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The Ministry of Home Affairs reported in Parliament that Indians lost a staggering "₹22,845.73 crore to cyber criminals in 2024," a "206% surge" from ₹7,465.18 crore in 2023. The…
The Jammu & Kashmir High Court granted bail to an accused involved in dealing with an "illicit drug," considering the "medical condition of the accused." While the offense…
Fake ITC Input Tax Credit claims have surged by "29 percent to ₹15,851 crore in Q1 FY26," highlighting a significant challenge for GST authorities. This alarming increase…
Simpl, a BNPL Buy Now Pay Later firm, is under ED Enforcement Directorate lens for "₹913 crore FDI Foreign Direct Investment violations." The ED is investigating allegations that…
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 ITAT Income Tax Appellate Tribunal quashed a "₹1.13 crore additional demand," ruling that a "rectification order passed after Vivad Se Vishwas settlement is invalid." The…
The Telangana High Court dismissed a plea by the statutory auditors of Concord Drugs, ruling that "a writ cannot be invoked to challenge NFRA National Financial Reporting…
Karnataka's small traders are set to hold a "statewide bandh on July 25, protesting GST notices on UPI Unified Payments Interface transactions." The traders are aggrieved by tax…
In a significant relief for Genpact, the ITAT Income Tax Appellate Tribunal has allowed "Section 10AA deduction on interest from FDs Fixed Deposits and staff loans." Section 10AA…
The Delhi High Court rejected Bollywood actress Jacqueline Fernandez's plea to "quash a PMLA Prevention of Money Laundering Act case without trial." The actress had sought to have…
Milky Mist, a dairy company, reported "₹2,349 crore revenue in FY25," with its "profit jumping over 2.4 times." The company's revenue from operations grew by 29% from ₹1,822 crore…
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…
The Delhi High Court allowed an opportunity to reply on an SCN Show Cause Notice due to "duplication of GST order in the portal." The court observed that the tax department had…
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…
The Supreme Court of India upheld the "5% GST on flavoured milk," rejecting the Centre's plea for a 12% tax rate. The Centre argued for a higher rate, classifying flavoured milk…
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."…
CESTAT Customs, Excise, and Service Tax Appellate Tribunal dismissed Mittal Corp's appeal despite CIRP Corporate Insolvency Resolution Process proceedings, upholding excise duty…
IndiQube, a managed workspace provider, has successfully raised "₹374 crore approximately $44 million from anchor investors" ahead of its "₹700 crore IPO." The anchor book saw…
Paytm reported a revenue of "₹1,918 crore and a net profit of ₹123 crore in Q1 FY26." The fintech firm's unaudited quarterly report shows a 28% year-on-year increase in revenue…
The ITAT Income Tax Appellate Tribunal deleted penalties for "four assessment years," ruling that a "penalty is invalid if a specific charge under Section 270A is not mentioned in…
In a relief for BPL Ltd., CESTAT Customs, Excise, and Service Tax Appellate Tribunal ruled that a "payment received from JVA Joint Venture Agreement was pure reimbursement for…
The Allahabad High Court upheld the "validity of a GST notice uploaded in the common portal under Section 169 1 d of the CGST Act," dismissing a petition challenging it. The court…
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…
The ITAT Income Tax Appellate Tribunal has granted a "scrap dealer a second chance," ordering a "fresh hearing after a ₹3.84 crore tax dispute was dismissed without a merit…
The DGFT Directorate General of Foreign Trade has "extended the deadline on application for export of pharma-grade sugar." This extension provides additional time for exporters of…
The Allahabad High Court found a "prima facie case" of "wrongful invocation of GST Section 73 instead of Section 74," restraining "coercive recovery." The court noted that the tax…
The Central Government confirmed in Lok Sabha that "over 40,000 non-operational companies were struck off across India in the past three years." This significant action by the…
The Calcutta High Court remanded a case to the appellate authority, as the "assessee was unaware of Form GST DRC-01 SCN Show Cause Notice uploaded on the common portal under…
CESTAT Customs, Excise, and Service Tax Appellate Tribunal set aside a penalty imposed on a Customs Broker for "non-membership," as the broker obtained "association membership…
Muthoot Finance has received a "GST demand over a corporate guarantee" it provided. This indicates that tax authorities are scrutinizing transactions involving corporate…
The ITAT Income Tax Appellate Tribunal , Cochin bench, ruled in favor of a "Kerala Co-operative Bank," allowing a "₹16.5 lakh deduction under Section 80P" of the Income Tax Act.…
The Karnataka High Court "set aside an order passed without issuing notice," directing the department to "establish a system to ascertain delivery of e-mail notice." The court…
The Ministry of Finance confirmed in Lok Sabha that "India's external debt has risen 10% to $736.3 billion." This increase in the nation's external borrowings indicates growing…
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 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…
The CBDT Central Board of Direct Taxes has granted "income tax exemption to Andhra Pradesh and Puducherry Building and Other Construction Workers Welfare Board." This exemption,…
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 IFSCA International Financial Services Centres Authority has notified "new regulations for TechFin and ancillary services in IFSC." These regulations aim to establish a…
The CBIC Central Board of Indirect Taxes and Customs has issued an "important alert" regarding "fake GST violation notices," directing taxpayers to "report suspicious documents."…
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 Madras High Court ordered "reconsideration" after Customs incorrectly "classified animal feed as edible nuts," leading to an "onerous bank guarantee" for import. The court…
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 Madras High Court has directed Britannia Industries Limited to "approach the appellate authority" regarding a "GST classification dispute over flavoured milk." Britannia…
In a relief for SAIL Steel Authority of India Limited , CESTAT Customs, Excise, and Service Tax Appellate Tribunal held that "by-products are not liable under Rule 6 of CCR CENVAT…
The Ministry of Home Affairs reported in Parliament that Indians lost a staggering "₹22,845.73 crore to cyber criminals in 2024," a "206% surge" from ₹7,465.18 crore in 2023. The…
CoinDCX, a cryptocurrency exchange, experienced a "major cyberattack," resulting in the theft of "approximately $44 million ₹380 crore from one of its internal treasury accounts."…
Foxconn's Telangana plant, which manufactures Apple AirPods, is reportedly facing "rare earths shortage," impacting production. China's stepped-up restrictions on exports of rare…
Escape Plan, a new startup founded by ex-Perpule founders Abhinav Pathak and Abhinav Zutshi, has raised "$5 million ₹43.14 crore in seed funding." The travel accessories brand,…
Eternal, Zomato's parent company, saw its "shares jump 12% to ₹299," hitting a "2025 peak," driven by "70% year-on-year revenue growth in Q1," primarily from Blinkit's robust…
Milky Mist Dairy Food has filed its Draft Red Herring Prospectus DRHP for a "₹2,035 crore IPO," with a fresh issue of "₹1,785 crore and an offer-for-sale of ₹250 crore by…
The Ministry of Home Affairs reported in Parliament that Indians lost a staggering "₹22,845.73 crore to cyber criminals in 2024," a "206% surge" from ₹7,465.18 crore in 2023. The…
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