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The Income Tax Department has updated its portal, launching a new Excel-based utility for filing ITR 1, ITR 2, ITR 3, and ITR 4. This new utility is designed to simplify the tax…
Coal India and IREL have entered into a Memorandum of Understanding MoU to collaborate on the development of critical minerals. This strategic partnership aims to bolster India’s…
Accel has launched a new fund aimed at fueling early-stage startups in India. The fund is designed to provide seed capital to high-potential startups in sectors like technology,…
The ITAT Income Tax Appellate Tribunal has quashed an addition to income related to investment transactions with seven companies. The tribunal found that the transactions with two…
The CESTAT has ruled that discounts on the sale of goods do not attract service tax. In this case, Tata Chemicals was given relief when the tribunal ruled that the discounts…
The Madras High Court has directed a re-assessment of GST input tax credits that were denied due to delayed claims. In a recent ruling, the court acknowledged that there have been…
The Taxscan report on transshipment operations examines the taxation aspects of goods moving through intermediate locations without being cleared for import or export. The report…
The Madras High Court has ruled that amounts recovered by GST authorities can be adjusted towards a 25% pre-deposit for appeals. In cases where taxpayers challenge a GST demand,…
The Delhi High Court directed the State Public Works Department PWD to start the construction and repair of washrooms in various court buildings. The court issued the directive…
The Punjab and Haryana High Court ruled that a woman seeking a compassionate job due to her responsibility for maintaining her mother-in-law must demonstrate that her caregiving…
The Rajasthan High Court ruled on the termination of employment in a case involving procedural irregularities. The court held that a termination of employment is invalid if the…
DGFT has extended the period for fulfilling export obligations related to the import of coconut oil. The period, previously set at 90 days, has now been extended to 6 months. This…
The Income Tax Department has made an addition under Section 69A of the Income Tax Act in a case where a credit card payment was made without showing the source of income. The…
The Madras High Court has directed the GST authorities to grant a personal hearing in a case involving fraudulent ITC claims through bogus invoices. The case involved the…
The Directorate General of Foreign Trade DGFT has notified amendments to the Handbook of Procedures for 2023. These amendments include new provisions related to the export and…
GSTN has issued an advisory regarding the filing of applications for rectification of errors in GST orders. The advisory clarifies the procedures for submitting rectification…
Navratna PSU company, a leading public sector enterprise, secured a new order worth Rs 146.3 crore from the Himachal Pradesh School Education Society. This addition to the…
The Supreme Court ruled under Section 319 of the CrPC that an accused, who was dropped by the police during the investigation but later excluded from the charge sheet, can still…
The Supreme Court ruled on the validity of unprivileged wills under Section 63C of the Indian Succession Act. It held that an unprivileged will is executable even if the attesting…
The CESTAT Customs, Excise, and Service Tax Appellate Tribunal has quashed the penalty for non-filing of nil service tax returns. In this case, the appellant was penalized for not…
The Telangana High Court has upheld GST notifications that extended the notice deadlines for certain tax-related actions. The court ruled in favor of the GST authorities, stating…
GSTN has issued new procedures for taxpayers to file applications for the rectification of orders. The procedures apply to cases where the taxpayer wants to correct errors or…
The gaming industry in India has approached the Supreme Court, seeking intervention regarding the massive GST demands imposed on the sector. The industry claims that the GST…
The mutual fund industry in India has requested the restoration of indexation benefits for debt funds in the Union Budget for FY26. The demand stems from concerns that the removal…
The Supreme Court transferred petitions against the CCI probe into Amazon and Flipkart to the Karnataka High Court. The petitions had been filed questioning the antitrust…
A Delhi High Court ruling clarified that customs authorities can now serve notices to individuals via email in addition to traditional post methods. This is part of an initiative…
The Madras High Court ruled that TNVAT exemptions for interstate transactions apply even in the absence of CST notifications. The case concerned the application of Tamil Nadu…
Trade unions in India have put forward demands for a super-rich tax and social security reforms in their pre-budget discussions. Unions are urging the government to impose higher…
The Indian insurance industry has submitted a request for key tax reliefs and a reduction in GST in the upcoming Union Budget for FY26. Key demands include a reduction in the GST…
The AAAR Appellate Authority for Advance Ruling has ruled that GST is applicable on the additional surcharge levied by electricity suppliers on open access OA consumers. This…
The Bombay High Court recently dealt with a case involving a communal frenzy and a scuffle between two groups. The court refused to quash cross-FIRs filed by both parties,…
The GST portal has introduced a new feature allowing taxpayers to file rectification applications for ITC Input Tax Credit demand orders under Section 73 and 74 of the GST Act.…
The Allahabad High Court quashed the penalty imposed on Bajaj Hindusthan Sugar Ltd., citing the lack of mens rea guilty mind in the case. The court ruled that a penalty could not…
The Madras High Court allowed a supplier’s request to clarify GST demands linked to ITC claims. The case involved GST return defaulters, where the supplier’s liquidation triggered…
The Madras High Court has granted LPG cylinder distributor an opportunity to explain discrepancies in GST returns. The dispute arose from mismatches between GSTR 3B, GSTR 1, and…
The Income Tax Department has updated its portal, launching a new Excel-based utility for filing ITR 1, ITR 2, ITR 3, and ITR 4. This new utility is designed to simplify the tax…
A Punjab-based developer was found to be exploiting the RERA regulations, allegedly taking advantage of loopholes in the Real Estate Regulation and Development Act. The developers…
Sterlite Grid 32 has successfully raised Rs 2,450 crore through listed Non-Convertible Debentures NCDs . This funding will be used to enhance the company’s infrastructure and…
The Chhattisgarh High Court ruled that failure to comply with conditions not specified in the recruitment rules cannot justify the rejection of a candidate's appointment. The…
The Kerala High Court ruled that video conferencing is an acceptable mode of cross-examination in legal proceedings, providing flexibility and efficiency to the judicial process.…
The Institute of Chartered Accountants of India ICAI is set to finalize guidelines for international networking of CA firms by FY 2024-25. These guidelines will standardize how…
The Finance Ministry has assured that the GST Compensation Cess Fund will remain adequate to compensate states for any shortfall in GST revenue. The government stated that the…
The Union Budget 2025 could introduce tax incentives for fixed deposits FDs to encourage middle-class savings, aimed at addressing the growing economic concerns. These tax…
The Kerala High Court reversed its earlier decision regarding the CBI investigation into ADM Naveen Babu's death, stating there was no basis for such an inquiry. The court’s…
A debate is ongoing regarding the RBI’s approach to currency flexibility. Experts suggest that it may be time for the RBI to relax its rigid stance on currency management,…
The Reserve Bank of India RBI added 8 tonnes of gold to its reserves in November 2024, continuing its strategy of diversifying the country’s foreign exchange reserves. This move…
Coal India and IREL have entered into a Memorandum of Understanding MoU to collaborate on the development of critical minerals. This strategic partnership aims to bolster India’s…
Stock market concerns have emerged on January 6, with the market experiencing a downturn. Analysts attribute the crash to various factors, including global economic uncertainty,…
The Reserve Bank of India RBI added 8 tonnes of gold to its reserves in November 2024, continuing its strategy of diversifying the country’s foreign exchange reserves. This move…
NestAway, despite achieving an INR 1800 crore valuation and raising INR 700 crore in funding, was sold for just INR 90 crore due to a decline in valuation. The decline can be…
The Income Tax Department has updated its portal, launching a new Excel-based utility for filing ITR 1, ITR 2, ITR 3, and ITR 4. This new utility is designed to simplify the tax…
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