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Swiggy is targeting a valuation of $12.7 billion for its $1.4 billion IPO, set to launch in early November. The IPO will include a fresh issue of ₹3,750 crore and an offer for…
HDB Financial Services plans to launch a ₹12,500 crore IPO, with parent company HDFC Bank selling ₹10,000 crore worth of shares through an Offer for Sale OFS . This IPO aims to…
The Karnataka government is considering a 1-2% transaction fee on platforms like Zomato and Uber to generate additional revenue. This proposal aims to address the state’s fiscal…
The Finance Ministry has notified the recruitment rules for Group ‘A’ executive posts in the GST Council Secretariat. The notification outlines the eligibility criteria, selection…
The Income Tax Department has launched a special campaign to prevent the misuse of funds during the Maharashtra assembly elections. The campaign includes setting up a control room…
The CBDT has exempted the West Bengal Pollution Control Board from income tax under Section 10 46 of the Income Tax Act. The exemption applies to the income earned by the board…
The CBIC has approved Yogayatan Ports for import and export operations. The approval allows the port to handle international trade, facilitating the movement of goods and boosting…
The NFRA has declared the new audit quality management standards issued by the ICAI as void and illegal. The case involved the ICAI issuing new standards for audit quality…
Paytm has granted 4.81 lakh stock options to its employees as part of its employee stock ownership plan ESOP . This move is aimed at retaining talent and incentivizing employees…
The Bangalore ITAT ruled that interest on delayed customs duty payments is a deductible business expense. The tribunal found that the interest paid on delayed customs duty is…
The Chhattisgarh High Court upheld the imposition of a bond on Ayurvedic Medical Officer Dr. Ravichand Meshram, who took study leave, but quashed the condition prohibiting legal…
The ITAT has ruled that unsold flats held as stock-in-trade should be treated as business stock and not as income from house property. The case involved Palm Groves, which held…
The NCLAT has ruled that the look-back period for transactions under Section 43 4 of the IBC cannot be extended beyond the two-year limit. The case involved a corporate debtor…
The NCLAT has dismissed a petition filed under Section 95 of the IBC, which was aimed at thwarting arbitral proceedings already initiated. The case involved a corporate debtor who…
The NCLAT has ruled that a resolution professional RP cannot accept any claim after the lapse of the extended period of 90 days from the insolvency commencement date. The case…
The Central Government has set specific thresholds for determining arm’s length prices in international and specified domestic transactions under the Income Tax Act. For the…
The Rajasthan High Court granted bail to the owner of a vehicle seized under the NDPS Act for carrying poppy straw. The court found that mere ownership of the vehicle did not…
The Kerala High Court questioned the delay in investigating rape allegations against four higher police officials in Ponnani, Malappuram district. The court was hearing a plea…
The Delhi Court ruled that under Section 34 of the Arbitration Act, the court cannot substitute its own views or the views of the parties with those of the arbitral tribunal. The…
The Allahabad High Court has ruled that goods cannot be detained under Section 129 1 of the GST Act when the consignor claims ownership with a valid tax invoice and e-way bill.…
The Sikkim High Court has ruled that cess refunded prior to an overruling decision by the Supreme Court cannot be recovered retrospectively. The case involved the Central GST…
The NCLAT has ruled that interest under Section 5 21 of the Insolvency and Bankruptcy Code IBC does not constitute an operational debt. The case involved Khushbu Dye Chem Pvt.…
Direct tax collections in India have surged by 182 percent over the past decade, reaching Rs 19.60 trillion in FY24. This significant increase reflects the government’s efforts to…
The Institute of Chartered Accountants of India ICAI has issued a Standard Operating Procedure SOP for law enforcement agencies on handling chartered accountants during…
The Gujarat High Court ruled that a notice issued under Section 148A b of the Income Tax Act against a dissolved firm is invalid. The court emphasized that once a firm is…
The ITAT invalidated the reopening of an assessment under Section 147 of the Income Tax Act due to reliance on incorrect facts. The tribunal found that the reassessment was based…
The ITAT deleted a penalty disallowance after the assessing officer AO incorrectly applied Section 37 of the Income Tax Act to an amount that had already been disallowed in the…
The Group of Ministers GoM is considering merging the GST compensation cess into the main tax structure. This move aims to simplify the tax system and ensure a more streamlined…
An accountant has been accused of a Rs 5 crore GST scam by using the GST number of a defunct factory. The scam involved fraudulent transactions and misuse of the GST system,…
The ITAT ruled that VLCC Health Care Ltd.'s revenue-sharing model under its franchise agreement is not subject to Tax Deducted at Source TDS . The Revenue’s appeal against the CIT…
The National Company Law Tribunal NCLT has ruled that the non-obtaining of a No Objection Certificate NOC from the applicant does not invalidate documents of hypothecation or…
The Income Tax Appellate Tribunal ITAT has restored an appeal to the Commissioner of Income Tax Appeals for fresh consideration, citing the impact of COVID-19 on limitation…
The Allahabad High Court has ruled that goods cannot be detained under Section 129 1 of the GST Act when the consignor claims ownership with a valid tax invoice and e-way bill.…
The Sikkim High Court has ruled that cess refunded prior to an overruling decision by the Supreme Court cannot be recovered retrospectively. The case involved the Central GST…
Direct tax collections in India have surged by 182 percent over the past decade, reaching Rs 19.60 trillion in FY24. This significant increase reflects the government’s efforts to…
The ITAT ruled that the onus is on the assessing officer AO to prove unreasonableness in expenditure when invoking Section 40A 2 b of the Income Tax Act. The case involved…
The ITAT deleted a penalty disallowance after the assessing officer AO incorrectly applied Section 37 of the Income Tax Act to an amount that had already been disallowed in the…
The Kerala High Court ruled that a rectification order is invalid if it fails to provide reasons justifying the exercise of rectification power. The court observed that the…
Swiggy is targeting a valuation of $12.7 billion for its $1.4 billion IPO, set to launch in early November. The IPO will include a fresh issue of ₹3,750 crore and an offer for…
The market capitalization of four of the top ten most valued Indian companies increased by ₹81,151 crore last week. ICICI Bank and HDFC Bank led the gains, with significant…
The latest market news on October 20, 2024, highlights key factors influencing stock market trends this week, including Q2 earnings reports, Foreign Institutional Investor FII…
Punjab Jewels was awarded the Best Regional Chain of the Year in Central India. This recognition highlights the company’s excellence in customer service, product quality, and…
HDB Financial Services plans to launch a ₹12,500 crore IPO, with parent company HDFC Bank selling ₹10,000 crore worth of shares through an Offer for Sale OFS . This IPO aims to…
The Finance Ministry is considering a proposal to increase the number of Chief General Managers CGMs in Public Sector Banks PSBs . This move aims to strengthen the leadership…
New-age tech stocks experienced a mixed week amid market volatility, with Zomato emerging as the biggest loser. The company’s stock price dropped significantly due to concerns…
The Software Technology Parks of India STPI will support 25 startups under its LEAP Ahead 2.0 program. This initiative aims to foster innovation and entrepreneurship in the tech…
The Karnataka government is considering a 1-2% transaction fee on platforms like Zomato and Uber to generate additional revenue. This proposal aims to address the state’s fiscal…
Indian startups raised $478 million across 29 deals between October 14 and 19, marking a 319% increase from the previous week. Edtech emerged as the most funded sector, with…
The NCLAT has ruled that the assets of a partnership firm do not amount to the property of a personal guarantor. This decision delineates the separation of personal and business…
The ITAT has condoned a delay in filing due to rectification efforts and the death of a chartered accountant, restoring the case to the Commissioner of Income Tax Appeals . This…
Swiggy is targeting a valuation of $12.7 billion for its $1.4 billion IPO, set to launch in early November. The IPO will include a fresh issue of ₹3,750 crore and an offer for…
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