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Inflexor Ventures announced the first close of its Opportunities Fund at INR 280 crore, aiming to invest in early-stage technology startups. The fund will focus on sectors such as…
The GST Network GSTN has issued an advisory lowering the e-invoice reporting threshold to an Annual Aggregate Turnover AATO of Rs 10 crore and above, effective April 1, 2025.…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has denied a cash refund for service tax paid under the reverse charge mechanism RCM due to non-compliance with GST…
The National Company Law Appellate Tribunal NCLAT has ruled that a petition under Section 7 of the Insolvency and Bankruptcy Code IBC must be decided first when both arbitration…
The Income Tax Appellate Tribunal ITAT has dismissed the Revenue’s appeal against the Madras Cricket Club, citing the tax effect being below ₹60 lakhs as per the Central Board of…
The Income Tax Appellate Tribunal ITAT has restored an application for 80G 5 approval for reconsideration, following a new circular that permits fresh submissions. The case…
The National Company Law Appellate Tribunal NCLAT has ruled that an approved resolution plan cannot be withdrawn unless there is a breach of Section 30 2 of the Insolvency and…
The National Company Law Appellate Tribunal NCLAT has ruled that Section 10A of the Insolvency and Bankruptcy Code IBC cannot be considered a valid defense once a valid default…
The Delhi High Court has ruled that rewards given to informers under the Sabka Vishwas Legacy Dispute Resolution Scheme SVLDRS qualify as ex-gratia payments. The case involved an…
The National Company Law Appellate Tribunal NCLAT has ruled that Section 10A of the Insolvency and Bankruptcy Code IBC cannot be considered a valid defense once a valid default…
The Income Tax Appellate Tribunal ITAT has restored an application for 80G 5 approval for reconsideration, following a new circular that permits fresh submissions. The case…
The Orissa High Court has allowed a petition to apply for rectification under Section 148 of the Odisha Goods and Services Tax OGST Act within a period of six months. The case…
The Income Tax Appellate Tribunal ITAT has distinguished between total business turnover and business income, quashing ex-parte additions made under Section 69 of the Income Tax…
The Supreme Court issued a warning to states non-compliant with its orders on preventing mob lynching and cow vigilantism. The case involved a PIL filed by the National Federation…
The Madras High Court has quashed an income tax assessment order, deeming it unsustainable and jurisdictionally defective for disregarding court directions. The case involved an…
The Delhi High Court has ruled that rewards given to informers under the Sabka Vishwas Legacy Dispute Resolution Scheme SVLDRS qualify as ex-gratia payments. The case involved an…
The Madhya Pradesh High Court has ruled that income from an Association of Persons AOP or Body of Individuals BOI should be included in the assessee’s taxable income, and the…
The National Company Law Appellate Tribunal NCLAT has ruled that a settlement plan under Section 12A of the Insolvency and Bankruptcy Code IBC cannot be considered by the…
The National Company Law Appellate Tribunal NCLAT has ruled that a recall notice issued during the cut-off period under Section 10A of the Insolvency and Bankruptcy Code IBC does…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has ruled that assembling imported TV parts qualifies as manufacturing, allowing the importer to avail concessional…
The Central Government has released the GST revenue collection report for October 2024, showing a significant increase in collections. The total gross GST revenue for October 2024…
ABB India is experiencing significant growth in Tier II and III cities, driving long-term gains. The company reported a robust second-quarter performance with a 78.3% increase in…
The Finance Ministry has received 6,500 suggestions for revamping the Income Tax Act through a dedicated portal within one month. The suggestions cover various aspects, including…
The Madhya Pradesh High Court has ruled that income from an Association of Persons AOP or Body of Individuals BOI should be included in the assessee’s taxable income, and the…
The Delhi High Court ruled that merely filing an arbitral award does not constitute a valid challenge under Section 34 of the Arbitration and Conciliation Act. The case involved a…
The Supreme Court held that prior sanction under Section 197 of the CrPC is mandatory to prosecute public servants for offences under the Prevention of Money Laundering Act PMLA .…
The Bombay High Court criticized trial courts for not adhering to the mandate of day-to-day trials under Section 309 of the CrPC. The court highlighted a rape case where only 10…
The Income Tax Appellate Tribunal ITAT has remanded a case back to the Commissioner of Income Tax Appeals CIT A for a fresh hearing, citing a violation of natural justice in an…
GST officers have uncovered a massive GST evasion scheme involving 18,000 fake companies, resulting in a loss of ₹25,000 crore. The Directorate General of GST Intelligence DGGI…
The Income Tax Appellate Tribunal ITAT has dismissed an appeal as infructuous after the assessee filed a fresh application for Section 80G approval. The case involved an assessee…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has allowed an anti-dumping duty exemption for imported resin, which was previously denied due to a discrepancy in…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has denied a cash refund for service tax paid under the reverse charge mechanism RCM due to non-compliance with GST…
The Karnataka High Court ruled that even if a child in conflict with the law is ordered to be tried as an adult, their bail application must be considered under Section 12 of the…
The upcoming income tax deadline for Forms 16B, 16C, 16D, and 16E is November 14, 2024. These forms are essential for reporting tax deducted at source TDS on various payments.…
The Central Board of Direct Taxes CBDT has issued new monetary limits for waiving or reducing interest on pending dues under Section 220 2 of the Income Tax Act. The revised…
The Central Board of Direct Taxes CBDT has set new limits for waiving or reducing interest under Section 220 2 of the Income Tax Act. The revised guidelines, effective…
The government has tightened GST rules for airlines regarding unpaid taxes on cancelled tickets. Airlines must now share comprehensive passenger and booking data daily with tax…
The U.P. Power Corporation Limited UPPCL has announced that 17 specific power-related services are now exempt from GST, following directives from the Union Finance Ministry.…
The Rajasthan Real Estate Appellate Tribunal REAT has directed the Air Force Naval Housing Board to pay interest to homebuyers for delayed possession of their homes. The case…
The GST Network GSTN has issued an advisory lowering the e-invoice reporting threshold to an Annual Aggregate Turnover AATO of Rs 10 crore and above, effective April 1, 2025.…
The Central Board of Indirect Taxes and Customs CBIC has mandated virtual hearings for GST, Customs, Excise, and Service Tax appeals. This directive, effective from November 5,…
A Cuttack-based realtor has been fined ₹50 lakh by the Odisha Real Estate Regulatory Authority ORERA for violating the Odisha Real Estate Regulation and Development Act, 2016. The…
The Reserve Bank of India RBI has updated its Know Your Customer KYC norms to align with recent amendments in the Prevention of Money Laundering Maintenance of Records Rules. The…
The Reserve Bank of India RBI has secretly repatriated 102 tonnes of gold from London to strengthen its reserves. This move is part of a strategy to secure national wealth amid…
The GST Network GSTN has introduced Form GST DRC-03A to address issues where taxpayers paid demands using Form DRC-03 instead of the designated payment facility on the GST portal.…
Deutsche Bank is planning a significant capital infusion into its India operations to support growth and expansion. This move underscores the bank’s commitment to the Indian…
The Insurance Regulatory and Development Authority of India IRDAI has proposed changes to the Investment Advisory Committee IAC meeting frequency and notice period structure. The…
The Delhi government has introduced new regulations to safeguard citizens from financial frauds. These regulations aim to enhance consumer protection and ensure financial security…
At the BSFI Summit, heads of non-banking financial companies NBFCs emphasized that they do not need to become banks to survive and thrive. They highlighted the unique strengths of…
Modifi received a strategic investment from SMBC Asia Rising Fund, which will help the company expand its trade finance solutions. The investment will enable Modifi to enhance its…
Inflexor Ventures announced the first close of its Opportunities Fund at INR 280 crore, aiming to invest in early-stage technology startups. The fund will focus on sectors such as…
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