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Mankind Pharma has received approval from the Competition Commission of India CCI for a Rs 13,630 crore deal to acquire Bharat Serums & Vaccines. The acquisition is considered a…
The Uttar Pradesh Real Estate Regulatory Authority UP RERA passed five crucial orders to safeguard the interests of homebuyers. These orders were aimed at ensuring compliance from…
Indian startup funding reached $3.4 billion in Q3 2024, marking a significant year-over-year growth. The ecosystem saw increased investment activity, particularly in early-stage…
The Kerala High Court dismissed petitions filed by Alapatt Jewellers, ruling that depreciation cannot be set off against income from any other sources. The jeweler sought to…
In a case involving ?54.52 lakh in unexplained income from sugar sales, the ITAT ordered a fresh assessment under Section 69 of the Income Tax Act. The Tribunal found…
The ITAT dismissed an appeal concerning unexplained cash deposits, noting that the evidence provided was insufficient to justify the large sums of money in question. The appellant…
An industrialist accused employees of the GST department of selling sensitive sales and purchase data to competitors, prompting an investigation. The businessman alleged that the…
The AAR ruled that plastic rope handle vent plugs, split tops, and bottom supports attract 28% GST. The ruling involved a dispute over the classification of these items and their…
The Delhi High Court ruled that the cancellation of GST registration does not absolve a taxpayer from their existing tax liabilities or penalties. The court emphasized that the…
The Andhra Pradesh High Court ruled that attachment orders and garnishee notices are impermissible once an appeal has been filed against an assessment order under the CGST Act.…
The Delhi High Court ruled that assessment orders issued in the name of a non-existent entity cannot be rectified under Section 292B of the Income Tax Act. The case involved a…
The AAAR ruled that company-leased cars provided to employees do not constitute a perquisite liable to GST. This decision addressed whether the supply of leased cars could be…
The ITAT quashed reassessment proceedings initiated against a Buddhist monk, ruling that notices uploaded solely on the Income Tax portal do not constitute valid service of…
In a significant ruling, the Customs, Excise and Service Tax Appellate Tribunal CESTAT allowed Pidilite Industries to retain CENVAT credit, ruling that trading activities were not…
The Kerala GST Department issued a circular on the 2024 GST Amnesty Scheme, significantly reducing the waiver benefit. The original scheme, designed to offer relief by reducing…
The Income Tax Appellate Tribunal ITAT remanded a case for fresh consideration after finding that an appeal was wrongly dismissed due to the alleged non-payment of advance tax.…
The Income Tax Appellate Tribunal ITAT remanded a case for fresh consideration where Form 10B, required for claiming exemptions under Section 11, was not submitted due to a…
The Delhi High Court invalidated a show cause notice SCN issued to a deceased taxpayer, citing the department's failure to notify the legal representative under Section 93 of the…
CESTAT provided relief to Steel Authority of India Limited SAIL by ruling that service tax is not payable on amounts paid for the supply of water by the Odisha government. The…
The Delhi High Court quashed the blocking of the electronic credit ledger under Rule 86A of the CGST Rules, where the blocked amount exceeded the available Input Tax Credit ITC .…
The Delhi High Court quashed an income tax notice that was issued 3–4 years post-assessment without proper approval under Section 151 of the Income Tax Act. The court ruled that…
The Ministry of Corporate Affairs MCA has notified amendments to Ind AS 117, concerning insurance contracts. The amendments aim to align the Indian Accounting Standards with the…
The article offers a detailed guide on drafting replies to GST notices concerning the simultaneous availment of GST Input Tax Credit ITC and depreciation on capital goods. It…
ITAT quashed a demand order issued under Section 153D of the Income Tax Act, citing a lack of proper approval from the Additional CIT. In this case, the assessment was approved…
The ITAT ruled that foreign tax credit FTC paid on income from a foreign assignment should be excluded from income recomputation. The case involved a taxpayer who earned salary…
CESTAT reversed a previous denial of ?3.23 crore in CENVAT credit on input services used for commercial property rentals. The Tribunal ruled that input services related to the…
The CESTAT ruled that no service tax is applicable on fees collected by the Gujarat Industrial Development Corporation GIDC for infrastructure upgradation, subletting, and other…
CESTAT set aside penalties imposed under Sections 77 and 78 of the Finance Act after the taxpayer voluntarily paid the service tax before the issuance of a show cause notice. The…
The CESTAT lowered the penalty imposed on customs brokers and intermediaries for their negligence in facilitating the smuggling of prohibited red sanders logs. While acknowledging…
The Central Board of Direct Taxes CBDT has issued detailed procedures under the Vivad Se Vishwas scheme to help taxpayers settle pending direct tax disputes. The rules cover the…
The Income Tax Appellate Tribunal ITAT quashed a revision order issued under Section 263 of the Income Tax Act, stating that there was no error or prejudice to the revenue. The…
An Authority for Advance Rulings AAR decision has ruled that leasing, renting, and hiring motor vehicles to transport women employees during night shifts is eligible for Input Tax…
The Directorate General of Foreign Trade DGFT has revised the policy conditions for the export of halal meat and meat products. This revision includes updated guidelines to comply…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT ruled that the marketing margin on the sale of natural gas is subject to Value Added Tax VAT and not Service Tax.…
The GST Appellate Tribunal GSTAT has taken over adjudication of anti-profiteering cases, and no new cases will be accepted starting from FY 2026. The transition to the tribunal is…
The CESTAT ruled that sitting fees paid to non-employed directors do not constitute salary and are, therefore, liable to service tax. The issue revolved around whether such fees…
The Delhi High Court was informed by Solicitor General Tushar Mehta that climate activist Sonam Wangchuk and his associates from Ladakh had been released and set free after their…
Justice IP Mukherji, of the Calcutta High Court, expressed optimism that his move as Chief Justice of the Meghalaya High Court would bring about long-expected changes in the…
The Reserve Bank of India RBI announced that 98% of ?2,000 notes have been returned following the central bank's withdrawal order. The decision to withdraw the notes was part of…
The Himachal Pradesh High Court ruled that no GST is payable on the free electricity provided by the National Hydroelectric Power Corporation NHPC to the Himachal Pradesh…
In another significant insurance ruling, the NCDRC held that ambiguous terms in insurance contracts must be interpreted in favor of the policyholder. The Commission stated that…
The Reserve Bank of India RBI has identified irregular practices in the gold loan sector and has urged lenders to review their policies. The RBI's scrutiny aims to ensure that…
According to a recent report by CRISIL, gross non-performing assets GNPAs in the banking sector are projected to improve to a decadal low in FY25. The report indicates a…
The Air India Group has achieved full integration between Air India Express and AIX Connect, marking a significant milestone in its operational efficiency. This integration is…
The Gujarat High Court expressed frustration over the Rajkot Municipal Commissioner’s handling of a "Game Zone" operated by TRP. The court criticized the lack of transparency and…
The Madhya Pradesh High Court ruled on a case involving the removal of a sarpanch village head for alleged misconduct under the Madhya Pradesh Panchayat Raj and Gram Swaraj…
A plea was filed in the Delhi High Court seeking the release of climate activist Sonam Wangchuk and others detained during protests at the Singhu border. The petitioners argued…
The Delhi High Court dismissed a woman's anticipatory bail plea, emphasizing the gravity of the charges against her. The case pertained to allegations of cheating and criminal…
CESTAT confirmed that DLP projectors used primarily for data projection are exempt from taxes. The ruling followed a dispute over whether such devices should be classified as…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has ruled that traders are entitled to an exemption under Notification No. 102/2007-Cus without the need for…
Mankind Pharma has received approval from the Competition Commission of India CCI for a Rs 13,630 crore deal to acquire Bharat Serums & Vaccines. The acquisition is considered a…
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