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The ITAT upheld the deletion of additions made on unsecured loans, accepting that the assessee had proved the identity, genuineness, and creditworthiness of lenders through…
The ITAT held that expenditure on ordinary dunnage materials used for packing and safeguarding goods qualifies as revenue expenditure and not capital in nature. The Tribunal…
The Bombay High Court upheld the Assessing Officer’s method of valuing property at ₹22 lakh using comparable market instances, ruling that notional interest cannot be added to…
Finance Minister Nirmala Sitharaman cautioned that excessive populist subsidies and large fixed liabilities are straining state finances, leading to reduced capital expenditure…
India and Israel concluded a strategic defence-cooperation agreement aimed at joint development of advanced weapon systems, technology transfer, and cybersecurity collaboration.…
The Calcutta High Court stayed a ₹196 crore GST demand, observing that authorities relied on a rule omitted from the CGST Rules. The Court held that enforcement based on deleted…
The Punjab and Haryana High Court ordered the release on bail of business partners accused of fabricating firms to claim fraudulent GST input-tax credits. While noting prima-facie…
The ITAT upheld Section 11 income-tax exemption for the Tata Social Welfare Trust, holding that bonus shares received as an accretion to existing investments do not constitute a…
The ITAT ruled that tax audit provisions cannot apply when turnover is below prescribed limits under Section 44AB. Additions made by the Assessing Officer were deleted. The…
The article discusses an ongoing Supreme Court appeal concerning the classification of fish oil ethyl esters under the Customs Tariff Act. The dispute arises from whether the…
This article highlights an ITAT ruling where delayed deposit of employees’ ESI contributions was made before the due date of filing the income tax return, leading to deletion of…
The ITAT ruled that commission payments to non-resident agents for services rendered outside India are not taxable in India and thus not subject to TDS. The Tribunal relied on…
The Gauhati High Court quashed a GST demand order issued without a proper show-cause notice as required under DRC-01. The Court held that failure to adhere to procedural…
The Madras High Court granted temporary relief to an assessee whose refunded sale advance was taxed as unexplained income. While the Department sought recovery, the Court stayed…
The Bombay High Court ruled that municipal ratable value is not conclusive for determining the annual letting value ALV under Section 23 1 a of the Income Tax Act. The Assessing…
The National Financial Reporting Authority NFRA released a series of audit toolkits to strengthen audit quality and assist small and medium-sized accounting firms. These toolkits…
Hyderabad-based fintech startup Zynk raised $5 million in seed funding led by Hivemind Capital and Coinbase Ventures to enhance cross-border payments infrastructure. The article…
Senior politician and author Shashi Tharoor described dynastic politics in India as a “grave threat” to the country’s democratic fabric. The article covers his remarks made at a…
The Enforcement Directorate ED seized land worth ₹4,462 crore at Dhirubhai Ambani Knowledge City in connection with a bank fraud case involving Reliance Communications. The…
The Institute of Chartered Accountants of India ICAI announced proposed amendments to its Code of Ethics aimed at modernizing the CA profession. Key reforms include raising audit…
The Delhi High Court ruled that law students cannot be automatically barred from appearing in exams due to attendance shortages without evaluating individual circumstances. The…
This article covers a Delhi High Court decision setting aside a GST demand order passed without examining the taxpayer’s sundry creditors’ ledgers. The Court observed that the…
The Income Tax Appellate Tribunal ITAT upheld the income tax return of actress Aishwarya Rai Bachchan, deleting a disallowance of ₹4.11 crore made under Section 14A of the Income…
The article explores the implications of new 2025 EPFO rules governing Provident Fund corpus withdrawals. It analyzes whether the amendments relax or tighten access to funds…
The Karnataka High Court granted interim stay on criminal defamation proceedings filed by a former IAS officer against Republic Kannada and its anchors. The Court observed that…
The article examines the Delhi High Court’s ruling upholding Customs authorities’ action in issuing show cause notices SCNs within the limitation period under the Customs Act. The…
The Andhra Pradesh High Court, in this case, corrected a wrongful GST recovery from a taxpayer whose GSTIN was mistakenly linked to a defaulting company. The article elaborates on…
This article discusses a Gujarat High Court judgment affirming that the National Company Law Tribunal NCLT has the authority to order a lessee to vacate property belonging to a…
The article provides a comprehensive analysis of legal and financial compliance for NRIs selling property in India. It explains how capital gains arising from such transactions…
The National Company Law Tribunal admitted insolvency proceedings against Tirumalla Agro Industries for loan default. The petition was filed by a financial creditor, leading to…
The ITAT granted partial relief to the assessee by limiting addition on alleged bogus purchases to 5%, representing estimated profit margins. The Tribunal emphasized that only…
The article examines GST applicability on Swiggy’s “rain fee,” a surcharge levied during bad weather. It discusses whether such a fee constitutes a taxable supply under GST and…
The Income Tax Appellate Tribunal ruled that unspent portions of a research grant cannot be treated as taxable income until utilized for the project. The bench held such funds as…
Following a Supreme Court directive questioning withholding of MGNREGA funds, the Central Government is reassessing resumption of the rural employment scheme in West Bengal.…
The article reports that eyewear brand Lenskart’s IPO was oversubscribed 5.3 times on the third day of the issue. It details investor demand, institutional and retail subscription…
Headnote: The Bombay High Court ruled that occupants of premises under an expired leave and license agreement cannot claim tenancy protection under Section 15A of the Bombay…
Headnote: The Bombay High Court held that a writ petition challenging the findings of an Internal Complaints Committee ICC under the Sexual Harassment of Women at Workplace…
Headnote: The Bombay High Court held that a writ petition under Article 226 of the Constitution challenging the findings of an Internal Complaints Committee ICC constituted under…
Headnote: The Delhi High Court upheld the conviction of the appellant under Section 6 of the Protection of Children from Sexual Offences POCSO Act, 2012, and Sections 363 and 376…
Headnote: The Delhi High Court granted regular bail to an accused charged under Sections 137 2 /127 2 /64/87/123 of the Bharatiya Nyaya Sanhita, 2023 and Section 4 of the…
Headnote: The Delhi High Court dismissed the State’s appeal against the acquittal of the accused, Mohd Zahid, under Section 308 IPC attempt to commit culpable homicide ,…
Headnote: The Delhi High Court dismissed the State’s appeal under Section 378 CrPC against the acquittal of the respondent accused in a case under Section 308 IPC attempt to…
Headnote: The High Court held that the phrase “coercive measures” used by the Bench in an earlier order did not automatically encompass all investigative steps such as freezing of…
Headnote: The Delhi High Court quashed an FIR registered under Sections 498A, 406, and 34 of the Indian Penal Code IPC after the husband and wife amicably settled their…
Headnote: The Enforcement Directorate ED has provisionally attached ₹35.80 crore under the Prevention of Money Laundering Act, 2002 PMLA , in connection with a large-scale illegal…
Headnote: The Enforcement Directorate ED has provisionally attached over 132 acres of land at Dhirubhai Ambani Knowledge City DAKC in Navi Mumbai worth ₹4,462.81 crore under the…
Headnote: The Enforcement Directorate ED conducted extensive multi-state search operations under the Prevention of Money Laundering Act, 2002 PMLA , targeting M/s S R Alcobev Pvt.…
Headnote: The Enforcement Directorate traced and provisionally attached assets and bank balances amounting to approximately ₹ 35.80 crore across more than 300 bank accounts which…
The article presents the results for the CA Intermediate examination of September 2025, showing overall pass percentage, top scorers’ profiles and detailed marksheet analysis. It…
In Jammu, the bi-annual tradition of the Darbar Move — shifting of the secretariat between Jammu and Srinagar — was revived after four years with significant fanfare. The article…
The ITAT upheld the deletion of additions made on unsecured loans, accepting that the assessee had proved the identity, genuineness, and creditworthiness of lenders through…
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