News & Judgements

SupplyNote aims to address India's restaurant supply chain issues by providing an integrated platform for inventory management, procurement, and order processing. The platform…

Delhivery has allotted over 11 lakh equity shares under its Employee Stock Ownership Plan ESOP to reward and retain its employees. This move aims to align the interests of…

The CESTAT ruled that CENVAT credit on refunds to exporters of cricket match broadcasting services cannot be denied solely on procedural grounds. The tribunal found that denying…

The Patna High Court upheld the cancellation of a GST registration due to non-compliance with appeal limitation and failure to utilize the amnesty scheme. The petitioner failed to…

The CESTAT ruled that no penalty applies if a wrongful CENVAT credit claim is reversed voluntarily before the issuance of a show-cause notice SCN . The tribunal reduced the…

Businesses are reminded of the upcoming deadline for filing GST returns due before November 15. The article outlines the key steps and requirements for timely filing, emphasizing t…

The ITAT restored a case to the Assessing Officer AO for fresh assessment, granting the assessee an opportunity to substantiate cash deposits. The Tribunal found that the initial…

ITAT granted relief on employer PF and ESI contributions, restricting disallowance to employee contributions based on timely payment under Section 43B of the Income Tax Act. The…

The Central Board of Indirect Taxes and Customs CBIC issued a clarification on the insurance amount and bond value for Customs Cargo Service Providers CCSPS and the validity of…

The CESTAT ruled that if the principal manufacturer fails to discharge their tax liability, the burden shifts to the job worker. This decision clarifies the responsibilities of…

The Karnataka High Court set aside an ex parte order where the GST Department notified for a personal hearing only on the portal, despite the taxpayer's request for email…

The ITAT reduced the commission income addition to 0.50% on bank transactions in an income tax appeal, citing it as reasonable. The assessee had contested the higher addition made…

Shares of Firstcry, an online retailer, dropped by 4% following the initiation of an investigation by the GST department. The investigation pertains to alleged discrepancies in…

The GSTN issued an advisory regarding GST registration applications for businesses operating in territories outside the standard jurisdiction. The advisory clarifies the process…

The Karnataka High Court ruled that the electronic credit ledger cannot be blocked under the CGST without a cogent reason. The court emphasized the importance of providing valid…

The GSTN issued an advisory stating that GST forms SPL-01 and SPL-02 will be available in January 2025, as part of the interest and penalty waiver under Section 128A. The advisory…

The Patna High Court granted a stay on tax recovery pending appeal on the conditional deposit of 20% of the disputed amount due to the non-constitution of the GST Tribunal. The…

The Income Tax Appellate Tribunal ITAT quashed an assessment order where the Assessing Officer AO incorrectly applied Section 143 3 instead of Section 153C. Section 153C deals…

The Gauhati High Court refused to initiate disciplinary action against a Commissioner of Income Tax Appeals CIT A for hastily deleting an income tax addition of Rs. 120.55 crore.…

The Orissa High Court disposed of a CGST matter following a revision in the monetary limit for filing appeals. The petitioner had challenged a GST demand, but during the pendency…

The Jammu, Kashmir, and Ladakh High Court ruled that excise duty exemption is not taxable under the Income Tax Act. The case involved a dispute over whether benefits received…

The Bombay High Court condoned the delay in filing Income Tax Returns ITR by a doctor who was on COVID duty. The court recognized the extraordinary circumstances faced by medical…

The ITAT remanded a matter to the CIT A for fresh adjudication due to the denial of a personal hearing to the assessee. The Tribunal observed that the assessee was not given an…

The ITAT quashed a disallowance under Section 36 1 iii of the Income Tax Act related to interest-free advances given to a sister concern. The Tribunal found that the Assessing…

The Orissa High Court directed a petitioner challenging a demand for short payment of GST to file an appeal under Section 112 of the CGST and OGST Act. The petitioner contested…

The ITAT ordered a rehearing of an assessee's appeal after the Commissioner of Income Tax Appeals CIT A dismissed it for non-prosecution. The Tribunal found that the dismissal was…

MapmyIndia and Hyundai AutoEver have announced a joint venture JV to integrate mapping and location-based services for the South East Asian market. This collaboration aims to…

Waayu, a technology company providing innovative solutions, has expanded its services to Hyderabad and Secunderabad. The company aims to address local market needs with its unique…

Ola Electric reported a narrowing of its Q2 loss by 5.5% year-on-year to INR 495 crore. The reduction in losses is attributed to improved operational efficiencies and increased…

Tracxn, a market intelligence platform, has allotted 4.47 lakh equity shares under its Employee Stock Ownership Plan ESOP . This move aims to reward and retain its employees by…

On the third day of its IPO, Swiggy's issue has been subscribed to 95.42%. The strong response reflects investor confidence in the company's business model and growth prospects.…

Zoomcar, a leading self-drive car rental company, is set to raise $9.15 million from institutional investors. This funding round aims to support the company's expansion plans,…

A Bengaluru court has barred Swiggy from creating third-party rights over the Employee Stock Ownership Plan ESOP shares of a terminated executive. The executive, who was removed…

The GST Network GSTN issued an advisory on GST registration applications for businesses operating in "other territory" areas. The advisory aims to streamline the registration…

Tracxn reported a loss of INR 4.65 crore in Q2, slipping into the red due to higher operational expenses and investments in technology. Despite the loss, the company remains…

The GST Network GSTN has announced a waiver scheme under Section 128A to provide relief to taxpayers facing interest and penalties on late GST filings. The scheme aims to…

MapmyIndia reported an 8% year-on-year decline in its Q2 profit to INR 30.35 crore. The decrease in profit is attributed to higher operational costs and increased investments in…

The Income Tax Department recently conducted raids on Truecaller's India offices as part of ongoing compliance checks. The raids were initiated following allegations of…

This article explores the reasons behind the growing popularity of Limited Liability Partnerships LLPs among small businesses. LLPs offer the advantages of limited liability…

This article discusses the proposed revamp of the Income Tax Act, which aims to simplify tax provisions and make them more taxpayer-friendly. The revamp focuses on reducing…

The Gauhati High Court refused to initiate disciplinary action against a Commissioner of Income Tax Appeals CIT A for hastily deleting an income tax addition of Rs. 120.55 crore.…

The Supreme Court ruled that salaries paid to nuns and priests working in government-aided schools are subject to income tax. The case involved an appeal against the taxability of…

The Competition Commission of India CCI found that Swiggy and Zomato breached competition laws. The probe revealed that both companies engaged in anti-competitive practices, such…

BlackBuck, a logistics tech startup, reported a significant reduction in its Q1 loss to INR 28.6 crore, while its revenue soared by 55% year-on-year. The improvement in financial…

The CESTAT ordered a reassessment of a CENVAT credit refund claim, citing a lack of overlapping claims between Software Technology Parks of India STPI and Export Oriented Units…

The CESTAT ruled that no customs duty is applicable on the manufacturing of stainless steel coils under the Advance Authorisation Scheme. The case involved a dispute over the…

The Madras High Court directed the Customs Department to expedite the refund of redemption fine and penalty due to unjustified delay in considering a case de novo. The petitioner…

Razorpay reported a 4.5x increase in its FY24 profit to INR 34 crore. The significant growth in profitability is attributed to the expansion of its payment solutions and increased…

The Customs, Excise and Service Tax Appellate Tribunal CESTAT ruled that service tax is not payable on the construction of residential complexes. The decision came in a case where…

The Punjab and Haryana High Court granted bail to an individual accused of wrongfully claiming GST Input Tax Credit ITC by raising fake invoices. The accused allegedly engaged in…