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The GST authorities have announced that the implementation of the Multi-Factor Authentication MFA system will be mandatory for taxpayers with an annual turnover exceeding Rs. 20…
Velocity, a prominent venture capital firm, has launched a INR 200 crore fund to support the growth of cloud kitchens in India. With the increasing demand for online food delivery…
SEBI has announced that regulated entities will now be responsible for the use of artificial intelligence AI in their operations. This new regulation requires firms under SEBI’s…
The Supreme Court is considering a plea alleging data privacy violations by foreign credit information companies CICs in India. The plea challenges the outsourcing of credit…
The ITAT has ruled that tax assessed under Section 245D 4 of the Income Tax Act cannot be reassessed under Section 69C due to double taxation concerns. The case involved an issue…
The ITAT has quashed the disallowance of interest on a Rs 4.18 crore grant, ruling that the order passed by the Principal Commissioner of Income Tax PCIT violated the principles…
The ITAT has upheld the disallowance of Short-Term Capital Loss STCL due to an adjustment already made in a previous assessment year, while deleting the penalty imposed by the…
The GST Council has clarified the importance of filing appeals related to the revocation or cancellation of GST registration. It emphasized that the intent behind such appeals is…
The Income Tax Appellate Tribunal ITAT has ruled that interest under section 234A of the Income Tax Act is applicable from the due date of filing the tax return until the full…
Direct tax revenue collection in India has seen a significant surge, with a 20% increase in collections compared to the previous year. This includes a substantial growth in…
CBIC Chairman Vivek Johri launched several new initiatives aimed at enhancing taxpayer services and simplifying compliance processes. The initiatives include the introduction of a…
The Delhi High Court has granted relief to Huawei by ruling that its assessment for the year 2013-14 was time-barred due to the inaction of tax authorities following the ITAT’s…
The Income Tax Appellate Tribunal ITAT has directed the Assessing Officer AO to focus solely on determining the commission paid for accommodation entries in a revision proceeding…
The Kerala High Court has upheld the disallowance of an expense under Section 37 of the Income Tax Act due to insufficient evidence for the purchase of paddy from unregistered…
The Kerala High Court has remanded a case back to the authorities for reconsideration after a failure to account for the tax effect of discounts granted under the CGST Act. The…
The GST Council has approved a rate reduction for life insurance premiums in India, which is expected to make insurance products more affordable for consumers. The Goods and…
In the 55th GST Council meeting, discussions focused on potential GST relief on food delivery charges, a move that could benefit consumers and the food service industry. The…
The Delhi High Court has set aside the Transfer Pricing Officer’s TPO order concerning Fabindia's depreciation claim related to its trademark. The court directed the Assessing…
The Karnataka State Chartered Accountants Association has submitted a representation to the Union Finance Minister regarding the disallowance of Input Tax Credit ITC under…
The National Company Law Appellate Tribunal NCLAT has ruled that the National Company Law Tribunal NCLT is empowered to allow amendments to pleadings before final orders are…
The ITAT has remanded a case back to the Assessing Officer AO to re-verify the books of accounts and other documents related to a challenge on the reduction of net profit. The…
The Income Tax Appellate Tribunal ITAT has condoned a 244-day delay in filing an appeal and restored an ex-parte order to the Assessing Officer AO for fresh adjudication. The…
The Supreme Court of India has ruled that small bottles of coconut oil, classified as edible, will attract a Goods and Services Tax GST rate of 5%. The decision came after a legal…
The Central Board of Indirect Taxes and Customs CBIC has uncovered GST evasion worth Rs 26,543 crore in a nationwide crackdown against fake Input Tax Credit ITC claims. The…
India’s gaming industry is facing a February 2025 deadline for settling Goods and Services Tax GST demands on betting activities. The industry, which includes online gaming…
The Central Board of Direct Taxes CBDT has exempted the Credit Guarantee Fund Trust for Micro and Small Enterprises CGTMSE from the requirement to deduct tax at source TDS on…
The Comptroller and Auditor General CAG of India has identified a revenue loss of Rs 18,509.8 crore due to tax errors and evasion. The CAG report highlighted the failure of tax…
The ITAT has ruled that the Centralized Processing Centre CPC cannot disallow benefits under Section 11 of the Income Tax Act when the benefits have already been accepted. The…
The ITAT has granted relief to a taxpayer by allowing the benefit of Section 11 of the Income Tax Act, despite the late submission of Form 10B. The case involved a procedural…
The Kerala High Court addressed the issue of child custody in the context of the inconvenience caused by shuttling a child between two forums. The case involved a child whose…
SEBI has introduced tighter rules for SMEs seeking to raise funds through initial public offerings IPOs on the SME platform. The new guidelines aim to improve the transparency,…
The Supreme Court ruled that an acquitted person cannot be subjected to a re-investigation for the same offense after being cleared of charges. The Court clarified that once a…
The Supreme Court found Kerala High Court's directions requiring elephants to maintain a 3-meter distance impractical. The Court questioned how such a measure could be enforced,…
The Supreme Court ruled that ex-husbands are not obligated to provide alimony for life based on their current financial status. The Court emphasized that alimony is not intended…
The National Consumer Disputes Redressal Commission NCDRC ruled that a doctor is not liable for negligence if the treatment chosen was recognized as sound medical practice. In…
The Haryana RERA directed Ansal Builders to refund Rs. 107 crores to homebuyers due to a delay of over 10 years in delivering properties. The Commission cited the builder's…
The Chandigarh State Commission remanded the Sahara Prime City case for fresh adjudication, after finding that the district commission had misapplied the Supreme Court's ruling on…
The NCLAT ruled that the date of default in the case of a personal guarantor depends on the terms of the contract of guarantee. The ruling clarifies that the default date cannot…
The NCLAT ruled that once a resolution plan is approved by the Committee of Creditors CoC during insolvency proceedings, it is binding on all stakeholders, including dissenting…
The Jharkhand High Court found two police officers guilty of illegal arrests involving Flipkart employees. The officers were accused of arresting employees without valid grounds,…
The Delhi High Court ruled that the term "Wow" cannot be monopolized by any entity in the market, responding to a case involving Wow Momo. The Court observed that the word "Wow"…
The Delhi High Court recently dealt with an income tax dispute involving Western Union, where the company challenged the tax authority’s notice regarding the applicability of…
The parents of a rape and murder victim have approached the Calcutta High Court seeking a fresh probe into the case. The victim, a young woman, was killed after being sexually…
The Punjab and Haryana High Court has ordered an investigation into the controversial TV interview of Lawrence Bishnoi, a notorious gangster, following his comments about his…
Gramophone, a tech-driven agriculture startup, has faced a sharp decline in its revenue, which has slumped by 69% to INR 98 crore in FY24. This significant downturn has raised…
BSE SME-listed Veefin has raised INR 136 crore in its latest funding round to further enhance its operations. The company, which offers innovative financial solutions to…
Fintech startup Kissht has roped in cricket legend Sachin Tendulkar as an investor, marking a significant milestone in the company’s growth trajectory. This strategic partnership…
Rebel Foods, an Indian cloud kitchen giant, has seen a significant boost in its growth trajectory, with global investment firm KKR joining its cap table. This move signals strong…
SEBI has announced that regulated entities will now be responsible for the use of artificial intelligence AI in their operations. This new regulation requires firms under SEBI’s…
Quid Cash, a fintech startup focused on supply chain finance, has raised $4.5 million in funding to enhance its technology stack. The company plans to use the capital to further…
The GST authorities have announced that the implementation of the Multi-Factor Authentication MFA system will be mandatory for taxpayers with an annual turnover exceeding Rs. 20…
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