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The Customs, Excise and Service Tax Appellate Tribunal CESTAT has set aside a hefty penalty of Rs 55 crore, ruling that there was no customs violation as the alleged overvaluation…
In a relief for businesses acting as intermediaries, the Customs, Excise, and Service Tax Appellate Tribunal CESTAT has ruled that no service tax is payable on amounts received as…
In a relief to Mahindra & Mahindra Ltd, the Bombay High Court has ruled that an Assessing Officer AO does not have the jurisdiction to alter the net profit shown in a company's…
In a significant order, the Calcutta High Court has restrained the West Bengal government from paying any further stipend to the school teaching and non-teaching staff whose…
The Telangana High Court has clarified the procedure for the appointment of a substitute arbitrator. The court ruled that once the mandate of an arbitrator is terminated under the…
In a pro-exporter ruling, the Customs, Excise, and Service Tax Appellate Tribunal CESTAT has directed the tax authorities to grant a refund of Rs 61.12 lakh for accumulated CENVAT…
The Oil and Natural Gas Corporation ONGC , a state-owned enterprise, has approved a corporate guarantee of $412 million to support the overseas fundraising efforts of its…
Bharat Sanchar Nigam Limited BSNL , the state-owned telecom operator, has launched India's first 100% indigenous 5G Fixed Wireless Access FWA service. The launch took place in…
The Goods and Services Tax Network GSTN has issued a clarification on how taxpayers should handle records that have been inadvertently rejected on the Invoice Matching System IMS…
In a major boost for Chartered Accountancy CA aspirants, the Indira Gandhi National Open University IGNOU has issued a notification that enables the transfer of credits for…
The Supreme Court Advocates-on-Record Association SCAORA has strongly criticized the Enforcement Directorate ED for issuing a notice to senior advocate Arvind Datar. The notice…
Tata Steel has expanded its digital platform, which is specifically designed to empower Micro, Small, and Medium Enterprises MSMEs . The platform aims to provide MSMEs in the…
The Bombay High Court has ruled that design and engineering services provided to foreign entities qualify as "zero-rated supplies" under the GST law. Consequently, the court held…
In a major development in the PNB fraud case, a special PMLA court has ordered the release of assets worth Rs 6,633 crore belonging to the fugitive diamantaire, Nirav Modi. These…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has ruled that certain products generated during the process of refining rice bran oil are to be treated as "waste"…
The Central Government has imposed an anti-dumping duty ADD on the import of Acetonitrile from China, Iran, and the USA for a period of five years. Acetonitrile is a crucial…
In a relief for businesses acting as intermediaries, the Customs, Excise, and Service Tax Appellate Tribunal CESTAT has ruled that no service tax is payable on amounts received as…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT has clarified the scope of penalty under Section 114AB of the Customs Act. This section provides for a penalty on any…
The Gujarat High Court has provided a nuanced interpretation of the omission of Rule 96 10 of the CGST Rules, a provision that restricted certain exporters from claiming IGST…
In a major boost for Chartered Accountancy CA aspirants, the Indira Gandhi National Open University IGNOU has issued a notification that enables the transfer of credits for…
The online travel giant MakeMyTrip has successfully raised a massive $3.1 billion. A primary objective of this fundraising is to buy back a significant portion of the stake held…
An internal audit of the Indian operations of the smartphone company OnePlus has reportedly flagged several issues related to compliance and operational procedures. The audit…
Paytm is reportedly in talks with the Reserve Bank of India RBI to settle a case of an alleged breach of the Foreign Exchange Management Act FEMA . The company is said to have…
The Calcutta High Court has provided interim relief to a taxpayer by staying a GST demand until December 2025. The demand was stayed because the court found that the Input Tax…
The Bombay High Court has ruled that a subsidy received by the Bank of India BOI from the Reserve Bank of India RBI cannot be classified as "interest" and, therefore, is not…
The National Company Law Appellate Tribunal NCLAT has clarified a crucial aspect of the Insolvency and Bankruptcy Code IBC , ruling that the minimum default threshold of Rs 1…
In a relief for KBS Creations, the Income Tax Appellate Tribunal ITAT has ruled that a transfer pricing adjustment cannot be made under Section 80IA 10 of the Income Tax Act…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT has ruled that an amount collected as "liquidated damages" for a breach of contract is not subject to service tax.…
The Supreme Court Advocates-on-Record Association SCAORA has strongly criticized the Enforcement Directorate ED for issuing a notice to senior advocate Arvind Datar. The notice…
The Income Tax Appellate Tribunal ITAT has allowed a taxpayer to claim capital gains exemption under Section 54F of the Income Tax Act for the purchase of a new residential…
The Supreme Court of India has reinstated a quarry lease that was granted to the highest bidder in a tender process. The apex court quashed a High Court order that had set aside…
In a case highlighting administrative lapse, the Income Tax Appellate Tribunal ITAT has remanded a matter involving TDS credit back for reassessment. The case pertains to a…
The Income Tax Appellate Tribunal ITAT has ruled that a deferred sales tax waiver granted to a company should be treated as a taxable business income under Section 28 iv of the…
The Resolution Professional RP overseeing the insolvency proceedings of the edtech giant Byju's has initiated legal action against the company's former directors, including its…
In a setback for Electrotherm India Ltd, the Adjudicating Authority under the Prevention of Money Laundering Act PMLA has upheld the Enforcement Directorate's ED decision to…
The Madras High Court has quashed a GST demand order, criticizing the tax officer for "mechanically" confirming the demand based on a mismatch in the Input Tax Credit ITC claimed.…
The Madras High Court has granted relief to a taxpayer by condoning a 58-day delay in the filing of a GST appeal. The court took into account the petitioner's explanation that the…
The Madras High Court, following a Supreme Court ruling, has held that the income tax deduction for exporters under Section 80HHC should be computed without first reducing the…
The National Consumer Disputes Redressal Commission NCDRC has emphasized the importance of the surveyor's report in settling insurance claims. The commission modified an order…
The Securities and Exchange Board of India SEBI has introduced significant reforms to ease the path for startups planning an Initial Public Offering IPO . The new rules provide…
The Bombay High Court is set to examine whether payments made for the use of satellite transponder services constitute "royalty" under Section 9 1 vi of the Income Tax Act. This…
The Bombay High Court has ruled that a breach of Article 265 of the Constitution, which states that no tax shall be levied or collected without the authority of law, cannot be…
The Delhi High Court has observed that issuing separate GST demands for the reversal of availed Input Tax Credit ITC and for the tax payable on the utilization of that same ITC…
The Bombay High Court has clarified the jurisdiction of an Assessing Officer AO when computing the book profit for the levy of Minimum Alternate Tax MAT under Section 115J of the…
The Madhya Pradesh High Court has held that an ex-parte order an order passed in the absence of a party can be recalled if the concerned party subsequently complies with the…
The Bombay High Court, while upholding an arbitral award directing the Board of Control for Cricket in India BCCI to pay Rs 538.9 crore to Kochi Cricket Private Limited, has…
The Calcutta High Court has clarified the dispute resolution process under the Micro, Small and Medium Enterprises MSME Development Act, 2006. The court ruled that once…
The Telangana High Court has ruled that an award-holder cannot be denied the right to withdraw an amount that has been deposited in the court by the award-debtor, merely on the…
The Delhi High Court has ruled that administrative issues such as the movement of case files or a change in legal counsel are not sufficient grounds to condone a significant delay…
The Madras High Court has clarified the scope of the property tax exemption granted to the Railways under Article 285 of the Constitution. This article exempts the property of the…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT has set aside a hefty penalty of Rs 55 crore, ruling that there was no customs violation as the alleged overvaluation…
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