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The ITAT has upheld a CITA deletion, ruling that a ₹4.24 crore receipt from a brother, which was treated as an "unexplained cash credit," was legitimate due to sufficient…
The GST Council is likely to approve a "5 percent and 18 percent two-slab structure," with big reforms coming by Diwali. The reforms, which are aimed at simplifying the tax…
PM Modi has announced "next-gen GST reforms" to boost the economy and ease of living. The reforms, which are expected to be implemented by Diwali, will simplify the tax structure,…
The Bombay High Court, in the Mahindra case, has ruled that an "AO cannot go beyond the net profit in a P&L," except as permitted under the Explanation to Section 115J. The…
The ITAT has ruled that "search assessments are valid" as they were "approved by the JCIT," and that "additions were made based on incriminating materials." The tribunal's…
The ITAT has ruled on a "demonetization cash deposit" by a retired IAS officer, cutting an addition of ₹40 lakh and applying tax under Section 115BBE. The tribunal's decision…
The Madras High Court has ruled that an "assessee's statement on the date of receipt of an order prevails" when there is no "acknowledgment or returned cover from the customs…
The Bombay High Court, in the Mahindra case, has ruled that an "expenditure on a subsidiary for commercial expediency" is "allowable as a business deduction." The court's decision…
The government has clarified a ₹75,000 standard deduction under the new tax regime in the Income Tax Bill, 2025. The bill, which is aimed at modernizing the tax system and…
GAIL has been hit with a "₹21.83 lakh customs penalty and fine" over the "denial of a concessional duty on imports." The penalty, which was imposed by the Joint Commissioner of…
The CCI has closed a "decade-old complaint" without direct evidence, in a "coal mine auction cartelization case" against Adani, Aditya Birla, and Vedanta. The commission's…
The Gujarat High Court has ruled that a "transfer or assignment of leasehold rights" of industrial plots is "not a taxable supply under GST." The court's decision provides a…
The Kerala High Court has ruled that IGST credit in an electronic ledger can be used for CGST and SGST liabilities and vice versa. The court's decision provides much-needed…
The CESTAT has upheld a penalty for "excise duty evasion and fraudulent CENVAT credit availment." The tribunal found that the company had deliberately evaded excise duty and had…
The Chhattisgarh High Court has ruled that "no recovery of an outstanding GST demand" can be made once a "pre-deposit is made and an undertaking is filed," pending the setup of a…
The Andhra Pradesh High Court has ruled that a "GST refund on ocean freight cannot be denied on limitation grounds" in the Louis Dreyfus case. The court's decision provides a…
The Supreme Court is set to examine the "jurisdiction of police with respect to GST authorities to detain goods in transit." The court's decision highlights the importance of the…
The Bombay High Court has ruled that "factual correlation of seized material must be done by authorities" and that a "court cannot step into the AO's role." The court's decision…
The Calcutta High Court has allowed the "physical filing of Forms 1 & 2 within time," permitting the "availing of the DTVsV Scheme, 2024," and has "condoned the department's…
The NCLT has directed "liquidation under Section 33 of the IBC" in the "absence of a resolution plan," even after extending the time period. The tribunal's decision provides a…
The ITAT has upheld the deletion of a "₹59.11 lakh income tax demand on franchise payments," ruling that "no TDS is required under Section 194J." The tribunal's decision provides…
The Delhi High Court has ruled that "WAPs with only MIMO or only LTE" are "eligible for a BCD exemption" under a customs notification before a 2021 amendment. The court's decision…
The Supreme Court has ruled that the "renewal or a second provisional attachment" under the CGST Act is "not permissible beyond one year." The court's decision clarifies a crucial…
The Delhi High Court has ruled that "trading in land and immovable property without a fixed remuneration" does not attract service tax, providing relief to a trust. The court's…
The NCLT has admitted an insolvency application, ruling that "provisions of a moratorium are not applicable to transactions that might be notified by the Central Government." The…
The ITAT has remanded a matter back to an AO for the "determination of a fair market value valuation in a distress sale." The tribunal's decision clarifies a crucial aspect of tax…
The NCLT has directed the "liquidation of J.M. Feed Pvt. Ltd." upon satisfying the conditions under Section 33 of the IBC and has "appointed a liquidator." The tribunal's decision…
The Income Tax Department has responded to a "glitch in ITR 3 filing over LTCG rates" that is "raising validation errors." The department has acknowledged the technical glitch and…
The Kerala High Court has quashed an ITAT order, ruling that the tribunal "wrongly dismissed a stay petition on a 20% pre-deposit condition" that had already been removed by the…
The NCLT has admitted an "IBC plea against Palchan Bhang Power" for "default in repaying ₹5.7 crore over a 10-year interest-free period." The tribunal's decision provides a…
The DRT has directed a financial creditor to admit an "application filed under Section 126 1 of the IBC." The tribunal's decision clarifies a key procedural aspect of the IBC. The…
The Bombay High Court has quashed a tax notice to a wife in a "₹6.75 crore Mumbai property case." The court's decision provides a significant victory for the woman. The ruling…
The Income Tax Department is probing a "CSR-linked suspected money laundering network." The department is investigating a complex network of shell companies and non-profit…
The CBDT has amended Form No. 7 to include both the "assessment year and a block period," effective from September 1, 2025. This amendment is part of the ongoing efforts to…
The Delhi High Court has ruled that "CCTV footage must be preserved immediately after seizure complaints at an airport" in a "250g gold kada case." The court's decision provides a…
The Madras High Court has directed the CESTAT to "consider precedents cited by BenQ India" while entertaining an appeal on the "classification of goods." The court's decision…
The Delhi High Court has ruled that the "timeline for filing a statement of defence" under Rule 18.3 of the Indian Council of Arbitration Rules is "directory in nature." The…
Rainmatter Capital-backed Age Care Labs is set to kick off a "Series B round." The funding is a significant boost for the company and signals a strong investor interest in the…
The NCLAT has set aside an NCLT order, ruling that the order "lacked reasons or analysis" despite a heading to the contrary. The tribunal's decision clarifies a key procedural…
The Jammu and Kashmir High Court has quashed an FIR, ruling that a "contractual dispute" should not be treated as a criminal offense. The court's decision provides a significant…
EDME Insurance Brokers has acquired UIB Insurance to strengthen its "reinsurance business." The acquisition is a significant strategic move, aimed at consolidating EDME's position…
The government has announced that "three more nano-urea plants will be set up by PSUs and fertiliser firms." The move, which is aimed at boosting domestic production of…
Toothsi's parent company, MakeO, has acquired Apple Dental for ₹11 crore. The acquisition is a significant strategic move, aimed at consolidating MakeO's position in the…
Zoomcar's loss has "zoomed 66% YoY to $4.2 million" in the June quarter. The company's financial performance is a significant development, highlighting the challenges faced by the…
Darwinbox has raised $40 million in a new funding round. The funding is a significant boost for the company and signals a strong investor interest in the HR-tech sector. The…
Zostel has filed an appeal in the Delhi High Court against the "quashing of an arbitral award in a dispute with Oyo." The company is seeking to overturn a previous court order…
The Delhi High Court has granted "interim relief to Hero MotoCorp" in a trademark case over "Destiny" electric scooters. The court's decision provides a significant victory for…
The Supreme Court has laid down "guidelines to prevent parallel adjudication by Central and State GST authorities." The court's decision provides much-needed clarity on the…
The Jharkhand High Court has ruled that a "Civil Judge Senior Division has jurisdiction to try a trademark infringement suit" valued between ₹3 lakh and ₹1 crore. The court's…
The Allahabad High Court has quashed an FIR, ruling that "filing a complaint under Section 31 of the Domestic Violence Act" is a valid ground for a criminal charge. The court's…
The ITAT has upheld a CITA deletion, ruling that a ₹4.24 crore receipt from a brother, which was treated as an "unexplained cash credit," was legitimate due to sufficient…
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