News & Judgements

A Delhi court has ruled that an arbitrator is the final authority on matters of fact and law in an arbitration proceeding, limiting the scope for judicial interference. The court…

The ITAT has upheld the Commissioner of Income Tax Appeals CIT A ruling, which accepted the genuineness of unexplained cash credits after reviewing a remand report. The case…

The NCLAT has permitted a former promoter to participate in the Corporate Insolvency Resolution Process CIRP , despite being disqualified by the Committee of Creditors CoC . The…

CESTAT has ruled that a customs house agent CHA is not legally obligated to verify the authenticity of the Import Export Code IEC for every import or export transaction. The case…

CBIC has removed the 10% export duty on certain rice varieties, bringing it down to nil. This decision was made to promote rice exports after a period of declining global demand…

India has imposed a $217 per metric ton MT anti-dumping duty on isopropyl alcohol IPA imports from China, Taiwan, and several other countries. IPA, widely used in pharmaceuticals,…

The Bombay High Court ruled that a trust's application for deemed registration under Section 12AA cannot be approved if it is not decided within six months. This ruling emphasizes…

CBIC has imposed a $234 per metric ton MT anti-dumping duty on unframed glass mirrors. The investigation revealed that these imports were negatively affecting the domestic…

The CBIC has imposed a $389 per metric ton MT anti-dumping duty on Sulphur Black imports. After a detailed investigation, the duty was implemented to address the impact of dumped…

The Central Board of Indirect Taxes and Customs CBIC has imposed a five-year anti-dumping duty on imports of cellophane transparent films. The investigation revealed that these…

In a case where the Principal Commissioner of Income Tax PCIT sought to invoke revisionary jurisdiction under Section 263, the ITAT ruled that mere differences in interpretation…

CBIC has imposed a five-year anti-dumping duty on thermoplastic polyurethane TPU imports to address price undercutting that was harming domestic manufacturers. TPU, used in…

The Central Information Commission ruled that GST return details cannot be disclosed under Section 158 1 of the CGST Act. The decision came after an RTI applicant sought…

The CBIC has amended Passenger Name Record PNR regulations, requiring aircraft operators to transfer passenger data 24 hours before departure and again at "wheels-off" time. This…

The ITAT provided relief to ICICI by deleting the disallowance of dividend income, ruling that Section 44, which deals with insurance company income, overrides Section 14A of the…

The ITAT granted registration under Section 12AB to a charitable organization, clarifying that Section 131 b applies only at the assessment stage. This decision provides relief to…

The AAR ruled that GST is not payable by Distribution Companies DISCOM on materials and installation of distribution systems when deposit work is undertaken by consumers. This…

The Patna High Court emphasized that a GST Appellate Authority must consider all grounds raised in the memorandum of appeal, even when deciding ex-parte. The court criticized the…

The Patna High Court stayed the recovery proceedings under Section 112 9 of the Bihar Goods and Services Tax BGST Act due to the non-constitution of the GST Tribunal. The court…

The Central Board of Indirect Taxes and Customs CBIC issued a corrigendum to the reverse charge mechanism RCM notification on renting immovable property under GST. The corrigendum…

The ITAT has remanded a case concerning the disallowance of interest expenses for fresh adjudication. The taxpayer’s interest expenses were disallowed, but ITAT found that the…

The Delhi High Court ruled that an Assessing Officer AO is not at fault for completing an income tax assessment once the jurisdiction to issue a notice under Section 143 2 is…

In a ruling by the Income Tax Appellate Tribunal ITAT , extended working hours were not considered a valid reason for assuming additional income as commission. The taxpayer was…

Pam Kaur, a Chartered Accountant of Indian origin, has become HSBC’s first female CFO in its 160-year history. Her journey began as a Chartered Accountant, and she climbed the…

The GST Network GSTN has introduced a validation process for bank account details in the GST portal. New and existing taxpayers must verify their bank account information within a…

GSTN has issued an advisory regarding GST REG-07 for buyers of metal scrap. The advisory outlines specific registration requirements and documentation for businesses involved in…

The GST Council is considering removing the tax on life and health insurance premiums, which could provide significant relief to policyholders. The move is aimed at making…

In a GST dispute, Akzo Nobel India received partial relief as the demand for ₹7 lakh was reduced after an appeal. The case involved a discrepancy in the company's GST filings, but…

The Delhi High Court granted bail to an accused involved in a PMLA case of cattle smuggling after a long period of incarceration. The accused had been in jail for several months,…

The income tax department reports a fivefold increase in the number of "crorepati" taxpayers over the past decade, showcasing the country's rising prosperity and improved tax…

The Delhi High Court confirmed that it can exercise its power of superintendence under Article 227 to review orders from commercial courts. This decision stemmed from an erroneous…

The Karnataka High Court canceled an October 26 Kambala race scheduled by a Bengaluru Kambala Samithi, citing administrative irregularities. Kambala, a traditional buffalo race,…

Following Zomato’s lead, Swiggy increased its platform fee to INR 10 per order. The hike aims to offset rising operational costs and enhance service quality. Swiggy’s decision…

The Delhi High Court ruled that it can exercise its power of superintendence under Article 227 of the Constitution to interfere with orders of commercial courts at the district…

The Income Tax Department released an updated utility for ITR-3, designed for individuals and professionals earning income from a business or profession. The new version is…

GSTN introduced a bank account validation process for non-core amendments to facilitate more secure and seamless updates to business details. This validation process requires…

GSTN issued an advisory for taxpayers registered under GST REG-07, which is meant for Tax Deductors and Collectors at Source TDS and TCS . The advisory outlines changes in the…

Blinkit launched a Seller Hub to help brands list their products on its platform, aiming to enhance the seller experience and streamline the onboarding process. The new feature…

Computer Age Management Services CAMS announced the inauguration of its second office facility at GIFT City SEZ, Gandhinagar, strengthening its presence in the financial hub.…

Bank employees in India are likely to transition to a 5-day work week by December 2024, pending final approval from the government. An agreement has already been signed between…

Shiprocket’s FY24 revenue increased by 21% to INR 1,316 crore, up from INR 1,089 crore in FY23. Despite this growth, the logistics unicorn reported a net loss of INR 595 crore, a…

Fino Payments Bank reported an 8% year-on-year increase in Q2 profit, reaching INR 21 crore. The profit growth was driven by higher transaction volumes and improved operational…

MakeMyTrip reported a nearly 800% increase in Q2 profit, reaching $17.9 million. The significant profit surge was driven by a rebound in travel demand and effective cost…

The Kerala Startup Mission invested INR 15 crore in Transition VC to support energy transition initiatives. This investment aims to fuel innovation in the energy sector and…

Zomato’s stock jumped 3% following an upbeat Q2 performance report. The company reported significant growth in revenue and a reduction in losses, driven by increased order volumes…

Jio Financial Services is exploring a partnership with Allianz to enter the insurance sector. The collaboration aims to leverage Jio’s extensive customer base and Allianz’s…

The Supreme Court allowed Zakir Naik to withdraw his plea to club multiple hate speech FIRs filed against him across India. Naik, a fugitive Islamic preacher, faces several cases…

The Supreme Court set aside an NCLAT judgment that halted insolvency proceedings against Byju’s, reinstating the process. The court found that the NCLAT had improperly approved a…

The Supreme Court upheld its 2008 decision to keep Swami Shraddhananda in jail for life without remission for the murder of his wife, Shakereh Khaleeli. Shraddhananda, a…

The Delhi High Court dismissed a husband’s plea for a gender test of his wife, alleging she was transgender. The court found the plea to be baseless and an abuse of the legal…