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The ITAT Income Tax Appellate Tribunal has ruled that an Income Tax notice issued after March 31, 2021, under the old regime is invalid, despite the TOLA Taxation and Other Laws…
Clean Fanatics has bagged $2 million to "scale up its home services marketplace." This funding injection indicates investor confidence in the growing demand for organized home…
The ED Enforcement Directorate has booked Rana Daggubati, Vijay Devarakonda, and 27 others for "promoting illegal betting." This significant development indicates a major…
The Uttarakhand High Court has allowed the revocation of GST cancellation for non-filing of returns, citing "identical earlier orders." This decision provides significant relief…
The DRAT Debt Recovery Appellate Tribunal has ruled that an OTS One-Time Settlement scheme is a "non-discretionary one and applicable to one and all," allowing SBI's appeal. This…
The Uttarakhand High Court has dismissed an Income Tax appeal against Samsung Heavy Industries, ruling that Section 40 a ia is "not applicable to short deduction of TDS." Section…
The DRAT Debt Recovery Appellate Tribunal has ruled that a challenge on a sale conducted by IOB Indian Overseas Bank is "not maintainable based on an unregistered sale deed which…
The NCLAT National Company Law Appellate Tribunal has held that Section 238 of the IBC Insolvency and Bankruptcy Code "cannot override PMLA cases involving proceeds of crime."…
Tracxn shares surged 10% after a "share buyback announcement." This significant jump in share price indicates a positive market reaction to the company's decision to buy back its…
Infinity Fincorp has bagged $230 million, with Partners Group acquiring a majority stake. This substantial investment highlights a major private equity deal in the financial…
An Entrackr report highlights that while Edtech is struggling, "loan enablers" are not. This reveals a dichotomy in the current educational technology landscape. While direct…
The NCLT National Company Law Tribunal has dismissed Canara Bank's application under Section 95 of the IBC Insolvency and Bankruptcy Code due to "failure to prove claimed debt."…
The NCLAT National Company Law Appellate Tribunal has affirmed that it lacks jurisdiction to interfere with "confirmed ED attachments under PMLA" Prevention of Money Laundering…
The ITAT Income Tax Appellate Tribunal has ruled that non-submission of a provisional registration copy for S12AB registration is "not a ground to determine prerequisite…
The ITAT Income Tax Appellate Tribunal has ruled that reassessment after 4 years with the same set of facts, which were already available during the original assessment, is…
The ITAT Income Tax Appellate Tribunal has remanded an FTC Foreign Tax Credit matter for verification, asking to "consider GST registration and Import-Export Certificate for…
The Delhi High Court has restrained Kuku FM from streaming 5 shows after Pocket FM alleged "IP violation." This significant ruling protects intellectual property rights in the…
The Jammu & Kashmir High Court is hearing a case regarding GST on "rent for hotels by security forces." This significant case involves the taxability of accommodation provided to…
The CESTAT Customs, Excise, and Service Tax Appellate Tribunal has ruled that goods not prohibited under Foreign Trade Policy still require a valid IEC Import Export Code , and…
The ITAT Income Tax Appellate Tribunal has ruled that broadband and bandwidth charges are "not a royalty" and has dismissed the TDS Tax Deducted at Source claim of the revenue.…
The ITAT Income Tax Appellate Tribunal has allowed deductions for CSR Corporate Social Responsibility donations, ruling that conditions for donees under Section 80G were…
The CESTAT Customs, Excise, and Service Tax Appellate Tribunal has ruled that service tax is payable only on the service portion in a works contract where VAT was already paid on…
A PAN-Aadhaar misuse case has triggered GST notices and exposed a ₹145 crore fraud hitting rural victims. This alarming fraud highlights a growing concern regarding identity theft…
The CBDT Central Board of Direct Taxes has extended the tax exemption timeline for sovereign wealth and pension funds until March 31, 2030. This significant policy decision aims…
The Calcutta High Court has ruled that if a partnership deed provides for the heir of a deceased partner to inherit their share and the partnership continues, the legal heir can…
The NCLAT National Company Law Appellate Tribunal has upheld a "fraud finding against a former director," ordering a ₹3.18 crore contribution for "sham transactions." This…
The ITAT has upheld a co-operative society's tax exemption, citing "operational funds" to reject the Revenue's appeal on interest income. Section 80P provides deductions for…
The Madras High Court has ruled that the GST department "must grant time extension for submitting additional documents when sought." This crucial decision reinforces the principle…
SBI has won before CESTAT on a service tax demand for "interchange and free ATM services," with the Supreme Court to hear a related appeal together. This significant ruling…
The Finance Ministry has denied reports about "directions to banks closing inactive Jan Dhan accounts." This clarification addresses public concerns about the accessibility of…
The ITAT has ruled in favor of a rural co-operative society, upholding deduction under Section 80P for "nominal members" and overturning the CIT A order. Section 80P provides…
The ITAT has remanded a case for fresh hearing due to the assessee's failure to submit evidence. This decision highlights the importance of taxpayers providing adequate…
The Telangana High Court has dismissed State Bank of India's writ plea, upholding an auction invalidation over SARFAESI violations. The SARFAESI Act allows banks to enforce…
Bajaj Consumer Care has received a GST demand notice for "credit mismatch." This indicates a discrepancy identified by the tax authorities between the Input Tax Credit ITC claimed…
The Gujarat High Court has ruled that GST orders on the portal are valid without a visible signature if uploaded using a DSC Digital Signature Certificate . This significant…
In a win for Ford India, the Supreme Court has allowed "transitional credit" even if not reflected in the electronic credit ledger on the refund date. Transitional credit allows…
The Bombay High Court has ruled that a Section 79 GST recovery notice issued to a bank "without prior notice to the assessee is void." Section 79 allows tax authorities to recover…
The DGFT Directorate General of Foreign Trade has notified new SIONs Standard Input-Output Norms for chemical and allied products under FTP 2023 Foreign Trade Policy 2023 . SIONs…
The Gujarat High Court has ruled that interest from cooperative banks is deductible under Section 80P 2 d , as they fall under the definition of "cooperative society." Section 80P…
UPI Unified Payments Interface is going global, with Namibia becoming the first foreign country to sign a licensing agreement. This landmark development signifies a major…
The Gujarat High Court has ruled that the ITAT Income Tax Appellate Tribunal can allow the 10% LTCG Long-Term Capital Gains rate on unlisted shares despite no revised return, if…
The ITAT has granted a school principal a hearing in a tax case, citing "procedural lapses." This decision highlights the tribunal's role in ensuring fair and proper conduct of…
The Finance Ministry has denied reports about "directions to banks closing inactive Jan Dhan accounts." This clarification addresses public concerns about the accessibility of…
A GST payer alleged overlap of jurisdiction by central and state authorities, but the Madras High Court found "no case made out" and granted "partial relief." This case highlights…
The MCA Ministry of Corporate Affairs is set to launch the final set of company forms on the V3 portal, announcing portal downtime for the transition. This significant…
The PIB Press Information Bureau has warned against fake e-PAN card emails, with the Income Tax Department also warning of a phishing scam. This alert highlights a persistent…
The Telangana High Court has dismissed State Bank of India's writ plea, upholding an auction invalidation over SARFAESI violations. The SARFAESI Act allows banks to enforce…
The Enforcement Directorate ED has filed a chargesheet in a ₹734 crore GST ITC Input Tax Credit fraud case. This significant development marks a crucial step in combating…
Two individuals have been booked in a GST scam involving ₹17 crore tax evasion using shell companies. This serious financial fraud highlights the ongoing challenge of illicit…
The Ministry of Finance has notified IREDA Indian Renewable Energy Development Agency bonds as long-term specified assets under Section 54EC of the Income Tax Act. This…
The ITAT Income Tax Appellate Tribunal has ruled that an Income Tax notice issued after March 31, 2021, under the old regime is invalid, despite the TOLA Taxation and Other Laws…
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