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The Financial Express reports that 43% of new applicants in the third round of the Production Linked Incentive PLI scheme for white goods are MSMEs, according to the Commerce…
RBI Governor Shaktikanta Das highlighted India’s vibrant startup ecosystem, with over 140,000 startups and $150 billion in funding, making it the third most vibrant globally. He…
The Delhi ITAT ruled that Bharti Airtel is not liable to pay TDS on remittance of bandwidth charges and agency fees. The tribunal held that the payments made by Bharti Airtel to…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT ruled that service tax is not leviable on rental agreements in the name of individual partners for jointly owned…
The Income Tax Department announced plans to scrutinize high-risk refund claims for the assessment year 2024-25 under a new Standard Operating Procedure SOP . The SOP aims to…
As of October 10, 2024, India’s net direct tax collections for the fiscal year 2024-25 have surged by 18.35%, amounting to Rs. 11.25 lakh crore. This increase is attributed to…
The Supreme Court of India granted bail to a Hyderabad businessman involved in a money laundering case linked to the Delhi excise policy scam. The court considered the lack of…
The Jharkhand High Court granted bail to an individual accused in a Rs. 54 crore fake Input Tax Credit ITC case due to lack of evidence. The court noted that the prosecution…
EaseMyTrip’s board has approved issuing one bonus equity share for every fully paid-up equity share, marking its third bonus share issue. The company will issue 177.20 crore…
The Competition Commission of India CCI may penalize WhatsApp for its controversial privacy policy changes. Reports suggest that the CCI is investigating whether the new policy,…
The Kerala High Court ruled that Section 74 of the CGST Act can be invoked if an assessee fails to report actual sales to evade tax. The court emphasized that deliberate…
The Allahabad High Court ruled that non-submission of a reply to a show cause notice SCN cannot be a ground for the cancellation of GST registration. The court emphasized that the…
The Central Board of Direct Taxes CBDT granted income tax exemptions to four government bodies under Section 10 46 of the Income Tax Act. The exemptions apply to the National…
The Karnataka High Court quashed the blocking of Input Tax Credit ITC by tax authorities without providing a proper hearing or establishing concrete reasons. The court ruled that…
The legal community in India is in uproar over a recent notification issued by the Bar Council of India BCI on September 24, 2024. The notification mandates criminal background…
The GSTN has issued an advisory for taxpayers regarding new GST provisions for metal scrap transactions. This advisory mandates that taxpayers dealing in metal scrap must comply…
The Gujarat Authority for Advance Ruling AAR ruled that table covers, TV covers, and washing machine covers attract 18% GST. The decision was made in the case of Om Vinyls Private…
The NCLAT dismissed an appeal under Section 61 of the Insolvency and Bankruptcy Code IBC , 2016, due to non-compliance with the limitation period. The appellant’s request for…
The Kerala High Court ruled that reassessment proceedings under the Income Tax Act, 1961 cannot be initiated against a deceased assessee. The court emphasized that the legal heirs…
The NCLT has ruled that objections raised by an applicant of a resolution process cannot be entertained at a belated stage after the sale has already been confirmed. The tribunal…
The Andhra Pradesh High Court has ruled that Section 81 of the CGST Act cannot be invoked to declare a transfer of property void without determining the nature of the transaction.…
The CESTAT has quashed a show cause notice and order demanding service tax on a works contract, ruling that the demand was not justified. The tribunal emphasized the need for…
Ola Electric shares tumbled 3% amid regulatory scrutiny over the sale of its boss. The company’s stock price was affected by concerns about potential regulatory actions and the…
The Good Bug raised $3.5 million from Sharrp Ventures and Fireside Ventures. The company, which focuses on gut health and probiotic products, plans to use the funds to expand its…
Purplle closed its Series F funding round at INR 1,500 crore. The beauty and personal care e-commerce platform plans to use the funds to expand its product offerings, enhance its…
The GST portal’s Invoice Management System IMS facility has gone live, offering features like real-time invoice tracking and validation. This system aims to enhance compliance and…
IdeaForge expanded its ESOP pool with additional stock options. The company, known for its drone technology solutions, aims to attract and retain top talent by offering more…
Jio Platforms reported a 23% year-on-year increase in Q2 profit, reaching INR 6,539 crore. The company’s strong financial performance was driven by robust growth in its digital…
The Allahabad High Court granted bail to a man on the condition that he marries the POCSO victim. The court’s decision was based on the unique circumstances of the case, where the…
A plea was filed in the Supreme Court seeking to allow litigants access to a virtual hearing app. The petition argued that providing access to the app would ensure greater…
The Supreme Court granted bail to businessman Ajay Nawandar in the Rs. 34,615 crore Dewan Housing Finance Limited DHFL bank loan scam case. Nawandar was accused of being involved…
The CESTAT has quashed a confirmation of service tax and CENVAT credit demand based on grounds different from the show cause notice. The tribunal ruled that the demand must align…
The Kerala High Court dismissed an application by the survivor in the 2017 actress assault case, advising her to file a fresh plea for a Special Investigation Team SIT probe into…
SpiceJet faces a new insolvency plea by aircraft lessor Aviator ML 29641 Limited over an alleged default of ?58.64 crore. The lessor has approached the National Company Law…
The Punjab and Haryana High Court imposed a fine of ?1 lakh on Panjab University for wrongfully failing a law student in his 6th semester BA LLB examination. The court found that…
The Supreme Court refused to entertain a plea challenging the Lieutenant Governor’s power to nominate 5 MLAs to the Jammu and Kashmir Assembly. The court directed the petitioner…
The Supreme Court has ruled that even under strict provisions of the Prevention of Money Laundering Act PMLA , bail can be granted to the sick and infirm. The court’s decision…
The Supreme Court has granted bail to Abhishek Boinpally in the Delhi Excise Policy case. The court’s decision takes into account the circumstances of the case and the need to…
The Allahabad High Court has ruled that a long-standing consensual adulterous relationship does not constitute rape. The court’s decision clarifies the legal distinction between…
The Kerala High Court has set up a counselling and grievance redressal mechanism for judges in the district judiciary. The court’s initiative aims to address the well-being and…
The Allahabad High Court has observed that a second FIR for the same incident is permissible where there is a different version of evidence and discovery is made on the factual…
The Supreme Court has ruled that once a transaction is hit by lis pendens under Section 52 of the Transfer of Property Act, bona fide purchase or lack of notice of the agreement…
The Supreme Court has refused to entertain a plea to criminalize sexual offences against men, trans persons, and animals in the Bharatiya Nagarik Suraksha Sanhita BNSS . The…
The Supreme Court has dismissed a petition seeking to direct the Union Government and Prasar Bharati to run a 24-hour Sindhi language Doordarshan TV channel. The court stated that…
The Delhi High Court has granted compassionate allowance to the widow of a dismissed employee under Rule 41 of the Central Civil Services Pension Rules, 1972. The court overturned…
The Delhi High Court has held that the power to issue notice for scrutiny assessment under Section 143 2 of the Income Tax Act, 1961 is not restricted to the Assessing Officer or…
The CBIC has clarified the terms “as is” and “as is, where is basis” mentioned in previous GST circulars. This clarification aims to remove ambiguity in interpreting these terms,…
The Delhi High Court ruled that Anganwadi workers can earn from other sources as their recompense from Anganwadi work is meagre. The court emphasized that Anganwadi workers, who…
The ITAT has upheld the deletion of bogus expenditure additions, emphasizing the need for substantive evidence. The tribunal ruled that without concrete evidence, such additions…
The Madras High Court ordered Star Health Insurance to halt its online operations following a data breach. The court directed the company to stop accepting new policies and…
The Financial Express reports that 43% of new applicants in the third round of the Production Linked Incentive PLI scheme for white goods are MSMEs, according to the Commerce…
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