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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…
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…
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…
Saraswat Bank has proposed to acquire the fraud-hit New India Cooperative Bank and has approached the RBI for approval. This potential acquisition indicates a consolidation move…
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…
Morgan Stanley has offloaded PB Fintech shares worth INR 19.1 crore approximately $2.3 million . PB Fintech is the parent company of Policybazaar and Paisabazaar. This transaction…
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…
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 Guwahati High Court has allowed the restoration of a GST registration that was cancelled because the assessee failed to respond to a CGST notice, acknowledging the reason as a…
The Income Tax Appellate Tribunal ITAT has granted an assessee one final opportunity to submit "paper books" to substantiate the genuineness of an unsecured loan and the movement…
A significant GST scam amounting to ₹512 crore, involving fraudulent Input Tax Credit ITC claims worth ₹130 crore, has been unearthed in Madhya Pradesh. The alleged mastermind…
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…
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 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…
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…
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…
The Income Tax Appellate Tribunal ITAT has ruled that an ad-hoc disallowance without complete verification is unsustainable, leading to the deletion of a ₹22 lakh addition made…
The Income Tax Appellate Tribunal ITAT has ruled that invoking Section 263 of the Income Tax Act to revise an assessment based on interest on loan disallowance is invalid when the…
The Gauhati High Court has quashed a Goods and Services Tax GST demand due to the lack of a proper Show Cause Notice SCN under Section 73 of the CGST Act. Section 73 deals with…
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…
Recognize, a private equity firm, has successfully closed its second fund, dedicated to investing in digital services firms. This signifies the firm's continued focus and…
FincFriends, a financial services company, has successfully raised ₹98.5 crore approximately $11.7 million in debt funding from other NBFCs Non-Banking Financial Companies . This…
Shadowfax, a logistics and delivery services provider backed by Flipkart, has confidentially filed a Draft Red Herring Prospectus DRHP with SEBI. This confidential filing…
In June, TVS led electric two-wheeler sales, while Ola Electric slipped further, and Bajaj held its position as the second-largest seller. This shift indicates a dynamic and…
The Debt Recovery Appellate Tribunal DRAT has ruled that a loan granted under a State Government-sponsored scheme does not amount to "debt" as defined under Section 2 g of the…
The Telangana High Court has clarified that the appointment of a sole arbitrator by one party, when the other party fails to act after receiving proper notice, does not constitute…
The Bombay High Court has issued a significant ruling stating that a "perpetual assignment" of music rights covers all future technologies, not merely those existing at the time…
UPI Unified Payments Interface transactions recorded a marginal dip in June, totaling 18.4 billion transactions. While a slight decrease from previous months, this volume still…
AppsForBharat, the parent company of popular devotional apps like Sri Mandir, has successfully raised $20 million approximately ₹167 crore in its Series C funding round. This…
ESRI India, a leading provider of Geographic Information System GIS software, has opened a GIS and AI Competency Centre, entailing an investment of over ₹150 crore. This…
Zango, a company focused on AI-native compliance tools, has bagged $4.8 million approximately ₹40 crore in funding. This investment will likely be deployed to further develop and…
The Income Tax Appellate Tribunal ITAT has criticized the Commissioner of Income Tax Appeals CIT A for dismissing fresh applications on purely procedural grounds. The ITAT has…
Aukera, a brand specializing in lab-grown diamonds, has successfully raised $15 million in a funding round, primarily led by Peak XV. This significant investment highlights the…
Cricket icon Virat Kohli has acquired a significant 19.4% stake in Agilitas Sports, a new sportswear and athleisure company. This strategic investment marks a notable entry for…
Walko Food Company has acquired Meemee's Ice Creams, marking its strategic entry into the artisanal dessert vertical. This acquisition allows Walko Food to diversify its product…
The Ernakulam District Consumer Disputes Redressal Commission has ordered IHA Designs, a saree shop in Alappuzha, to refund ₹16,500 for a defective saree and pay an additional…
Peak XV Partners, formerly Sequoia Capital India, is reportedly experiencing significant windfall gains from recent Initial Public Offerings IPOs and successful investments across…
Torrent Pharmaceuticals has successfully secured a massive ₹20,000 crore approximately $2.4 billion credit line to finance its proposed acquisition of JB Chemicals &…
Eggoz, a startup in the agritech sector focusing on the organized egg market, is set to raise ₹125 crore approximately $15 million in funding from Gaja Capital and other…
The Himachal Pradesh government has sought a waiver of a ₹5 lakh fine imposed by the High Court. While the specific reasons for the fine are not detailed, such penalties are…
Eggoz, a startup in the agritech sector focusing on the organized egg market, is set to raise ₹125 crore approximately $15 million in funding from Gaja Capital and other…
The Himachal Pradesh government has sought a waiver of a ₹5 lakh fine imposed by the High Court. While the specific reasons for the fine are not detailed, such penalties are…
Three individuals have been apprehended in Ahilyanagar Nashik with counterfeit currency notes amounting to a face value of ₹66 lakh. This significant seizure highlights ongoing…
Three individuals have been apprehended in Ahilyanagar Nashik with counterfeit currency notes amounting to a face value of ₹66 lakh. This significant seizure highlights ongoing…
Walko Food Company has acquired Meemee's Ice Creams, marking its strategic entry into the artisanal dessert vertical. This acquisition allows Walko Food to diversify its product…
Torrent Pharmaceuticals anticipates recovering the acquisition cost of JB Chemicals & Pharmaceuticals within a remarkably short period of 2.5 years from taking control. This…
Tenneco Clean Air India, a company backed by Apollo Global, is reportedly planning an Initial Public Offering IPO soon, having filed preliminary papers with SEBI for a ₹3,000…
The Income Tax Appellate Tribunal ITAT has ruled that a bank passbook cannot be considered "books of account" for the purpose of making an addition under Section 68 of the Income…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has reaffirmed that land and material costs must be excluded when calculating service tax on works contracts. This…
The Income Tax Appellate Tribunal ITAT has ruled that Corporate Social Responsibility CSR contributions are eligible for deduction as donations under Section 80G of the Income Tax…
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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