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ITAT Rejects Cooperative Banks’ Bad Debt Reserve Claim: The Income Tax Appellate Tribunal ITAT has rejected a cooperative bank’s claim for a reserve deduction under Section 36 1…
15% Minimum Corporate Tax on Multinationals: UAE’s New Move: The UAE is set to implement a minimum corporate tax rate of 15% on multinational companies starting from January 2024.…
PCIT Challenges Unexplained Income; Delhi HC Validates Land Sale Advance: The Delhi High Court has upheld the advance received for a land sale as valid income in a case involving…
Himachal Pradesh has signed an MOU to develop green corridors and promote electric vehicles. The state government has partnered with stakeholders to create an eco-friendly…
A Navratna PSU telecom company has secured a new order worth INR 111 crore from Mahatma Phule Krishi Vidyapeeth. The order is part of the company’s expanding portfolio in the…
A son fought against a builder for property possession delay and won INR 37 lakh in interest compensation from NCDRC. The case highlights consumer rights and the importance of…
The stock market news on December 11, 2024, highlighted mixed trends in market performance. The Sensex and Nifty indices experienced fluctuations, driven by global cues and local…
Flipkart has expanded its quick-commerce service beyond Bengaluru with the launch of Flipkart Minutes in Thane. Flipkart Minutes, the e-commerce giant's fast delivery service,…
Same Supplies Damro Furniture Subject to Assessment: Madras HC: The Madras High Court has set aside a decision regarding the assessment of Damro Furniture, directing the…
Belated Filing of Form 67 Not a Ground to Deny Tax Credit: The Income Tax Appellate Tribunal ITAT has ruled that belated filing of Form 67 should not be a ground to deny foreign…
CBIC Extends GSTR-3B Filing Deadline for Murshidabad, West Bengal: The Central Board of Indirect Taxes and Customs CBIC has extended the deadline for filing GSTR-3B returns for…
GrowX Ventures has launched a new INR 400 crore fund to support early-stage investments in startups. The fund aims to focus on tech-driven startups across various sectors,…
Kenro Capital has acquired a stake in Peak XV-backed K12 Techno for $40 million. The acquisition marks a significant investment in the education technology sector, focusing on…
MobiKwik’s IPO was subscribed 4 times within 4 hours on Day 1, with retail demand soaring over 16 times. The mobile wallet and payments platform MobiKwik witnessed a highly…
OYO-owned Innov8 has reported a net profit of INR 62 crore in FY24, showing robust growth despite challenges. Innov8, a co-working space provider, has shown remarkable growth in…
Haber, a maker of B2B robotics solutions, has raised $44 million in a Series C funding round to expand its operations. Haber develops robotics systems powered by AI for use in…
NFRA Pushes for Global Alignment in Auditing Standards: The National Financial Reporting Authority NFRA has called for a global alignment of auditing standards to boost investor…
Budget 2025 Preview: Finance Minister Nirmala Sitharaman's Budget 2025 is expected to focus on addressing inflation and promoting economic growth amidst a challenging global…
Time-Barred Cenvat Credit Demands Do Not Attract Interest: The CESTAT has modified the decision in the Lyka Labs case, ruling that time-barred Cenvat credit demands will not…
Groww, a digital investment platform, has come close to reaching 13 million active users by November 2024. The platform, which offers investment options like mutual funds, stocks,…
CarDekho SEA has raised $60 million in funding from Navis Capital Partners and Dragon Fund to expand its presence in Southeast Asia. The funding will allow CarDekho to scale its…
Peak XV, along with other stakeholders, plans to offload a stake worth INR 583 crores in Awfis, a leading coworking space provider. The move comes as part of an effort to…
Income Tax Made Easy: Must-Read for Tax Professionals: The book "Income Tax Made Easy" is a comprehensive guide aimed at tax professionals, students, and taxpayers, simplifying…
Haber, an AI-based robotics startup, has raised INR 317 crore to fund its growth and expansion plans. The company specializes in developing AI-driven robots for industrial…
PAN 2.0: Holding Two PAN Cards: The Income Tax Department has issued a reminder to taxpayers about the importance of surrendering any additional PAN cards they hold, as possessing…
he Madras High Court has granted taxpayers a second opportunity to comply with GST annual return requirements, specifically GSTR 9 and GSTR 9C. The court’s decision allows…
The Madras High Court has directed the authorities to pass a fresh order regarding the mismatch between TCS Tax Collected at Source under GSTR 8 and GSTR 1. The issue arose when…
The Supreme Court ruled that while the Enforcement Directorate ED can instruct prosecutors on factual aspects of a case, it cannot dictate how prosecutors should act in court.…
Scripbox, a digital wealth management platform, reported a revenue of INR 8433 crore in FY24, cutting employee costs by 38%. The company, which offers investment advice and…
The Enforcement Directorate ED recently addressed concerns over its low conviction rates under the Prevention of Money Laundering Act PMLA . The ED explained that although…
The Supreme Court of India has issued a notice to the Guruvayoor Temple Devaswom in response to a petition regarding the interruption of the Pooja rituals for public convenience.…
The Gauhati High Court has taken up a case concerning the termination of a minor rape victim's pregnancy in Assam. The issue arose after the government delayed providing…
The Kerala government has officially recognized Cost Management Accountants CMA and Chartered Accountants CA as equivalent qualifications for state government jobs. This…
The Rajasthan High Court has ruled that a referral court under Section 11 of the Arbitration Act cannot delve into the merits of the dispute at the stage of referring the matter…
Article 226 Not Applicable for Resolving Private Disputes: The Madras High Court has ruled that Article 226 of the Constitution, which allows for the issuance of writs, is not…
In a recent ruling, the Madras High Court directed a petitioner to approach the Tribunal after it was found that the assessment in question was based on erroneous facts. The…
Kerala HC Munambam Land Dispute Protection: The Kerala High Court issued an order for protection in a land dispute case involving Munambam, emphasizing the need to maintain peace…
Sustainiam Bags Funding from Orios for Climate-Tech Startup: Sustainiam, a climate-tech startup, secured funding from Orios Venture Partners. The investment aims to support…
Kalindee Rail Moves NCLT for Insolvency: Kalindee Rail Nirman moved the National Company Law Tribunal NCLT seeking insolvency proceedings under the Insolvency and Bankruptcy Code.…
Telangana HC Upholds Former MLA's Citizenship Cancellation: The Telangana High Court upheld the cancellation of former MLA Chennamaneni Ramesh’s citizenship, ruling that he had…
CBIC Extends GSTR-3B Filing Due Date for Murshidabad, West Bengal: The CBIC has announced an extension to the deadline for GSTR-3B filing for businesses located in Murshidabad,…
Bombay HC on Insurance Claims Settlement: The Bombay High Court emphasized the need to enforce insurance ombudsman orders for settlement of claims. The case involved a…
Rajasthan HC Family Pension Claim for Widowed and Divorced Daughters: The Rajasthan High Court ruled that widowed and divorced daughters of government employees are eligible to…
Chhattisgarh HC Premature Retirement Order: The Chhattisgarh High Court ruled that an employee’s entire service record, including character rolls and confidential reports, must be…
Karnataka HC BS Yediyurappa POCSO Case: The Karnataka High Court rejected a petition to quash an FIR filed against former CM BS Yediyurappa in connection with a POCSO case. The…
Perfios has seen multifold growth in recent years, driving its valuation beyond the unicorn mark. The company, which provides a suite of financial data aggregation and analytics…
Gujarat HC Denies Bail in Wife Murder Case: The Gujarat High Court denied bail to a husband accused of misleading the investigation into his wife’s murder. The Court found that…
Subdued market conditions in November 2024 led to a 25% drop in deal values for India Inc. The slowdown in mergers and acquisitions M&A activity was primarily due to caution among…
Madhya Pradesh HC on FIR Registration and Lawyer Threats: The Madhya Pradesh High Court addressed a case regarding the registration of an FIR for threats made against lawyers. The…
Delhi HC Interim Bail in Unnao Rape Case: The Delhi High Court granted interim bail to Kuldeep Sengar, a former BJP MLA, in connection with the Unnao rape case, where he was…
ITAT Rejects Cooperative Banks’ Bad Debt Reserve Claim: The Income Tax Appellate Tribunal ITAT has rejected a cooperative bank’s claim for a reserve deduction under Section 36 1…
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