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Once cash withdrawals are proven, burden shifts to Income Tax Dept to disprove their use for deposits: ITAT: The ITAT has ruled that once cash withdrawals are proven, the burden…
The Bombay High Court imposed a ₹20,000 cost on the Maharashtra VAT Department for violating natural justice principles by harassing the assessee. The court criticized the…
The ITAT deleted a penalty under Section 272A 1 d of the Income Tax Act, imposed for non-compliance with notices issued under Section 142 1 . The assessee's non-compliance…
The National Consumer Disputes Redressal Commission NCDRC dismissed a complaint from buyers who purchased units in M3M India projects to earn rental profits, ruling they were not…
The Ernakulam District Consumer Commission held RBL Bank liable for imposing hidden charges on a credit account, despite repeated requests to close it. The bank’s failure to act…
The NCDRC ordered Godrej Properties to refund ₹75.24 lakhs to homebuyers due to unfulfilled promises, including missing key amenities like a 24-metre-wide road. Despite the…
The Delhi High Court ruled that business similarity is essential when including or excluding comparable data for determining the arm's length price in transfer pricing cases. This…
The Mumbai ITAT held that delayed allotment of shares doesn’t justify treating share application money as a loan. The tribunal deleted the notional interest, asserting that…
The Bombay High Court set aside an injunction order that had previously enforced a non-compete clause in a post-termination agreement. The Court ruled that such a clause violated…
The Kerala High Court ruled in a case where a wife accused her husband of criminal breach of trust over gold jewelry. The Court examined whether the husband had misappropriated…
The Kerala High Court ordered enhanced compensation for land acquired for the construction of the Brahmapuram Solid Waste Treatment Plant. The court determined that the…
The Bangalore ITAT ruled that sales commission paid to an overseas subsidiary for non-technical services does not qualify as fees for technical services FTS and thus does not…
The NCLT Mumbai ruled that third parties cannot participate in insolvency petitions filed under Section 7 of the IBC during the pre-admission stage. This ruling clarifies that…
The NCLT Mumbai clarified that late submissions of Expressions of Interest EOI in corporate insolvency resolution processes are invalid under Regulation 36A of the CIRP…
The National Company Law Tribunal NCLT dismissed an insolvency plea filed against Wipro by a US-based cloud service provider. The petitioner claimed unpaid dues for services…
A man in Gujarat, posing as an arbitrator since 2019, was arrested for duping litigants. The accused misrepresented himself as an authorized arbitrator, conducting fake…
The Delhi High Court provided relief to a former Kingfisher Airlines pilot, Satwant Singh Sanghera, by quashing a tax demand of ₹11 lakh. The court ruled that the tax authorities…
The Allahabad High Court granted interim relief under Section 129 of the Uttar Pradesh Goods and Services Tax UPGST Act, allowing a company to challenge an order without…
The Supreme Court ruled that an eviction order under the Public Premises Act does not bar arbitration for resolving contractual disputes. The court clarified that while the…
D2C lifestyle brand Zouk raised $10 million to expand its presence in the market. The funding round was led by Stellaris Venture Partners and others. The company, known for its…
Zomato's Q2 profit dropped by 30% to INR 176 crore compared to the previous quarter. Despite this, the company's revenue saw a rise, driven by increased food delivery orders and…
Zomato's board approved a plan to raise INR 8,500 crore through a Qualified Institutional Placement QIP . The funds will be used for business expansion, including potential…
Zomato is set to acquire an 8% stake in kitchen appliance maker Byondnxt. The acquisition is part of Zomato's strategy to diversify its business and enter the consumer appliances…
Blinkit reported a significant revenue increase in Q2, doubling its year-on-year growth to INR 1,156 crore. The online grocery delivery platform saw an upsurge in orders and…
The Ernakulam District Consumer Commission held RBL Bank liable for imposing hidden charges on a credit account, despite repeated requests to close it. The bank’s failure to act…
The NCLT Mumbai held that issuing a demand notice to change the default date during the prohibited period is not allowed. This ruling protects creditors by ensuring that no…
D2C lifestyle brand Zouk raised $10 million to expand its presence in the market. The funding round was led by Stellaris Venture Partners and others. The company, known for its…
OYO entered the corporate travel sector with its new B2B venture aimed at catering to businesses. This strategic move is part of OYO's effort to diversify its offerings and…
Blinkit's market share in Delhi NCR saw a decline as competition in the online grocery space intensified. Rivals such as BigBasket and Swiggy Instamart gained ground, impacting…
MPL parent M-Leagues reported a 22% increase in revenue for FY24, reaching $128 million. The growth was driven by a rise in user engagement, particularly in the mobile gaming…
SEBI issued a circular inviting public feedback on the proposed regulatory framework for specified digital platforms SDPs . These platforms employ AI/ML to automate investment…
RBI Deputy Governor Michael Patra forecasts India’s GDP growth at 7.2% for FY25, based on positive trends in investment and consumption. He highlighted that resilient domestic…
HSCC India Ltd. has secured contracts worth ₹1,322.48 crore for healthcare infrastructure projects. The contracts are part of various government initiatives to improve healthcare…
India and the US have launched a $1 billion initiative to promote low-carbon cooling technologies. This partnership aims to develop sustainable cooling solutions that reduce…
Standard Chartered Bank is focusing on growing its SME banking portfolio, aiming to tap into the increasing demand for credit from small and medium-sized enterprises. The bank…
The Self-Regulatory Organization SRO for micro-lenders has proposed capping the return on assets RoA at 4%, to promote sustainable growth in the sector. This follows concerns over…
HSCC India Ltd. has secured contracts worth ₹1,322.48 crore for healthcare infrastructure projects. The contracts are part of various government initiatives to improve healthcare…
Jana Small Finance Bank’s stock dropped 11% following a 21% decline in net profit for Q2 FY25. The fall in profit is attributed to higher provisioning and slower loan growth.…
The Directorate General of Foreign Trade DGFT is working to enhance collaboration with private players to boost MSME participation in exports. The initiative focuses on leveraging…
Allianz SE is in talks to exit its joint ventures with Bajaj Finserv in both life and general insurance. The potential exit reflects Allianz’s strategic shift towards…
The Supreme Court reaffirmed that authorities lack the power to seize currency under the GST Act, reiterating the importance of adhering to legal provisions when exercising…
India and the US have launched a $1 billion initiative to promote low-carbon cooling technologies. This partnership aims to develop sustainable cooling solutions that reduce…
The RBI has added 13 more entities to its alert list of unauthorized forex trading platforms. These platforms, which operate without regulatory approval, have been flagged for…
The Indian government has accelerated the disinvestment process for IDBI Bank, with due diligence set to begin in November. The move comes as the government aims to reduce its…
CRISIL has warned that the RBI’s move to slow down gold loan growth could lead to an uptick in delinquencies. The central bank’s efforts to curb gold loan growth are aimed at…
Standard Chartered Bank is focusing on growing its SME banking portfolio, aiming to tap into the increasing demand for credit from small and medium-sized enterprises. The bank…
The Kerala High Court ruled that a school principal's insistence on wearing a uniform is not cruelty under the Juvenile Justice Act. The court found no abuse or mistreatment in…
The Supreme Court of India set aside a remission condition requiring convicts to behave decently to be eligible for release. This judgment underscores that behavioral conditions…
The Delhi High Court ruled that a wife sharing a household is not entitled to exclusive ownership or possession of the property. This judgment clarifies that marital arrangements…
Sonam Wangchuk withdrew his plea from the Delhi High Court, ending his protest after an agreement was reached on the environmental concerns he raised. This decision marks a…
Once cash withdrawals are proven, burden shifts to Income Tax Dept to disprove their use for deposits: ITAT: The ITAT has ruled that once cash withdrawals are proven, the burden…
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