A major scam has been uncovered in Pune where a group of tax professionals have been booked for their alleged involvement in a ₹500 crore bogus Income Tax Return ITR deduction…
12/09/20251 min read
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A major scam has been uncovered in Pune where a group of tax professionals have been booked for their alleged involvement in a ₹500 crore bogus Income Tax Return ITR deduction…
The recent GST rate cuts are poised to significantly transform India's pharmaceutical industry by making life-saving drugs more affordable. The GST Council's decision to slash…
According to a report by the credit rating agency ICRA, the non-banking financial companies' NBFC loan book in India is projected to expand by 15-17% in FY26. This positive…
Mintifi's FY25 profit has "surged 56% to ₹145 crore." This is a significant setback for the company and highlights the challenging business environment it faces. The move is a…
Urban Company's IPO issue has been oversubscribed 4.8x on Day 2. This indicates strong investor confidence in the company's growth prospects. The move is a significant step…
PhonePe has initiated an ESOP buyback worth ₹800 crore. This move provides employees with an opportunity to monetize their stock options and also serves as a talent retention…
D2C cookware brand Ember has raised $3.2 million. This funding will be used to enhance the company's product portfolio and expand its market reach. The move is a significant step…
Q-comm startup Inamo has raised "$3 million to expand its dark store network." This is a significant move for the company, as it aims to strengthen its position in the commercial…
Due to the "real-money gaming ban," Zupee has "joined its peers" and "axed 170 jobs." This is a significant setback for the company and highlights the challenging business…
Electric mobility startup Snap-E Cabs has raised "$2.5 million to expand its footprint." This is a significant move for the company, as it aims to strengthen its position in the…
Bacalt has raised "₹1.8 crore to make biopolymers from agricultural waste." This is a significant move for the company, as it aims to strengthen its position in the commercial…
Eruditus has secured "$150 million in refinancing" amid a "dry edtech funding environment." This is a significant move for the company, as it faces a challenging business…
Smytten has "cut losses by 41% in FY25," but its "revenue slips to ₹111 crore." This is a significant setback for the company and highlights the challenging business environment…
Fintech startup GrowXCD is set to "raise ₹200 crore in its Series B" funding round. This is a significant move for the company, as it aims to strengthen its position in the…
The Madhya Pradesh High Court is set to "examine the legality of ads and celebrity endorsements promoting legal services." This is a significant move for the company, as it faces…
Patanjali has challenged a Delhi High Court order to "delete parts of its Chyawanprash ad campaign." This is a significant setback for the company and highlights the challenging…
The Bombay High Court has ruled that an "arbitral seat clause in a contract is irrelevant when arbitration is under the MSME Act." This is a significant victory for the company,…
A Bengaluru woman has lost ₹3.75 crore after "falling for an AI-generated deepfake video of Sadhguru." This is a significant setback for the company and highlights the challenging…
The Delhi High Court has ruled that a "wife's claim for interim maintenance cannot be turned down merely because she is educated or earning." This decision highlights the…
The Kerala High Court has stayed PMLA proceedings against cross-border payment platform Nium in the "Chinese loan app scam." This is a significant victory for the company, as it…
The Kerala High Court has ruled that a "magistrate court cannot post a case judgment without issuing a copy of the dismissal order." The court's decision, which is a significant…
Due to the "RMG ban," Zupee is set to "cut 170 jobs." This is a significant setback for the company and highlights the challenging business environment it faces. The move is a…
The Punjab and Haryana High Court has rejected former MLA Dharam Singh Chokker's plea challenging his arrest by the ED under PMLA. This is a significant setback for the company…
The Delhi High Court has ruled that employee contributions must be paid by the due date under labor laws, not the Income Tax Act. This is a significant move for the company, as it…
The NCLAT has ruled that an "application under Section 7 of the IBC can be filed against multiple corporate debtors forming part of the same project." This is a significant ruling…
The Delhi High Court has ruled that a "loan agreement and deeds of guarantee form part of a single composite transaction," and that the "arbitration clause in the loan agreement…
The Orissa High Court has ruled that "Clause 18 of the Vivad Se Vishwas II Scheme is mandatory in nature" and that a "procuring agency cannot reject a claim if it satisfies the…
The Madras High Court has restored Hyundai Mobis's appeal before the CESTAT, condoning a 3-day delay due to an "employee's chickenpox leave." This decision highlights the…
The Madras High Court has allowed a "dealer's GST ITC" due to a delay in filing GSTR-B caused by "COVID, health ailment, and fire," citing a prior ruling. This is a significant…
The Income Tax Department has sent a "₹3,000 crore tax notice to Madhya Pradesh." The move is a significant step towards a more user-friendly and less intrusive tax environment,…
The Karnataka High Court has upheld a CESTAT ruling in favor of J.K. Tyre Industries, ruling that "Section 12B of the Central Excise Act and Rule 7 are inapplicable when a…
The MCA has issued a reminder for "OPCs to file Form AOC-4 before this due date." The move is a significant step towards a more user-friendly and less intrusive business…
The Karnataka High Court has upheld an ITAT ruling that "classified Toyota Tsusho India Pvt Ltd as not a wholesale trader." The court's decision, which is a significant victory…
The Delhi High Court has "restricted the reinstating of the suspension of a CBL" due to "violation of CBLR," citing the "principle of proportionality." This decision highlights…
The ITAT has ruled that a "belated return is not a bar on the carry forward of depreciation" and has "confirmed ₹238 crore as unabsorbed depreciation." This decision provides a…
The ITAT has ruled that a "deduction under Section 80P 2 d is confined to co-operative bank deposits," and that "RRB interest is treated separately with an expense adjustment…
The Supreme Court has deferred its verdict on Vodafone's "₹1,200 crore income tax deduction claim." The court's decision, which is a significant victory for the government, was…
The Securities and Exchange Board of India SEBI has revised "angel fund regulations," making "accredited investors mandatory" and capping the "investment at ₹25 crore." The move…
The Consumer Affairs Ministry has allowed manufacturers to "display the new GST-slashed MRP on unsold goods" and has "set a date to clear the stock." This is a significant move…
The ITAT has ruled that once a "corporate debtor is sold as a going concern," only the "claims filed before the liquidator survive," and has directed the AO to "re-examine the…
The NCLAT has ruled that an "application under Section 7 of the IBC cannot be barred merely because of the pending consideration of an OTS" One-Time Settlement before lenders.…
The Institute of Chartered Accountants of India ICAI has requested an extension for the income tax audit report due date. The request cites complexities and operational challenges…
The Securities and Exchange Board of India SEBI has introduced a new co-investment framework for Alternative Investment Funds AIFs through Co-Investment Vehicle CIV schemes. This…
The NCLT has ruled that "unconditional consent by a sole financial creditor is sufficient for the withdrawal of CIRP regulations." This decision is a crucial reminder to all that…
The ITAT has ruled that "shares held for 33 months, sold on a recognized exchange," and with "STT duly paid," cannot be considered "bogus LTCG under Section 68," rejecting the…
The CESTAT has ruled that "consultancy services delivered outside India do not attract service tax liability," noting that the "correlation of FIRC's and invoices is procedural."…
In a relief for SBI, the NCLT has ruled that "lease dues incurred during CIRP prior to the vesting date are payable to the financial creditor." This decision clarifies the legal…
The Madras High Court has ruled that the "GST department must issue separate notices for each financial year," and has "struck down bunched notices for 2018-2024." This decision…
The Madras High Court has ruled that "Section 173 5 Cr.P.C. is not applicable to Central Excise prosecutions based on a private complaint." This decision is a crucial reminder to…
The Chhattisgarh High Court has ruled that "electricity supplied to a township" is "not in the course or furtherance of business," so "no ITC is allowed." This decision clarifies…
A major scam has been uncovered in Pune where a group of tax professionals have been booked for their alleged involvement in a ₹500 crore bogus Income Tax Return ITR deduction…
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