News & Judgements

The Kerala GST department issued clarifications and instructions on issuing separate notices under Sections 73 and 74 of the KSGST Act. These instructions aim to streamline the…

The ITAT remanded a case involving cash deposits during demonetization back to the AO for further investigation. The taxpayer had deposited significant amounts during the…

The DGFT has revised the import policy for patrol boats, air cushion vehicles, and remote-operated vehicles. The revision provides greater clarity and specific guidelines for…

The Ministry of Corporate Affairs MCA imposed a penalty on directors for deactivating their DINs due to non-filing of DIR-3 KYC. The deactivation of the Director Identification…

The ITAT deleted a Rs. 10 crore addition regarding share application money, ruling that the onus shifted to the Income Tax Department to disprove the genuineness of the investors.…

The Ministry of Heavy Industries has urged the government to cut GST on CNG-powered two-wheelers, bringing them in line with electric vehicles. The proposal aims to promote…

The ITAT granted an opportunity for a trust to present its case after the rejection of its registration under Section 12A due to insufficient activities. The trust had been denied…

The Delhi High Court ruled that the revenue cannot extend the reassessment notice period solely due to prior litigation delays. The Court emphasized that the period for issuing…

The document identification number DIN structure in GST laws was explored, focusing on its relevance and legality. DIN is used to track notices issued by authorities and ensures…

The ITAT upheld the CITA's decision to delete an addition regarding unexplained cash credit. The taxpayer had satisfactorily explained the source of the cash credit, and the…

The ITAT remanded the case to the CITA for failure to file a return and pay taxes. The taxpayer had not filed their tax return and failed to make the necessary tax payments. The…

The ITAT ruled against the disallowance for non-deduction of TDS on reimbursements, deeming the disallowance unjustified. The tax authorities had argued that TDS should have been…

The ITAT set aside the NFAC order due to the denial of video conferencing without sufficient justification. The petitioner had requested a virtual hearing, but the request was…

The ITAT ruled that interconnect charges between telecom operators are not subject to tax as royalty. The case focused on whether charges paid by telecom operators for connecting…

The ITAT directed the recalculation of Air India's exempt income, rejecting the disallowance made under Rule D of the Income Tax Act. The dispute involved the allocation of…

The ITAT quashed the rejection of FCRA registration, ruling that the authorities failed to provide specific details on the violation. The Foreign Contribution Regulation Act FCRA…

The ITAT has allowed a taxpayer’s marketing expenses to be classified as revenue expenditure, thus removing the disallowance under Section 37 of the Income Tax Act. The case…

The CESTAT ruled that refund adjustment against confirmed demand during the pendency of an appeal is not permissible. This decision arose in a case where a taxpayer attempted to…

The CESTAT ruled that excise duty cannot be demanded for the period during which manufacturing machines were not in operation. The case involved a manufacturer of gutka products,…

The CESTAT dismissed the appeal of Concor India, ruling that the importation of refrigerant gas in cylinders requires prior permission from the Controller of Explosives. The case…

The CESTAT ruled that premium or salami charges for renting out immovable property are subject to service tax. The case involved a dispute over whether charges collected for…

Eicher Motors is facing a GST demand due to credit mismatches in its transitional claims. The company had claimed input tax credits ITC on goods and services procured during the…

The CESTAT ruled that the Appellate Authority can condone delays of up to 30 days as per the provisions of the Finance Act. This ruling clarifies that the Appellate Authority has…

The Income Tax Appellate Tribunal ITAT has directed the Income Tax Department to carefully examine the generation and operations of agricultural income. The case involved a…

The CESTAT ruled that a Show Cause Notice SCN demanding service tax on the wrongful availing of input tax credits after a three-year period is not valid. The ruling upholds the…

Volvo has been permitted to import internal combustion engines under the Duty-Free Import Authorization DFIA license, as there are no specific restrictions on such imports under…

The Kerala High Court ruled that the issuance of a consolidated Show Cause Notice SCN for multiple years is permissible under Section 74 of the CGST Act. The ruling clarifies that…

The Bombay High Court has directed the Income Tax IT Department to restore the Section 87A tax rebate in the Income Tax Return ITR utility. Section 87A provides a rebate of up to…

Senior citizens in India are hoping for increased tax exemptions and better returns on savings schemes in the Union Budget 2025. With inflation eroding their fixed income, they…

The CBDT has declared critical Income Tax IT systems as "protected systems" under Section 70 of the IT Act, 2000. These systems include those responsible for tax filing, refunds,…

The NCLAT ruled that creditors are not barred from enforcing personal guarantees signed on behalf of a corporate debtor, even if they are part of a trust. The judgment ensures…

In a case involving unexplained income, the ITAT ordered the AO to delete an addition based on past savings explanation. The taxpayer had shown substantial savings from earlier…

The ITAT dismissed the revenue's appeal on cash deposits and cessation of liabilities due to low tax effect. The Tribunal ruled that the revenue's appeal lacked substantial…

The article discusses the growth of various startups across sectors like tech, e-commerce, and health. Notably, it features insights into the continued investments in India’s…

Gurgaon has seen a record Rs 88,000 crore in real estate investments in 2024, with a notable rise in luxury housing projects. The city’s real estate sector has experienced rapid…

The Supreme Court has ruled that banks cannot seize a buyer’s flat in cases where developers default on payments to financial institutions. The judgment comes after a legal…

Union banking sector unions have called for the scrapping of taxes on the profits of cooperative banks. The unions argue that the tax burden on cooperative banks, which play a…

The RBI has aligned the rules for Housing Finance Companies HFCs regarding non-convertible debentures NCDs with the regulations governing non-banking financial companies NBFCs .…

Odisha has signed 145 MoUs worth Rs 1.28 lakh crore at its business summit, aimed at fostering economic development and attracting investment to the state. The MoUs cover various…

Prudent Investment Managers is planning to launch an INR 500 crore fund focused on early-stage startups. The new fund will target investments in technology-driven companies that…

Alibaba has unveiled a new AI model that it claims outperforms OpenAI’s GPT-4. The company’s model, known as DeepSeek, is designed to revolutionize AI applications by providing…

Fino Payments Bank has reported flat Q3 profits of INR 23 crore, reflecting a stable performance despite challenges in the broader banking sector. The fintech firm, which offers…

P-Tal, a direct-to-consumer D2C startup, is in talks to raise INR 30 crore in funding. The company, which specializes in innovative wellness products, aims to expand its product…

Ideaforge’s shares have been trading near their lower circuit limit, hitting a fresh 52-week low. The drone manufacturer has faced significant challenges in the stock market, with…

The Delhi High Court has sought a response from OpenAI regarding a copyright case filed against the company. The lawsuit alleges that OpenAI’s ChatGPT infringes on the copyright…