The ITAT has ruled that there should be no interference with trading results and gross profits if proof of sales, purchases, quantity, delivery, and payment are provided. This…
23/02/20251 min read
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The ITAT has ruled that there should be no interference with trading results and gross profits if proof of sales, purchases, quantity, delivery, and payment are provided. This…
The ITAT has directed the inclusion of Magma Advisory Services as a comparable company, rejecting its exclusion based on negative cash flow. This ruling emphasizes that negative…
Bajaj Electricals faces a substantial GST demand in crores, prompting a detailed review of their tax compliance. This development underscores the stringent scrutiny by tax…
The ITAT has set aside the Principal Commissioner of Income Tax's PCIT revision and upheld a deduction under Section 80IA due to proper Assessing Officer AO review. This ruling…
The ITAT has remanded a matter because neither the Commissioner of Income Tax Appeals CITA nor the Assessing Officer AO accurately computed the taxpayer's income. This ruling…
The CESTAT has set aside a penalty due to the lack of goods confiscation. The tribunal held that penalties cannot be imposed when there is no confiscation of goods. This ruling…
The CESTAT has set aside an extended limitation for service tax on R&D and consultancy under Reverse Charge Mechanism RCM due to a lack of willful suppression. The tribunal found…
The Kerala High Court has directed the revenue authority to refund an amount deposited after the setoff of property tax. This ruling addresses a case where the taxpayer had…
The Chhattisgarh High Court has refused to grant bail for an offense committed under the Prevention of Money Laundering Act PMLA , citing a link with the coal scam. This decision…
The ITAT has ordered the reassessment of unexplained deposits and income due to the failure to serve notices at the correct address. This ruling emphasizes the importance of…
The MCA has imposed penalties on a company and its board of directors for failing to file a copy of the financial statement under Section 137 of the Companies Act. This action…
The IBBI has introduced amendments to the Insolvency Resolution Process IRP of Corporate Persons Regulations, allowing homebuyers to take possession during the Corporate…
The ITAT has deleted additions made for cash deposits and advances under Section 68 of the Income Tax Act, based on recorded sales. The tribunal found that the taxpayer had…
The Supreme Court has removed a High Court's interdict on insolvency proceedings against a personal guarantor, noting that the proceedings were at a threshold stage. This decision…
The ITAT has held that interest on enhanced compensation under Section 28 of the Land Acquisition Act is part of the total compensation and not income. This ruling clarifies the…
The ITAT has ruled that when the department is the custodian of original documents, it cannot blame the taxpayer for not filing the original Sales Tax Registration Certificate.…
Sunil Mittal stated that the SatCom policy should not discriminate against telcos. This statement highlights the importance of fair competition in the telecommunications sector.…
Bank of Maharashtra has reduced interest rates on retail loans by 25 basis points. This move aims to stimulate retail lending and boost consumer spending. The rate cut reflects…
The latest stock market news for February 23, 2025, includes live updates on various market activities. This coverage highlights the dynamic nature of the stock market. It…
IRDAI has asked insurance firms to invest INR 300 crore into the 'Bima Sugam' platform by the end of February. This directive aims to accelerate the development and implementation…
Bajaj Allianz Life has launched the 'Bima ASBA' facility, a new UPI-enabled payment mechanism for policy premiums. This innovation aims to simplify and streamline premium…
Markets are expected to track global cues and FII trading activity. This outlook highlights the interconnectedness of global financial markets. It underscores the importance of…
Schneider Electric plans to open three new plants in India. This expansion highlights the company's commitment to expanding its manufacturing footprint in India. The move reflects…
The Invest Kerala Global Summit has attracted investment proposals worth INR 1.53 lakh crore. This significant interest highlights Kerala's growing appeal as an investment…
Siemens is looking to increase its factory capacity in India, emphasizing its commitment to the "Make in India" initiative. This expansion aims to boost local manufacturing and…
MobiKwik has acquired a 33.9% stake in Blostem Fintech for INR 149 crore. This acquisition highlights MobiKwik's strategic expansion into the fintech lending space. The move…
The RBI has proposed to eliminate pre-payment levies on business loans for MSMEs. This initiative aims to ease the financial burden on small and medium enterprises. The proposal…
The 1 Club is targeting expansion into fintech, aiming for INR 30,000 crore in assets under management AUM within two years. This ambitious goal highlights the company's growth…
The government's new EV policy will cap investment towards charging networks. This move aims to streamline the development of EV infrastructure. The policy seeks to balance public…
Zepto Cafe has hit a 1 lakh order per day milestone, as announced by Aadit Palicha. This achievement highlights the rapid growth of the quick commerce sector. It underscores the…
The government is reportedly set to integrate e-commerce data into the Consumer Price Index CPI . This move highlights the growing importance of e-commerce in the Indian economy.…
Pepperfry's FY24 revenue declined by 31% to INR 189 crore. This decline highlights the challenges faced by e-commerce companies in a competitive market. It underscores the impact…
Ashneer Grover has pulled the plug on his fantasy cricket platform, CrickPe. This decision highlights the challenges of operating in the competitive fantasy sports market. It…
Niyogin has secured INR 56.2 crore through the conversion of warrants into equity. This funding highlights investor confidence in the company's growth potential. It underscores…
Andhra Pradesh is reportedly wooing Tesla for an EV manufacturing facility. This initiative highlights the state's efforts to attract foreign investment. It underscores the…
Good Glamm has completed the sale of its digital media unit, ScoopWhoop, to WLDD. This transaction highlights the ongoing consolidation in the digital media sector. It underscores…
OYO issued a clarification after an advertisement stirred an online row. This action highlights the importance of managing brand reputation in the digital age. It underscores the…
Tesla models are projected to cost over INR 35 lakh in India, even with lower tariffs, according to CLSA. This projection highlights the challenges of pricing electric vehicles in…
The Centre is reportedly considering introducing an ethics code for digital creators. This initiative highlights the government's focus on regulating digital content. It…
Honey Singh's tour and Zomato are set to receive show-cause notices from the Maharashtra Cyber Cell. This action follows allegations of promoting illegal activities. The Cyber…
The Jammu and Kashmir High Court imposed a ₹10,000 fine on a man for filing a PIL against building a hospital near an army establishment. This action underscores the court's…
The Delhi High Court quashed an income tax reassessment notice against Maruti Suzuki. This decision highlights the importance of adhering to procedural requirements in tax…
The Kerala High Court questioned the state's approach in seeking funds from the Centre for Wayanad relief. This inquiry highlights the need for transparent and accountable fund…
The Punjab and Haryana High Court directed authorities to prepare a disaster management plan for residential areas situated at river banks. This decision highlights the importance…
The Delhi High Court addressed a case concerning inter-cadre transfers. This ruling highlights the complexities of administrative law and service regulations. The court's decision…
The Delhi High Court imposed ₹10,000 costs on a PIL regarding illegal constructions near Ajmeri Gate. This action underscores the court's stance against frivolous litigation. The…
The Jharkhand High Court quashed summons and a non-bailable warrant against a Swiss resident, citing non-compliance with the Mutual Legal Assistance Treaty. This decision…
The Rajasthan High Court has ruled that a masjid is a religious place and falls within the definition of waqf, and that a tribunal should adjudicate disputes. This decision…
The Kerala High Court has clarified the scope of seizure under Section 102 of the Criminal Procedure Code CrPC in prevention of corruption cases. This decision provides guidance…
The Allahabad High Court has ruled that the 30-day deadline to show cause under the Oil Marketing Companies' Marketing Discipline Guidelines 2012 is mandatory. This decision…
The ITAT has ruled that there should be no interference with trading results and gross profits if proof of sales, purchases, quantity, delivery, and payment are provided. This…
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