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In the case of deceased assessees with unexplained bank deposits yielding interest, the ITAT has remitted the case for de novo assessment. The tax authorities had flagged the…
The ITAT has deleted a ₹32 lakh addition made to the income of a trader who sold opening stock at discounted rates, leading to higher sales than in previous years. The authorities…
The Supreme Court has ruled that women lawyers will have a 30% reservation in the executive positions of the Delhi Tax and Sales Tax Bar Association. This decision aims to promote…
The daily startup funding roundup for January 23, 2025, highlights significant investment deals and developments in India’s startup ecosystem. Key highlights include several…
The Bombay Stock Exchange BSE Sensex and Nifty indices have experienced fluctuations on January 23, 2025, driven by market sentiment, corporate earnings, and global economic…
Adani Infrastructure has sought clearance from the Competition Commission of India CCI to acquire a majority stake in PSP Projects. This acquisition will enhance Adani's presence…
The Supreme Court of India has directed the Reserve Bank of India RBI to develop a standardized approach for title searches before sanctioning loans against property. This ruling…
Bank deposits in India have seen a growth of 10.83%, reaching INR 221.50 trillion in January. This growth reflects steady improvement in the banking sector, driven by increasing…
The Bombay High Court has quashed GST on leasehold rights, directing authorities to consider the Gujarat High Court’s decision while remanding the matter. The court found that the…
A Gauhati High Court ruling has stated that an order passed under Section 73 of the CGST Act without the signature of the proper officer is ineffective. The judgment highlights…
Inframarket, a construction technology platform, raised INR 1,050 crore at a valuation of $2.8 billion, led by Tiger Global and other investors. This significant funding round…
Maharashtra RERA has tightened scrutiny on developers and advised homebuyers to exercise caution when investing in real estate. The move follows an increasing number of complaints…
A homebuyer has been awarded INR 2.26 crore for a 10-year delay in the possession of their flat. The consumer court ruled that the builder failed to deliver the property within…
MakeMyTrip’s quarterly revenue has surged, driven by a booming demand for travel services. The company reported a significant increase in bookings, attributed to the growing trend…
IIFL Fintech Fund has successfully raised INR 200 crore through its second fund. The fund will be utilized to invest in financial technology companies that are poised for growth.…
Private equity PE and venture capital VC growth in 2024 is expected to face challenges due to macroeconomic pressures, according to a recent report. Despite this, the report…
India saw investment MoUs worth INR 16 lakh crore at the World Economic Forum WEF in Davos, with Maharashtra leading the way. The state signed a series of investment agreements…
DroneAcharya has entered into a strategic merger agreement with AVPL, a move designed to strengthen its position in the drone technology sector. The merger aims to leverage both…
Everstone has announced the acquisition of Wingify, a bootstrapped SaaS company, for $200 million. This acquisition strengthens Everstone's portfolio in the technology sector,…
Spinny, the used-car marketplace, is in discussions to raise over $100 million in an internal funding round. The funding will help Spinny scale its operations, enhance its…
Scaler, an ed-tech company, is on track to achieve nearly INR 400 crore in revenue for FY24, marking a significant milestone. The company also reported a 58% reduction in losses…
Eximius Ventures has launched a $30 million fund for pre-seed investments. This fund is aimed at nurturing early-stage startups and providing them with the necessary capital to…
The Central Consumer Protection Authority CCPA issued a notice to Apple over performance issues in iPhones after a recent software update. The notice follows complaints from…
ArisInfra has successfully raised INR 80 crore via a pre-IPO placement. The funds will be utilized to strengthen the company’s position as it prepares for its public offering. The…
PharmEasy-owned Thyrocare reported a 29% increase in its Q3 profit, reaching INR 19 crore. This growth is attributed to the rise in demand for healthcare services, including…
The Singapore High Court has approved WazirX’s restructuring plans, allowing the cryptocurrency exchange to move forward with its recovery strategy. The court’s approval comes…
DroneAcharya has signed a merger agreement with AITMC Ventures to combine their operations. The merger aims to enhance DroneAcharya’s technological capabilities and expand its…
The NCLAT upheld the Competition Commission of India’s CCI directive allowing WhatsApp users to opt out of the 2021 privacy policy update. The decision came after complaints from…
A Delhi court accepted the CBI’s closure report in a bank loan fraud case involving Prannoy Roy and Radhika Roy. The CBI had investigated allegations of financial irregularities…
A Delhi court refused to entertain a request for an FIR against an art gallery over M.F. Hussain’s controversial paintings. The petition sought action against the gallery for…
Filmmaker Ram Gopal Varma was sentenced to three months in prison for a cheque bounce case. The court found that Varma had failed to honor a cheque issued for payment in a…
The Delhi High Court ruled that consent for sex does not grant the right to share private videos on social media. This decision came in response to a case where an individual…
A petition was filed in the Rajasthan High Court seeking horizontal reservation for transgender persons under the Other Backward Classes OBC category. The petition argues that…
A plea has been filed in the Supreme Court requesting a Central Bureau of Investigation CBI probe into the alleged involvement of an ex-MP and former home minister in the killings…
The NCLAT ruled that an insolvency application against a personal guarantor can be maintained before the National Company Law Tribunal NCLT under Section 60 1 of the Insolvency…
The Reserve Bank of India RBI canceled the registration of X10 Financial Services, a Non-Banking Financial Company NBFC , due to non-compliance with regulatory requirements. X10…
The NCLAT has ordered WhatsApp to pay ₹213 crore as a penalty under the Competition Act for violating anti-competitive practices related to its data-sharing policy. The decision…
The National Company Law Appellate Tribunal NCLAT ruled that extending the moratorium period under Section 101 of the Insolvency and Bankruptcy Code IBC is not allowed without…
The Delhi High Court ruled that once a court orders the release of a bank guarantee furnished by a trader, the Customs Department cannot withhold compliance or direct its…
The Delhi High Court held that the Customs Department cannot run parallel proceedings by issuing a penalty order while a challenge to the show-cause notice SCN is pending before a…
Everstone Group has announced its acquisition of Wingify, a bootstrapped SaaS company, for $200 million. Wingify, known for its growth-focused software solutions, is expected to…
The Supreme Court ruled that a challenge to an arbitral tribunal’s jurisdiction under Section 16 of the Arbitration and Conciliation Act is impermissible after submitting a…
The Supreme Court has referred the issue of whether arbitral awards can be modified under Sections 34 and 37 of the Arbitration and Conciliation Act to a five-judge bench. The…
A plea was filed in the Supreme Court alleging contempt of a November 13 order, regarding the demolition of buildings at Sambhal, Uttar Pradesh, without prior notice. The…
The Supreme Court directed authorities to consider reinstating Tihar Jail officials who were suspended due to alleged collusion with accused individuals from Unitech. The court…
The Supreme Court imposed a cost of Rs. 2 lakh on a petitioner who had repeatedly filed bail applications. The court noted that the petitioner had been abusing the process of law…
The Supreme Court is set to pass an order regarding an application made by the Supreme Court Bar Association SCBA and the Supreme Court Advocates-on-Record Association SCAORA .…
The Karnataka Real Estate Regulatory Authority RERA has directed Ozone Urbana Infra Developers to refund ₹6.16 lakh to a homebuyer for delayed possession. The complaint was filed…
The Supreme Court addressed the issue of witness testimony in cases involving close relatives of victims. The court ruled that while family members can be witnesses, their…
The Supreme Court ruled that a partner in an unregistered firm cannot file a suit for recovery against other partners. This decision was based on Section 69 of the Partnership…
In the case of deceased assessees with unexplained bank deposits yielding interest, the ITAT has remitted the case for de novo assessment. The tax authorities had flagged the…
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