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Zomato has launched the ‘District’ app for both Android and iPhone users. This app aims to enhance the ‘going-out’ experience by allowing users to discover and book restaurants,…
Between November 11 and 16, Indian startups raised $185.8 million across 21 deals, marking a 49% increase from the previous week. This surge in funding highlights growing investor…
The Directorate General of Foreign Trade DGFT has notified a new Standard Input Output Norm SION for Clobetasol Propionate under the Chemical and Allied Products category. This…
The Calcutta High Court ruled that factual examination of disputes under Section 68 of the Income Tax Act is beyond the scope of appeal under Section 260A. The case involved an…
The Karnataka Real Estate Regulatory Authority RERA directed Ozone Realtors to refund Rs. 86 lakhs to a homebuyer due to delayed possession and failure to pay pre-EMI. The…
The Haryana Real Estate Regulatory Authority RERA directed Pareena Infrastructures Pvt. Ltd. to pay interest and execute a conveyance deed in favor of a homebuyer. The homebuyer…
The Nagpur Bench of the Income Tax Appellate Tribunal ITAT ruled that no legal action, including income tax proceedings, can proceed against a party once a liquidation order is…
The Delhi High Court upheld an order by the Principal Commissioner of Income Tax PCIT overruling the Assessing Officer’s AO erroneous classification of land in an income tax…
The Income Tax Appellate Tribunal ITAT dismissed an assessee’s appeal as infructuous after the assessee filed a fresh application for registration within the extended deadline.…
The Punjab and Haryana High Court set aside a GST demand notice and order issued under Section 74 of the Central Goods and Services Tax Act, 2017, after proceedings under Section…
The Patiala House Court has denied bail to an accused involved in a ₹1,285 crore GST fraud case linked to alleged iPhone smuggling. The accused, who was arrested by the…
The Supreme Court sought an explanation from its registry on how a counter-affidavit filed by a non-party was accepted. The court was hearing a Special Leave Petition and noted…
The Surat Bench of the Income Tax Appellate Tribunal ITAT upheld the deletion of an addition of Rs. 3.53 crores made by the Assessing Officer AO on account of an unexplained…
The Delhi Income Tax Appellate Tribunal ITAT dismissed an appeal challenging the approval of an assessment order under Section 153D of the Income Tax Act. The Assessing Officer AO…
The Income Tax Appellate Tribunal ITAT remitted an issue back to the Assessing Officer AO for fresh consideration due to the assessee’s inability to prove unexplained cash credit…
The Income Tax Appellate Tribunal ITAT quashed an appeal due to the absence of representation from the assessee’s side. The case involved an assessee who failed to appear or…
Lodha & Co. LLP has stepped down as the statutory auditors of JHS Svendgaard Laboratories Ltd. The resignation was attributed to the company’s decision to appoint a new audit firm…
Finance Minister Nirmala Sitharaman has refuted claims by the Karnataka government of bias in tax devolution. Karnataka had alleged that the central government was unfairly…
PB Fintech, the parent company of Policybazaar, has allotted around 27 lakh equity shares under its Employee Stock Option Plan ESOP 2021. This move is part of the company’s…
The Income Tax Appellate Tribunal ITAT upheld the addition of unexplained income under Section 69A of the Income Tax Act due to the assessee’s non-compliance. The case involved an…
The Directorate General of Foreign Trade DGFT has proposed the notification of a harmonized Schedule II export policy based on 8-digit ITC HS codes. This proposal aims to align…
The Directorate General of Foreign Trade DGFT has notified a new Standard Input Output Norm SION for Clobetasol Propionate under the Chemical and Allied Products category. This…
The Central Board of Direct Taxes CBDT has launched a compliance awareness campaign for the assessment year AY 2024-25 to assist income taxpayers in reporting foreign assets and…
The Income Tax Appellate Tribunal ITAT dismissed an assessee’s appeal as infructuous after the assessee filed a fresh application for registration within the extended deadline.…
Analysts predict that Foreign Institutional Investor FII trading activity and global trends will dictate the direction of Indian equity markets in the coming week. Key factors…
Neobanking startup Jupiter spent nearly INR 10 to earn every rupee in FY24. Despite this, the company managed to narrow its net loss by 16% to INR 275.94 crore, with operating…
Sirius India Airlines is looking to raise USD 100 million to fund its expansion plans. The airline aims to enhance its fleet, improve operational efficiency, and expand its…
The Income Tax Appellate Tribunal ITAT quashed a reassessment notice issued under Section 148 of the Income Tax Act, as it was issued beyond the statutory time frame. The case…
The Punjab and Haryana High Court set aside a GST demand notice and order issued under Section 74 of the Central Goods and Services Tax Act, 2017, after proceedings under Section…
The Goods and Services Tax Network GSTN has resolved the issue of duplicate invoices appearing in GSTR-2B for September and October 2024. Taxpayers had reported seeing the same…
The Delhi Income Tax Appellate Tribunal ITAT condoned the delay in filing an appeal by AVA Resources Private Limited and restored the matter to the Commissioner of Income Tax…
The Madras High Court ruled that cross-examination requests should not be allowed without a substantive reply on the merits to the Show Cause Notice SCN . The case involved Nalin…
The Reserve Bank of India RBI is likely to draw up a road map for the adoption of Expected Credit Loss ECL methodology at its upcoming meeting. The ECL approach, aligned with…
The Delhi High Court ruled that confiscation under the Customs Act cannot occur without issuing a show-cause notice as required by Section 124. The court emphasized that due…
The Karnataka High Court heard a Public Interest Litigation PIL seeking the implementation of an audio announcement system by the Bangalore Metropolitan Transport Corporation BMTC…
The Madras High Court ruled that statutory reserves transferred by Non-Banking Financial Companies NBFCs under the Reserve Bank of India RBI Act are not allowable as deductions…
Taxpayers are reminded that they cannot claim Input Tax Credit ITC if GSTR-3B is not filed by the due date for the financial year 2023-24. The Goods and Services Tax GST…
The Patiala House Court has denied bail to an accused involved in a ₹1,285 crore GST fraud case linked to alleged iPhone smuggling. The accused, who was arrested by the…
The Bombay High Court ruled that alternative remedies must be exhausted before approaching the High Court to quash a GST demand Show Cause Notice SCN . The case involved a…
The Jammu and Kashmir High Court questioned the state’s failure to evict former ministers and MLAs from official bungalows, emphasizing the need for strict adherence to eviction…
Sources have clarified that the higher personal income tax PIT collection does not necessarily imply an increased tax burden on individuals. The rise in collection is attributed…
The Kerala High Court ruled that refund dues cannot be adjusted against outstanding demands if there is a stay on the account under Section 60 1A of the Kerala Value Added Tax…
The Kerala High Court has set aside the recovery of income tax demand on the denial of benefits under Section 80P, pending an appeal before the Income Tax Appellate Tribunal ITAT…
The Reserve Bank of India RBI is likely to draw up a road map for the adoption of Expected Credit Loss ECL methodology at its upcoming meeting. The ECL approach, aligned with…
The Software as a Service SaaS market in India is poised for significant growth, with opportunities projected to expand by 2030. The report highlights trends such as increased…
The Software as a Service SaaS market in India is poised for significant growth, with opportunities projected to expand by 2030. The report highlights trends such as increased…
The National Company Law Appellate Tribunal NCLAT upheld the National Company Law Tribunal's NCLT order admitting an insolvency plea against Patanjali Paridhan. The plea was filed…
The Calcutta High Court has established separate divisions to handle Intellectual Property Rights IPR disputes, aiming to expedite and streamline the resolution of such cases.…
The implementation of India's data protection law is expected to take more than a year, according to experts. The law, aimed at securing personal data and ensuring privacy,…
The Consumer Protection Act aims to safeguard consumer rights, yet selective justice under this law raises concerns. The article discusses instances where consumer complaints have…
Zomato has launched the ‘District’ app for both Android and iPhone users. This app aims to enhance the ‘going-out’ experience by allowing users to discover and book restaurants,…
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