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The Jharkhand High Court ruled that a co-owner cannot object to the execution of an eviction order simply because they were not made a party to the original suit. The court held…
The Bombay High Court upheld the dismissal of a security associate for theft, stating that violating a position of trust justifies dismissal regardless of the value of the stolen…
The Adani Group is looking to acquire a 46.64% stake in ITD Cementation from its promoters. This acquisition is part of Adani’s strategy to expand its presence in the…
The Gujarat High Court ruled that the Sabka Vishwas Legacy Dispute Resolution Scheme, 2019 SVLDRS applies to any show cause notice SCN for penalty or late fee, regardless of…
The Income Tax Appellate Tribunal ITAT has reversed the additions made by the Assessing Officer AO and upheld the legitimacy of long-term capital gains from share transactions.…
The Central Board of Direct Taxes CBDT has extended the due date for filing Income Tax Returns for assessees requiring audit to November 15, 2024. This extension provides…
The Income Tax Appellate Tribunal ITAT has affirmed the deductibility of Employee Stock Option Plan ESOP expenses as legitimate business expenditures under Section 37 of the…
The Income Tax Appellate Tribunal ITAT has upheld the decision of the Commissioner of Income Tax Appeals regarding sales commission payments, concluding that there is no TDS…
SBI Life Insurance’s Managing Director and CEO has stated that the company will be least affected by the new surrender value norms introduced by the Insurance Regulatory and…
The Income Tax Appellate Tribunal ITAT quashed the Assessing Officer’s AO disallowance of a Section 57 deduction claimed on interest income from personal funds. The ITAT ruled in…
The Supreme Court of India set aside the National Company Law Appellate Tribunal NCLAT order that halted insolvency proceedings against Byju’s following a settlement with the…
The Financial Intelligence Unit FIU has imposed a fine of Rs 54 lakh on Union Bank of India for violations of the Prevention of Money Laundering Act PMLA . The violations pertain…
The National Company Law Tribunal NCLT has issued a notice to SpiceJet in response to an insolvency plea filed over a Rs 68 crore default. The plea was filed by an aircraft…
The Supreme Court has ruled that service tax is not separately payable on interchange fees as tax has already been paid on the merchant discount rate MDR . This decision came in…
The Madras High Court has quashed a GST demand order issued under Section 74, triggered by a mistaken entry of B2C sales in GSTR 1. The court found that the order lacked a…
The Central Board of Direct Taxes CBDT has extended the due date for filing audited Income Tax Returns for the Assessment Year 2024-25 to November 15, 2024. This extension,…
The Telangana High Court ruled that capital invested in purchasing shares of an infrastructure facility before June 1998 cannot be included in the total income for tax purposes.…
The Gujarat High Court ruled that the Sabka Vishwas Legacy Dispute Resolution Scheme, 2019 SVLDRS applies to any show cause notice SCN for penalty or late fee, regardless of…
The Income Tax Appellate Tribunal ITAT has upheld the decision of the Commissioner of Income Tax Appeals regarding sales commission payments, concluding that there is no TDS…
The Income Tax Department has launched the latest version 1.1.7 of the Common Offline Utility for filing Income-tax Returns ITR 1 to ITR 4 for Assessment Year 2024-25. Released on…
The Income Tax Department has released updated utilities and schema for filing ITR-7, applicable to entities required to furnish returns under sections 139 4A , 139 4B , 139 4C ,…
The government has doubled the loan limit under the Pradhan Mantri Mudra Yojana PMMY from Rs 10 lakh to Rs 20 lakh, effective immediately. This increase aims to support small…
SBI Life Insurance’s Managing Director and CEO has stated that the company will be least affected by the new surrender value norms introduced by the Insurance Regulatory and…
The Kolkata Bench of the Customs, Excise, and Service Tax Appellate Tribunal CESTAT reduced the redemption fine and penalty to 10% and 5%, respectively, for the unlicensed import…
The Madras High Court has quashed a GST demand order issued under Section 74, triggered by a mistaken entry of B2C sales in GSTR 1. The court found that the order lacked a…
The Karnataka Sessions Court convicted an individual in a 2014 Dalit atrocity case. The case involved allegations of assault and abuse against a Dalit individual. The court found…
The Bombay High Court ruled that arbitration proceedings cannot be commenced against third parties who are not parties to the arbitration agreement. The case involved a dispute…
Swiggy has reduced its IPO valuation target by 10-16% amid market volatility, now aiming for a valuation between $12.5 billion and $13.5 billion. The decision comes as the Indian…
India’s forex reserves have declined for the third consecutive week, following a stellar run. The reserves fell by $2.163 billion to $688.267 billion as of October 18, 2024. The…
Sectoral mutual funds have delivered impressive returns during Diwali, with some funds achieving up to 64% returns. The defense sector led the performance, followed by PSU equity…
UCO Bank has set a target to recover ₹3,000 crore by the end of the fiscal year, driven by strong credit growth and focused recovery efforts. The bank’s management emphasized the…
The NRI insurance customer base in the UAE, US, and Saudi Arabia has seen significant growth, driven by increasing demand for insurance products among expatriates. Insurance…
The National Company Law Appellate Tribunal NCLAT ruled that resolution professionals managing corporate debtor assets are responsible for the payment of pre-CIRP dues. The case…
The Delhi High Court ruled that entities operating on an economic upscale cannot be included as comparables for those working on a cost-plus pricing basis in transfer pricing…
The Income Tax Appellate Tribunal ITAT remanded a case to the Assessing Officer AO for verification after the Commissioner of Income Tax Appeals CIT A accepted additional evidence…
The BSE Sensex and NSE Nifty indices experienced significant volatility, reflecting broader market trends and investor sentiment. The live blog provides real-time updates on stock…
The Securities and Exchange Board of India SEBI has imposed a fine of ₹16 lakh on Edelweiss Asset Management Company AMC and two of its officials for violating mutual fund…
Following a salary scam in Panchkula, the Haryana Home Department has ordered an audit of all Home Guard units in the state. The scam involved the misappropriation of funds meant…
Shares of Bandhan Bank, IDFC First Bank, RBL Bank, and CSB Bank hit 52-week lows amid broader market declines. The financial sector faced significant selling pressure, with 19…
Apple supplier Jabil is planning to expand its manufacturing footprint in India by setting up two additional plants. The company aims to invest $250-$275 million in these new…
The Kolkata Bench of the Customs, Excise, and Service Tax Appellate Tribunal CESTAT reduced the redemption fine and penalty to 10% and 5%, respectively, for the unlicensed import…
The Indian government has ordered social media platforms Meta and X to share data on individuals behind recent bomb threats targeting Indian airlines. Over 150 flights operated by…
General Catalyst, a US-based venture capital firm, has raised $8 billion for its Fund XII to support startups globally. The fund includes $4.5 billion for core VC funds focused on…
Healthify, a Bengaluru-based healthtech startup, has raised an additional $20 million, closing its Pre-Series D round at $45 million. The funding round was led by existing…
Infosys partners with NVIDIA to roll out small language models: Infosys has partnered with NVIDIA to develop and deploy small language models aimed at enhancing AI-driven…
MUFG Bank, Koch Group seek CCI approval for stake in Shiprocket: MUFG Bank and Koch Group have approached the Competition Commission of India CCI for approval to acquire a stake…
Swiggy launches international login for users to order food from abroad: Swiggy has introduced an international login feature that allows users to order food from abroad. This new…
Gnani.ai partners with NVIDIA to launch speech-to-speech LLM: Gnani.ai has partnered with NVIDIA to launch a speech-to-speech large language model LLM aimed at revolutionizing…
YouTube unveils programme to boost revenue for creators in India: YouTube has launched a new program aimed at increasing revenue opportunities for content creators in India. The…
DPIIT, HCLSoftware team up to drive manufacturing incubation initiative: The Department for Promotion of Industry and Internal Trade DPIIT has partnered with HCLSoftware to launch…
The Jharkhand High Court ruled that a co-owner cannot object to the execution of an eviction order simply because they were not made a party to the original suit. The court held…
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