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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 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 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…
In a relief for Indigo, the ITAT Income Tax Appellate Tribunal upheld the deletion of a "₹11.05 crore disallowance under Section 37," as the AO's Assessing Officer "final…
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 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 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…
The NCLT Guwahati ruled that "prior approval of the adjudicating authority before initiating legal proceedings against any party under Section 33 5 is mandatory." Section 33 5 of…
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…
The NCLT Chandigarh, exercising its "inherent power" under "Rule 11 of NCLT Rules, 2016," permitted the "withdrawal of voluntary liquidation despite the absence of a specific…
The Bombay High Court has directed the "GST Council and GST Network to develop a mechanism for cross-state ITC Input Tax Credit transfer in mergers/amalgamations." The court…
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 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 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 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 Himachal Pradesh High Court ruled that an "insurance company cannot deny compensation citing invalid employer-employee relationship between family members without evidence."…
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 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 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…
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…
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,…
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…
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…
OpenAI and Oracle have partnered to develop "4.5 gigawatts GW of additional 'Stargate' data center capacity" in the US, bringing OpenAI's total Stargate AI data center capacity…
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…
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,…
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…
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 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 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…
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…
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…
CESTAT Customs, Excise, and Service Tax Appellate Tribunal dismissed Mittal Corp's appeal despite CIRP Corporate Insolvency Resolution Process proceedings, upholding excise duty…
The Madras High Court ruled that "second-hand digital MFDs Multi-Function Devices qualifying as highly specialized equipment are freely importable and eligible for provisional…
The Jammu & Kashmir High Court denied pre-arrest bail to a "retired army man accused in a ₹6 crore crypto fraud." The court considered the gravity of the alleged offense, which…
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…
The NCLAT National Company Law Appellate Tribunal dismissed a plea for "video recording in Essar Steel-related proceedings," ruling "no special grounds made." The tribunal…
The NCLAT National Company Law Appellate Tribunal has refused to entertain a "₹13.6 crore GST claim filed after resolution plan approval." The tribunal ruled that once a…
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…
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…
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 ruled that a "discretionary trust created under a deceased's will is not liable to income tax at the maximum marginal rate under Section…
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…
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