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Chhattisgarh High Court ruled that genuine belief in transaction authenticity constitutes reasonable cause under Section 273B, making penalties under Section 271E applicable only…
The Central Board of Direct Taxes CBDT has notified the new ITR-6 form for Assessment Year 2025-26, introducing several significant changes for companies. The revised form…
Bangalore CESTAT denied service tax exemption for skill development programs lacking NSDC certification, upholding ₹2.7 crore demands against a training provider. The tribunal…
The Delhi High Court clarified that the provision for maximum three adjournments in GST proceedings refers to substantive adjournments, not merely three hearing dates. The court…
The ITAT ruled that merely charging fees does not automatically disqualify a trust from claiming tax exemption under the proviso to Section 2 15 of the Income Tax Act. The…
The Delhi High Court ruled that the three-year time limit for income tax reassessment applies uniformly, regardless of whether the original assessment was conducted under the old…
The Patna High Court upheld the validity of income tax notices where the mandatory Document Identification Number DIN requirement was initially missing but subsequently rectified…
Delhi High Court dismissed a writ petition challenging GST refund rejection, emphasizing the availability of statutory appellate remedies. Justice Sanjeev Sachdeva ruled that…
The Allahabad High Court has ruled that civil suits challenging NPA classifications are barred under Section 34 of SARFAESI Act when the debt involves secured assets. Justice…
Mumbai ITAT ruled that rental income from surplus properties remains tax-exempt for charitable trusts when ancillary to their main objectives. The case involved a medical trust…
B9 Beverages, the parent company of popular craft beer brand Bira, has delayed interest payouts to debt investors who participated through KredX's platform, according to sources…
The Delhi High Court held that payments by Bharti Airtel to overseas telecom operators for bandwidth capacity do not constitute "royalty" under Income Tax Act Section 9 1 vi ,…
Chhattisgarh High Court revised the monetary thresholds for filing income tax appeals, increasing the limit from ₹50 lakh to ₹2 crore for departmental appeals and from ₹1 crore to…
The ITAT dismissed an appeal where the grounds raised were completely unrelated to the subject matter decided by the Commissioner of Income Tax Appeals . The tribunal held that…
The Delhi High Court ruled that there is no independent right to file cross-objections under Section 260A of the Income Tax Act unless the respondent has independently filed an…
The Delhi High Court has invalidated a reassessment notice for alleged escaped income of ₹42 lakh, ruling it was barred by the three-year limitation period under Section 149 of…
A 19-year-old from Faridabad has been arrested for orchestrating a sophisticated ₹64 crore GST fraud using fake iPhone invoices and 42 shell companies. The accused created an…
SEBI has mandated all KYC Registration Agencies KRAs to prominently display a standardized Investor Charter on their websites, detailing client rights and grievance redressal…
The Allahabad High Court has ruled that transferring an old machine from head office to branch for internal use doesn't constitute taxable transfer under income tax laws. Justice…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT strongly criticized the service tax department for adopting a shortcut approach by taxing entire contracts without…
The GST Network has postponed the implementation of invoice-wise reporting functionality in GSTR-7 returns due to unresolved technical glitches. Taxpayers were originally mandated…
The Income Tax Department has launched a special drive to dispose of 200,000 pending appeals involving ₹10 lakh crore in disputed demands during FY26. This initiative focuses on…
The Central Board of Direct Taxes has released the updated ITR-6 form for Assessment Year 2025-26, incorporating 11 new disclosure requirements for companies and LLPs. Key changes…
The Himachal Pradesh High Court dismissed a petition challenging relaxed eligibility criteria for GSTAT Technical Members, upholding the Centre's notification permitting…
The Delhi High Court directed GST authorities to consider adjournment requests from a taxpayer undergoing cancer treatment, staying a ₹1.5 crore demand notice. The petitioner…
The Patna High Court validated Bihar GST authorities' jurisdiction in a ₹28 crore assessment case, rejecting the taxpayer's challenge against parallel proceedings by Central…
The Income Tax Appellate Tribunal ITAT emphasized that the reason for delay in filing tax audit reports should be given more weightage than the length of delay when considering…
The Institute of Chartered Accountants of India ICAI and SEBI have established a joint surveillance mechanism to detect accounting irregularities and audit failures in listed…
The Delhi High Court heard a plea by TV Today Network against the circulation of deepfake videos allegedly defaming the media house. The court examined the legal framework…
The GST Network has temporarily suspended the mandatory invoice-wise reporting requirement in GSTR-7 returns due to persistent technical challenges in its portal. Taxpayers were…
The Central Government has formally affirmed to the Supreme Court its position that all online games involving stakes, regardless of skill elements, should attract 28% GST on the…
The Centre has reconstituted the Quality Review Board under the Actuaries Act 2006 to strengthen oversight of actuarial practices in India. The seven-member board includes…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT has quashed an ₹18 lakh penalty imposed due to discrepancies between income tax and service tax returns, emphasizing…
The Chhattisgarh High Court quashed income tax penalties on a borrower for cash repayment of ₹82 lakh loan, accepting the "lender's instruction" defense under Section 269SS.…
Fuel management platform Nawgati has raised $2.5 million in a pre-Series A round led by climate-tech focused investors. The startup's AI-powered solution helps fleet operators…
Market regulator SEBI has approved IPO proposals from five companies including Veritas Finance and Laxmi India Finance, collectively aiming to raise ₹3,500 crore. Veritas…
SEBI has proposed relaxed delisting norms for public sector undertakings PSUs with over 90% government holding and low public float. The new framework would allow such companies…
Godrej Consumer Products reported a 23% year-on-year increase in Q4 net profit to ₹412 crore, driven by 9% volume growth in domestic markets. The FMCG major's India business grew…
Global private equity firm TPG is acquiring a 35% stake in Schott Poonawalla from Serum Institute for approximately ₹2,800 crore, valuing the specialty glass manufacturer at…
Moody's Investors Service has revised India's 2025 GDP growth forecast downward to 5.8% from 6.3%, citing global trade uncertainties and domestic demand moderation. The ratings…
The Ministry of Corporate Affairs has launched an investigation into EV companies Gensol Engineering and BluSmart Mobility over alleged financial irregularities and governance…
The Indian government has formed a 12-member expert committee to review and modernize the Copyright Act, 1957 in response to emerging challenges from AI-generated content and…
Microbiome-focused startup The Good Bug has raised ₹100 crore in Series A funding led by Fireside Ventures. The gut health company will utilize the capital to expand its probiotic…
Fino Payments Bank has unveiled an ambitious FY26 strategy targeting 20-25% revenue growth through expansion of its CASA deposits and UPI-based services. The digital bank plans to…
Fintech major BharatPe has secured ₹125 crore in debt financing from Neo Group and Trifecta Capital to strengthen its lending operations. The funds will primarily support the…
Ather Energy's shares continued their downward trend after listing, closing the first trading week 12% below the IPO price amid broader market volatility. The EV manufacturer's…
Paytm's board approved the allotment of 1.2 million stock options to employees across various levels, valued at approximately ₹150 crore based on current market prices. This ESOP…
Food delivery major Swiggy is restructuring its cloud kitchen operations by transferring ownership of its eight digital-first food brands to subsidiary Kouzina. This strategic…
Electric vehicle manufacturer Ather Energy made a tepid stock market debut, with shares listing at just 2% above the IPO price of ₹1,200 before closing 6% lower on the first…
Cold-chain logistics startup Celcius Logistics has secured ₹250 crore in a Series B funding round led by a consortium of venture capital firms and strategic investors. The company…
Chhattisgarh High Court ruled that genuine belief in transaction authenticity constitutes reasonable cause under Section 273B, making penalties under Section 271E applicable only…
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