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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…
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 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…
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…
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…
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 Kerala High Court, while addressing a case related to cosmetic surgery, has observed that informed consent is a critical element in medical procedures, especially those that…
The Karnataka High Court has granted interim bail to the marketing head of the Royal Challengers Bengaluru RCB IPL team and representatives of an event management company who were…
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…
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…
Digital payments and financial services company Paytm has added a fresh tranche of Employee Stock Options ESOPs to its pool, worth approximately Rs 215 crore. The company's board…
A group of artists has filed a lawsuit against the AI art generator Midjourney, which has now expanded to include major entertainment companies like Disney and Universal as…
Digital payments major PhonePe has offloaded a 5% stake in the publicly listed mapping and location technology firm, MapmyIndia. The transaction, executed through a block deal on…
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…
Venture capital firm WestBridge Capital is investing $30 million in the used-car retailing platform, Spinny. This investment marks WestBridge's entry into Spinny's cap table and…
E-commerce unicorn Meesho is reportedly in the final stages of its "reverse flipping" process, which is expected to be completed within a few days. Reverse flipping is the complex…
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…
The Bombay High Court has refused to grant "well-known" trademark status to the popular short-video platform, TikTok. A "well-known" status provides a higher degree of protection…
Expressing dissatisfaction over a three-year delay in deciding an income tax appeal, the Madras High Court has directed the Commissioner of Income Tax Appeals CIT A to dispose of…
The Madras High Court has emphasized that GST officers must apply their minds properly when serving notices and should not treat the process as a mere formality. The court's…
In a major relief for Hindustan Unilever Limited HUL , the Customs, Excise and Service Tax Appellate Tribunal CESTAT has ruled that the company's skin care products sold under the…
The Income Tax Appellate Tribunal ITAT has restored the 80G registration application of a trust, giving it a second chance to be heard. The trust's application for approval under…
The Income Tax Appellate Tribunal ITAT has clarified that the Central Processing Centre CPC cannot make a prima facie adjustment to deny a cooperative society's claim for…
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 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 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…
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 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…
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 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 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…
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 an advisory following the filing of over 3 lakh applications under the GST amnesty scheme for appeals. This scheme, introduced…
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 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…
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…
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