Latest posts
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Healthcare Services Remain Exempt Under GST Despite Delivery Through Another Hospital
Healthcare Global Enterprises Ltd. – WP No. 22236/2023 – Karnataka HC I. Introduction One of the defining features of the Goods and Services Tax regime has been the conscious decision of Parliament and the GST Council to keep essential public welfare services outside the tax net. Among these, healthcare services occupy a unique position. Unlike…
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FMV of underlying companies’ shares cannot determine share valuation under the unamended Rule 11UA
ACIT v. Kanchan Markhedkar (ITA No. 713/Mum/2025 and ITA No. 784/Mum/2025) I. Introduction The relationship between tax avoidance doctrines and statutory valuation rules has often produced some of the most challenging questions in Indian tax jurisprudence. While courts have repeatedly recognised the Revenue’s power to disregard sham transactions and colourable devices, they have been equally…
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Tribunal Prefers NCLT-Determined Valuation over Mechanical Rule 11UA Computation
Rajasehar Buvaneswari v. ITO (ITA No. 3332/Chny/2025) I. Introduction The valuation of unquoted equity shares has emerged as one of the most contested aspects of contemporary income-tax jurisprudence. Over the last decade, the legislature has introduced several anti-abuse provisions to discourage understatement of consideration in transactions involving privately held shares. Among these, Section 50CA of…
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Justice Surya Kant: A Jurisprudence at the Crossroads of Formalism and Realism
“The life of the law has not been logic: it has been experience.” When the American jurist Oliver Wendell Holmes Jr. penned those words, he was urging the legal world to look past rigid textbooks and see the breathing, complex reality of human life. Decades later, Roscoe Pound expanded on this vision, arguing that the…
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“Where It Appears” is not “Reason to Believe”: The Madras High Court Recalibrates the threshold in Section 74 of the GST Enactments
A reading of Fastenex Private Limited, Turbo Energy Private Limited and Ispahani Estates Private Limited v. State/Central Tax Authorities (Madras HC, 08.06.2026) On 8 June 2026, Justice C. Saravanan of the Madras High Court disposed of a cluster of writ petitions, filed by M/s. Fastenex Private Limited, M/s. Turbo Energy Private Limited and Ispahani Estates…