Daily Intelligence Capsule — 18 September 2026
Latest EditionLatest Edition — Friday, 18 September 2026Income Tax
Centre Challenges the Section 147A Ruling at the Supreme Court
Days after the Punjab & Haryana High Court struck down Section 147A, the Centre has moved the Supreme Court against that ruling, warning of a “huge vacuum in law” — heard urgently before Chief Justice Surya Kant's bench.
Read the briefingIncome Tax
Supreme Court: Settlement Commission Orders Are Final, Full Stop
In Omaxe Limited, the Supreme Court holds that an Assessing Officer cannot reopen a final ITSC settlement order through reassessment — Section 245D(6) before the Commission itself is the only route, and only on fraud or misrepresentation.
Read: Supreme Court: Settlement Commission Orders Are Final, Full StopCase Law Watch
Gujarat HC on GST ITC for Non-Taxable Transactions; Telangana HC on Reassessment ‘Fishing Inquiries’
Kor Chems: ITC on a GIDC leasehold assignment restored in full — Section 17(5)(d) never had anything to block, since the transaction was never taxable. Naandi Foundation: a reassessment notice citing only “further in-depth scrutiny,” with no specific unexplained amount, cannot stand.
Read: Gujarat HC on GST ITC for Non-Taxable Transactions; Telangana HC on Reassessment ‘Fishing Inquiries’Did You Know
Section 17(5)(d) Doesn't Block Credit on Its Own
Section 17(5)(d) of the CGST Act presupposes a taxable inward supply — if the underlying transaction was never taxable, the blocking provision has nothing to bite on.
Read: Section 17(5)(d) Doesn't Block Credit on Its OwnWhat's the Penalty?
Can an Assessing Officer reassess a settled ITSC order after Revenue already lost its Section 245D(6) challenge?
Your client's Settlement Commission order survived one Revenue challenge already — can the Assessing Officer now reopen the same issue through an ordinary reassessment instead?
Read: Can an Assessing Officer reassess a settled ITSC order after Revenue already lost its Section 245D(6) challenge?