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India's auto sector witnessed $1.5 billion in mergers and acquisitions M&A deals in the first quarter of 2025, despite a lull in Initial Public Offerings IPOs . This significant…
The Madras High Court set aside a ₹230.55 crore GST demand against the Indian Railway Finance Corporation IRFC . The High Court found irregularities in the manner in which the…
An allegation of a ₹4.69 crore fake GST refund has surfaced against a State Tax Officer STO . The accused STO is alleged to have fraudulently processed and sanctioned bogus GST…
The Lucknow District Commission held Vishal Mega Mart liable for charging ₹18 for a carry bag. The commission found this practice to be an unfair trade practice, as the retailer…
The Lucknow District Commission held Karbonn Mobiles, its service center, and the seller liable for failing to repair or replace a defective mobile phone. The consumer had…
The Consumer Commission held a marble dealer liable for unfair trade practices for selling defective material. The commission found that the dealer had supplied substandard marble…
The CESTAT observed that supplies amidst imports and IGST over inter-state trade supplies have a similar tax rate structure. The tribunal was addressing a case involving the levy…
The Authority for Advance Ruling AAR ruled that GST is applicable on invoices issued for goods supplied under a fraudulent order, even if no payment was received. The AAR reasoned…
The Jharkhand High Court held that a 17-month delay in filing a GST appeal is not condonable under Section 107 of the CGST Act. The court strictly interpreted the statutory…
Royal Challengers Bengaluru RCB has sued Uber in the Delhi High Court over a disparaging advertisement featuring cricketer Travis Head. RCB alleges that Uber's promotional…
Citing the episode of Draupadi from the Mahabharata, the Delhi High Court discharged a man in an adultery case. The court reasoned that the concept of adultery, as previously…
The Supreme Court has scheduled a hearing on May 9th to consider the applicability of Section 223 of the Bharatiya Nyaya Sanhita, 2023 BNSS to Prevention of Money Laundering Act…
The Delhi High Court confirmed that paintings gifted by well-known artists, evidenced through Diwali cards and signed letters, are indeed gifts and deleted a ₹34.67 lakh addition…
The National Financial Reporting Authority NFRA has debarred 85 chartered accountants until 2025 due to audit lapses. These disciplinary actions follow investigations into audit…
The Delhi High Court clarified that Form ITNS-150 constitutes a valid assessment order under Section 143 3 of the Income Tax Act. Any subsequent rectification of such an order…
The Insolvency and Bankruptcy Board of India IBBI has suspended a liquidator for misconduct. The suspension follows an inquiry into the liquidator's actions during a liquidation…
The NCLAT dismissed appeals filed by BYJU'S, BCCI, and Riju Raveendran against an NCLT order regarding a settlement. The appeals challenged the National Company Law Tribunal's…
The ITAT remanded a ₹5.41 crore TDS disallowance related to a US remittance for reassessment under the India-US Double Taxation Avoidance Agreement DTAA . The tribunal observed…
E-way bill generation in India reached a record 12 crore in March, the highest since the GST's inception, signaling a robust close to the financial year 2025. This surge indicates…
The Delhi High Court upheld the income tax exemption granted to IBFS for its fund deployment in BARC, a not-for-profit organization. The court reasoned that IBFS's investment in…
An allegation of a ₹4.69 crore fake GST refund has surfaced against a State Tax Officer STO . The accused STO is alleged to have fraudulently processed and sanctioned bogus GST…
The International Financial Services Centres Authority IFSCA has notified the KYC Registration Agency KRA Regulations, 2025, outlining the framework for registration and operation…
The Central Board of Direct Taxes CBDT has initiated a significant reshuffle within the Income Tax Department, transferring several senior officials across different regions. This…
The Madras High Court set aside a ₹230.55 crore GST demand against the Indian Railway Finance Corporation IRFC . The High Court found irregularities in the manner in which the…
IPL franchise Royal Challengers Bengaluru RCB has dragged ride-hailing giant Uber to court over alleged trademark misuse in an advertising campaign. RCB claims that Uber's…
IPEC, an electric vehicle EV charging solutions provider, has secured $3 million in funding from Gruhas, a venture capital firm. This investment will be utilized by IPEC to expand…
In the ongoing Mahadev betting case, the Enforcement Directorate ED conducted raids at premises linked to Nishant Pitti, a co-founder of online travel aggregator EaseMyTrip. The…
The CESTAT ruled that hydrogen gas compression does not constitute 'manufacture' under the Excise Act and set aside an excise duty demand. The tribunal held that the process of…
India set a new record for e-way bill generation in March, reaching the highest number since the implementation of the Goods and Services Tax GST . The record-breaking 12 crore…
MSTC Limited received an income tax demand of ₹178 crore due to discrepancies in Tax Deducted at Source TDS filings. The tax authorities identified mismatches between the TDS…
US President Donald Trump suggested that tariffs could potentially replace the income tax system in the United States. He argued that tariffs on imported goods could generate…
A Bhiwani auto driver received an income tax notice for ₹31.67 crore, arousing suspicion of a potential data entry error or a case of identity theft. The exorbitant amount…
The Allahabad High Court rejected the bail application of a GST fraud accused, stating that the confession of a co-accused shall be considered in economic offenses. The court…
The ITAT ruled that no income tax is payable on a new flat received in exchange for an old one, deleting the addition made under Section 56 2 x of the Income Tax Act. The tribunal…
The Allahabad High Court stayed recovery proceedings related to GST on services provided by electricity transmission or distribution utilities. The court admitted a writ petition…
The CESTAT held that refund recovery proceedings initiated without a proper review of the sanction order are invalid. The tribunal emphasized the necessity of a thorough review…
The ITAT ruled in favor of allowing the State Government's contribution to the State Government Funds SGF as a business expense. The tribunal held that these contributions, made…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT denied CENVAT credit on rent-a-cab services due to non-compliance with Rule 2 l of the CENVAT Credit Rules. The…
The Allahabad High Court held that Section 93 of the GST Act does not empower tax authorities to make tax determinations against a deceased assessee. The court quashed the tax…
The National Company Law Tribunal NCLT ruled that insufficiently stamped agreements do not constitute a bar to the application for initiating the Corporate Insolvency Resolution…
The ITAT confirmed a ₹4.10 crore addition under Section 69 of the Income Tax Act, upholding the courts' authority to dismiss cases where the assessee defaults in appearing or…
The ITAT remanded a ₹5.41 crore TDS disallowance related to a US remittance for reassessment under the India-US Double Taxation Avoidance Agreement DTAA . The tribunal observed…
The Income Tax Appellate Tribunal ITAT set aside the Commissioner of Income Tax Appeals order regarding cash deposits made by the Cochin Co-operative Society. The ITAT remanded…
The Income Tax Department is increasingly leveraging artificial intelligence to monitor high-value financial transactions, enhancing its ability to detect potential tax evasion…
E-way bill generation in India reached a record 12 crore in March, the highest since the GST's inception, signaling a robust close to the financial year 2025. This surge indicates…
Medikabazaar is facing a substantial ₹279 crore indemnity claim from its investors, who allege financial misstatements by the company. This development follows the recent ousting…
ITC is set to acquire the 24 Mantra Organic brand in a deal valued at ₹472.5 crore. This acquisition marks ITC's strategic expansion into the rapidly growing organic food market,…
India's auto sector witnessed $1.5 billion in mergers and acquisitions M&A deals in the first quarter of 2025, despite a lull in Initial Public Offerings IPOs . This significant…
Tide, a UK-based fintech company, has partnered with eMSME to launch GST and Udyam registration and scheme discovery report solutions specifically designed for small and…
The Finance Ministry has set a ₹17.31 trillion INR 17.31 lakh crore lending target for Public Sector Banks PSBs towards Micro, Small, and Medium Enterprises MSMEs for the…
India's auto sector witnessed $1.5 billion in mergers and acquisitions M&A deals in the first quarter of 2025, despite a lull in Initial Public Offerings IPOs . This significant…
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