The Delhi High Court ruled that prosecution under Section 51 of the Black Money Undisclosed Foreign Income and Assets and Imposition of Tax Act, 2015, can only be initiated after…
14/11/20241 min read
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The Delhi High Court ruled that prosecution under Section 51 of the Black Money Undisclosed Foreign Income and Assets and Imposition of Tax Act, 2015, can only be initiated after…
The Gujarat High Court ruled that certified copies of GST appeal orders are not necessary when the orders are available on the GST portal. The court held that digital copies…
The Allahabad High Court ruled that penalties under Section 129 of the Central Goods and Services Tax CGST Act cannot be imposed on goods in transit accompanied by a valid tax…
The Delhi High Court held that a Show Cause Notice SCN and penalty order issued in the previous name of a company, which had subsequently changed its name, is valid. The court…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT ruled that only the service recipient can claim credit for service tax paid under the reverse charge mechanism, not…
The Himachal Pradesh High Court ruled that Punjab Roadways must pay passenger tax and interest on delayed payments for buses operating in Himachal Pradesh. The court emphasized…
The Madhya Pradesh High Court ruled that an order passed under Section 148A d of the Income Tax Act, which deals with the reassessment of income, is not appealable. The court…
The Delhi High Court has clarified that the initiation of action for the imposition of penalty under Section 271C of the Income Tax Act, due to failure to deduct tax at source,…
Zomato, a food delivery giant, plans to launch a Qualified Institutional Placement QIP to raise INR 8500 crore in December. The QIP aims to strengthen Zomato's balance sheet, fund…
Menhood, a men's grooming startup, reported a 190% increase in its profit for the first half of the fiscal year, reaching INR 1.84 crore. The impressive profit growth is driven by…
EaseMyTrip, an online travel agency, reported a decline in its profit after tax PAT to INR 26.8 crore for the second quarter. The decrease in profitability is attributed to higher…
The initial public offering IPO of BlackBuck, a logistics startup, has been subscribed 28% on the second day of its issue. The IPO has attracted interest from institutional…
Athina AI, a startup focused on artificial intelligence, has raised $3 million to assist enterprises in building production-grade AI applications. The funding round was led by…
Airbound, a drone technology startup, has secured funding from Lightspeed Venture Partners. The investment aims to support Airbound's product development, market expansion, and…
Giva, a jewelry startup, reported a 66% increase in revenue, reaching Rs 274 crore in FY24. The significant growth is attributed to strong demand for its jewelry collections,…
Sarvagram, a rural lending startup, has raised $67 million in a funding round led by Peak XV Partners. The startup aims to utilize the funds to expand its operations, enhance its…
Honasa Consumer Ltd, the parent company of Mamaearth, reported a revenue of Rs 462 crore for the second quarter of FY25. Despite the impressive revenue figure, the company slipped…
The Confederation of All India Traders CAIT has accused Blinkit, Zepto, and Instamart of misusing Foreign Direct Investment FDI regulations. CAIT claims that these companies are…
Matrimony.com has launched WeddingLoan.com, a fintech platform dedicated to providing marriage loans. The platform offers a specialized category for wedding loans, collaborating…
The Supreme Court has dismissed a plea seeking a ban on WhatsApp. The petitioners had argued that the messaging platform poses security risks and violates users' privacy. However,…
The Supreme Court will hear a plea in February 2024 seeking a Special Investigation Team SIT probe against the Chief Minister of Arunachal Pradesh over the alleged irregular…
The Supreme Court has dismissed the anticipatory bail plea of Odisha BJP MLA Jayanarayan Mishra, who was booked for slapping a woman officer during a protest. The Court found no…
The Supreme Court has called out the Odisha government's stance on the anticipatory bail plea of BJP MLA Jayanarayan Mishra, who is accused of slapping a woman officer during a…
The Supreme Court has clarified that hate speech is distinct from wrong assertions or false claims. The Court emphasized that hate speech involves language that incites hatred,…
The Supreme Court has expressed shock at the Goa government's decision to notify High Court service rules that differ from the draft proposed by the Chief Justice. The Court has…
The Supreme Court will address Delhi's severe pollution issues on Monday, following concerns raised by the Amicus Curiae over the lack of pre-emptive action. The Court is expected…
The Supreme Court has criticized the Allahabad High Court's practice of disposing of quashing petitions by directing petitioners to seek discharge in the trial court. The Supreme…
The Supreme Court is considering ordering the sale of Assam Tea Corporation's assets to settle workers' dues amounting to Rs 70 crores. The Corporation has failed to pay its…
The Supreme Court has taken cognizance of the illegal occupation of a medieval tomb by the Defence Colony Welfare Association, based on a report by the CBI and expert Shaikh Ali…
The Supreme Court has stayed the High Court order transferring the probe into the Jharkhand Assembly appointments scam to the Central Bureau of Investigation CBI . The stay order…
The Supreme Court has issued a notice in a contempt plea against the use of spikes, fireballs, and mashals on elephants in West Bengal. The plea alleges that these practices…
The Supreme Court has set aside the removal of a woman Sarpanch from Chhattisgarh and ordered an inquiry into the circumstances of her removal. The Court found that due process…
A plea in the Supreme Court seeks mandatory disclosure of medicine risks by medical professionals. The petition argues that patients have a right to be fully informed about the…
The Supreme Court will hear a plea from acid attack survivors challenging the requirement of a live photograph for the e-KYC process. The petitioners argue that the mandatory live…
The Supreme Court has expressed concern over the reluctance of Punjab and Haryana to prosecute officials violating the Commission for Air Quality Management CAQM orders regarding…
The Supreme Court ruled that Article 14, which guarantees the right to equality, cannot be used to repeat an illegality committed in favor of someone. The court clarified that any…
The Supreme Court has ruled that compassionate appointment is not a vested right. This ruling clarifies that compassionate appointments are provided to alleviate the immediate…
The Supreme Court has released a new subject-wise roster, effective from November 11. This roster allocates cases to different benches based on subject matter, ensuring a more…
The Supreme Court has ruled that the right to shelter is a facet of the right to life under Article 21 of the Constitution. The judgment, in the 'bulldozer matter,' emphasizes…
GSTN has released an advisory concerning the initial phase of the Invoice Matching System IMS implementation. This advisory provides guidelines for businesses to adapt to the new…
The GST portal's new Invoice Matching System IMS aims to address discrepancies in Input Tax Credit ITC claims and reduce related litigation. By enhancing the accuracy of invoice…
The GST Network GSTN has issued an advisory on the introduction of the Invoice Matching System IMS for supplier views. This system aims to enhance transparency and accuracy in…
The Authority for Advance Rulings AAR ruled that penalties imposed by the Reserve Bank of India RBI…
The Madras High Court granted an opportunity to a taxpayer to explain discrepancies between their GSTR-1 and GSTR-3B forms, given that 75% of the disputed GST had already been…
The ITAT ruled that the entire bank credit should be treated as business receipts for income estimation under Section 44AD of the Income Tax Act. The tribunal found that the…
The CESTAT ruled in favor of Hyundai Motors, stating that there was no suppression of facts or wilful mis-statement in their case, and hence, no penalty or redemption fine could…
The ICAI has requested the Ministry of Corporate Affairs MCA to review the proposed changes to audit standards by the National Financial Reporting Authority NFRA . ICAI raised…
The ITAT remanded a case to the Commissioner of Income Tax Appeals CIT A for reassessment, allowing the assessee another opportunity to substantiate a cash credit of Rs 51.20…
The CESTAT granted excise duty exemption for Domestic Tariff Area DTA clearances, emphasizing the importance of proper record maintenance and the non-applicability of Special…
The Delhi High Court ruled that a demand order for Tax Deducted at Source TDS violations issued in the name of a previous company is rectifiable under Section 292B of the Income…
The Delhi High Court ruled that prosecution under Section 51 of the Black Money Undisclosed Foreign Income and Assets and Imposition of Tax Act, 2015, can only be initiated after…
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