The Competition Commission of India CCI closed an investigation into Jammu & Kashmir Bank, finding no evidence that its loan covenants with borrowers violated anti-trust laws.…
01/05/20251 min read
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The Competition Commission of India CCI closed an investigation into Jammu & Kashmir Bank, finding no evidence that its loan covenants with borrowers violated anti-trust laws.…
April 2024 saw UPI transactions decline marginally to 17.89 billion—the first drop after months of growth—indicating market saturation in India’s digital payments ecosystem.…
Oyo launched Townhouse Café, a quick-service restaurant chain, marking its return to the food business after earlier exits. The move diversifies Oyo’s hospitality-centric model…
Eternal Zomato’s parent firm posted a 64% YoY revenue jump in Q4 FY25, driven by Blinkit’s quick-commerce surge. However, profitability plummeted 78% due to high delivery and…
The Tamil Nadu government has introduced a new scheme offering financial incentives to boost local manufacturing of electronics components. Aimed at strengthening the state's…
Paytm's cloud computing arm has established a new subsidiary in the UAE with an initial investment of 2.1 million. This marks Paytm's strategic expansion into Middle Eastern…
Ola Electric has postponed deliveries of its much-anticipated Roadster X motorcycle, originally scheduled for June 2024, to late Q3 2024. The company cites supply chain challenges…
Adani Group has temporarily suspended negotiations with Israel′sTower Semi conductor for a proposed 10 billion chip manufacturing joint venture. The pause follows the group's…
Indian electronics manufacturer Dixon Technologies has entered a joint venture with Taiwan's Inventec to produce laptops, tablets, and servers in India. The 60:40 partnership…
UPI transactions recorded a slight decline to 17.89 billion in April 2024 from March's 18.07 billion, marking the first monthly drop in 2024. The dip is attributed to seasonal…
Zomato removed approximately 19,000 restaurants from its platform in Q4 FY25 as part of its quality control measures. The delisting targeted establishments with poor hygiene…
OYO is diversifying into food and beverage through two new verticals: cloud kitchens under 'OYO Kitchens' and quick-service restaurant carts. The hospitality giant plans to…
YouTube announced a ₹850+ crore investment in India's creator economy over the next three years. The funds will support creator workshops, equipment access programs, and regional…
India's market regulator SEBI has introduced a new cybersecurity framework classifying market entities into three risk categories based on size and operations. Large brokers,…
Early-stage venture fund Aikyam Capital has secured ₹105 crore in commitments for its debut fund targeting climate tech and sustainability startups. The fund plans to make 15-20…
Blinkit and Airtel have temporarily suspended SIM card home delivery services following stricter DoT KYC guidelines. The telecom department raised concerns about potential…
Muthoot Finance's CEO clarified that Tamil Nadu's new money lending bill primarily targets unregulated operators, not RBI-registered NBFCs. The legislation introduces stricter…
The Reserve Bank announced a ₹1.3 lakh crore government securities buyback to inject liquidity into the banking system. This unconventional move aims to address tight liquidity…
Jubilant FoodWorks received CCI clearance for its 40% acquisition in Coca-Cola's Indian bottling operations. The ₹1,500 crore deal marks Jubilant's diversification beyond Domino's…
ITAT quashed a ₹14 lakh addition made under Section 69A of the Income Tax Act, accepting the assessee's explanation regarding cheque discounting for working capital. Section 69A…
Calcutta High Court ruled that GSTR-9 annual return must be considered for Input Tax Credit ITC claims not reflected in GSTR-3B monthly return . This decision provides relief to…
The Income Tax portal is reportedly facing technical issues, making the filing of TDS Tax Deducted at Source forms 15G and 15H difficult for individual taxpayers. These forms are…
ITAT set aside additions made under Section 68 of the Income Tax Act and directed a fresh assessment, allowing the taxpayer to file additional evidence. Section 68 deals with…
MCA Ministry of Corporate Affairs has penalized a company and its directors for non-compliance with Section 134 5 of the Companies Act. Section 134 5 relates to the Directors'…
ITAT ruled in favor of an NGO, citing principles of natural justice in an ex-parte case. An ex-parte order is passed when one party is absent. The tribunal likely found that the…
Goa Finance Department clarified the correct method for recording discounts in tax invoices under the GVAT Goa Value Added Tax Act, 2005. This clarification aims to provide…
RBI has mandated banks and ATM operators to ensure the availability of ₹500 and ₹2000 notes in ATMs. This directive aims to address concerns about the availability of higher…
DGFT Directorate General of Foreign Trade has invited stakeholder comments on the alignment of export policy with amendments made in the Finance Act. This indicates that the…
Madras High Court permitted the rectification of clerical errors in GSTR-1 returns beyond the statutory timelines under the CGST Act. The court recognized that genuine mistakes of…
Telangana High Court ruled that used vehicles brought into Telangana must pay life tax, even if they have already been taxed in another state. The court upheld the state's levy of…
ITAT directed the Assessing Officer AO to revisit penalty proceedings after the completion of a de novo fresh assessment. The tribunal reasoned that the outcome of the…
ITAT struck down a reassessment, stating that the ₹50 lakh threshold for issuing a late notice was not met. The Income Tax Act specifies certain conditions and thresholds for…
ITAT allowed an appeal in a demonetization-era case, finding the CIT A 's Commissioner of Income Tax Appeals order deficient in reasoning. The tribunal observed that the appellate…
ITAT deleted an addition made towards unexplained investment in property after verifying the source of the investment from fixed deposits. The assessee was able to provide…
ITAT deleted an addition made towards the validity of money due to a lack of proper verification by the assessing officer. The tribunal found that the tax authorities did not…
ITAT ruled that an order of the appellate authority seeking requisite information must be complied with. The tribunal emphasized the obligation of assessees to provide necessary…
CESTAT ruled that sales to a distributor managed by family members constitute a related party transaction. This determination has implications for transfer pricing and tax…
Calcutta High Court directed the West Bengal Commercial Tax Board to verify documents, including original tax invoices, and conduct a fresh consideration of issues related to VAT…
RBI has mandated the use of the PRAVAAH portal for all regulatory applications from May 1. This move aims to streamline the application process for entities regulated by the RBI.…
Orissa High Court ruled that individual lawyers providing legal services are exempt from service tax or GST. The court's decision likely stems from the interpretation of relevant…
SEBI Securities and Exchange Board of India has notified the second amendment to the Infrastructure Investment Trusts InvITs Regulations, 2025. InvITs are investment vehicles that…
A Delhi court extended the custody of an accused Chartered Accountant CA and an Income Tax Department official in a case related to the sabotage of a faceless assessment. This…
CESTAT quashed a service tax demand for the construction of residential complexes before July 2010. The tribunal reasoned that service tax was not applicable to such construction…
CESTAT ordered a de novo fresh adjudication due to the failure of the tax authorities to verify the excise duty paid before issuing a Show Cause Notice SCN . The tribunal…
ITAT accepted a Vivad se Vishwas settlement in a HUF Hindu Undivided Family share transaction dispute, concluding the matter. The Vivad se Vishwas scheme was introduced to resolve…
ITAT restored an addition made to sales during demonetization for fresh adjudication, citing a violation of natural justice. The tax authorities had likely made additions to the…
ITAT set aside a CIT Commissioner of Income Tax order denying Section 10 23C registration to an educational institution, citing a lack of opportunity for the institution to…
CESTAT ruled that logistics income derived from ocean freight mark-up should be considered trading profit and not taxable service. The tribunal distinguished between providing…
Bombay High Court upheld income tax reassessment proceedings in a case involving the non-disclosure of funds routed through tax havens. The court found that the failure to…
Allahabad High Court ruled that an order under Section 75 6 of the GST Act cannot stand merely on the reference of Show Cause Notices SCNs . The court emphasized that the final…
The Competition Commission of India CCI closed an investigation into Jammu & Kashmir Bank, finding no evidence that its loan covenants with borrowers violated anti-trust laws.…
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