Indian Tax & Legal Updates: Court Rulings, GST Refunds, and State Funds

{"root":{"type":"root","format":"","indent":0,"version":1,"children":[{"tag":"ul","type":"list","start":1,"format":"","indent":0,"version":1,"children":[{"type":"listitem","value":1,"format":"","indent":0,"version":1,"children":[{"mode":"normal","text":"Supreme Court","type":"text","style":"","detail":0,"format":1,"version":1},{"mode":"normal","text":" upheld a High Court order allowing the Income Tax department to reassess the income of former CJI Y.K. Sabharwal's sons. Details: ","type":"text","style":"","detail":0,"format":0,"version":1},{"type":"link","fields":{"rel":"noopener noreferrer nofollow","url":"https://timesofindia.indiatimes.com/india/sc-upholds-hc-order-allowing-i-t-to-reassess-income-of-ex-cjis-sons/articleshow/135441165.cms","newTab":true,"linkType":"custom"},"format":"","indent":0,"version":2,"children":[{"mode":"normal","text":"Times of India","type":"text","style":"","detail":0,"format":0,"version":1}],"direction":"ltr"}],"direction":"ltr"},{"type":"listitem","value":2,"format":"","indent":0,"version":1,"children":[{"mode":"normal","text":"CGST Rule 96(10)","type":"text","style":"","detail":0,"format":1,"version":1},{"mode":"normal","text":" requires the government to return any money recovered under the rule. Read more: ","type":"text","style":"","detail":0,"format":0,"version":1},{"type":"link","fields":{"rel":"noopener noreferrer nofollow","url":"https://www.business-standard.com/opinion/columns/cgst-rule-96-10-govt-must-return-recovered-money-126110100903_1.html","newTab":true,"linkType":"custom"},"format":"","indent":0,"version":2,"children":[{"mode":"normal","text":"Business Standard","type":"text","style":"","detail":0,"format":0,"version":1}],"direction":"ltr"}],"direction":"ltr"},{"type":"listitem","value":3,"format":"","indent":0,"version":1,"children":[{"mode":"normal","text":"NRI Tax Guidance","type":"text","style":"","detail":0,"format":1,"version":1},{"mode":"normal","text":": Section 86 (formerly 54F) allows deduction when selling mutual funds abroad to buy a house in India. Full article: ","type":"text","style":"","detail":0,"format":0,"version":1},{"type":"link","fields":{"rel":"noopener noreferrer nofollow","url":"https://www.livemint.com/money/personal-finance/moved-abroad-selling-mutual-funds-to-buy-a-house-in-india-know-the-tax-rules-11793530476560.html","newTab":true,"linkType":"custom"},"format":"","indent":0,"version":2,"children":[{"mode":"normal","text":"Mint","type":"text","style":"","detail":0,"format":0,"version":1}],"direction":"ltr"}],"direction":"ltr"},{"type":"listitem","value":4,"format":"","indent":0,"version":1,"children":[{"mode":"normal","text":"Statomat Factory Auction","type":"text","style":"","detail":0,"format":1,"version":1},{"mode":"normal","text":": Assets of the Navi Mumbai plant are back on the block for Rs 25‑28 cr. More info: ","type":"text","style":"","detail":0,"format":0,"version":1},{"type":"link","fields":{"rel":"noopener noreferrer nofollow","url":"https://insolvencytracker.in/2026/11/01/statomat-special-machines-liquidator-cuts-reserve-price-puts-navi-mumbai-factory-back-on-the-block-for-rs-25-28-cr/","newTab":true,"linkType":"custom"},"format":"","indent":0,"version":2,"children":[{"mode":"normal","text":"Insolvency Tracker","type":"text","style":"","detail":0,"format":0,"version":1}],"direction":"ltr"}],"direction":"ltr"},{"type":"listitem","value":5,"format":"","indent":0,"version":1,"children":[{"mode":"normal","text":"ESOP Tax Concerns","type":"text","style":"","detail":0,"format":1,"version":1},{"mode":"normal","text":": Current rules may hurt startups, says Economic Times commentary. See: ","type":"text","style":"","detail":0,"format":0,"version":1},{"type":"link","fields":{"rel":"noopener noreferrer nofollow","url":"https://m.economictimes.com/opinion/et-commentary/tax-wise-foolish-saving-dalal-street-could-come-at-a-cost-to-startup-street/articleshow/135434272.cms","newTab":true,"linkType":"custom"},"format":"","indent":0,"version":2,"children":[{"mode":"normal","text":"Economic Times","type":"text","style":"","detail":0,"format":0,"version":1}],"direction":"ltr"}],"direction":"ltr"},{"type":"listitem","value":6,"format":"","indent":0,"version":1,"children":[{"mode":"normal","text":"Meghalaya Tax Devolution","type":"text","style":"","detail":0,"format":1,"version":1},{"mode":"normal","text":": State receives Rs 688 cr from the centre's latest allocation. 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