News & Judgements

The Finance Ministry updated customs values for key commodities like edible oils and precious metals to reflect current market prices. These revisions in tariff values,…

The Telangana High Court applied limitation principles to delayed payment claims under MSME laws, preventing stale claims from being pursued indefinitely. The court ruled that…

The Delhi High Court reiterated that GST disputes over alleged fraudulent Input Tax Credit ITC must follow the statutory appeal mechanism rather than writ jurisdiction. The court…

The Delhi High Court directed a GST dispute to the statutory appeal process after noting procedural issues weren't raised during initial hearings. The court reiterated that writ…

The Delhi High Court ruled that unexplained credit provisions Section 68 do not apply to pre-April 2023 unsecured loans if properly recorded in books, providing clarity on Section…

The Delhi High Court limited the benefits of Form 10-IC condonation only to companies opting for the Section 115BAA tax rate, dismissing a broader interpretation petition. The…

The Reserve Bank of India RBI expanded the eligibility criteria for 'stripping' and 'reconstituting' government securities STRIPS , allowing more participants in this market…

The Delhi High Court ruled that full recovery claims for liquidated damages require proof of actual loss, preventing automatic compensation without evidence. This decision impacts…

The Finance Ministry adjusted import duties on edible oils including refined palm oil, palmolein, and soyabean oil and extended exemptions for yellow peas to stabilize domestic…

The Delhi High Court dismissed a GST appeal review petition, reaffirming that delays in Section 107 appeals cannot be condoned beyond the statutory limit. The court maintained a…

The National Company Law Appellate Tribunal NCLAT ruled that employment contract disputes fall outside the jurisdiction of the Insolvency and Bankruptcy Code IBC . The tribunal…

ITAT upheld additions for alleged bogus purchases in a hawala transaction case due to the taxpayer's failure to provide rebuttal evidence. The ruling reinforces tax authorities'…

ITAT held that interest received on enhanced compensation is taxable as "Income from Other Sources," rejecting exemption claims. The decision clarifies the tax treatment of…

ITAT deleted income additions for unexplained property purchases, finding insufficient evidence to support the tax authority's claims. The ruling emphasizes that for the tax…

The Income Tax Appellate Tribunal ITAT ruled that goodwill depreciation remains allowable under income tax laws, setting aside an order that disallowed it based on Ind AS…

The Tamil Nadu government reduced entertainment tax rates following actor Kamal Haasan's request, aiming to support the film industry. The tax cut is expected to benefit cinema…

The Madras High Court directed re-assessment in a GST input mismatch case where no details or hearing were provided, subject to a deposit. While dismissing a writ petition…

The Allahabad High Court criticized a VAT assessing authority for issuing "copy-paste" orders that ignored remand directions, and ordered disciplinary action against the concerned…

The Customs, Excise and Service Tax Appellate Tribunal CESTAT quashed an excise duty demand on BMW India, stating that the post-clearance fitment of fuel adaptors does not qualify…

The Calcutta High Court ruled that provisions of the Insolvency and Bankruptcy Code IBC override the Income Tax Act, prioritizing insolvency proceedings over tax claims. The court…

The Calcutta High Court held that handling goods under a composite agreement cannot be split for separate service tax demands, ruling in favor of the taxpayer. The court…

The Madras High Court conditionally allowed a hearing opportunity in a GST Input Tax Credit ITC denial case where non-compliance with a circular was alleged. The court emphasized…

The Maharashtra Appellate Authority of Advance Ruling AAAR ruled that Rotary Club membership and admission fees are not taxable under GST. The tribunal classified these fees as…

The Calcutta High Court upheld an Income Tax Appellate Tribunal ITAT order deleting additions made on unexplained cash deposits during demonetization. The court ruled in favor of…

The Consumer Affairs Ministry, in coordination with the Ministry of Home Affairs MHA and Department of Telecommunications DoT , has notified guidelines banning the sale of illegal…

A2Z Infra Engineering Ltd faced a ₹5.19 crore GST demand, including a penalty of ₹3.53 crore, due to alleged credit note discrepancies for the period FY 2017-18 to FY 2019-20. The…

The Finance Ministry has recommended that the Reserve Bank of India’s RBI draft gold loan rules exclude small borrowers loans below ₹2 lakh and be implemented from January 2026.…

SEBI barred actor Arshad Warsi, his wife Maria Goretti, and 57 other individuals from accessing the securities market for up to five years in a stock market manipulation case. The…

National Fertilizers Ltd NFL received a ₹94.84 crore GST demand notice for an undue refund of accumulated Input Tax Credit ITC . The order, for the period April 2018 to December…

GSTN has mandated separate HSN-wise reporting for B2B and B2C transactions in GSTR-1, effective April 1, 2025. The new rule, an update to Table 12 of Form GSTR-1, enhances…

The Indian government released provisional unaudited accounts for FY 2024-25, showing total receipts of ₹30,78,247 crore 97.8% of corresponding Revised Estimates and total…

Defence Minister Rajnath Singh praised UPI as a "game-changer" and hailed GST as a model of national economic integration at the CII Business Summit 2025. He highlighted how…

The Central Board of Direct Taxes CBDT has included Sikkim under Section 80-IE, allowing tax deductions for businesses in the state via a corrigendum. This amendment extends…

Finance Minister Nirmala Sitharaman urged tax officials to uphold trust and transparency while addressing GST registration complaints. She emphasized the importance of taxpayer…

Tamil Nadu farmers demand insurance - Farmers in Ramanathapuram, Tamil Nadu, have demanded the disbursal of crop insurance amounts and flood relief during a grievance meeting.…

Agri credit growth slows - Reserve Bank of India RBI data indicates a slowdown in credit growth to the agriculture sector. For the fortnight ended March 21, the bank credit growth…

Karnataka warns MSMEs against Chinese dependence - The Karnataka government has urged Micro, Small, and Medium Enterprises MSMEs to reduce their dependence on China for machinery…

Telangana RERA orders 11% interest for delayed projects - The Telangana Real Estate Regulatory Authority TGRERA has ordered a Hyderabad-based builder to refund 62 homebuyers with…

UPI dominates retail payments - The Unified Payments Interface UPI has significantly strengthened its dominance in India's digital retail payments ecosystem. According to the…

Grammarly raises $1B - Grammarly, the AI-powered writing assistant, has secured $1 billion in non-dilutive financing from General Catalyst's Customer Value Fund CVF . This…

IVCA urges VC funds to comply with SEBI - The Indian Venture and Alternate Capital Association IVCA has issued a reminder to all legacy Venture Capital Funds VCFs to comply with…

Oyo rebrands parent company - Hospitality tech major OYO is looking to rename its parent company, Oravel Stays, as part of a strategic move ahead of its anticipated Initial Public…

FSN E-Commerce Nykaa Q4 results - FSN E-Commerce Ventures, the parent company of Nykaa, reported strong financial results for Q4 FY25. The company's net profit nearly tripled to…

Battery Smart raises $29M - Battery swapping operator Battery Smart has secured $29 million as part of its ongoing Series B funding round. The funding was led by existing investor…

Payu strengthens board pre-IPO - Payments firm PayU is bolstering its board of directors with new appointments as it prepares for an initial public offering IPO on the Indian…