News & Judgements

The government has "green-flagged the scrapping of 12% and 18% GST slabs." The proposal, which is a significant step towards a more user-friendly and less intrusive tax…

Dream Sports' valuation is expected to plummet due to a new law banning real money gaming, according to CEO Harsh Jain. The company, which owns the fantasy sports platform…

The All India Consumer Products Distributors Federation AICPDF has written a letter to the Finance Minister seeking clarity on the transition of GST rates. The association has…

The Group of Ministers GoM on GST rate rationalization has endorsed a proposal to reduce the number of GST slabs from four to two. The proposed structure would eliminate the 12%…

The ITAT has remitted a case back to the Assessing Officer AO after an individual failed to prove that cash deposits were "land sale proceeds by his father." The tribunal's…

The Enforcement Directorate ED has arrested a Chartered Accountant, Sharad Chandra Toshniwal, in connection with the ₹792 crore Falcon Invoice Discounting scam. The scam,…

The Madras High Court has upheld an Assessing Officer's AO order, ruling that the revisionary power under Section 263 of the Income Tax Act can be invoked only in cases of "lack…

The ITAT has ruled that a charitable institution is free to use its accumulated income for up to five years without first exhausting its current year's income. The tribunal's…

The ITAT has deleted a penalty of ₹96,010 on an alleged "bogus brick payment" after the department confirmed there were no pending supplies. The tribunal's decision provides a…

The Kerala High Court has ruled that denying property tax exemption to unaided schools is not a violation of Article 14 of the Indian Constitution. The court's decision provides a…

The Rajasthan High Court has upheld the insertion of a new tax category for sleeper buses in the state motor vehicle tax rules. The court's decision provides a significant victory…

The ITAT has deleted a disallowance made by an Assessing Officer AO who failed to undertake an independent inquiry under Section 133 6 of the Income Tax Act. The tribunal's…

The ITAT has ruled that a "brought-forward business loss cannot be set off against short-term capital gains under Section 50 of the Income Tax Act." The tribunal's decision…

The Madras High Court has ruled that the "6-year limitation period under Section 153C commences from the date of material handover to the AO," not the date of search or notice.…

The Madras High Court has ruled that a "prosecution under Section 276C 1 is not valid when penalty proceedings on the same facts have been quashed." The court's decision provides…

The Supreme Court has reaffirmed the "illegality of cash seizures in GST search operations." The court's decision, which is a significant victory for the taxpayer, was made on the…

GST rate cuts are expected to "cost the exchequer ₹1.43 lakh crore," and "US tariffs threaten growth." The GST rate cuts, which are a significant step towards a more user-friendly…

A "GST exemption on health and life insurance" has been proposed, but experts have flagged "ITC concerns." The proposal, which is aimed at making insurance more accessible to the…

The CAPSI, in a letter to PM Modi, has stated that the "GST burden on private security firms is unjust." The association has argued that the 18% GST rate is a major challenge for…

The GoM has backed a "two-slab GST structure" and has proposed a "40% rate on luxury and sin goods." The proposal, which is a significant step towards a more user-friendly and…

A "GST rate cut proposal" has raised "Centre-State tensions over revenue." The proposal, which is a significant step towards a more user-friendly and less intrusive tax…

A GST fraud worth ₹47.32 crore has been unearthed in Thane, and one person has been arrested. The fraud, which was detected using internally developed intelligence and data…

The Delhi High Court has ruled that "Yatra" is a "generic word" and "can't be monopolized" in a trademark case. The court's decision provides a significant victory for the…

The NCLAT has dismissed a plea against "Nuvoco's Vadraj acquisition," upholding the NCLT's approval of the ₹1,800 crore resolution plan. The tribunal's decision clarifies a key…

BharatPe has received its "RBI license" to operate as an "online payment aggregator" and will now "double down on online payments." The company's decision is a crucial reminder to…

The appointment of the "HP RERA chief" has been challenged in court. A petition has been filed in the Himachal Pradesh High Court, alleging that the appointment was made in…

Nexstar has purchased its rival broadcast company, Tegna, in a $6.2 billion deal. The acquisition, which is aimed at consolidating the industry, is a significant step towards a…

The Arunachal Pradesh government has announced that it will provide "health insurance cover of ₹5 lakh" to the families of its "retired employees." The scheme is aimed at…

The GST Council is reportedly considering an "input tax credit" on "corporate insurance" premiums. The proposal is aimed at making insurance more accessible to the public and is a…

Ultrahuman, an Indian health wearables startup, has sued its Finnish rival Oura Health for alleged "smart ring patent infringement." This legal action comes after Oura had…

Amazon is reportedly lobbying the Indian government to exempt exports from foreign direct investment FDI restrictions. The company is seeking to be able to buy products directly…

Cars24, a leading used car platform, has raised ₹345 crore from its Singapore-based parent entity. The funding injection is expected to fuel the company's growth and expansion…

Used two-wheeler marketplace Beepkart has ceased operations after a nearly five-year run. The Bengaluru-based company confirmed the closure on its website and is reportedly…

Dream11's parent company has launched a new wealth management app called "Dream Money," marking its entry into the fintech space. The app offers features like gold investments and…

The Kerala High Court has ordered the transfer of a family court judge following allegations of sexual impropriety. The administrative decision was made after a woman litigant…

The Delhi High Court has ordered the blocking of "Sci-Hub" and "Sci-Net" in a "copyright infringement case." The court's decision provides a significant victory for the…

The Rajasthan High Court has dismissed a plea against the "motor vehicles tax on a sleeper bus." The court's decision provides a significant victory for the government. The ruling…

The Madras High Court has ruled that a "Commissioner cannot revise an assessment merely because detailed reasoning was not given in the order." The court's decision provides a…

The ED has arrested a "Chartered Accountant" in the "Falcon Invoice Discounting scam." The arrest is a significant step towards a more transparent and less intrusive tax…

The NCLT has accepted an insolvency petition, ruling that "vague allegations of defective goods" do not constitute a "pre-existing dispute." The tribunal's decision clarifies a…

The NCLT has ruled that "documentary evidence" like "court or board nominee orders" and "bank statements" are "sufficient to establish a default date," even without "IU records."…

The Madras High Court has condoned a "108-day delay" in filing an appeal after the taxpayer pursued a "rectification petition" first. The court's decision provides a significant…

The Madras High Court has ruled that "filing Form 67 before a final income assessment is sufficient compliance," holding that "Rule 128 is directory, not mandatory." The court's…

The CESTAT has held that "innocent buyers cannot be denied DEPBs benefits" for "fraudulently obtained licenses" unless canceled by the DGFT. The tribunal's decision provides a…

The CESTAT has quashed a "demand of service tax on ocean freight," providing relief to "Polycab Wires." The tribunal's decision provides a significant victory for the company. The…

The ITAT has directed a "re-adjudication" against "Schneider Electric India Pvt Ltd," citing a "failure to consider the benefit of a working capital adjustment while computing…

The Centre has granted "income tax exemptions" to the "Credit Guarantee Fund Trust for Animal Husbandry" and the "Karnataka Construction Workers' Welfare Board." The exemptions,…

The Punjab and Haryana High Court has granted bail to an "Income Tax Officer" in a bribery case, clarifying that a "direct bail plea is maintainable in exceptional circumstances."…

The ITAT has upheld a "revision under Section 263," ruling that the assessment was "erroneous and prejudicial to revenue" as the "AO failed to enquire into ₹90.89 lakh payments."…

The Delhi High Court has ruled that "lawyers are not bound to verify the truth of a client's case before representation." The court's decision clarifies a key procedural aspect of…