Welcome to SNK and Company. In this video, we present the Weekly Tax & Corporate Law Updates for the week ended 05 January 2026, covering important and impactful judicial pronouncements under the Income Tax Act, GST laws, and other corporate and foreign exchange regulations.
This episode discusses significant rulings such as the Bombay High Court’s decision on delayed income tax refunds and entitlement to further interest and compensation, revision under section 263 in cases of depreciation on goodwill, additions based merely on Form 26AS mismatches, treatment of interest income earned from staff loans, and invalid additions based on dumb documents in search assessments. We also examine Tribunal decisions on wrongful CPC adjustments while processing returns under section 143(1).
Under GST law, the video covers major High Court rulings on lack of jurisdiction under section 74, orders passed beyond the scope of show-cause notices, denial of ITC refunds despite binding precedents, improper cancellation of GST registration, and clarification by the Supreme Court on maintainability of writ petitions in cases involving alleged ITC fraud and extended limitation.
Further, we analyse important developments under FEMA and SAFEMA, including permissibility of overseas investments under the Liberalised Remittance Scheme and restrictions on extending foreign currency loans to foreign entities without RBI approval.
This video is highly relevant for Chartered Accountants, tax consultants, advocates, corporate professionals, business owners, compliance teams, and students who wish to stay updated with the latest legal position and judicial trends.
Disclaimer:
This video is for educational and informational purposes only. It does not constitute legal, tax, or professional advice. Viewers are advised to consult their tax consultant, legal advisor, or a SEBI registered investment adviser before taking any action based on this content.
If you find this update useful, please like, share, and subscribe to SNK and Company for weekly updates on Income Tax, GST, and corporate laws.
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