News & Judgements

ITAT upheld the CIT A 's decision to limit the estimation of gross profit rate and unverifiable purchases. The tribunal's decision ensures that estimations are reasonable and…

ITAT set aside the Pr. CIT's order for penalty proceedings under Section 271B due to lack of jurisdiction. The tribunal's decision protects taxpayers from penalties imposed…

ITAT deleted an addition of unexplained cash deposit during demonetization, accepting the mother's savings claim. This decision highlights the importance of considering individual…

DGFT notified the supply of essential commodities to Maldives for FY 2025-26 under a bilateral agreement. This notification ensures continued trade relations between India and…

Delhi HC quashed an FIR against a CA due to a lack of corroborative evidence for criminal conspiracy and bribery. This decision protects professionals from baseless accusations.…

Gujarat HC ruled that no Section 263 notice can be issued after resolution plan approval on the extinguishment of corporate debtor's tax liabilities. This decision provides…

Delhi HC directed customs to sensitize officials on the detention of personal gold and old jewelry of air travelers. This ruling aims to prevent undue harassment of travelers. The…

An SBI sanitation worker in UP, earning a low monthly income, received an income tax notice. This case highlights potential discrepancies in the tax system. This incident raises…

ITAT remitted a matter to the AO due to non-prosecution of appeal caused by non-issuance of notices. The tribunal's decision ensures that procedural errors do not prejudice…

ITAT restored a matter to the AO due to the denial of a fair opportunity and inadequate evidence examination. The tribunal's decision ensures that taxpayers receive a fair…

NCLT ruled that land sold by third parties to a corporate debtor cannot be held liable under Section 66 of IBC. This decision clarifies the scope of liability in insolvency…

NCLT ruled that a liquidator must not restrict the sale of corporate debtor's assets through private sale to a single buyer and should attract multiple buyers. This decision aims…

ITAT quashed the PCIT's order under Section 263 for relying on an audit objection. The tribunal's decision protects taxpayers from orders based on mere audit objections. This…

NCLT ruled that advance payment received by a corporate debtor for the future supply of goods is an operational debt under IBC. This decision clarifies the definition of…

MOS Harsh Malhotra stated that the IBC has been strengthened with 6 amendments and 122 reforms, with over 8,000 CIRPs initiated and ₹3.58 lakh crore realized. This reflects the…

NCLT ruled that the threshold limit for initiating the insolvency process against personal guarantors shall be the same as that of the corporate debtor. This decision ensures…

ITAT allowed bad debt write-off without proof of irrevocability, protecting legitimate transactions. The tribunal's decision provides relief to taxpayers facing genuine bad debts.…

ITAT favored JCB India, rejecting arbitrary royalty adjustments, and directed the TPO to follow advance pricing agreement standards. The tribunal's decision protects taxpayers…

CBIC will launch e-processing for imports and exports via air passengers from May 1, 2025. This initiative aims to streamline customs procedures for air travelers. The…

Mandatory two-factor authentication 2FA is now required for the e-way bill and e-invoice system. This measure enhances the security of online transactions. The 2FA requirement…

ICAI has launched an online panel to address bank branch audit queries. This initiative aims to streamline the audit process for bank branches. The online platform will provide…

GST revenue for March increased by 9.9% year-over-year, reaching ₹1.96 lakh crore. This growth indicates a strong performance in indirect tax collections. The rise in revenue…

Jars’ $50 million funding deal fell through due to valuation differences. This incident highlights the challenges in reaching valuation consensus. The failed deal underscores the…

Paisabazaar received a ₹9 crore tax demand notice. This tax demand highlights the regulatory challenges faced by fintech companies. The notice underscores the importance of tax…

IPO-bound Groww issued bonus CCPS to Peak XV and other backers. This move is a part of the company's financial strategy ahead of its public offering. The issuance of CCPS reflects…

Apna Mart’s revenue surged 85% to ₹59 crore in FY24. This growth indicates strong performance in the retail sector. The revenue increase reflects effective business strategies.…

Andhra High Court discussed the scope of judicial review. This discussion highlights the court's role in overseeing administrative actions. This analysis emphasizes the limits and…

Reliance Jio and other GPU L1 bidders in the IndiaAI mission will soon receive workloads. This initiative aims to boost AI development in India. The distribution of workloads…

Daalchini’s revenue jumped 56% to ₹18.3 crore in FY24. This growth reflects the company’s expanding market presence. The revenue increase indicates effective business operations.…

Madras High Court considered a citizenship application of an Indian woman with Sri Lankan parents. The court addressed the complexities of citizenship laws in cases involving…

The government has picked 10 private entities as third-party testing agencies for testing coal samples. This move aims to enhance transparency and efficiency in coal quality…

FSSAI received 21,000 complaints against food delivery apps in five years. This data highlights consumer concerns regarding food safety and service quality. The complaints reflect…

Zomato has granted ESOPs worth ₹442 crore. This move aims to incentivize employees and align their interests with the company's growth. The ESOP grant is a common practice in tech…

Over 13 lakh electric 2-wheelers and 3-wheelers were sold in FY25, according to government data. This sales figure reflects the increasing adoption of electric vehicles in India.…

Shark Tank fame Innergize has secured funding to address mental health issues. This investment aims to support the company’s mental health services. The funding reflects the…

Beams Fintech Fund has joined Infinity Fincorps’ captable. This investment aims to support Infinity Fincorps’ growth in the fintech sector. The funding reflects investor interest…

RBI greenlit the BlackSoil Caspian debt merger. This approval facilitates the consolidation of debt financing operations. The merger aims to enhance efficiency and expand market…

Atomberg has crossed ₹1,000 crore in revenue in FY25. This revenue milestone indicates strong growth in the company's consumer electronics business. The company's performance…

CCI cleared 360 ONE’s acquisition of Ranjan Pai’s stake in PharmEasy. This decision ensures compliance with competition regulations. The clearance facilitates the consolidation of…

Meesho co-founders have exercised ESOPs ahead of the company's IPO. This move indicates confidence in the company's future performance. The ESOP exercise is a common practice…