The Andhra Pradesh High Court ruled that an Assessing Officer AO cannot refer an assessee’s file to the Joint Commissioner JC for levying a penalty under Section 271D of the…
11/10/20241 min read
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The Andhra Pradesh High Court ruled that an Assessing Officer AO cannot refer an assessee’s file to the Joint Commissioner JC for levying a penalty under Section 271D of the…
The Gujarat Anti-Corruption Bureau ACB arrested two Central GST officers and a middleman for accepting a bribe of ?1.25 lakh from a bullion trader in Ahmedabad. The arrests…
The Calcutta High Court ruled that the Appellate Authority under the CGST Act cannot suo motu enhance tax liability without following the procedure outlined in Section 107 11 of…
The National Consumer Disputes Redressal Commission NCDRC ruled that failure to pay a portion of the sale price does not nullify the transfer of title in a property sale. The case…
The Madhya Pradesh High Court ruled that customs authorities cannot claim priority over banks for the recovery of dues from an assessee’s property. The case involved a dispute…
The Andhra Pradesh High Court ruled that a property transfer intended to evade tax liabilities constitutes a sham transaction under Section 81 of the CGST Act. The case involved a…
The National Company Law Tribunal NCLT in Mumbai ruled that a resolution professional cannot file an application after the approval of a resolution plan. The case involved a…
The National Company Law Tribunal NCLT in Mumbai dismissed a bidder’s challenge to the e-auction sale of a corporate debtor. The case involved a bidder who challenged the…
The National Company Law Appellate Tribunal NCLAT rejected a plea for condonation of delay due to non-compliance with the limitation period under Section 61 of the Insolvency and…
The Delhi High Court stayed the decision of the Apex Council regarding the result of a cricket match, in response to a petition filed under Section 9 of the Arbitration Act. The…
The Delhi High Court ruled that the scope of review under Article 227 is extremely narrow and cannot be invoked when interrogatories and discoveries allowed by the tribunal have a…
The interplay between Section 33 and Section 34 of the Arbitration Act significantly impacts the limitation period for challenging arbitral awards. Section 33 allows parties to…
The Punjab and Haryana High Court stayed the panchayat elections in parts of Punjab, citing blatant abuse of power by the state government. The court noted that candidates were…
Journalist Mahesh Langa moved the Gujarat High Court challenging the 10-day police remand granted by a magisterial court in an alleged GST fraud case. Langa, a senior assistant…
The Rajasthan High Court lifted the stay on the release of Alia Bhatt’s film ‘Jigra,’ imposed by a commercial court over a trademark dispute. The court ruled that naming the movie…
The Delhi High Court ruled that the scope of review under Article 227 is extremely narrow and cannot be invoked when interrogatories and discoveries allowed by the tribunal have a…
The CBIC has introduced Rule 47A to the CGST Rules, setting a 30-day time limit for issuing tax invoices under the Reverse Charge Mechanism RCM . Effective November 1, 2024, this…
The CBIC has notified the insertion of Section 74A in the CGST Act, effective November 1, 2024. This new section addresses the recovery of tax not paid or short paid due to fraud…
The CBIC has reduced the pre-deposit requirement for filing GST appeals, effective November 1, 2024. The amendment, introduced through Notification No. 20/2024 – Central Tax,…
The CBIC has introduced Rule 164 for the waiver of interest and penalties in GST proceedings, effective November 1, 2024. This new rule, issued through Notification No. 20/2024 –…
The CBIC has set a deadline for filing FORM GSTR-7, which is used by registered persons to deduct tax at source TDS under Section 51 of the CGST Act. Starting November 1, 2024,…
The CBIC has updated FORM GSTR-9, replacing Input Tax Credit ITC details derived from GSTR-2A with those from GSTR-2B, effective November 1, 2024. This amendment, issued through…
The Central Board of Indirect Taxes and Customs CBIC has introduced new GST forms for the cancellation and suspension of GST registration through the Central Goods and Services…
The Madras High Court addressed a habeas corpus petition concerning the arrest of workers protesting against Samsung. The court noted that the arrests were made without following…
The Allahabad High Court ruled that the police are not authorized to investigate offenses under the Pre-Conception and Pre-Natal Diagnostic Techniques PCPNDT Act. The court noted…
Wealthtech startup Jar has ventured into the ecommerce space with its D2C jewellery brand, Nek. Launched in February 2024, Nek focuses on gold jewellery, leveraging Jar’s existing…
Zee Media has invested INR 3.75 Cr in the dating platform Flutrr. This strategic investment aims to enhance Zee Media’s digital portfolio and tap into the growing online dating…
Amazon-backed fintech startup ToneTag is in talks to raise $50 Mn to fuel its growth and expansion plans. ToneTag, which specializes in sound-based contactless payment solutions,…
Data engineering startup Datazip has secured funding from Equirus InnovateX Fund. The investment will be used to enhance Datazip’s technology platform and expand its market reach.…
AI-based robotics startup Haber has raised INR 317 Cr to support its growth and expansion plans. The funding will be used to enhance Haber’s AI and robotics technology and expand…
Ola Electric’s shares dropped by 6% amid rising scrutiny over customer complaints. The company has faced increasing criticism regarding the quality and performance of its electric…
Delhivery has expanded its Employee Stock Option Plan ESOP pool with the allotment of 8.6 lakh equity shares. The move aims to attract and retain top talent by offering employees…
Blinkit is set to launch a café for quick snack deliveries, expanding its service offerings beyond grocery deliveries. The café will focus on providing a variety of snacks and…
Bernstein and Quants have downgraded Indian stocks, predicting further upside for Chinese markets. The downgrade is based on concerns over high valuations and potential economic…
Hitachi’s Q1 growth has been driven by a strong order flow and rich valuation, particularly in the renewable energy sector. The company’s Japanese parentage and focus on renewable…
The demand for Indian bonds has outstripped supply, leading to a growing chorus of “buy India bonds.” Investors are attracted to Indian bonds due to favorable interest rates,…
The Maharashtra Real Estate Regulatory Authority MahaRERA has flagged 314 housing projects undergoing insolvency proceedings, cautioning homebuyers against purchasing properties…
eBikeGo’s unit has acquired a 40% stake in Varcas Automobiles, a move aimed at strengthening its position in the electric vehicle EV market. The acquisition is expected to enhance…
Over 750 homebuyers protested at Jantar Mantar, New Delhi, against Supertech Limited for delaying their homes. The protest, organized by buyers of Supertech projects, addressed…
The Reserve Bank of India RBI has issued new guidelines for banks, NBFCs, and regulated entities to enhance their risk assessment for money laundering, terrorist financing, and…
The Reserve Bank of India RBI has asked asset reconstruction firms ARCs to standardize their credit bureau reporting practices. This directive aims to ensure consistency and…
The Reserve Bank of India RBI has directed asset reconstruction companies ARCs to become members of all credit information companies CICs . This move aims to enhance the…
Andhra Pradesh has attracted investments worth INR 60,000 crore, according to claims by the Telugu Desam Party TDP . The investments span various sectors, including…
The government of Andhra Pradesh has accelerated construction plans for PSU projects in Amaravati following the recent elections. The focus is on expediting the development of key…
MSME lender U GRO Capital has crossed INR 10,000 crore in assets under management AUM in Q2 FY25. The milestone reflects the company’s strong growth trajectory and its commitment…
HSBC is planning to cut jobs among its top bankers as part of a cost-saving plan. The move is aimed at reducing expenses and improving operational efficiency. HSBC’s decision…
Purchases of term insurance among Indian millennials and self-employed individuals have surged by 50%, driven by tailored plans and the growing gig economy. The rise of young…
JM Financial has initiated coverage on two general insurance stocks, indicating an upside potential of up to 32%. The brokerage firm has given a buy rating to these stocks,…
The National Financial Reporting Authority NFRA has imposed a Rs 2 crore penalty on an audit firm and debarred two auditors for lapses in the audit of Coffee Day Global Ltd. The…
Equity mutual funds in India saw a 10% decline in inflows to Rs 34,419 crore in September, marking the lowest level since April. The decline was primarily due to a sharp slump in…
The Andhra Pradesh High Court ruled that an Assessing Officer AO cannot refer an assessee’s file to the Joint Commissioner JC for levying a penalty under Section 271D of the…
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