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Logistics and supply chain services company Delhivery has dissolved its wholly-owned subsidiary in the United Kingdom, Delhivery UK Ltd. The dissolution was completed through a…
The Central Board of Direct Taxes CBDT has notified fresh guidelines for the compulsory manual scrutiny of Income Tax Returns ITRs for the fiscal year 2025-26. These guidelines…
The Central Board of Direct Taxes CBDT has intensified its efforts to curb tax evasion in the cryptocurrency space by issuing a wave of notices to investors. The department is…
The Ministry of Finance has officially dismissed media reports suggesting that the government is planning to introduce a Merchant Discount Rate MDR on Unified Payments Interface…
Authorities from the Central GST department in Delhi have arrested an iron and steel trader for orchestrating a massive GST fraud amounting to Rs 26 crore. The accused is alleged…
The National Company Law Tribunal NCLT has admitted an insolvency plea against Gensol Engineering Ltd. and has directed the commencement of the Corporate Insolvency Resolution…
In a strong defense of natural justice, the Income Tax Appellate Tribunal ITAT has set aside an order that rejected a charitable trust's application for 80G registration. The…
Fireflies.ai, a startup that provides an AI-powered note-taking and meeting transcription service, has reportedly achieved a valuation of $1 billion following a new funding round.…
The government of Andhra Pradesh has signed a significant partnership agreement with a consortium of venture capital funds and startup incubators to boost the state's startup…
The Kolkata Bench of the Income Tax Appellate Tribunal ITAT has ordered a recalculation of a taxpayer's presumptive income under Section 44AE of the Income Tax Act after…
In a significant relief for a taxpayer, the Delhi Bench of the Income Tax Appellate Tribunal ITAT has deleted an addition of Rs 1 crore, ruling that advances received for a…
The Mumbai Bench of the Income Tax Appellate Tribunal ITAT condoned a 148-day delay in filing an appeal, taking into account the assessee's medical condition and a legal oversight…
The Income Tax Appellate Tribunal ITAT has remanded a reassessment case back to the Assessing Officer, providing the assessee with a fresh opportunity to be heard. However, the…
The Income Tax Appellate Tribunal ITAT has deleted a substantial addition of Rs 12 crore made by the Assessing Officer in a case involving an alleged discrepancy in a jeweller's…
The Income Tax Appellate Tribunal ITAT has granted relief in a demonetization-related case involving a cash deposit of Rs 4.16 crore, remanding it for a fresh assessment. The…
The Income Tax Department has released the common offline utilities for filing Income Tax Returns ITR 1 and 4 for the Assessment Year 2025-26. These utilities, available in JSON…
In a significant amendment to the Foreign Exchange Management FEMA regulations, the Reserve Bank of India has permitted the issuance of bonus shares to foreign investors even in…
The Central Bureau of Investigation CBI has arrested a Superintendent of Central GST and a tax advocate in Visakhapatnam for allegedly demanding and accepting a bribe of Rs 1…
The Goods and Services Tax Network GSTN has issued a clarification regarding the HSN-wise summary of Business-to-Consumer B2C supplies reported in Table 12 of the GSTR-1 form. The…
Logistics and supply chain services company Delhivery has dissolved its wholly-owned subsidiary in the United Kingdom, Delhivery UK Ltd. The dissolution was completed through a…
The Goods and Services Tax Network GSTN has issued an advisory following the filing of over 3 lakh applications under the GST amnesty scheme for appeals. This scheme, introduced…
The Kerala High Court has directed the Customs department to dispose of seized consignments of buffalo meat within one month, taking into account the perishable nature of the…
The Income Tax Department has released the common offline utilities for filing Income Tax Returns ITR 1 and 4 for the Assessment Year AY 2025-26. These utilities, which are in a…
The Calcutta High Court has directed the GST authorities to reconsider their denial of Input Tax Credit ITC to a taxpayer who had filed their GSTR-3B return late. The court…
In a landmark decision with far-reaching consequences, the Madras High Court has struck down notifications issued by the government that had extended the timelines for passing GST…
The Income Tax Appellate Tribunal ITAT has clarified the tax implications of a property gift between spouses. The tribunal ruled that if a husband gifts his share in a property to…
In a significant judgment that provides relief to businesses ceasing operations, the Sikkim High Court has ruled that an assessee is entitled to a cash refund of their unutilized…
The Income Tax Appellate Tribunal ITAT has directed an Assessing Officer to adhere to the "principle of consistency" in a case involving Sysmex India Pvt. Ltd. The tribunal…
The Madras High Court has ruled that an income tax deduction claimed under Section 10AA for units in Special Economic Zones SEZs cannot be denied merely because of a delay in…
In a major move to curb food inflation and provide relief to consumers, the central government has announced a significant reduction in the Basic Customs Duty BCD on crude palm…
The Income Tax Appellate Tribunal ITAT has clarified the method for computing the tax deduction under Section 80-IC of the Income Tax Act. This section provides a tax holiday for…
The Delhi Bench of the Income Tax Appellate Tribunal ITAT has ruled that customer contracts and an assembled workforce acquired as part of a business acquisition are identifiable…
The Bombay High Court has rejected a plea from Ankur Panwar, the convict in the 2013 Preeti Rathi acid attack and murder case, who was seeking a transfer to an open prison. The…
Patanjali Foods, the company led by yoga guru Baba Ramdev, has approached the Bombay High Court seeking the removal of alleged encroachers from a large parcel of land it owns in…
In a significant victory for multinational corporations, the Income Tax Appellate Tribunal ITAT has granted relief to Louis Vuitton India, ruling that the "Bright Line Test" BLT…
The Income Tax Appellate Tribunal ITAT has provided a major relief to Micromax Informatics by quashing a revision order passed by the Principal Commissioner of Income Tax PCIT .…
The Mumbai Bench of the Customs, Excise, and Service Tax Appellate Tribunal CESTAT has treated the filing of a refund claim under the wrong notification as a curable procedural…
The Income Tax Appellate Tribunal ITAT has remanded a case involving the denial of Section 80G registration to a trust, directing the tax authorities to re-verify the trust's…
The Kerala High Court has clarified the procedural requirements for initiating prosecution for offenses against marriage, such as adultery or bigamy, which fall under Chapter XX…
The Allahabad High Court has held that the mandatory pre-deposit for filing a GST appeal can be paid using the funds available in the assessee's electronic credit ledger. The…
The Madras High Court has clarified that goods exempted from Basic Customs Duty BCD can still be subject to other duties, such as Additional Duty of Customs commonly known as…
The Delhi Bench of the Income Tax Appellate Tribunal ITAT has ruled that ABN Amro Bank, Stockholm, cannot be considered a resident of Sweden as per the Double Taxation Avoidance…
To enhance security and streamline transactions in the capital markets, the Securities and Exchange Board of India SEBI has mandated the use of standardized and verifiable UPI IDs…
The Income Tax Appellate Tribunal ITAT has granted relief to Bharti Airtel, ruling that the Income Tax Department cannot deviate from its own established position regarding the…
OpenAI, the creator of ChatGPT, is reportedly in talks to raise a colossal funding round of up to $40 billion. The potential investors include some of the world's largest…
The Delhi Bench of the Income Tax Appellate Tribunal ITAT has ruled that a tax addition cannot be made solely based on a sales mismatch in Form 26AS, especially when the…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT has allowed a massive refund of Rs 1.67 crore for service tax paid on "fit-out services" used in office renovation.…
The Directorate General of Foreign Trade DGFT has issued a notification regarding the Standard Input-Output Norms SION for the export of Sodium Citrate. This chemical, which has…
The Income Tax Appellate Tribunal ITAT has set aside a penalty levied under Section 270A of the Income Tax Act for under-reporting of income. The penalty was cancelled because the…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT has ruled that a refund of unutilized CENVAT credit cannot be denied to a business unit solely because the unit was…
Logistics and supply chain services company Delhivery has dissolved its wholly-owned subsidiary in the United Kingdom, Delhivery UK Ltd. The dissolution was completed through a…
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