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The Income Tax Department recently conducted searches at 44 premises across multiple cities in India, following allegations of tax evasion amounting to over Rs 170 crore. The…
A distressed Chartered Accountant CA posted on X formerly Twitter about the lack of staff or officers at the Laxmi Nagar Income Tax office in Delhi. The CA reported sitting at the…
The deadline for the Direct Tax Vivad Se Vishwas DTVSV scheme, which allows taxpayers to settle disputes with reduced penalties, is fast approaching. The scheme, introduced to…
The Chhattisgarh High Court ruled that the non-extension of a contract without following due process violates the principles of natural justice. The case involved a dispute over…
The Madras High Court quashed the Arumughaswamy Commission's report against Tamil Nadu Minister Vijayabhaskar, citing lack of proper evidence and procedural flaws. The report had…
The ITAT rejected the taxability of services as "fees for technical services" FTS under the India-Netherlands tax treaty. The case involved a dispute over whether certain payments…
A review was sought in the Supreme Court against its previous order that rejected a plea to confiscate electoral bond donations. The petitioner argued that the electoral bonds…
The NCLAT ruled that a financial creditor can still file an application under Section 7 of the Insolvency and Bankruptcy Code IBC even after the initiation of recovery proceedings…
The Directorate General of Foreign Trade DGFT has announced the extension of the free import policy for pigeon peas for one year. The decision is aimed at ensuring a stable supply…
The NCLAT clarified that an authorised representative in the Insolvency and Bankruptcy Code IBC process can be replaced through the procedure outlined in Regulation 163A of the…
The ITAT ruled that no addition can be made to the assessee’s income based on retracted statements. The case involved the revenue's attempt to use a statement made by the…
The NCLAT ruled that a payment slip will not be sufficient to establish retention allowance as part of salary in the absence of supporting documents. The case involved a dispute…
The Delhi High Court ruled that issuing two orders under Section 73 of the GST Act for the same tax period was prima facie unsustainable. The case concerned an assessment where…
A major GST fraud involving senior GST officials, transporters, and a mafia network has been exposed, linking them to a multi-crore tax evasion scheme. The operation involved the…
The Bombay High Court imposed exemplary costs on the complainant and Enforcement Directorate ED for filing a cooked-up case against a developer. The court found that the case…
The Directorate General of Foreign Trade DGFT has introduced the Diamond Imprest Authorization Scheme under the Foreign Trade Policy 2023 to facilitate smoother import-export…
The NCLAT ruled that an application under Section 7 of the Insolvency and Bankruptcy Code IBC can be recalled if it is proven that fraud or malicious intent was involved in…
The Delhi High Court ruled that the local sale of duty-exempt imports violates export obligations under the Advance Authorization Scheme. The case involved a company that had…
The Central Board of Direct Taxes CBDT has introduced new income tax rule 6GB, establishing conditions for non-residents engaged in cruise ship operations. The new rule aims to…
The Delhi High Court ruled that no addition could be made in the hands of an assessee based solely on retracted statements. In a case concerning a taxpayer, the Assessing Officer…
The Delhi High Court upheld a penalty of over a crore rupees against a seller, stating that the Settlement Commission's order could not be selectively dissected to avail of…
The Income Tax Department raided the offices and residence of Dil Raju, the producer of the popular film "Pushpa: The Rise", in connection with alleged tax evasion. The raids were…
The Gauhati High Court held that the Commissioner must specify the necessity of arrest when issuing orders for arrest under Section 69 of the CGST Act. The case involved a dispute…
The Karnataka RERA Real Estate Regulatory Authority held Shriram Properties liable for delayed possession of a homebuyer’s property and ordered the payment of Rs. 1.277 lakh as…
The Competition Commission of India closed a complaint against Honda Motorcycle filed by a former dealer, concluding that the dispute was commercial in nature rather than a…
The Supreme Court flagged concerns over banks granting loans without proper title search reports. The issue was brought to light when it was discovered that some loans had been…
The Supreme Court issued a notice regarding a plea for a CBI or SIT investigation into the murders of three members of a Dalit family in Madhya Pradesh. The plea called for a…
The Supreme Court referred the issue of MSMED Act’s writ maintainability and the role of MSEFC members as arbitrators to a larger bench. The case raised important questions about…
The Supreme Court expressed its dissatisfaction with Andhra Pradesh's failure to remove illegal encroachments and unauthorized structures from the Kolleru Lake area. The Court…
The Supreme Court ruled on the issue of sudden and grave provocation in the context of Section 300 of the Indian Penal Code IPC , which deals with murder. The Court discussed the…
Tenants of Settls, a platform that connects landlords and renters, have alleged significant delays in the return of their security deposits. Many tenants complained that despite…
Zomato's shares fell by 12.78% following the release of its Q3 financial results, disappointing investors. Despite growth in revenue, the company faced challenges in improving its…
PB Fintech shares dropped nearly 5% following a decline in investor confidence. The company, known for its flagship platform Policybazaar, has faced increasing market pressure due…
Skydo has obtained a license from the Reserve Bank of India RBI to offer cross-border payment services. This development marks a significant milestone for the fintech company as…
The Department for Promotion of Industry and Internal Trade DPIIT has signed a pact with Apna, a professional networking platform, to boost employment in the startup ecosystem.…
Swiggy’s shares experienced a sharp 11% decline, hitting an 8-week low at INR 427.20, after investors reacted negatively to the company’s financial performance and outlook. The…
Reliance has entered the cryptocurrency space with the launch of JioCoin, a new digital currency. This move represents the company’s foray into blockchain and digital currency…
Bharat Value Fund, a private equity firm, has marked the first close of its third fund at INR 1250 crore. The fund aims to invest in high-growth startups and businesses across…
IndiaMart’s Q3 profit surged 48% year-on-year to INR 121 crore, reflecting strong growth in its core business. The company, which operates an online marketplace connecting buyers…
SEBI is considering allowing the trading of when-listed securities to enhance market efficiency and liquidity. This proposal was discussed by SEBI Chairperson Madhabi Puri Buch,…
Gameskraft's FY24 profit slipped by 11% to INR 947 crore, which is a decline compared to the previous fiscal year. The company, known for its online gaming platform, faced…
Celsius, a consumer tech startup, is in talks to raise INR 125 crore from investors including Omnivore. The funding round is expected to help Celsius expand its product offerings…
The Delhi Real Estate Regulatory Authority RERA is set to mandate that builders advertise and sell projects based on carpet area rather than super built-up area. This new…
MahaRERA Maharashtra Real Estate Regulatory Authority is organizing open houses in Nagpur and Pune to facilitate project registrations for real estate developers. The initiative…
Tata Consultancy Services TCS has become the second global IT giant to surpass a brand valuation of USD 21 billion. The company’s strong performance in the global IT services…
The government’s equity infusion into Rashtriya Ispat Nigam Limited RINL signals a shift in policy towards bailing out a struggling public sector unit PSU . The move aims to…
MSTC, a public sector undertaking PSU , has transferred its 100% stake in Ferro Scrap Nigam Limited FSNL to Konoike Transport Co., marking a significant shift in the company’s…
The Competition Commission of India CCI has approved the merger of Agro Tech Foods, Bharti Enterprises, and DMPL India with Del Monte Foods. The deal is expected to create…
PharmEasy, an online pharmacy platform, is planning to relaunch its initial public offering IPO despite a revenue decline in 2023. The company aims to raise capital to fund its…
The latest updates on the Indian stock market on January 21, 2025, indicate mixed market performance with key indices experiencing fluctuations. Investors are keeping a close…
The Income Tax Department recently conducted searches at 44 premises across multiple cities in India, following allegations of tax evasion amounting to over Rs 170 crore. The…
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