News & Judgements

NCLT National Company Law Tribunal has issued a notice to Larsen & Toubro L&T on an insolvency plea filed over alleged dues of ₹7 crore. The insolvency petition would have been…

Jammu & Kashmir High Court stayed criminal proceedings in an unspecified case. A stay order temporarily halts the progress of legal proceedings. The reasons for the stay could…

Madras High Court set aside the discharge of Minister I. Periyasamy in a disproportionate assets case. A discharge order by a lower court means the accused is freed from the…

The title "Kerala High Court premature release advisory committee" suggests a report or update regarding the functioning or recommendations of this committee. Such a committee…

Karnataka High Court granted ex-parte injunctions in favor of Neil Patel Digital LLC in a dispute over the breach of an LLP Limited Liability Partnership agreement. An ex-parte…

CBIC Central Board of Indirect Taxes and Customs has corrected a date reference in a rescinded circular related to Bangladesh cargo transshipment. This correction aims to rectify…

ITAT ruled in favor of a charitable hospital, stating that its pharmacy income is not a separate business and is exempt under Section 11 of the Income Tax Act. Section 11 provides…

Kerala High Court made observations regarding 'stridhan' property given to a woman at the time of marriage , emphasizing the preponderance of probabilities in determining its…

Delhi High Court ruled that mere quarrels or fights in a marriage or family are not sufficient to establish abetment of suicide. The court emphasized that for an act to be…

The Securities and Exchange Board of India SEBI is investigating Ola Electric for inconsistencies in its February sales data. The probe focuses on potential misreporting of sales…

Verse Innovation, the parent company of news aggregator Dailyhunt and short video platform Josh, received a clean audit opinion from Deloitte for its FY24 financials. A clean…

The Supreme Court has placed a suo motu on its own motion case regarding the Lokpal's jurisdiction to entertain complaints against High Court judges before the Chief Justice of…

ITAT restored a co-operative society's appeal and ordered a fresh hearing on the denial of an ₹1.1 crore deduction under Section 80P of the Income Tax Act. Section 80P provides…

A transport firm withdrew its appeal after opting for the Vivad se Vishwas scheme. The Vivad se Vishwas scheme was introduced by the government to provide a mechanism for the…

CESTAT held that the margin earned on the sale and purchase of cargo space is a trading activity and not liable to service tax. The tribunal distinguished between the service of…

CESTAT ruled that liquid seaweed concentrate is classified as fertilizer, not a plant growth regulator, based on its chemical composition. The classification of a product is…

Karnataka Taxpayers Association highlighted issues in professional tax payment through the online portal and sought a due date extension. The association likely pointed out…

CESTAT allowed a refund claim for CVD Countervailing Duty and ACD Additional Customs Duty on imports, citing the principle of non-passing of the burden of duty. This principle…

CESTAT remanded an export refund dispute related to Terminal Handling Charges THC , suggesting that THC might fall under the category of port services. The tribunal found it…

CESTAT ruled that rebate eligibility on exported services depends on the date of service provision, not the date of payment receipt. Rebate in this context likely refers to a…

Delhi High Court dismissed a writ petition against a GST demand, advising the taxpayer to pursue the appellate remedy available under the GST law. The court reiterated the…

ITAT granted partial relief on minor deposit depreciation claims but disallowed late ESIC Employees' State Insurance Corporation commission payments. This ruling represents a…

Delhi High Court allowed the use of a bank account with a ₹1 crore balance, subject to conditions, in a GST evasion matter where a Show Cause Notice SCN involving a larger amount…

Kerala High Court ruled that an Export Oriented Unit EOU should be treated as customs bonded premises, allowing cashew kernels to be re-processed at the factory. An EOU is a unit…

The Finance Ministry has revised the list of banks authorized for customs duty payment collections. This is essentially the same news as the second link, indicating an update to…

ITAT restored the Section 12A registration of a trust but imposed a ₹2,500 cost on the Chartered Accountant CA for negligence. Section 12A of the Income Tax Act grants tax…

ITAT granted relief to Tata Teleservices, ruling that interest payments made to China Development Bank are exempt under the India-China Double Taxation Avoidance Agreement DTAA .…

CESTAT held that no service tax is applicable on the sale of flats after obtaining the occupancy certificate. The tribunal reasoned that once an occupancy certificate is issued,…

ITAT ruled that no income tax addition can be made solely based on the disclosure of hypothecated stock to a bank. Hypothecation is the pledging of assets as security for a loan.…

ITAT Income Tax Appellate Tribunal rejected allegations of price rigging in penny stock transactions due to a lack of evidence. The tax authorities had likely made additions to…

Delhi High Court granted relief to an assessee, stating that reasons must be provided for the rejection of duty drawback in respect of clean energy cess under customs. Duty…

CESTAT ruled that willful concealment for service tax evasion cannot be attributed when departmental authorities themselves held differing opinions on the taxability of the…

Customs authorities have issued an instruction to close the Attari Integrated Check Post ICP for all movements due to a security alert. The Attari ICP is a crucial border crossing…

The Ministry of Finance has revised the list of authorized banks for the collection of customs duty. This revision likely involves updating the empanelled banks that are permitted…

CBDT Central Board of Direct Taxes has set an ambitious target of ₹2.4 lakh crore for unearthing black money in FY 2025-26. This aggressive target signals the government's…

Urban Company's founders and investors reportedly cashed out ₹1395 crore in pre-IPO deals. This indicates that some early stakeholders in the company have partially liquidated…

IPO-bound Meesho is reportedly renaming its parent company to align its corporate and brand identity. This rebranding exercise is often undertaken before a public offering to…

Concerns about volume growth and valuation are reportedly expected to limit gains in TVS Motor's stock. This suggests that while the company may have positive aspects, analysts…

The 10-year government bond yields fell by 6 basis points following the RBI's announcement of its open market operation OMO plan to purchase bonds. This indicates that the market…

Ather Energy's IPO has received a tepid response, with only 28 percent subscription on the first day. This low initial subscription rate indicates a cautious approach from…

A Bengaluru auto driver is reportedly using ChatGPT AI to assist students. This innovative use of AI in everyday life showcases the accessibility and potential applications of…

Huawei has launched its Ascend 910D AI chip, positioning it as a rival to Nvidia's offerings in the artificial intelligence hardware market. This move highlights the growing…

BrowserStack's co-founders have reportedly invested ₹100 crore in IIT Bombay. This significant philanthropic contribution to their alma mater underscores their commitment to…

Duolingo, the language learning platform, is reportedly planning to stop hiring contractors for work that AI can perform. This decision reflects the increasing capabilities of…

OpenAI has introduced shopping recommendations to ChatGPT search. This new feature integrates e-commerce functionality into the AI-powered search tool, allowing users to get…

CCI Competition Commission of India is reportedly seeking sales data from Apple and Xiaomi as part of its ongoing probe into Amazon and Flipkart. This indicates that the CCI is…

IPO-bound Urban Company is facing GST demands amounting to ₹51 crore. These demands, just ahead of its planned public offering, could raise concerns among potential investors. The…

NPCI National Payments Corporation of India has reportedly directed banks to limit the usage of their check transaction APIs Application Programming Interfaces following a recent…

The Souled Store, a popular merchandise platform, has acquired Redwolf, another player in the pop culture merchandise space. This acquisition is aimed at boosting The Souled…

Primebook, a laptop manufacturer, has secured $2 million in funding from Inflection Point Ventures and other investors. This capital infusion will likely be used by Primebook to…