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The Bombay High Court has set aside a ₹170 crore GST demand against Go Digit General Insurance, ordering fresh adjudication. This significant relief for Go Digit indicates that…
Smartworks, a co-working space provider, clocked ₹1,374 crore in revenue and a ₹62 crore loss in FY25. These financial results indicate significant revenue generation but also…
Ahead of its IPO, Captain Fresh, a B2B seafood marketplace, has converted into a public entity. This crucial legal and corporate restructuring signifies the company's readiness to…
The Income Tax Appellate Tribunal ITAT has quashed a revision order concerning CSR Corporate Social Responsibility donations, as the Assessing Officer AO had already verified…
The Income Tax Appellate Tribunal ITAT has restored a matter to the Assessing Officer AO , noting the failure to examine debit entries and additional evidence when treating cash…
The NCLAT has provided relief to Deloitte, setting aside an NCLT order allowing an amendment in the IL&FS case without proper judicial approval. This significant ruling emphasizes…
The Delhi High Court has quashed Income Tax notices, ruling that Section amendments are prospective and invalidating reopening beyond limitation. This significant decision…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has delivered a setback for Vedanta, denying interest on customs refund, stating claims were settled within the…
The Business Standard has reported that corporate fraud accounts pose tough challenges for the banking system. This highlights a significant and ongoing threat to financial…
The Bombay High Court has ruled that an under-construction flat can be considered a "shared household" for purposes of the Domestic Violence Act, even if the husband is paying…
The Delhi High Court has ruled that an amendment to bring an additional ground to Section 34 is maintainable, and objections are not beyond judicial scrutiny of a Section 34…
The Income Tax Appellate Tribunal ITAT has quashed an assessment for lack of jurisdiction, ruling that the "reason to believe" was framed by a non-jurisdictional AO Assessing…
A Chartered Accountant CA has been nabbed in a crore fake loan app scam with suspected China links. This alarming development highlights the involvement of financial professionals…
The Income Tax Appellate Tribunal ITAT has condoned a days' delay in filing an Income Tax appeal due to personal problems. This compassionate ruling highlights the tribunal's…
The Income Tax Appellate Tribunal ITAT has deleted a crore adjustment, holding that the amendment was prospective and utilization was within the permissible timeframe. This…
The annual return filing deadline has been extended for PIBOS Persons of Indian Origin Outside and PWPs Persons with Permanent Warrants . This regulatory change provides relief to…
An Indian Redditor has recounted corruption woes in the department: "one GST registration, two bribes, and three slaps to meritocracy." This anecdotal but impactful account…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has provided relief to Bosch, ruling that the notional cost of free designs from Maruti is not part of excise duty…
The Income Tax Appellate Tribunal ITAT has set aside a CITA's Commissioner of Income Tax Appeals deletion of a crore addition under Section 68, and remanded it to the AO, as the…
The Debt Recovery Appellate Tribunal DRAT has directed to pay Canara Bank, citing a delay in filing a written statement relating to outstanding public money. This ruling…
Union Minister Piyush Goyal has stated that GST is likely to be slashed to boost the handloom and handicraft sectors in J&K Jammu & Kashmir . This policy consideration aims to…
Donald Trump has threatened a 10% additional tariff on BRICS nations due to "anti-American policies on trade and taxes." This significant geopolitical and economic statement…
The Debt Recovery Appellate Tribunal DRAT has directed the disposal of Axis Bank's petition on July, as the DRT Debt Recovery Tribunal order staying coercive steps in secured…
The Income Tax Appellate Tribunal ITAT has ruled that interest from land acquisition cannot be taxed under 'income from other sources'. This significant decision provides relief…
The CBIC Central Board of Indirect Taxes and Customs has elevated four officers to the Chief Commissioner grade. This significant administrative development marks a promotion for…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has granted relief to Hindustan Petroleum, holding that modernization services within a refinery are 'input service'…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has ruled that the FOB Free On Board value agreed between buyer and seller cannot be changed by Customs authorities.…
The Madras High Court has ruled that the CIT Commissioner of Income Tax order to recompute Tamil Nadu Cements' set-off is valid, as the method used was faulty. This decision…
The Income Tax Appellate Tribunal ITAT has allowed a lakh Foreign Tax Credit FTC after finding that the form was filed in time under the amended provisions. This ruling provides…
Concerns have been raised that GSTN Goods and Services Tax Network has "gone completely mad," issuing "bulk unverified and uncalled for" emails/SMS to composition dealers, causing…
The Income Tax Appellate Tribunal ITAT has upheld the deletion of an addition related to share capital and premium from an NRI Non-Resident Indian , as it was received through…
The Directorate General of Trade Remedies DGTR has revised CVD Countervailing Duty rates on continuous cast copper wire rod imports from Indonesia, Malaysia, Thailand, and…
The Income Tax Appellate Tribunal ITAT has allowed a deduction despite a delay in filing a form, terming it procedural. This significant ruling provides relief to taxpayers,…
The Income Tax Appellate Tribunal ITAT has deleted a lakh cash deposit addition, citing prior cash withdrawals for medical treatment. This compassionate ruling provides…
A multi-state GST scam worth ₹248 crore in tax evasion has been uncovered, leading to 5 arrests. This significant breakthrough highlights the persistent efforts of tax…
The SGST State Goods and Services Tax has launched a statewide crackdown on scrap dealers to curb GST evasion. This targeted enforcement action indicates that authorities suspect…
A Group of Ministers GoM on GST revenue has formed a panel to curb tax evasion and boost compliance. This proactive step by the government aims to enhance revenue collection under…
IIT Madras is set to launch a ₹200 crore alumni-backed early-stage startup fund. This significant initiative highlights the institution's commitment to fostering entrepreneurship…
The state government is set to expand its amnesty scheme for pending pre-GST tax arrears. This move aims to facilitate the resolution of old tax disputes and clear outstanding…
Amazon has expanded its quick commerce service to Delhi, indicating a strategic push to capture a larger share of India's rapidly growing instant delivery market. Quick commerce,…
Ahead of its IPO, Captain Fresh, a B2B seafood marketplace, has converted into a public entity. This crucial legal and corporate restructuring signifies the company's readiness to…
The Finance Ministry has extended National Pension System NPS tax benefits to the Unified Pension Scheme UPS for Central Government Employees. This significant policy change aims…
The government is extending tax benefits to Unified Pension Schemes UPS as it pushes for pension reforms. This move aims to incentivize participation in UPS, which likely refers…
Income Tax Refunds for AY 2025-26 are likely to be delayed as the IT Department reviews past tax records. This proactive measure by the tax authorities aims to ensure accuracy and…
The National Company Law Appellate Tribunal NCLAT has ruled that a 30-day delay in filing an appeal under NCLT Rules can be condoned on "sufficient cause." This decision offers…
The Debt Recovery Tribunal DRT has ruled that a mere typographical error in a demand notice would not invalidate recovery proceedings initiated by Union Bank of India. This…
The Madras High Court has ruled that a life membership fee received by a private club is a capital receipt and not taxable to income. This significant decision clarifies the tax…
A GST applicant has condemned the department's demand for business proof, specifically a photo of the "upload site with a signboard and adjacent shop." This highlights a point of…
The Madras High Court has upheld an ITAT order allowing development expenses, rejecting the revenue's appeal. The court noted that TDS was deducted, physical verification was…
The Madras High Court has granted an opportunity for hearing and production of BRCs Bank Realisation Certificates or CA certificates to a tapioca exporter, as SCN Show Cause…
The Bombay High Court has set aside a ₹170 crore GST demand against Go Digit General Insurance, ordering fresh adjudication. This significant relief for Go Digit indicates that…
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