Bombay HC held that acquiescence to a termination notice bars interim relief under Section 9 of the Arbitration Act. The judgment enforces commercial certainty by preventing…
11/05/20251 min read
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Bombay HC held that acquiescence to a termination notice bars interim relief under Section 9 of the Arbitration Act. The judgment enforces commercial certainty by preventing…
CESTAT again emphasized that customs cannot reject declared country-of-origin without conducting proper verification as per FTA protocols. Consistent application of this principle…
Gauhati HC ruled that GST proper officers must issue complete show cause notices under Section 73, not just summaries, to initiate valid proceedings. The judgment upholds due…
A Shapoorji Pallonji Group executive has been named in an ongoing CBI probe into alleged bribery in tax appeal settlements. The FIR references suspicious transactions linked to…
CBDT notified the new ITR-7 form for AY 2025-26 with enhanced disclosures for political parties, charitable trusts and other specified entities. The revised form requires detailed…
Madras HC ordered reopening of GST portal for a taxpayer whose registration was cancelled due to an auditor's incorrect advice about the ₹20 lakh threshold. The court emphasized…
The Supreme Court held that in-charge SHOs are competent to conduct searches under the NDPS Act when the regular station house officer is unavailable. This pragmatic ruling…
CBI conducted raids on an IRS officer's properties in multiple cities investigating alleged disproportionate assets worth ₹3.2 crore. The searches uncovered documents related to…
CESTAT allowed Nokia India's refund claim for excess Countervailing Duty paid, ruling that challenging the original assessment isn't prerequisite for refund. The decision…
CESTAT quashed an excise duty demand based solely on input-output norms without evidence of actual production or clandestine removal. The judgment prohibits theoretical…
CESTAT rejected Royal Enfield's ₹1.79 crore refund claim for SIPOT charges due to a 31-day filing delay, strictly enforcing statutory time limits. The tribunal acknowledged the…
CESTAT classified Dabur's Lemoneez as fruit juice 12% GST rather than soft drink concentrate 18% , granting the company a significant tax benefit. The decision examined product…
CESTAT set aside a customs duty demand that disregarded declared country-of-origin without proper verification. The tribunal mandated that authorities must conduct thorough…
ITAT ruled that reopening assessments beyond four years requires the assessing officer to conclusively prove the assessee's failure to disclose material facts. Mere change of…
ITAT rejected the revenue department's miscellaneous application seeking recall of an order that quashed reassessment proceedings. The tribunal held that once reassessment is…
CESTAT quashed a show cause notice issued to a stainless steel exporter six years after shipment, ruling the proceedings time-barred under Customs Act limitations. The tribunal…
The Central Consumer Protection Authority has issued notices to Amazon, Flipkart and other e-commerce platforms for allegedly selling unlicensed walkie-talkies in violation of…
Escalating India-Pakistan tensions have severely disrupted trade routes, particularly affecting land-based imports through Punjab and Rajasthan borders. Key commodities like…
The government has doubled the loan guarantee limit under the Credit Guarantee Scheme for Startups CGSS from ₹2 crore to ₹5 crore to boost funding access for early-stage ventures.…
NCLAT ruled that amendment of an IBC application isn't permissible if it effectively withdraws an admission of debt. The decision clarifies the limited scope for modifying…
Gauhati HC set aside an ITAT order that ignored Section 292B's validation provisions for minor procedural defects. The judgment reinforces that technical irregularities not…
CESTAT capped redemption fine at 5% and penalty at 1% of re-determined value in an import case, ruling the original impositions were excessive given the bona fide valuation…
Andhra Pradesh HC allowed PepsiCo to claim input tax credit on refrigerators and coolers used in product distribution, rejecting the department's argument that these were…
ITAT granted relief to Jindal Saw by holding that excise duty refunds and sales tax incentives don't constitute taxable income. The ruling distinguishes between business income…
CESTAT dismissed Royal Enfield's delayed service tax refund claim, strictly applying the one-year limitation period. The tribunal rejected arguments about delayed discovery of…
ITAT denied Section 54B deduction for land purchased in the wife's name, strictly interpreting the requirement that the asset must be in the assessee's name. The ruling clarifies…
CESTAT ruled that service tax paid under wrong heads due to lost challans doesn't constitute short payment when the total tax is deposited. The tribunal accepted the taxpayer's…
ITAT deleted additions related to loans and interest payments that were accepted in past years, ruling that revenue cannot reopen settled matters without fresh evidence. The…
CBIC has imposed a 5-year anti-dumping duty on textured tempered glass imports from China and Vietnam, ranging from $41.8 to $243 per metric ton. The duty protects domestic…
ITAT remanded a case for fresh hearing despite the assessee failing to respond to four notices, citing potential merits in the taxpayer's case. The tribunal cautioned against ex…
CBIC has exempted basic customs duty on artworks and antiques imported for public exhibitions, aligning with the Finance Ministry's notification. The exemption covers paintings,…
The government has imposed anti-dumping duties on sodium citrate imports from China and glufosinate from China and Malaysia for five years, following DGTR's recommendation. The…
GSTN has updated the refund process for deemed export recipients, introducing changes to calculation formats, ITC allocation methods, and documentation requirements. The revised…
Delhi High Court set aside a GST order because the show cause notice was uploaded only under the "additional notices" tab without proper intimation to the taxpayer. The court…
Madras High Court condoned a 7-day delay in filing a GST appeal, accepting the taxpayer's argument that the delay was caused by the auditor's oversight and technical issues…
The Finance Ministry has waived basic customs duty on artworks and antiques imported for public display in museums and government-approved exhibitions. This notification aims to…
Finance Minister Nirmala Sitharaman chaired a high-level review meeting on UPI and internet banking security following intelligence reports about potential cyber threats from…
The Ministry of Corporate Affairs has notified key amendments to Ind AS 21 concerning foreign currency exchangeability, effective from April 1, 2025. The revised standard provides…
CESTAT reduced a ₹25 lakh penalty imposed on an importer of rough marble blocks to ₹5 lakh, finding the original penalty disproportionate to the procedural lapse. The tribunal…
CaptainBiz has launched Bill2Pay, an embedded finance solution to accelerate MSME payments and improve cash flow management. The B2B platform's new feature enables instant…
India's retail inflation is projected to ease further to 3% in April, strengthening the case for RBI rate cuts in second half of 2025. The expected dip from March's 3.2% comes on…
BEML has secured 250 acres in Chhattisgarh to establish a INR 1,200 crore heavy earth moving equipment manufacturing facility. The defense PSU's new plant will produce dump…
SEBI's working group has proposed easing gross derivative exposure limits for foreign portfolio investors FPIs from 100% to 150% of AUM. The recommendation aims to enhance…
Swiggy is shifting its quick commerce inventory model to reduce working capital strain, CFO Rahul Bothra revealed. The platform will move from full inventory ownership to a hybrid…
GAIL has signed an MoU with Karnataka government to develop 1 GW renewable energy capacity by 2030 with INR 5,200 crore investment. The state-run gas major will set up solar, wind…
Swiggy's quick commerce vertical Instamart reported INR 1,081 crore losses in Q4 FY25 despite 115% revenue growth, dragging consolidated losses to INR 480 crore. The heavy…
The Indian government has doubled the loan guarantee cap under the Startup India scheme to INR 20 crore per borrower while reducing interest rates by 1.5%. The enhanced limits…
The government has expanded the Credit Guarantee Scheme for Startups CGSS in 2025, increasing the cover to 85% for loans up to INR 5 crore and reducing processing fees by 40%. The…
Dream Sports has joined the ownership group of English League Two football club Salford City FC through its investment arm Dream Capital. The Indian fantasy sports giant becomes…
The Delhi High Court ordered seizure of 129 BluSmart electric vehicles over unpaid dues to vehicle leasing partners. Justice Yashwant Varma directed the EV cab aggregator to…
Bombay HC held that acquiescence to a termination notice bars interim relief under Section 9 of the Arbitration Act. The judgment enforces commercial certainty by preventing…
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