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The Income Tax Appellate Tribunal ITAT has deleted a penalty imposed under Section 271 1 b of the Income Tax Act, finding that the National Faceless Assessment Centre NFAC passed…
Sri Mandir's parent company, AppsForBharat, has bagged INR 175 crore approximately $21 million in funding. This closely aligns with previous reports of a $20 million Series C…
Agritech startup Eeki has successfully netted $7 million approximately ₹58 crore in funding. This investment will likely be utilized to scale Eeki's innovative solutions in the…
The Kerala High Court has ruled that assessment proceedings initiated against a deceased person are invalid if notice is not properly served on their legal heirs under Section 93…
The Kerala High Court has ruled that the absence of an express reference to the "conveyance" in a confiscation order issued under Section 130 of the CGST Act does not…
The Reserve Bank of India RBI has advised financial institutions to adopt a risk-based supervision and a "zero trust" approach to curb cyberfrauds. This directive underscores the…
Oracle has reportedly signed a cloud services deal and is eyeing Stargate and OpenAI, signaling its strategic expansion in the AI and cloud computing space. This move suggests…
Elon Musk's xAI, the artificial intelligence company, has reportedly secured $10 billion in debt and equity funding, aimed at boosting its Grok AI development and data center…
The Kerala High Court has affirmed that goods confiscated under Section 130 of the GST Act can be released during the pendency of an appeal, provided they have not yet been…
Zoomcar, a car-sharing marketplace, has reported a loss of $26 million approximately ₹217 crore on a revenue of $9 million approximately ₹75 crore in FY25. These figures indicate…
The Reserve Bank of India RBI has advised financial institutions to adopt a risk-based supervision and a "zero trust" approach to curb cyberfrauds. This directive underscores the…
The Competition Commission of India CCI has approved GIC's investment in IPO-bound Groww, a prominent investment platform. GIC, Singapore's sovereign wealth fund, is a significant…
The Andhra Pradesh High Court has ruled that the delegation of power to categorize consumers based on discretion, without any clear guidance in the Electricity Duty Act, is…
The Bar Council of India BCI has issued a stern warning, declaring that online and distance learning LL.M. Master of Laws degrees are invalid and advising students and…
The Calcutta High Court has clarified that the proper officer should strictly follow the formulae prescribed under Rules 42 and 43 of the GST Rules to compute the utilization of…
The Himachal Pradesh High Court has stayed proceedings related to a writ petition challenging an approval granted under Section 151 of the Income Tax Act, pending the disposal of…
The Delhi High Court has revived Crocs' "passing off" suits against Bata, Liberty, and Relaxo. "Passing off" is a common law tort that protects unregistered trademarks and…
The Bombay High Court has directed YES Bank to pay ₹50,000 for insisting on Aadhaar to open a bank account, despite a Supreme Court ruling that Aadhaar cannot be mandated for…
The Delhi High Court has stayed an award of ₹339.25 crore in favor of Beverly Polo by Amazon in a trademark infringement case. This stay order signifies a temporary halt to the…
Agritech startup Eeki has successfully netted $7 million approximately ₹58 crore in funding. This investment will likely be utilized to scale Eeki's innovative solutions in the…
The Madras High Court has addressed a challenge on the unconstitutionality of the Nidhi Rules, 2014, as amended by the Companies Amendment Act, 2017. The court has directed the…
The Income Tax Appellate Tribunal ITAT has ruled that the Arm's Length Price ALP recomputed by the Transfer Pricing Officer TPO is invalid because the assessee, Schaeffler India…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has ruled that wafers are entitled to a reduced rate of excise duty under a specific exemption notification, thereby…
The Andhra Pradesh High Court has ruled that consent from the President is not required for amendments to Sections 3 and 7 of the Andhra Pradesh Electricity Duty Act, as these…
The Rajasthan High Court has delivered a significant ruling concerning a juvenile accused of rape, where the conviction was upheld but the sentence was reduced. This decision…
The Madhya Pradesh High Court has ruled that taxpayers with pending appeals are eligible for 50% relief under the 2020 Samadhan Scheme. This scheme, likely introduced to resolve…
The Kerala High Court has ruled that luxury tax imposed under Section 5A of the Kerala Building Tax Act is constitutionally valid even after the 101st Amendment to the…
The Kerala High Court has affirmed that goods confiscated under Section 130 of the GST Act can be released during the pendency of an appeal, provided they have not yet been…
The Income Tax Appellate Tribunal ITAT has set aside reassessment notices issued under Section 148 of the Income Tax Act, citing a lack of proper sanction post-Finance Act, 2021.…
The Income Tax Appellate Tribunal ITAT has acknowledged an assessee's non-appearance due to a medical emergency and has restored the 80G approval matter to the Commissioner of…
The Income Tax Appellate Tribunal ITAT has condoned a 66-day delay in filing an appeal, citing the COVID-19 lockdown and the preoccupation of the Chartered Accountant CA as valid…
The Rajasthan High Court has delivered a significant ruling concerning a juvenile accused of rape, where the conviction was upheld but the sentence was reduced. This decision…
The Andhra Pradesh High Court has ruled that consent from the President is not required for amendments to Sections 3 and 7 of the Andhra Pradesh Electricity Duty Act, as these…
The Uttarakhand State Commission has dismissed a complaint against a doctor, ruling that negligence must be proven through expert opinion and that an ultrasound report alone is…
The Gujarat High Court has ruled in favor of Adani Wilmar Ltd., stating that a Permanent Account Number PAN is not mandatory for claiming a lower tax deduction at source TDS under…
The Income Tax Appellate Tribunal ITAT has deleted a penalty imposed under Section 271 1 b of the Income Tax Act, finding that the National Faceless Assessment Centre NFAC passed…
The Securities and Exchange Board of India SEBI has extended the compliance deadline for its enhanced cybersecurity framework for regulated entities. This extension provides…
Delhivery, a leading logistics and supply chain services company, has received an Income Tax penalty order amounting to ₹136 crore. This significant penalty likely stems from…
Tax professionals and income taxpayers experienced confusion as the Income Tax e-filing portal momentarily enabled ITR-2 and ITR-3 forms for e-filing. This brief activation led to…
Eight Roads, a venture capital firm, has sold stakes in three of its portfolio startups in a $50 million approximately ₹417 crore secondary deal. A secondary sale allows existing…
The Andhra Pradesh High Court has ruled that the delegation of power to categorize consumers based on discretion, without any clear guidance in the Electricity Duty Act, is…
The Madras High Court has addressed a challenge on the unconstitutionality of the Nidhi Rules, 2014, as amended by the Companies Amendment Act, 2017. The court has directed the…
The Kerala High Court has addressed a matter under Section 173 of the BNSS Bharatiya Nagarik Suraksha Sanhita , specifically concerning a complaint emailed abroad to a foreign…
The Finance Ministry has issued an update on the Customs Tariff values for several key commodities, including palm oil, soya bean oil, gold, silver, and areca nuts. These…
The Income Tax Appellate Tribunal ITAT has affirmed the genuineness of a share transfer despite discrepancies noted by the Registrar of Companies ROC . Crucially, the ITAT…
The Income Tax Appellate Tribunal ITAT has granted an assessee one more opportunity to submit necessary documents, acknowledging that the accounts department failed to communicate…
The Income Tax Appellate Tribunal ITAT has denied the 80G exemption to an educational trust because it failed to adequately justify donations made to other trusts. Section 80G of…
Meta, the parent company of Facebook, has mandated SEBI Securities and Exchange Board of India verification for investment advertisements in India. This significant move aims to…
The Income Tax Appellate Tribunal ITAT has clarified that Section 115BBE of the Income Tax Act, which prescribes a higher tax rate on unexplained cash credits, investments, etc.,…
The Income Tax Appellate Tribunal ITAT has definitively ruled that any reassessment initiated under Section 148 of the Income Tax Act without obtaining the necessary approval from…
The Income Tax Appellate Tribunal ITAT has deleted a penalty imposed under Section 271 1 b of the Income Tax Act, finding that the National Faceless Assessment Centre NFAC passed…
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