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The NCLAT has ruled that claims under the Central Excise Act do not constitute secured debts. This decision clarifies the nature of claims made under the Excise Act in the context…
The MCA imposed a penalty on a listed company for failing to appoint a woman director, underlining the significance of gender diversity on boards as per the Companies Act.
The MCA initiated penal actions on a company and its directors for failing to file e-form MGT, highlighting the importance of complying with corporate governance requirements,…
The ITAT has dismissed an appeal under the Direct Tax Vivad Se Vishwas Scheme after the taxpayer withdrew it. The scheme was designed to settle tax disputes, but the taxpayer…
The NCLAT has ruled that a delay of over 30 days in filing an appeal under the Insolvency and Bankruptcy Code IBC cannot be condoned. Kotak Mahindra Bank had requested the NCLAT…
The CESTAT has granted relief to Axis Bank, allowing it to claim CENVAT credit on tax paid for the premium required to operate as a bank. The case involved the bank’s claim for…
In a case of non-appearance due to the COVID-19 pandemic, the ITAT quashed an ex-parte order. It cited the taxpayer's sufficient grounds for non-compliance and emphasized the…
The NCLT ordered the liquidation of Go Airlines India Limited. This decision comes amid financial difficulties faced by the airline, marking a significant step in the insolvency…
CESTAT ruled that CENVAT credit refund was impacted by unjust enrichment, as the duty incidence was passed on to customers. This decision reinforces the principle that refunds…
The CESTAT remanded a matter for reconsideration after rejecting an application for a brand rate under the Duty Drawback Rules based solely on limitation. The tribunal emphasized…
The MCA imposed a penalty on directors of a private limited company for failing to file annual returns for FY 2020-21. The move underscores the need for directors to ensure timely…
The MCA imposed a penalty on directors of a private limited company for not filing annual returns since incorporation. This penalty emphasizes the legal responsibility of company…
The Supreme Court ruled that industrially allotted land should be used by entities capable of generating income and employment. The Court stated that land allocated for industrial…
The Bengaluru court accepted the closure report in a bribery case involving former Karnataka Chief Minister Siddaramaiah, granting him a clean chit. The report stated that there…
Indian startups raised $275 million this week, with notable investments in sectors like infrastructure, technology, and fintech. The funding came from both domestic and…
Indian publishers, following ANI’s lawsuit, have filed a case against OpenAI for copyright infringement. The publishers claim that OpenAI's language model, which powers…
The Delhi High Court ruled that time spent defending a reassessment notice does not extend the limitation period for issuing a fresh notice. The ruling focuses on procedural…
A private limited company was fined Rs. 4 lakhs by the MCA for not maintaining a registered office, emphasizing the legal requirement for companies to have a valid, registered…
A private limited company faced a penalty of Rs. 3 lakh for failing to maintain its registered office. This ruling reiterates the importance of having a compliant and functional…
The Government e-Marketplace GeM has crossed a major milestone, surpassing INR 4 lakh crore in gross merchandise value GMV . This achievement reflects the success of the platform…
Jio has unveiled JioSoundPay, a new initiative designed to simplify UPI payments for small businesses. The new technology will allow merchants to accept UPI payments through a…
RBI Deputy Governor Rabi Sankar highlighted the need for banks to step up and play a key role in ensuring the success of the Uniform Bankable Instrument UBI and Central Bank…
Fino Payments Bank’s ex-employees defrauded its clients and merchants, according to reports. These employees were involved in fraudulent activities such as misappropriating funds…
The Supreme Court ruled that merely stating filthy language is not sufficient to invoke the offense of outraging a woman’s modesty under Section 354 of the Indian Penal Code IPC .…
The MCA penalized a private limited company for non-compliance with beneficial ownership disclosure requirements. This penalty serves as a reminder of the strict disclosure norms…
A private limited company faced a penalty from the MCA for failing to file a copy of financial statements. The ruling highlights the critical role of directors in ensuring…
The MCA imposed a penalty for failing to regularize an additional director in a company. This case underscores the necessity for companies to adhere to formal processes when…
The CBIC issued a warning to taxpayers about fake GST summons being circulated by fraudsters. These counterfeit summons are misleading businesses into making unlawful payments.…
The ITAT upheld the Commissioner of Income Tax Appeals' CITA decision to delete a significant addition concerning undervaluation of closing stock. The tax authorities had added a…
The ITAT ruled against the disallowance of lakhs of rupees in LC discounting charges under Section 36 1 iii , deeming the addition unjustified. The case involved a claim for…
The Delhi High Court ruled that a moratorium under Section 14 of the IBC doesn’t exempt promoters from the mandatory pre-deposit required under Section 43 5 of the RERA Act. The…
The Supreme Court granted bail to a Telangana police officer accused of tapping phones of bureaucrats and judges. The officer's arrest had attracted significant attention, and the…
The NCLAT has directed Meta to pay a penalty while staying the ban on WhatsApp's data-sharing policy. The case revolves around Meta's controversial data-sharing practices, which…
The Delhi High Court recently rejected a plea related to the placement of a show-cause notice SCN , ruling that an excuse based on the call book should not justify the placement.…
WeWork India reported a 27% increase in its revenue for FY24, reaching INR 1,665 crore. The company, which provides co-working spaces, has benefited from the growing demand for…
Maharashtra's Customs Commissioner has launched a new electronic voluntary payment system on the ICEGATE platform. This system allows businesses and importers to make voluntary…
The CBI has arrested a Deputy Superintendent of Police DYSP in a bribery scandal linked to corruption within the customs department. The scandal involves allegations of bribery…
The ITAT upheld the Commissioner of Income Tax Appeals' CITA decision to delete a large income tax addition by relying on past agricultural purchases to determine the gross profit…
The ITAT ruled that the failure to prove benefit alone is not sufficient grounds for transfer pricing disallowance in the case of Bosch Automotive Electronics. The case involved a…
The ITAT condoned a delay in filing an appeal due to a serious dispute among partners. The case was sent back for a fresh assessment with costs, acknowledging the difficulties…
The Bombay High Court disposed of a Public Interest Litigation PIL regarding the eligibility of taxpayers for a rebate under Section 87A of the Income Tax Act. The PIL questioned…
Smallcase Managers have shared their anticipation for income tax reforms and growth-centric policies in the upcoming Union Budget 2025. They expect the government to focus on…
The Kerala High Court ruled on the matter of permanent guardianship for a person with mental illness, allowing limited guardianship for the individual’s welfare. The court's…
The Madhya Pradesh High Court ordered the rehabilitation of elephants at the Bandhavgarh Tiger Reserve, emphasizing the importance of protecting wildlife and their natural…
The Calcutta High Court denied a plea by the VHP to set up a stall at the International Book Fair, ruling that the Publishers Guild, not the state, was responsible for the…
The Madras High Court quashed a rape case involving a false promise to marry, ruling that the relationship was consensual and later turned sour. The court determined that the…
The NCLT dismissed the insolvency petition filed by actor Akshay Kumar, ruling that a claim for liquidated damages requires adjudication before a civil court. The case involved a…
The ITAT ruled that a penalty was not maintainable when the original assessment order no longer existed. In this case, the tax authorities sought to impose a penalty following an…
WeWork India reported a 27% increase in its revenue for FY24, reaching INR 1,665 crore. The company, which provides co-working spaces, has benefited from the growing demand for…
Swiggy has allocated 2.61 crore equity shares under its Employee Stock Option Plan ESOP schemes. The move aims to reward employees for their contributions and retain talent within…
The NCLAT has ruled that claims under the Central Excise Act do not constitute secured debts. This decision clarifies the nature of claims made under the Excise Act in the context…
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