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The government has revealed that while tax demands under the Black Money Undisclosed Foreign Income and Assets and Imposition of Tax Act amounted to ₹35,105 crore, only ₹338 crore…
India collected ₹437 crore in taxes from cryptocurrency and other Virtual Digital Asset VDA transactions in Financial Year 2023-24. This figure marks a significant increase from…
The Madras High Court has directed Britannia Industries Limited to "approach the appellate authority" regarding a "GST classification dispute over flavoured milk." Britannia…
Angel One, a leading fintech platform, has partnered with Singapore's LivWell backed by Olympus Capital to launch a digital-first life insurance company in India. This joint…
Supply chain solutions provider LEAP India is converting into a public entity and has appointed an independent director. This move indicates a significant step towards greater…
Enlite, a Mumbai-based full-stack infra automation startup, has successfully raised ₹46 crore approximately $5 million in its maiden institutional funding round. The Series A…
Kerala-based chip startup Netrasemi has secured ₹107 crore in Series A funding from Zoho Corporation and Unicorn India Ventures. The company specializes in developing integrated…
The J&K High Court ruled that "grave economic offense alone is not enough to invoke Section 111 of BNS Bharatiya Nyaya Sanhita ," requiring "prior charge sheets in activities of…
The Punjab and Haryana High Court directed "fresh adjudication," ruling that a "delay of 4 months in filing a GST appeal cannot be rejected merely on the ground of time-barred."…
The ITAT rejected a "cable operator's plea" and upheld a "₹5.2 lakh income addition from seized records." During a search operation, seized diaries and notebooks revealed…
The Supreme Court has ruled that the "Limitation Act does not apply to conciliation proceedings" under Section 18 2 of the MSMED Act, allowing "conciliation of time-barred…
Google has appealed to the Supreme Court against a March 2025 NCLAT National Company Law Appellate Tribunal ruling that largely upheld the Competition Commission of India's CCI…
Ohm Mobility, an EV financing and leasing startup, has ceased operations after failing to achieve a scalable business model. Founded in 2020, the company aimed to connect EV fleet…
The Calcutta High Court upheld an "arbitral award in favor of Sourav Ganguly" concerning a "management agency's termination of a player representation agreement." The dispute…
Tata Digital's overall turnover saw a 14% decrease in FY25, reflecting a challenging year for some of its key ventures. Despite this, Tata 1mg, the healthcare arm, showed robust…
BigBasket, the e-grocery platform backed by Tata Digital, experienced a decline in its FY25 revenue, largely due to intense competition from quick commerce rivals like Blinkit,…
The CBDT Central Board of Direct Taxes has granted "income tax exemption to Moradabad Development Authority under Section 10 46A ." This exemption, effective from Assessment Year…
The ITAT Income Tax Appellate Tribunal has slammed the CPC Centralized Processing Centre for "erroneous disallowance of HRA House Rent Allowance exemption for salaried employees."…
Muthoot Finance has received a "GST demand over a corporate guarantee" it provided. This indicates that tax authorities are scrutinizing transactions involving corporate…
The National Securities Depository Limited NSDL IPO, valued at ₹16,000 crore, is set to open for public subscription on July 30 and close on August 1. This ₹4,000 crore issue is…
The Maharashtra government plans to provide official identity cards and an accident insurance cover of ₹10 lakh to registered snake rescuers. Revenue Minister Chandrashekhar…
The Reserve Bank of India RBI saw "tepid demand" at its overnight Variable Rate Reverse Repo VRR auction, ahead of a significant ₹2 trillion reversal scheduled for Friday. This…
CESTAT Customs, Excise, and Service Tax Appellate Tribunal ruled that "electronic data without Section 36B certification and statements without Section 9D compliance cannot be…
CESTAT Customs, Excise, and Service Tax Appellate Tribunal quashed a service tax demand, ruling that the "Jharkhand Agricultural Marketing Board is not a service provider but…
SEBI Securities and Exchange Board of India has released "FAQs Frequently Asked Questions on Research Analyst Regulations and Compliance Norms." This initiative aims to provide…
Myntra has been booked by the ED Enforcement Directorate over a "₹1,654 crore FDI Foreign Direct Investment violation case." The investigation focuses on allegations that the…
Lifestyle Equities has challenged the "stay on a ₹340 crore arbitration award against Amazon before the Supreme Court." The dispute stems from an arbitration award granted in…
The CBIC Central Board of Indirect Taxes and Customs has issued a circular clarifying "review, revision, and appeal authorities for CAA Commissioner Appeals orders" concerning…
Myntra has been booked by the ED Enforcement Directorate over a "₹1,654 crore FDI Foreign Direct Investment violation case." The investigation focuses on allegations that the…
The Madras High Court ruled that "bunching is impermissible under the GST Act," stating that "SCN Show Cause Notice can be issued based on monthly returns if annual filing is…
CESTAT Customs, Excise, and Service Tax Appellate Tribunal denied Customs Duty exemption for "crude shea butter with high FFA Free Fatty Acids ," ruling it "not edible grade." The…
CESTAT Customs, Excise, and Service Tax Appellate Tribunal ruled that "free material supplied by NTPC for maintenance services cannot be included in gross value for service tax…
Shadowfax, a logistics and delivery startup, is set to raise "₹2,000 crore via an IPO Initial Public Offering ," comprising a "fresh issue and offer-for-sale OFS of ₹1,000 crore…
KickCash, a rewarded UA User Acquisition space startup, has "crossed $1 million ARR Annual Recurring Revenue in India" and is now "eyeing the rewarded UA space in developed…
Angel One, a leading fintech platform, has partnered with Singapore's LivWell backed by Olympus Capital to launch a digital-first life insurance company in India. This joint…
The Calcutta High Court commuted the death sentences of two convicts in a "rape and murder case of a 5-year-old girl," citing their "mental health issues and socio-economic…
The ITAT Income Tax Appellate Tribunal set aside a "penalty under Section 271 1 c " imposed "during the pendency of a quantum appeal," terming it "premature." Section 271 1 c…
The ITAT Income Tax Appellate Tribunal directed the AO Assessing Officer to delete a "penalty under Section 271D" imposed for a "cash transaction in the wrong AY Assessment Year…
The ITAT Income Tax Appellate Tribunal ruled that "income addition based on third-party disclosure without evidence is not sustainable." The tribunal set aside an income addition…
The Kerala High Court is examining a plea concerning "Veena S. George, CM's daughter, and allegations of corporate fraud involving CMRL Cochin Minerals and Rutile Limited and…
Supply chain solutions provider LEAP India is converting into a public entity and has appointed an independent director. This move indicates a significant step towards greater…
Google has appealed to the Supreme Court against a March 2025 NCLAT National Company Law Appellate Tribunal ruling that largely upheld the Competition Commission of India's CCI…
BigBasket, the e-grocery platform backed by Tata Digital, experienced a decline in its FY25 revenue, largely due to intense competition from quick commerce rivals like Blinkit,…
The ITAT Income Tax Appellate Tribunal ruled that "income estimation is invalid without invoking Section 145 and rejecting books of account." Section 145 allows the Assessing…
In a relief for TTK Prestige, CESTAT Customs, Excise, and Service Tax Appellate Tribunal allowed "CENVAT Credit on ISD Input Service Distributor invoices for business-related…
CESTAT Customs, Excise, and Service Tax Appellate Tribunal quashed a "CENVAT Credit demand and penalty," ruling that "trading was not an exempted service before 2011." The…
CESTAT Customs, Excise, and Service Tax Appellate Tribunal set aside an order rejecting a "SAD Special Additional Duty refund for a missing period in a CA certificate," remanding…
The Bombay High Court has directed the "Maharashtra RERA Real Estate Regulatory Authority to restore the physical hearing option." The court observed that while digital hearings…
The National Securities Depository Limited NSDL IPO, valued at ₹16,000 crore, is set to open for public subscription on July 30 and close on August 1. This ₹4,000 crore issue is…
The ITAT Income Tax Appellate Tribunal denied immunity from penalty, stating that the "application under Section 270AA was not filed in the prescribed format." Section 270AA…
The government has revealed that while tax demands under the Black Money Undisclosed Foreign Income and Assets and Imposition of Tax Act amounted to ₹35,105 crore, only ₹338 crore…
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