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Lenskart has initiated talks with bankers regarding a potential $1 billion IPO. The eyewear retailer, which has rapidly expanded its footprint in the Indian market, is aiming to…
The NCLT Kolkata ruled that an unsuccessful resolution applicant has no locus standi to challenge the approval of a resolution plan by the Committee of Creditors COC . The case…
The NCLAT held that initiating arbitration proceedings before issuing a demand notice is insufficient to reject an application under Section 9 of the Insolvency and Bankruptcy…
The Kerala High Court ruled on the legal standing of a living will custodian, determining that the custodian must be a competent person as per local body regulations. The ruling…
The Kerala High Court directed the district collector to take appropriate action regarding an elephant running amok in Tirur. The court issued a directive based on reports about…
The Telangana High Court ruled on the transfer of students from one medical college to another under the National Medical Commission Act. The decision followed an appeal regarding…
The ITAT confirmed the taxability of trust receipts under Section 56 2 x of the Income Tax Act, citing the inclusion of non-relatives as beneficiaries. The tribunal ruled that the…
The ITAT dismissed the tax liability claim of a charitable trust, remanding the matter back to the CIT A for reconsideration of expenditure claims. The tribunal directed that the…
The NCLAT ruled that immovable property cannot be transferred based on an unregistered instrument. The case involved the transfer of property rights based on a document that was…
The NCLAT ruled that a successful auction purchaser of an insolvent company cannot be compelled to pay the pre-CIRP Corporate Insolvency Resolution Process electricity dues. The…
In an important ruling, the NCLAT held that the unilateral revocation of a guarantee does not discharge the guarantor’s obligations. The case involved a creditor who sought to…
The CESTAT has remanded the case for fair assessment after customs authorities failed to provide contemporaneous import data to support the increased customs duty on a company.…
The ITAT quashed the penalty under Section 271 1 c of the Income Tax Act and directed the Assessing Officer AO to reconsider the quantum of addition. The penalty was levied on the…
The CBIC Central Board of Indirect Taxes and Customs has extended the GSTR-1 filing deadline due to ongoing issues with the GST portal. The extension was granted to provide…
The NCLAT ruled that the benefit of the Limitation Act applies to the last payment made by the corporate debtor within the period of limitation. The decision clarifies that if a…
The Enforcement Directorate ED has uncovered a large international black money operation involving Chartered Accountants CAs and hawala operators using shell companies. The…
Mintoak, a payment solutions provider, has closed a secondary funding deal of INR 71 crore with Z3Partners, a venture capital firm. The funding will allow Mintoak to scale its…
The CESTAT Kolkata set aside a penalty imposed on a steamer agent, ruling that goods loaded without proper documents cannot be exported without clearance from customs officials.…
Ola Electric's stock prices fell by 5% amid a broader market decline, reflecting investor concerns about the company’s growth trajectory and the overall market conditions. Despite…
The Bombay High Court has granted relief to Shri Sai Baba Sansthan Trust by halting the reopening of its income tax assessment for the Assessment Year 2014-15. The court’s…
The Madhya Pradesh High Court ruled that a Muslim husband has the right to seek divorce under the Family Courts Act. The ruling addressed a case where the husband sought divorce,…
The CIT Commissioner of Income Tax rejected a claim under Section 12AB of the Income Tax Act, citing related-party transactions without considering the society’s explanations. The…
The NCLAT National Company Law Appellate Tribunal ruled that the unilateral revocation of a guarantee does not discharge the guarantor from his obligations unless the creditor…
The CESTAT Customs, Excise, and Service Tax Appellate Tribunal ruled that manufacturers can claim Cenvat credit for capital goods used in the production of exempt intermediate…
Zypp, an electric vehicle startup, is in talks to raise an additional $35 million as part of its ongoing funding round. The company is seeking funds to expand its fleet of…
The Delhi High Court ruled on the invocation of Section 159 of the Income Tax Act, which allows the issuance of reassessment notices during the lifetime of an assessee. The case…
The Reserve Bank of India RBI has released the draft formats for financial statements of co-operative banks. This is a significant move as it aims to standardize the reporting…
The Kerala High Court ruled that GST cannot be demanded in the absence of any supply of goods or services. This decision clarifies the legal position regarding GST liability,…
The GST portal will be down until 3 PM today, as GSTN works on fixes to address technical issues. The GSTN team is scheduled to work for 70 hours this week on repairs and updates…
The Rajasthan High Court dealt with the maintainability of a criminal revision petition under Section 397 of the CrPC. The court ruled that such petitions must meet the necessary…
Railtel has partnered with Microsoft to establish an AI Center of Excellence, which will focus on developing and implementing artificial intelligence AI solutions across various…
The Chairman of the State Bank of India SBI has advocated for the creation of dedicated institutions to track the end-use of funds raised by small businesses. He emphasized that…
Ahead of the Union Budget, the Gems and Jewellery Export Promotion Council GJEPC has requested the government to reduce the Goods and Services Tax GST rate on gems and jewellery…
The Income Tax Appellate Tribunal ITAT ruled that an agriculturist is not liable for the buyer's non-response to a tax notice. In a case concerning agricultural income, the ITAT…
Incred Equities has initiated coverage on Nykaa with a “Reduce” rating. The investment firm highlighted concerns over Nykaa’s financial performance, citing issues such as slowing…
The Supreme Court dismissed a Public Interest Litigation PIL alleging that currency notes defaced by Kashmiri separatists had been exchanged at an RBI branch. The petitioner…
The ITAT quashed a revision order under Section 264 of the Income Tax Act due to a lack of opportunity for the taxpayer to be heard. The tribunal emphasized that any revision…
Zypp, an electric vehicle startup, is in talks to raise an additional $35 million as part of its ongoing funding round. The company is seeking funds to expand its fleet of…
Ola Electric's stock prices fell by 5% amid a broader market decline, reflecting investor concerns about the company’s growth trajectory and the overall market conditions. Despite…
Incred Equities has initiated coverage on Nykaa with a “Reduce” rating. The investment firm highlighted concerns over Nykaa’s financial performance, citing issues such as slowing…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT granted relief to Bharat Petroleum by ruling that intermixed special kerosene oil is exempt from excise duty when…
The DPIIT Department for Promotion of Industry and Internal Trade has partnered with JK Cement to bolster India's manufacturing ecosystem. The collaboration focuses on enhancing…
Lenskart has initiated talks with bankers regarding a potential $1 billion IPO. The eyewear retailer, which has rapidly expanded its footprint in the Indian market, is aiming to…
The Supreme Court granted relief to actor Mohan Babu, who had been accused of attacking a journalist. The court ordered that the charges against him be revisited, citing concerns…
The Indian government has launched a new credit guarantee scheme for the MSME sector, with an allocation of Rs 100 crore. This initiative aims to provide financial support to…
The Bombay High Court ruled that a father's refusal to consent to his minor child's passport application could not block the process. The case involved a dispute between separated…
The Madhya Pradesh High Court ruled on the appointment of a tree officer for the Indore Municipal Corporation, underscoring the need for proper oversight in the management of…
The Madras High Court stayed proceedings related to the AIADMK party leadership, preventing any actions that would alter the party’s leadership structure until further notice. The…
The Gujarat High Court handled a case involving Mahesh Langa, who was accused of cheating in a business transaction. The complainant had alleged that Langa misrepresented facts…
The Kerala High Court issued a notice to CPI M party members for contempt of court over their statements against a previous ruling. The case revolved around remarks made by party…
Lenskart has initiated talks with bankers regarding a potential $1 billion IPO. The eyewear retailer, which has rapidly expanded its footprint in the Indian market, is aiming to…
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