The Supreme Court has dismissed a revenue's Special Leave Petition SLP over "income tax evasion by bogus LTCG and STCL claims." The court's decision signals that it found no merit…
05/07/20251 min read
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The Supreme Court has dismissed a revenue's Special Leave Petition SLP over "income tax evasion by bogus LTCG and STCL claims." The court's decision signals that it found no merit…
The Supreme Court has directed an assessee to opt for an appeal under the CGST Act, as ruled by the Gujarat High Court. The court's decision reinforces the importance of following…
The Supreme Court has upheld that the "excise duty on stock transfers to sister units" should be valued under Rule 8 at 110% of the cost. The court's decision settles a…
The AAR has ruled that the "cumulative income tax paid by a firm and its partners" is eligible for the Rule 86B exemption. The decision provides significant clarity on a…
The Delhi High Court has allowed a taxpayer to file an appeal despite the time elapsed, as the Customs Department failed to provide a hearing, ruling that "natural justice is not…
The Supreme Court has refused to condone the filing of an SLP against an order upholding a merger and a short-term capital loss claim. The court's decision reinforces the…
The Patna High Court has ruled that the "limitation to claim a GST refund begins from the date of correct IGST payment." The court's decision provides much-needed clarity on the…
The ITAT has scrapped a tax demand on a real estate firm, ruling that the "on-money" tax demand was based on no evidence. The tribunal found that the tax authorities had failed to…
The CESTAT has provided relief to Bata India, ruling that "MRP valuation is not applicable on institutional sales" and has quashed an excise duty demand. The tribunal found that…
The Supreme Court has dismissed a revenue's SLP, upholding the High Court's decision to quash the "debonding application of Dr. Reddy's Lab." The court's decision brings an end to…
The Patna High Court has ruled that the limitation period to claim a GST refund begins from the date of correct IGST payment, not from an earlier incorrect payment. The court’s…
The ITAT has scrapped a tax demand on a real estate firm, ruling that the "on-money" tax demand was based on no evidence. The tribunal found that the tax authorities had failed to…
The CESTAT has provided relief to Bata India, ruling that "MRP valuation is not applicable on institutional sales" and has quashed an excise duty demand. The tribunal found that…
The Supreme Court has dismissed a revenue's Special Leave Petition SLP , upholding a High Court's decision to quash the "debonding application of Dr. Reddy's Lab." The court’s…
The Supreme Court has permitted the withdrawal of a Special Leave Petition SLP with liberty to return to the Punjab and Haryana High Court in a case involving a "year's delay in a…
The Government has released a list of 31 appointed Technical Members to the Goods and Services Tax Appellate Tribunal GSTAT . The appointments are a significant step towards…
SAIL has been granted relief by CESTAT, which ruled that a "captive use of steel items for internal roads and maintenance activities" is exempt from excise duty. The tribunal…
SEBI has invited public comments on proposed amendments to "related party transactions" under the SEBI LODR Regulations. The move is aimed at enhancing corporate governance and…
The Supreme Court, expressing shock, has ordered the Allahabad High Court to strip a judge of the criminal roster. The court's decision came after it found that the judge had…
The Ernakulum District Commission has held Paytm and its officials liable for delivering a low-value t-shirt instead of a laptop, causing a loss to the consumer. The commission's…
The NCLAT, Chennai, has ruled that the "90-day timeline for schemes of compromise/arrangement is directory, not mandatory." This decision provides much-needed flexibility for…
The NCLT, New Delhi, has ruled that a "Resolution Professional can't cherry-pick entries from financial records" while verifying claims of creditors. The tribunal’s decision…
The Supreme Court is hearing a Public Interest Litigation PIL to track foreign GST services, putting the issue of OIDAR Online Information and Database Access or Retrieval…
The Delhi High Court has ruled that a GST refund cannot be granted to a trader until their "cancelled registration is restored." The court's decision reinforces the legal…
The Patna High Court has dismissed the bail plea of a senior advocate accused in a murder case. The court's decision was based on the gravity of the crime and the evidence…
The Andhra Pradesh High Court has stayed the investigation against Sony India's Managing Director in a consumer fraud case. The court's decision is a significant development,…
BlackBuck, a logistics platform, has reported a revenue of ₹144 crore in Q1 FY26, with its profit growing by 17%. The company's financial performance signals a positive trend in…
IRCTC Payments has received a nod from the RBI to operate as a payment aggregator. This approval is a significant milestone for the company, allowing it to process online payments…
The NCLAT has restricted Gensol from leasing out 152 EVs, a move that could impact the company's business operations. The tribunal's decision came after a dispute, and it…
BlueStone's IPO is set to open on August 11, with the issue size cut by ₹180 crore. The reduction in the IPO size signals a strategic decision by the company to adjust to market…
Fibes' lending arm has raised ₹225 crore in debt. The funding will be used to grow the company's lending business and expand its operations. This is a significant development for…
Bobble AI is reportedly planning to raise fresh funds at a 30% valuation dip. This move by the company indicates a need for fresh capital and a recognition of the current market…
Clear, a fintech company, has cut 16% of its workforce amid the peak tax-filing season. The layoffs indicate a strategic shift by the company to streamline its operations and…
The ITAT has set aside the "ex-parte rejection of an 80G approval application" and has directed the CIT Exemption to re-examine the plea of the Takshashila Education and…
TurboHire has secured $6 million to provide "Agentic AI-based recruitment solutions." The funding is a significant boost for the startup and reflects the growing investor…
Jeh Aerospace has bagged $11 million from Elevation and General Catalyst. The funding is a major milestone for the aerospace startup and signals a strong investor interest in the…
IRDAI has slapped a ₹5 crore fine on Policybazaar for flouting norms. The penalty, which is a significant one, highlights the regulatory body's strict stance on compliance in the…
The Uttar Pradesh Police are probing "Aadhaar-linked insurance fraud" and are warning of a rise in insurance scams using fake identities. The investigation highlights the…
Indian cloud companies are set to "storm local skies with a low-cost advantage." The report highlights the growing potential of the domestic cloud market and the competitive…
TCS has extended its partnership with Weatherford to "support AI-driven transformation." The partnership is a significant development in the technology sector, highlighting the…
Spotify is charging 28% more in India, and a report explains why. The price increase is a significant development for the music streaming platform's users in the country. The…
A report on MUFG's $334 million bet on India sparks a "wake-up call for investor due diligence." The report highlights the importance of thorough due diligence, especially when…
Legal-tech startup August has raised $7 million from New Enterprise Associates and Pear VC. The funding is a significant boost for the startup and signals a strong investor…
Industry experts believe that RERA can "grade real estate promoters to increase credibility." The suggestion is aimed at improving transparency and protecting homebuyers. By…
Haryana RERA has served a notice to a developer to "comply with orders" after a money laundering case was filed by the ED. The notice highlights the increasing scrutiny of the…
Practo, a health-tech startup, has turned profitable in FY25 and has revived its IPO plans. The company's financial turnaround is a major achievement, especially in the…
The Delhi High Court has ruled that a "pre-filled SCN waiver form is not legally valid" and has ordered the release of jewellery upon payment. The court found that the Customs…
A racket involving the generation of fake e-way bills for empty vehicles has been busted in Hyderabad. The fraudsters were using the fake bills to claim fraudulent Input Tax…
The Karnataka GST department has sent notices to over 7,000 unregistered vendors based on data from UPI transactions. This move is a significant step in the department's use of…
The CESTAT has ruled that "bus services for transporting employees and school children qualify for service tax exemption" under a specific notification. The tribunal found that…
The Supreme Court has dismissed a revenue's Special Leave Petition SLP over "income tax evasion by bogus LTCG and STCL claims." The court's decision signals that it found no merit…
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