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In a setback to Nayara Energy, the Income Tax Appellate Tribunal ITAT upheld the disallowance of ₹2,513 crore in losses related to inter-corporate deposits. ITAT found the…
In India, inherited property is not considered taxable under the Income Tax Act, as it is not treated as income. However, any future income earned from such property, like rent or…
The Madras High Court criticized the harshness of cancelling GST registrations, calling it akin to "capital punishment" for small traders. The court recommended adopting a more…
The Central Board of Direct Taxes CBDT released a Standard Operating Procedure SOP detailing how to address internal audit objections raised during assessments. The SOP mandates…
The Madras High Court ruled on the jurisdictional authority under the Micro, Small, and Medium Enterprises Development MSMED Act. The case involved a dispute where a supplier not…
SEBI issued a circular announcing the implementation of T+2 day trading for bonus shares, starting October 1. This change allows bonus shares to be available for trading within…
The Supreme Court dismissed a special leave petition filed by the Income Tax Department, affirming that payments received for providing access to computer software by member firms…
In a setback to Nayara Energy, the Income Tax Appellate Tribunal ITAT upheld the disallowance of ₹2,513 crore in losses related to inter-corporate deposits. ITAT found the…
The Madras High Court ruled in favor of a petitioner seeking exemption from Countervailing Duty CVD on silk fabric imports from China under Section 149 of the Customs Act. The…
Finance Minister Nirmala Sitharaman confirmed that there will be no reduction in tax rates for the old tax regime, despite requests from various stakeholders. The decision…
India's banking liquidity is expected to tighten due to significant outflows linked to advance tax payments and GST collections. This comes at a crucial time, as businesses settle…
The Supreme Court rejected the West Bengal government’s plea to halt the live streaming of the RG Kar Hospital case, deciding instead to implement measures to protect lawyers from…
The Karnataka High Court condoned a delay of 2 hours and 38 minutes in filing an Income Tax Return ITR , citing genuine hardship as the reason. The court quashed the order issued…
The Supreme Court issued a notice in response to a plea challenging the Karnataka government’s withdrawal of consent for a CBI probe into allegations against DK Shivakumar. The…
The Supreme Court expressed concerns regarding the lengthy cross-examination of the victim by Dileep, an influential accused in a sexual assault case involving an actress. The…
The Supreme Court issued a notice regarding the bail plea of Amandeep Singh Dhall in connection with the Delhi liquor policy case. The Court’s decision to review the bail plea…
GST evasion in India has surged to Rs 2.01 lakh crore in FY24, with Mumbai emerging as the leading city for evasion detection. The increase is attributed to enhanced monitoring…
The ITAT ruled that a taxpayer is entitled to a Section 54F deduction on capital gains, even if the reinvestment is made with a proforma purchaser. The tribunal held that the…
The GST Council has set up a Group of Ministers GoM to assess the taxation rates on health and life insurance premiums. This decision comes amidst industry requests to reduce the…
The Supreme Court expressed surprise over the Debt Recovery Tribunal’s DRT decision to adjourn a case, citing that its officers were occupied with preparing statements for the…
The Supreme Court addressed the Krishna Janmabhoomi dispute, focusing on a plea challenging the Allahabad High Court’s decision to uphold the maintainability of Hindu side suits.…
The Supreme Court reviewed the use of bulldozers to demolish properties of individuals accused of crimes, questioning the legality and appropriateness of such actions. The Court’s…
The Karnataka High Court upheld the conviction of an individual in a counterfeit currency case under Section 489B of the Indian Penal Code. The Court’s decision reinforces the…
The Madras High Court ruled that freezing an entire bank account by the police constitutes a violation of fundamental rights. The Court’s decision emphasizes the need for…
The Kerala High Court addressed the issue of legibility in statements recorded under Section 164 of the Criminal Procedure Code CrPC . This section pertains to confessions made…
In this case, the Kerala High Court examined whether entry tax imposed at check-posts on the transport of eggs from other states is lawful. The entry tax is a charge levied on…
The Madras High Court criticized the harshness of cancelling GST registrations, calling it akin to "capital punishment" for small traders. The court recommended adopting a more…
The Madras High Court ruled in favor of a petitioner seeking exemption from Countervailing Duty CVD on silk fabric imports from China under Section 149 of the Customs Act. The…
The Rajasthan High Court addressed the issue of grant-in-aid reduction for non-government educational institutions under the Rajasthan Non-Government Educational Institutions Act.…
The Madras High Court ruled that deemed assessment orders under Section 22 4 of the Tamil Nadu VAT Act can be issued if no returns are filed. The court emphasized that such orders…
Finance Minister Nirmala Sitharaman confirmed that there will be no reduction in tax rates for the old tax regime, despite requests from various stakeholders. The decision…
India's banking liquidity is expected to tighten due to significant outflows linked to advance tax payments and GST collections. This comes at a crucial time, as businesses settle…
The GST Council has set up a Group of Ministers GoM to assess the taxation rates on health and life insurance premiums. This decision comes amidst industry requests to reduce the…
GST evasion in India has surged to Rs 2.01 lakh crore in FY24, with Mumbai emerging as the leading city for evasion detection. The increase is attributed to enhanced monitoring…
The Madhya Pradesh High Court granted interim protection to a Zambian citizen facing a deportation order due to issues with their child’s passport. The court’s order prevents…
The Gauhati High Court heard a Public Interest Litigation PIL concerning child protection policies implemented by the Assam government. The case focused on the effectiveness and…
The Karnataka High Court granted bail to an accused in the high-profile Gauri Lankesh murder case. This decision indicates that the evidence against the accused may not be strong…
The Karnataka High Court refused to quash a cheating case against former MLA Lingesh K.S. The case involves allegations of fraud and deceit, and the court’s decision to not quash…
The Madhya Pradesh High Court addressed the authority of a sub-divisional officer under the Senior Citizens Act. The court’s ruling clarified the scope of the officer’s powers and…
The Allahabad High Court ruled that a Hindu marriage cannot be terminated like a contract. This decision reinforces the view that marriage under Hindu law is a sacred bond rather…
The Supreme Court refused to entertain Public Interest Litigations PILs challenging new criminal laws. The court's decision indicates that it found the PILs to be without merit or…
The Madras High Court dealt with a case where PMLA accused were not produced before a magistrate within 24 hours. The court found that this did not constitute a violation,…
The Delhi High Court refused to quash an FIR involving a woman and a ₹25 lakh Audi car against her ex-partner. The court’s decision implies that there is sufficient basis for the…
The Madhya Pradesh High Court ordered the Director General of Police DGP to establish a serious crimes investigation supervision team in every district. This order aims to enhance…
The Madras High Court addressed the rampant use of banned Cool Lip tobacco products among school students. The court’s intervention highlights concerns about the public health…
Bajaj Housing Finance saw a 10% surge in its stock price, hitting the upper circuit limit following a strong market debut. This performance reflects positive investor sentiment…
As central banks across the globe, including the U.S. Federal Reserve, potentially embark on rate-cut cycles, foreign institutional investors FIIs traditionally increase their…
Apple's dominance in the Indian smartphone market has grown significantly, surpassing Samsung in terms of revenue. This shift is attributed to Apple's strategic pricing and an…
The live updates on the BSE Sensex and Nifty indices for September 17, 2024, capture the ongoing movements and trends in the Indian stock market. As the trading day progresses,…
The article discusses the anticipated 25 basis point rate cut by the US Federal Reserve and its potential effects on global and Indian markets. A reduction in US interest rates is…
In a setback to Nayara Energy, the Income Tax Appellate Tribunal ITAT upheld the disallowance of ₹2,513 crore in losses related to inter-corporate deposits. ITAT found the…
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