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ICAI, State GST Dept, Rajasthan Tax Bar Resolves Bribery Allegation Post Controversy by CA The Institute of Chartered Accountants of India ICAI , the State GST Department, and the…
Swiggy has received approval from the Securities and Exchange Board of India SEBI to launch its initial public offering IPO . The food delivery giant is set to make its stock…
A PSU civil construction company has secured a new order worth Rs 1261 crore from the Government of India, adding to its robust order book of Rs 81,000 crore. The company has also…
The National Company Law Appellate Tribunal NCLAT upheld a resolution plan that proposed nil payment to operational creditors. The resolution plan, approved by the Committee of…
The Delhi High Court denied bail to Christian Michel, an alleged middleman in the AgustaWestland VVIP chopper scam. The court cited the seriousness of the allegations and the…
The CESTAT ruled that car parking fees levied by a shopping mall are not liable to service tax. The mall had been charging parking fees and was subsequently issued a demand for…
The CESTAT ruled that cash refunds of accumulated CENVAT credit are allowable even after the abolishment of the education cess. The appellant had claimed a refund of accumulated…
The CESTAT quashed an Rs. 85.9 lakh service tax demand against Tata Power, ruling that the absence of a consignment note exempts the service from being classified as Goods…
Wipro Ltd has acquired certain businesses of Yardley, a 240-year-old British premium personal care brand, from the UK’s Lornamead Group for $45.5 million. This acquisition is part…
Indian startup funding has declined by 7% to $7.6 billion in the first nine months of 2024, compared to the same period last year. The dip in funding is attributed to a cautious…
The live blog on the Economic Times provides real-time updates on the performance of the BSE Sensex and Nifty indices on 24 September 2024. The blog covers key market movements,…
The Income Tax Appellate Tribunal ITAT quashed a reassessment order concerning cash deposits, citing the Assessing Officer’s AO vague reasoning and lack of application of mind.…
Finance Minister Nirmala Sitharaman addressed the controversy surrounding her remarks on the death of an EY employee, clarifying that her comments were not intended to shame the…
The CESTAT ruled in favor of Marico Ltd, allowing them to avail CENVAT credit for invoices issued before the implementation of Notification No. 21/2014-CE NT . The tribunal found…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has sent a case back for re-examination due to the failure of the appellant to establish service tax exemption under…
The ITAT ruled that mere submission of documents is insufficient under Section 263, and that proper inquiry and verification by the Assessing Officer AO are essential for a valid…
The Securities and Exchange Board of India SEBI has launched an investigation into more than 12 domestic merchant banks over concerns regarding their due diligence processes for…
The Supreme Court has listed 291 cases where the tax effect involved is less than Rs. 5 crore, in line with its focus on de-clogging the judicial system of smaller tax disputes.…
The Madras High Court criticized the Income Tax Department over repeated delays in filing counter-affidavits in response to petitions. The case under scrutiny involved a…
The CESTAT set aside a time-barred demand for service tax on SEZ security services. The case involved a demand for service tax on security services provided to Special Economic…
The Delhi High Court ruled that a defendant cannot compel a plaintiff to summon and examine his chartered accountant in a civil matter. The case involved a dispute where the…
The CESTAT ordered a revised duty assessment for customs duty evasion using fake invoices for imported goods. The case involved allegations of customs duty evasion through the use…
The Income Tax Appellate Tribunal ITAT ruled that Form 67 is deemed directory, not mandatory, and that Foreign Tax Credit FTC claims should not be denied for late submission. The…
The Gujarat High Court criticized the GST authority for failing to comply with two-year-old guidelines for canceling GST registration. The court found that the GST authority did…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT granted relief to Ford India Pvt Ltd by ruling that air compressors used for car air-conditioning equipment are…
The Authority for Advance Rulings AAR has ruled that a 5% GST is applicable to specific essential inputs such as equipment, materials, and tools used in ship manufacturing. This…
The Central Board of Indirect Taxes and Customs CBIC has issued a circular clarifying the classification of laboratory chemicals in light of Notification No. 62/2024. This…
The ITAT condoned a 133-day delay in filing an appeal by Apollo Education Trust, emphasizing that substantial justice should prevail over technicalities. The trust had delayed…
The Delhi High Court ruled that applications under Section 12 of the Domestic Violence Act must be filed before the jurisdictional magistrate and cannot be transferred to Family…
The Kerala High Court reserved its order on an application by the survivor in the actress assault case, seeking a fact-finding inquiry report. The case involves allegations of…
The Orissa High Court issued a standing order instructing lawyers to refrain from pleading laws and quoting case precedents in counter affidavits. This order follows a Supreme…
Zoho has launched two new offerings: Vikra, a seller app for the Open Network for Digital Commerce ONDC , and Zoho IoT, a low-code platform for building and deploying custom IoT…
The Telangana High Court has ruled that the GST Appellate Authority has the legal competency to adjudicate jurisdictional disputes involving GST orders. This verdict comes in…
A Group of Ministers GoM convened to discuss the possibility of merging the 12% and 18% GST tax slabs into a single rate. This change could simplify the GST structure, addressing…
Tata Sons obtained significant tax relief after the Delhi High Court dismissed a ₹1500 crore GST demand tied to its settlement with NTT DoCoMo. The dispute revolved around whether…
The National Stock Exchange NSE has reportedly doubled its valuation amid hopes of an upcoming IPO. The exchange’s value has surged due to strong financial performance and…
The Delaware Supreme Court has ruled that BYJU’S defaulted on a $1.2 billion term loan B TLB , upholding an earlier decision by the Court of Chancery. This ruling allows US-based…
The Real Estate Regulatory Authority RERA of Karnataka has made public a list of 2403 stalled building projects in the state. This move aims to bring transparency and…
Union Minister Piyush Goyal shared a personal anecdote about not being able to enter his own house in 2010 because the project had not received an Occupancy Certificate OC . He…
Indian startup funding has declined by 7% to $7.6 billion in the first nine months of 2024, compared to the same period last year. The dip in funding is attributed to a cautious…
The National Company Law Appellate Tribunal NCLAT has rejected a ₹6.10 crore tax claim against Reliance Communications. The claim was made post-insolvency proceedings, and the…
Netflix India is under scrutiny from Indian authorities over alleged visa violations, tax evasion, and racial discrimination. The investigation, prompted by complaints from a…
Swiggy has received approval from the Securities and Exchange Board of India SEBI to launch its initial public offering IPO . The food delivery giant is set to make its stock…
M2P Fintech has successfully raised Rs 650 crore in its Series D funding round, bringing its valuation to Rs 6,550 crore. The funding round was led by existing investors, with…
Kaustubh Kulkarni of JPMorgan has expressed optimism about Indian firms entering the primary markets, noting their strong fundamentals and growth prospects. However, he also…
The Burman family, promoters of Dabur, have withdrawn from the race to acquire a 40% stake in Hindustan Coca-Cola Beverages HCCB due to valuation differences. HCCB, the bottling…
S&P Global has retained India’s GDP growth forecast at 6.8% for FY25, citing high interest rates and lower fiscal boost tempering demand in non-agricultural sectors. The rating…
A PSU civil construction company has secured a new order worth Rs 1261 crore from the Government of India, adding to its robust order book of Rs 81,000 crore. The company has also…
The Indian government is considering developing a talent pool for top-level positions at central public sector enterprises CPSEs . This initiative aims to ensure a smooth…
Wipro Ltd has acquired certain businesses of Yardley, a 240-year-old British premium personal care brand, from the UK’s Lornamead Group for $45.5 million. This acquisition is part…
ICAI, State GST Dept, Rajasthan Tax Bar Resolves Bribery Allegation Post Controversy by CA The Institute of Chartered Accountants of India ICAI , the State GST Department, and the…
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