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The department had denied the exemption of Cenvat credit for goods used in exempted products, resulting in a dispute over wrongful credit claims. However, the Customs, Excise, and…
The Delhi Court has directed the India Today Group to remove defamatory videos related to Congress leader Nadeem Javed. The videos were allegedly spreading false and defamatory…
Following the Union Budget 2025, experts predict that the Reserve Bank of India RBI may cut interest rates by 25 basis points. This potential rate cut would be aimed at providing…
The Karnataka High Court ruled that a show-cause notice SCN issued by an improper officer under Section 74 of the CGST Act was liable to be set aside. In this case, an…
The Delhi District Consumer Commission held Country Holidays Inn & Suites liable for arbitrarily withholding amounts paid for a holiday membership package. The complainant had…
Haryana RERA directed Agrante Developers to refund the amount paid by homebuyers for a delayed possession. The case involved homebuyers who had booked apartments but experienced…
The Mahareat Society, which owns the land on which its establishment is situated, authorized a developer for the redevelopment of the property. The case centered on whether the…
The Haryana Real Estate Regulatory Authority RERA directed Ocean Seven Buildtech to pay interest to seven homebuyers due to delayed possession of their properties. The developer…
Uttar Pradesh’s real estate sector has experienced a significant surge in 2024, with 259 new projects driving growth in the market. The state’s booming real estate industry is…
Swiggy’s shares surged by 5% after Kotak initiated coverage with a buy rating, signaling strong growth prospects for the food delivery platform. Investors are optimistic about…
The Supreme Court ruled on the defection of BRS MLAs to Congress in Telangana. The court emphasized that there should be a reasonable period to decide on disqualification pleas…
The Baramulla District Consumer Commission ruled that Religare Broking Ltd was liable for not closing an inactive demat account as per the consumer's request. The complainant…
The Baramulla District Consumer Commission held a supplier liable for delivering substandard materials to a construction project. The complainant alleged that the materials…
The Delhi High Court reiterated that once a final certificate is issued under Section 5 of the Direct Tax Vivad Se Vishwas Act, no reassessment or reopening of the case is…
The Rajasthan High Court also ruled on the claim bill and notice requirement under the Carriage by Road Act. The ruling emphasized that carriers must adhere to the provisions of…
Indian startups witnessed substantial funding and acquisition activity in the week of December 30, 2024, to January 4, 2025. The funding landscape was dominated by investments in…
The Delhi RERA remanded a case to reconsider whether a homebuyer who booked a flat under a buy-back scheme is an allottee. The case centered on a homebuyer’s right to be…
The Telangana RERA penalized a builder for unilaterally canceling a homebuyer’s allotment, holding the real estate agent liable. The builder had canceled the allotment without due…
The Ministry of Corporate Affairs MCA imposed penalties on a company for failing to comply with borrowing resolution requirements. The company did not follow necessary corporate…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT quashed a demand order for services related to the construction of roads and bridges rendered to the government,…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT ruled that no additional customs duty would be levied on importers of high-speed diesel under the Duty Exemption…
The Income Tax Appellate Tribunal ITAT partly allowed an assessee's appeal and directed the tax authorities to grant a benefit of Rs 8 lakh for unexplained cash deposits. The case…
The Madras High Court has ordered the re-credit of the Reverse Charge Mechanism RCM payment made during the GST transition period as Input Tax Credit ITC in the electronic credit…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT quashed the penalty imposed under Section 114AA of the Customs Act, which had been levied on an importer accused of…
Shein, the global e-commerce giant, is making a comeback in India with the backing of Reliance Retail. After being banned in 2020, Shein is now relaunching its app in…
Blackbuck, a logistics and trucking platform, saw a 2% increase in shares after JM Financial initiated coverage with a buy rating. The positive outlook comes amid the company’s…
Shadowfax, the logistics startup, has raised INR 34 crore in its Series F funding round as it prepares for its upcoming IPO. The fresh funding will be used to fuel its expansion…
The Income Tax Appellate Tribunal ITAT has directed the reconsideration of a deduction claim under Section VA of the Income Tax Act, based on a recent Supreme Court decision. The…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT overturned a duty demand and penalties imposed on a taxpayer for failing to file a transshipment bill, ruling the…
The Allahabad High Court has upheld the reversal of Input Tax Credit ITC on lubricants for traders under the Uttar Pradesh Value Added Tax VAT Act. The case involved traders who…
Violation of Natural Justice for Lack of Hearing Opportunity; ITAT Remands Case to CITA The Income Tax Appellate Tribunal ITAT held that the principle of natural justice was…
GST Not Leviable on Assignment/Transfer of Leasehold Rights to Third Party: Gujarat HC The Gujarat High Court ruled that Goods and Services Tax GST is not applicable on the…
MobiKwik’s shares slid by 5.1% during intraday trading, reflecting investor concerns regarding the company’s ability to sustain growth amid a competitive fintech environment. The…
Brainbees, the parent company of FirstCry, saw its shares slump by 6.42% to ₹474. The decline is attributed to market uncertainties and investor concerns over the company’s future…
ITAT quashed the reassessment of long-term capital gains LTCG as bogus, citing lack of tangible evidence. The Tribunal ruled that the reassessment made by tax authorities was…
ITAT Allows Assessees Appeal Orders CITA to Decide on Foreign Tax Credit Claim Along with Pending Appeal The Income Tax Appellate Tribunal ITAT has allowed an assessee's appeal…
Lack of Evidence and Section Misuse: CESTAT Quashes CR Rule Demand Over Alleged Common Input Service Usage The Customs, Excise, and Service Tax Appellate Tribunal CESTAT quashed a…
Availment of Excess Credit Without Documents Prescribed Under Rule 91 of CCR; CESTAT Directs to Accept Documents Submitted Belatedly by Nippon Steel The Customs, Excise, and…
GST Notice Issued to Pani Puri Vendor Over Rs 40 Lakh Digital Transactions A GST notice has been issued to a pani puri vendor in India over digital transactions exceeding Rs 40…
Burden of Proof Lies with Customs Dept Allegation on Country of Origin Add: CESTAT on Unmarked Pallets The Customs, Excise, and Service Tax Appellate Tribunal CESTAT ruled that…
The ITAT directed the TPO to re-evaluate arms-length price for foreign AEs in the trading segment. The case involved the determination of the arms-length price for transactions…
ITAT quashes search assessments due to the lack of proper approval under Section 132D. The Tribunal ruled that the assessments made by the tax authorities were invalid as they…
Gujarat Records 19 Percent Growth in GST Revenue in Q3 FY 2024-25 Gujarat has reported a remarkable 19% growth in Goods and Services Tax GST revenue for the third quarter of the…
ICAI Submits Suggestions on Comprehensive Review of IT Act, 1961 and Pre-Budget Memorandum 2025 The Institute of Chartered Accountants of India ICAI has submitted its suggestions…
CBDT Issues Key Income Tax Exemptions for Credit Guarantee Entities and IFSC Units The Central Board of Direct Taxes CBDT has issued significant income tax exemptions for entities…
Paytm Cloud is reportedly in talks to acquire a 25% stake in US-based Seven Technology. The collaboration aims to strengthen Paytm’s technological infrastructure and expand its…
Swiggy’s shares surged by 5% after Kotak initiated coverage with a buy rating, signaling strong growth prospects for the food delivery platform. Investors are optimistic about…
OpenAI has launched a new project in the realm of agentic AI, marking a significant expansion of its capabilities. The initiative, named Deep Research, focuses on developing…
The Gujarat High Court took suo motu cognizance of an alleged assault case involving a tribal woman. The court expressed grave concern over the incident and ordered an…
Shadowfax, the logistics startup, has raised INR 34 crore in its Series F funding round as it prepares for its upcoming IPO. The fresh funding will be used to fuel its expansion…
The department had denied the exemption of Cenvat credit for goods used in exempted products, resulting in a dispute over wrongful credit claims. However, the Customs, Excise, and…
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