The Delhi High Court held that the clean slate doctrine under the Insolvency and Bankruptcy Code IBC prevents the Income Tax Department from reopening assessments excluded from…
06/05/20251 min read
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The Delhi High Court held that the clean slate doctrine under the Insolvency and Bankruptcy Code IBC prevents the Income Tax Department from reopening assessments excluded from…
The Delhi High Court ruled that the limitation period under Section 153C of the Income Tax Act begins from the date of document transfer from the AO of the searched person to the…
The Patna High Court upheld an order under Rule 86A 1 of the CGST Rules, citing valid reasons for blocking Input Tax Credit ITC . The court found the tax authority’s action…
The Madras High Court condoned a 192-day delay in a GST case, considering the accountant’s failure to inform proceedings and the proprietor’s sickness. The court acknowledged…
The Central Board of Direct Taxes CBDT has tightened oversight on top advance taxpayers to boost direct tax collections for FY26. The measure involves closer monitoring of…
The Income Tax Department has recovered ₹1,400 crore from 63,000 donors linked to dubious political donations. The investigation revealed violations in political funding, with…
The Central Board of Indirect Taxes and Customs CBIC has directed GST officers to ensure timely submission of records to Comptroller and Auditor General CAG audit teams. This…
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…
The ITAT quashed reassessment proceedings for two AYs, stating that cash deposits only create suspicion, not a "reason to believe" for reopening cases.
The ITAT confirmed the CIT A ’s deletion of an addition as the revenue failed to produce contrary evidence, upholding the appellate order’s validity.
State-run Telecommunications Consultants India Ltd TCIL has been excluded from Bharti Hexacom's tower asset valuation process as the parties renegotiate their infrastructure…
The Finance Ministry has notified five Non-Banking Financial Companies NBFCs for Aadhaar-based authentication under the Prevention of Money Laundering Act PMLA . This move aims to…
The Delhi High Court quashed income tax reassessment proceedings against GE Renewables, citing no tangible evidence of a permanent establishment in India.
The ITAT quashed an addition under Section 69A, accepting cash deposits as explained through pension and property sale proceeds.
The Madras High Court dismissed a petition due to lack of proof and e-way bills, denying an ITC claim and underscoring the importance of documentation.
Logistics startup 91Trucks has initiated its Series A funding round with a remarkable 5.5x valuation surge compared to previous rounds. The tech-enabled trucking platform plans to…
CESTAT allowed full Cenvat credit on printing machine cylinders, classifying them as essential components rather than standalone items.
Madras HC quashed an ITC reversal order for late claims, ruling the time limit should consider subsequent amendments extending the deadline.
Supreme Court affirmed that NCLT/NCLAT cannot review ED's PMLA actions, maintaining distinct jurisdictions under insolvency and anti-money laundering laws.
CESTAT ruled mere book entries labeling income as commission don't automatically attract service tax under BAS, requiring substantive examination of services rendered.
GSTN has implemented biometric Aadhaar authentication for new GST registrations in Sikkim to combat fraudulent registrations and fake input tax credit claims. Applicants must now…
State-owned telecom operator MTNL has defaulted on interest payments for ₹6,100 crore worth of sovereign-guaranteed bonds, raising fresh concerns about its financial stability.…
The Karnataka High Court has ruled that MSMEs which are closed or wound up cannot benefit from NPA revival schemes under relevant government guidelines. This judgment clarifies…
Several major Indian banks including SBI and HDFC have revised their fixed deposit interest rates following the RBI's latest monetary policy announcement. These adjustments…
Public sector lender Indian Bank has set an ambitious target to recover ₹6,500 crore in non-performing assets during FY26. Managing Director Binod Kumar outlined plans to achieve…
Investment analyst Gary Black has warned that Tesla's market valuation could drop by 25% if Elon Musk were to step down as CEO. Black's analysis emphasizes Musk's unique role in…
Duplicate of summary 5 - Unicommerce revenue growth
Venture capital firm Titan Capital has released its "Indicorns 2025" list identifying 50 potential unicorns, with fintech startups dominating the selection. The report highlights…
Wearable technology company Oura has won an initial legal victory against competitor Ultrahuman in a patent infringement case. The court ruling in Oura's favor sets an important…
Tata Electronics is in advanced discussions with Dutch semiconductor firm NXP for a potential collaboration at its upcoming chip fabrication plant. This partnership would…
Skilling platform FinX has acquired BSE Institute to expand into AI and fintech training programs. This strategic acquisition allows FinX to enhance its course offerings while…
SaaS e-commerce platform Unicommerce reported 70% year-over-year revenue growth in Q4 FY25, driven by increasing adoption of its logistics and fulfillment solutions. The FirstCry…
Edtech startup Genwise, backed by Z47 Ventures, has reduced its workforce by 20% as part of restructuring efforts to optimize costs. The company, which specializes in upskilling…
Fintech NBFC DMI Finance has significantly expanded its employee stock ownership plan ESOP pool to $105 million, reflecting its focus on talent retention during rapid growth. The…
Electric vehicle ride-hailing company Evera Cabs has acquired 500 EVs from competitor BluSmart in a strategic move that signals consolidation in India's electric mobility sector.…
The Supreme Court sought the Centre's response on a petition challenging the blocking of a YouTube news channel. The court issued notice on allegations of arbitrary censorship,…
The Bombay High Court initiated suo motu proceedings to address delays in child adoption approvals, seeking explanations from concerned authorities. The court highlighted the need…
The Delhi High Court refused interim relief to Royal Challengers Bangalore in a suit against Uber's advertisement featuring Travis Head. The court found no prima facie case for…
The Allahabad High Court held that a nominee in an insurance policy does not acquire absolute ownership of the proceeds, and succession laws govern the distribution. The court…
The Calcutta High Court ruled that the absence of express liberty to file a fresh execution petition after withdrawal does not automatically bar the benefit of Section 14 of the…
The NCLAT dismissed an appeal against DLF under Section 61 of the IBC, finding that multiple communications between parties proved the existence of a pre-existing dispute…
The NCLAT held that the absence of an assignee's name in a corporate debtor's balance sheet does not invalidate the applicability of Section 18 of the Limitation Act. The tribunal…
The CESTAT ruled that service tax is applicable on commissions received by distributors from companies for sales generated by their teams. It held that such commissions constitute…
The Supreme Court questioned the Enforcement Directorate's complaint in the Chhattisgarh liquor scam case, noting the absence of substantial evidence. The court stressed the need…
The Supreme Court ruled that the insurer of a tractor is liable to compensate for the death of a passenger in a trailer attached to it, if the accident resulted from the tractor's…
The Himachal Pradesh High Court held that MGNREGA workers cannot be classified as regular employees under labor laws and are only entitled to benefits under the scheme. The court…
The Calcutta High Court ruled that an arbitrator considering alternative propositions while passing an interim award does not amount to inherent contradiction or perversity. The…
The Delhi High Court observed that the trial court committed an error in granting bail to Arvind Kejriwal in a money laundering case related to Delhi's excise policy. The court…
The Calcutta High Court struck down a provision that allowed penalties on consumers for excess electricity usage, declaring it arbitrary and unreasonable. The court held that…
The Bombay High Court took suo motu cognizance of significant delays in child adoption processes and directed authorities to expedite pending cases. The court highlighted systemic…
The Delhi High Court held that the clean slate doctrine under the Insolvency and Bankruptcy Code IBC prevents the Income Tax Department from reopening assessments excluded from…
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