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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."…
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 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…
CESTAT Customs, Excise, and Service Tax Appellate Tribunal limited a demand for "cargo handling" service tax to the normal period and set aside penalties, for "work involving…
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 ITAT Income Tax Appellate Tribunal remanded a ₹2.87 lakh "unexplained cash deposit addition under Section 69A to CITA Commissioner of Income Tax - Appeals ," citing…
The ITAT Income Tax Appellate Tribunal ruled that a "discretionary trust created under a deceased's will is not liable to income tax at the maximum marginal rate under Section…
The NCDRC National Consumer Disputes Redressal Commission ruled that "10% forfeiture of earnest money is reasonable in default of payment cases." The commission clarified that if…
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,…
IdeaForge, a drone manufacturer, reported an "85% nosedive in revenue to ₹12.78 crore in Q1 FY26," incurring a net loss of "₹21.7 crore." This sharp decline is attributed to a…
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…
The ITAT Income Tax Appellate Tribunal directed the approval under Section 80G for a "charitable educational trust," finding that the CIT E erred in denying it despite granting…
The Karnataka High Court directed the grant of bail for an offense under "Section 4 of PMLA Prevention of Money Laundering Act upon execution of a personal bond." This significant…
The Calcutta High Court set aside a GST registration cancellation order, finding that "existence of premises" negated fraud and suppression of facts. The GST registration was…
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…
A Mumbai trader has been arrested in connection with a "₹10 crore GST scam involving a fake cement firm." The individual allegedly used a bogus company to generate fraudulent…
The Kerala High Court granted "regular bail to a police official accused of demanding a ₹2,000 bribe." The Senior Civil Police Officer was arrested under the Prevention of…
The Income Tax Appellate Tribunal ITAT rejected the Congress Party's appeal to exempt "₹199.15 crore" from income tax, citing "belated filing of return" and violation of cash…
The NCLT Chandigarh ruled that an "allottee does not cease to be a financial creditor on the ground of being a speculative investor." The tribunal clarified that under the…
Experts, reviewing the Income Tax Bill, advocate that "tax audit must remain a CA-only function." This strong recommendation from tax professionals emphasizes the specialized…
The Lok Sabha Select Committee has submitted "key recommendations on the Income Tax Bill 2025," signaling potential significant reforms to India's direct tax regime. These…
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…
The GST Department has apprehended a "key accused in a ₹10 crore ITC Input Tax Credit scam in Vikhroli," Mumbai. This arrest is part of an ongoing crackdown against fraudulent GST…
The CBDT Central Board of Direct Taxes has relaxed TDS Tax Deducted at Source and TCS Tax Collected at Source norms for "inoperative PANs linked with Aadhaar." This move provides…
The Allahabad High Court quashed a penalty and directed a refund with 4% interest, ruling that a "clerical error in an e-way bill is not tax evasion." The court observed that a…
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 Madras High Court has ordered Customs to "decide representation promptly," as "no SCN Show Cause Notice was issued post seizure of goods." The court observed that goods were…
The ITAT Income Tax Appellate Tribunal remanded a ₹2.87 lakh "unexplained cash deposit addition under Section 69A to CITA Commissioner of Income Tax - Appeals ," citing…
The Income Tax Appellate Tribunal ITAT rejected Congress' appeal against a "₹199 crore tax assessment," reiterating its earlier stance. The assessment was upheld primarily due to…
The NCLAT National Company Law Appellate Tribunal allowed "CIRP Corporate Insolvency Resolution Process withdrawal after lenders agreed to a government-backed revival plan." This…
The Allahabad High Court quashed a penalty and directed a refund with 4% interest, ruling that a "clerical error in an e-way bill is not tax evasion." The court observed that a…
The PMLA Appellate Tribunal has confirmed the Enforcement Directorate's ED attachment of "Chanda Kochhar's assets in the Videocon loan case." The tribunal found a "prima facie…
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 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…
CESTAT Customs, Excise, and Service Tax Appellate Tribunal set aside an order denying CENVAT credit for "non-manufacture activity," ruling that "duty was paid on all goods." The…
The Delhi State Commission dismissed a complaint against Volvo India and its dealer, stating that a "car manufacturing defect must be proved by an expert report." The commission…
The Madras High Court declined the "immediate return" of a "Malaysian national's ₹4 lakh Indian currency seized," ordering Customs to "follow due process in 8 weeks." The court…
The Punjab and Haryana High Court commuted the death penalty of a man who "raped his minor daughter to 30 years imprisonment." While upholding the conviction for the heinous…
The Orissa High Court acquitted two individuals in a "2017 triple murder case," setting aside their death sentences. The court found insufficient evidence to uphold the…
The Himachal Pradesh High Court ruled that an "insurance company cannot deny compensation citing invalid employer-employee relationship between family members without evidence."…
The NCLAT National Company Law Appellate Tribunal has refused to "recall a dismissal order," stating "no grounds for reassessment." The tribunal found that the applicant failed to…
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…
The Madras High Court allowed an assessee "liberty to file a GST appeal despite delay," finding that "admitted liability auto-selection on the GST portal misled the assessee." The…
The CBDT Central Board of Direct Taxes has relaxed TDS Tax Deducted at Source and TCS Tax Collected at Source norms for "inoperative PANs linked with Aadhaar." This move provides…
The NCDRC National Consumer Disputes Redressal Commission ruled that "10% forfeiture of earnest money is reasonable in default of payment cases." The commission clarified that if…
The Karnataka High Court ruled that Bengaluru's "Century Club is a public authority under the Right to Information RTI Act." The court's decision is based on the fact that the…
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 GST Department has apprehended a "key accused in a ₹10 crore ITC Input Tax Credit scam in Vikhroli," Mumbai. This arrest is part of an ongoing crackdown against fraudulent GST…
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…
Composio, an agentic AI startup, has raised "$25 million in Series A funding led by Lightspeed Venture Partners." The round saw participation from various other investors,…
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."…
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