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Tracxn, a data and research platform, has announced an expansion of its Employee Stock Ownership Plan ESOP pool, adding 2.42 lakh stock options. This move aims to enhance employee…
The Delhi High Court questioned the maintainability of a plea seeking a CBI investigation into alleged corruption involving electoral bonds and political donations. The court…
Supreme Court Summarizes Principles for Interpreting Tax Statutes The Supreme Court, in a landmark ruling, summarized key principles for interpreting tax statutes, especially…
The GST Authority for Advance Rulings AAR has ruled that an 18% GST will be levied on catering services when provided along with renting of premises, if the total charge exceeds…
Finance Minister Nirmala Sitharaman addressed growing concerns about income tax refund delays, calling on the Income Tax Department via social media platform X to resolve…
The ITAT has allowed an appeal for a belated return filed under Section 139 4 of the Income Tax Act, satisfying the conditions outlined in Section 201 1 of the Act. This decision…
The ITAT has dismissed the Assessing Officer's appeal regarding a ?3.4 crore addition under Section 69A due to lack of evidence. The tribunal's decision underscores the importance…
The ITAT has upheld the claim for depreciation on self-funded assets of the Delhi Airport Metro Express, affirming the validity of depreciation deductions for the metro operator.…
The Patna High Court ruled that a pending income tax demand cannot be used to summarily dismiss an application for TDS relief under Section 197 of the Income Tax Act. The court…
The Delhi High Court quashed the cancellation of a taxpayer's GST registration under Section 29 of the CGST Act, stating that non-payment of dues for three months is not a valid…
The Delhi High Court ruled that the mere pendency of a criminal case should not disqualify an individual from availing long-term opportunities abroad, particularly if the case has…
In Ghaziabad, a GST officer has filed a complaint against a Uttar Pradesh trader for conducting a strip protest. This incident raises questions about the accountability and…
The Authority for Advance Ruling AAR has ruled that a baby carrier with a hip seat attracts 5% GST on sales priced below ?1,000 per piece and 12% GST on sales priced above ?1,000.…
The Punjab and Haryana High Court has upheld the ITAT's order granting Section 12A registration to a vocational training institute. This registration allows the institute to be…
The Income Tax Appellate Tribunal ITAT has ordered the Assessing Officer to consider bank withdrawals when reassessing unexplained cash deposits amounting to ?3.13 crore. This…
The Madhya Pradesh High Court has directed a counsel and applicant to spend time at a mercy home due to the dismissal of an income tax appeal stemming from a mistake made by the…
The Himachal Pradesh High Court ruled that recovery officers under Section 226 3 of the Income Tax Act do not have the authority to attach a taxpayer’s overdraft OD account with…
The Institute of Chartered Accountants of India ICAI revealed that nearly 601 chartered accountants are currently under investigation for professional misconduct. The ICAI…
The Delhi High Court expressed concern over the illegal sale of liquor in violation of the Delhi Excise Act. The court stated that such activities pose a serious threat to public…
The Chhattisgarh High Court has ruled that unexplained cash credit in a bank account must be treated as income if satisfactory explanations are not provided. This decision…
In response to claims of a “toilet tax” in Himachal Pradesh, Chief Minister Sukhu has denied any such taxation policy. He clarified that the government has no plans to impose any…
The National Company Law Tribunal NCLT has ruled that insolvency petitions under Section 95 of the Insolvency and Bankruptcy Code IBC are not maintainable against partnership…
The Jammu and Kashmir High Court has ruled that the limitation period for seeking a GST refund is to be determined from the date of the original application, not from any…
The Kerala High Court has ruled that interest earned on short-term funds infused by the government, kept in a bank until utilization, constitutes a capital receipt. The ruling has…
The CESTAT ruled that a mere omission in a customs declaration does not amount to misdeclaration and, thus, does not warrant a penalty under the Customs Act. The tribunal…
The ITAT remanded a revision order back for re-examination concerning a company's claim under Section 56 2 viib of the Income Tax Act. The case involved whether the company…
The GSTN has issued an advisory on properly entering RR numbers and parcel waybills into the EWB system following the integration of the EWB and PMS systems. This advisory is…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has remanded a case related to the imposition of service tax on non-employed directors. The tribunal directed the…
In a ruling by the Authority for Advance Rulings AAR , it was decided that apartment owners' associations are not liable to pay GST on contributions from members if the amount is…
A businessman staged a semi-naked protest at a Ghaziabad GST office, alleging bribery and harassment by tax officials. The protester accused the officials of demanding bribes to…
Finance Minister Nirmala Sitharaman has called on the Income Tax Department to expedite pending tax refunds. Many taxpayers have lodged complaints regarding delays in receiving…
SpiceJet has settled four months of pending salaries for its employees and cleared its GST dues. The airline also deposited ten months’ worth of provident fund PF contributions.…
A Tax Commissioner in India conducted a surprise inspection of traders suspected of GST evasion. The inspection is part of an intensified effort by the authorities to curb tax…
The GST Network GSTN has issued an advisory mandating biometric Aadhaar authentication for GST applicants in Kerala, Nagaland, and Telangana. This new measure is aimed at curbing…
The Maharashtra government has abolished the Non-Agricultural NA tax on housing, commercial, and industrial properties. This tax had been a long-standing burden for property…
Zouk, a D2C fashion brand, is in discussions to secure $10 million in funding led by Aavishkaar Capital. This comes after an 18-month gap since its last funding round. Founded in…
The Local Self-Government LSG department has established a committee aimed at simplifying and streamlining tax collections in urban areas. The goal is to improve efficiency in tax…
The Rajasthan High Court ruled that insults or intimidation under the SC/ST Act must occur in public places to warrant legal action. The court set aside a "mechanical" cognizance…
The National Lok Adalat in Telangana has been conducting settlements across various disputes, promoting alternative dispute resolution methods. This initiative aims to alleviate…
The Supreme Court has addressed the ambiguity in tax law interpretation in the case of Safari Retreats, discussing the difference between advantageous ambiguity and…
The Allahabad High Court has ruled in favor of Larsen & Toubro LT , allowing the company to resume sales of apartments in the Green Reserve project in Noida. The court found that…
The Madhya Pradesh High Court ruled that objections to the jurisdiction of an arbitrator raised under Section 34 of the Arbitration Act should be limited to questions of…
CBIC has issued a crucial instruction concerning officer mapping and de-mapping on the GSTN portal. This directive aims to streamline the process of officer assignments in the…
The combined market capitalization of nine out of India’s top ten most valuable companies eroded by Rs 4.74 trillion in a single trading session. Major companies like Reliance…
Tata Digital’s foray into financial services has paid off, as its credit card offerings have now exceeded 1.5 million in circulation. This growth is driven by Tata’s strong…
Foreign Portfolio Investors FPIs withdrew over INR 27,000 crores from Indian equities in just three trading sessions due to escalating geopolitical tensions. The significant…
Private sector capital expenditure capex in India is likely to increase, driven by rising business confidence, according to a report by the Confederation of Indian Industry CII .…
GST payments in Punjab and Uttarakhand can now be made through UPI and cards, expanding digital payment options for taxpayers. Canara Bank has been added as a new payment gateway…
CG Power has entered an agreement to acquire the Radio Frequency RF components business of Renesas Electronics for $36 million. The acquisition is aimed at bolstering CG Power’s…
REC Ltd has disbursed loans exceeding INR 90,000 crores in the first half of FY25, reflecting its role in funding critical infrastructure projects across India. The loans…
Tracxn, a data and research platform, has announced an expansion of its Employee Stock Ownership Plan ESOP pool, adding 2.42 lakh stock options. This move aims to enhance employee…
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