News & Judgements

The ITAT has ruled that a "subsequent conversion by a purchaser does not change the character of agricultural land sold by an assessee," and that "no capital gain tax is…

The CESTAT has "set aside a penalty under Section 114AA," ruling that an "exporter's declaration in shipping bills is not false merely due to DRI's alternate classification view."…

The CESTAT has ruled that a "service tax demand raised solely on income declared in an income tax survey is not sustainable." This is a significant ruling that provides clarity on…

The NFRA has "released a provisional list of audit firms of listed companies that failed to file NFRA-2 forms during 2023-24." This is a significant setback for the company and…

The CESTAT has ruled that the "Customs Department cannot deny an import duty exemption made under valid DFRC/DFIA licenses but later cancelled by the DGFT." This is a significant…

The Supreme Court has directed the Centre to create a "revival fund for stressed real estate projects," stating that "speculative participants driven by profit motives cannot be…

The Bar Council of Delhi has "cancelled the licenses of over 100 advocates for fake degrees." This is a significant setback for the company and highlights the challenging business…

The Supreme Court is set to "decide on whether Wipro can claim an excise exemption for new products made in an existing unit post-cut-off date." This is a significant setback for…

The ITAT has "quashed an income tax revision" and "accepted as genuine" a "share capital from alleged shell companies." This is a significant ruling that provides clarity on the…

The IBBI has stated that the "RTI Act does not cover the redressal of grievances, non-compliance of rules, etc." This is a significant setback for the company and highlights the…

The NCLT has "admitted an application of IDBI Bank of IBC," as the "corporate debtor acknowledges OTS on due debt within the period of limitation." This is a significant ruling…

The CBIC has "issued a clarification on the GST treatment of secondary post-sale discounts." This is a significant setback for the company and highlights the challenging business…

The NCLT has "admitted a CIRP application of Canara Bank," citing "default payment of a debt amount beyond ₹1 crore." This is a significant ruling that provides clarity on the…

The IBBI has "refused to answer queries on eligibility to appear for a limited insolvency examination," citing the "availability of information on the IBBI website." This is a…

The Gujarat High Court has ruled that a "writ court cannot supervise or rectify every procedural lapse in arbitral proceedings," as it is "contrary to the objective of minimum…

The NCLAT, New Delhi, has ruled that the "absence of a charge defeats the Income Tax Department's secured creditor status." This is a significant ruling that provides clarity on…

The Supreme Court has ordered that "NCLT and NCLAT vacancies must be filled on a war footing," and that "RERA must be adequately staffed." This is a significant ruling that…

The NCLAT has ruled that a "corporate debtor's liability as a guarantor remains unaffected by internal adjustments among financial creditors." This is a significant ruling that…

The NCLAT has ruled that the "rejection of a legal consultant's claims by an RP" cannot be "set aside" due to the "absence of invoices for services rendered." This is a…

The NCLAT has ruled that an "adjudicating authority can't overlook and admit a petition under Section 9 of the IBC" once a "settlement is confirmed by an affidavit." This is a…

The NCLAT has ruled that the "restoration of a petition under Section 7 of the IBC" is "not permissible" after the "payment of principal and interest" by the "corporate debtor."…

The Rajasthan High Court has ruled that an "intermediary requires a tripartite agreement" under the "IGST Act." This is a significant ruling that provides clarity on the legal…

The Delhi High Court has ruled that "surprise searches can be conducted on a family's lockers" under "Section 132 of the Income Tax Act." This is a significant ruling that…

The Kerala High Court has made a significant ruling, stating that a "parent can abandon EWS reservation." The court's decision, which is a significant victory for the government,…

The Madhya Pradesh High Court has ordered the "live streaming of criminal cases." The court's decision, which is a significant victory for the government, was made on the grounds…

The Supreme Court has issued a "slew of directions to protect homebuyers and strengthen NCLT/NCLAT and RERA." This landmark judgment reinforces the government's responsibility to…

The jewellery industry in India is finding a cushion in the festive season and recent GST relief, offsetting the negative impact of US tariffs. The industry, which was facing…

Satya Srinivas has been appointed as "India's Executive Director at ADB." The move is a significant step towards a more user-friendly and less intrusive business environment, is…

The DRAT has "set aside a sale not held under the provisions of the SARFAESI Act" and has "directed LIC Housing Finance to refund the sale consideration." This is a significant…

Edtech unicorn Lead has "cut losses by 70%," but its "revenue remains flat." This is a significant setback for the company and highlights the challenging business environment it…

Kavin Mittal's Hike has "shut down operations completely." This is a significant setback for the company and highlights the challenging business environment it faces. The move is…

The Centre has directed businesses to "display GST rate cut benefits on consumer goods from September 22." This directive aims to ensure that the benefits of recent tax cuts are…

The NPPA has directed "drug makers to pass on benefits through revised MRPs from September 22" following recent GST reforms. This is a significant move for the company, as it…

The CBIC has "issued a directive for monitoring commodity prices" post-GST rationalization. This is a significant setback for the company and highlights the challenging business…

The 56th GST Council decisions are set to "benefit both coal producers and consumers." This is a significant setback for the company and highlights the challenging business…

The ED has conducted "multi-state raids" in a "₹650 crore fake ITC scam." This is a significant setback for the company and highlights the challenging business environment it…

Food industry titans have "promised lower prices for consumers" following GST rate cuts. This is a significant setback for the company and highlights the challenging business…

The MCA has "widened the scope of fast-track mergers under the Companies Act, 2013." This is a significant move for the company, as it aims to strengthen its position in the…

The DRAT has "dismissed an appeal against Federal Bank" due to the "failure in pre-depositing the total amount." This is a significant setback for the company and highlights the…

The ITAT has "set aside an order for verification," as the "CITA held a property sale to a partner's son genuine but disallowed an indexed interest claim." This is a significant…

The Manipur High Court has "dismissed the revenue's appeal" in a "GM gold bar smuggling case," as the "value falls below the threshold limit." This is a significant setback for…

The CESTAT has ruled that "higher turnover in books of accounts can be considered for service tax liability, but only if the figures reflect the value of taxable services." This…