unified system with 1.65 crore taxpayers.
Next-Gen GST reforms implemented two primary slabs (5
Sapphire Foods FY26 ₹485M Loss, Devyani Merger Proposal
Sapphire Foods reported standalone net loss of ₹484.60 million for FY26 despite 8.03% revenue growth to ₹26,511.99 million, impacted by exceptional items and increased expenses.
The company announced
Marksans Pharma FY26 Net Profit Rises 60% YoY
Marksans Pharma reported audited FY26 standalone net profit of ₹3,007 million, a 60% increase from the previous year.
Consolidated revenue for FY26 reached ₹29,509 million, with a net profit attributa
Rajnandini Metal FY25 Results with GST Demand Qualification
Rajnandini Metal responded to NSE queries on its audited FY25 results, clarifying submission of financials and single business segment.
Auditors issued a qualified opinion due to unresolved GST and in
Sparc Electrex Reports ₹4.46 Crore FY26 Loss
Sparc Electrex reported a standalone net loss of ₹4.46 crore for FY26, with revenue declining 92% to ₹28.29 lakh.
The company's bank accounts remain frozen since November 2025 due to non-payment of ou
Take Solutions Revises FY26 Results with Qualified Opinion
Take Solutions resubmits audited standalone and consolidated financial results for FY26 ending March 31, 2026 to comply with SEBI format requirements.
Auditors issue qualified opinion due to uncertain
Goblin India FY26 Results with Qualified Audit Opinion
Goblin India Limited filed revised standalone and consolidated audited financial results for FY26 and H1 FY26 following stock exchange directives.
Statutory auditors issued a qualified opinion due to
Kirloskar Industries Posts ₹503.18 Crore FY26 Consolidated Profit
Kirloskar Industries reported audited consolidated financial results for Q4 and FY26, incorporating the effect of a merger approved by NCLT.
The results show a net profit of ₹503.18 crore for FY26 and
Whirlpool India FY2026 Audited Results and Dividend
Whirlpool of India's Board recommended a final dividend of ₹5 per share for FY2026, totaling ₹6,344 lacs.
Standalone net profit for the year was ₹24,223 lacs, with consolidated net profit attributable
Ajanta Pharma FY26 Revenue Hits ₹5,453 Crore with 17% Growth
Ajanta Pharma reported strong FY26 performance with revenue growing 17% to ₹5,453 crore and PAT increasing 15% to ₹1,056 crore, crossing the ₹5,000 crore revenue milestone.
The company declared a divi
Allied Blenders FY26 Record ₹220 Cr Profit, 270% Dividend
Allied Blenders achieved record FY26 performance with ₹3,949 Cr revenue (11.5% growth), ₹568 Cr EBITDA (25.8% growth), and ₹220 Cr PAT (34.1% growth) while expanding margin by 163 basis points.
The Bo
Hindustan Motors Receives Qualified Audit Opinion
Hindustan Motors received a qualified audit opinion due to material uncertainty about its ability to continue as a going concern.
The company reported a net loss of ₹29 lakh for FY26 after writing off
Kothari Industrial FY26 Consolidated Loss ₹72.19 Crore
Kothari Industrial reported a standalone net loss of ₹31.19 crore and a consolidated net loss of ₹72.19 crore for FY ended March 31, 2026.
Auditors issued a qualified opinion highlighting six key issu
Ratnamani Recommends ₹10/Share Dividend for FY26
Ratnamani Metals & Tubes Board recommended a 500% dividend of ₹10 per share for FY26, subject to shareholder approval at the August 18, 2026 AGM.
The company communicated TDS procedures for dividend p
Wheels India FY26 Profit Rises 46%, Declares Rs 9.14 Dividend
Wheels India reported 46% YoY net profit growth to Rs 158.05 crore with 15.2% revenue increase to Rs 5,464.94 crore for FY 2025-26.
Company declared final dividend of Rs 9.14 per share and increased i
Udayshivakumar Infra FY2026 Net Profit ₹1.66 Crore
Udayshivakumar Infra reported audited FY2026 net profit of ₹1.66 crore versus FY2025 loss of ₹7.21 crore, with Q4 profit of ₹13.35 crore.
Company declared non-applicability of audit qualification impa
Sanofi Consumer Healthcare India Reports 33% FY25 Profit Growth
Sanofi Consumer Healthcare India reported 33% net profit growth to ₹2,401 million and 21% revenue increase to ₹8,784 million for FY25.
Company recommends ₹75 per share dividend and convenes AGM on Jun