The National Company Law Tribunal NCLT in Kolkata has clarified that interest claims in insolvency cases must be based on the terms of the contractual agreement between parties…
03/09/20241 min read
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The National Company Law Tribunal NCLT in Kolkata has clarified that interest claims in insolvency cases must be based on the terms of the contractual agreement between parties…
The West Bengal government has introduced an Anti-Rape Bill in the state assembly, proposing stricter penalties for those convicted of rape, including the death penalty. The bill…
NALSAR University of Law, Hyderabad, has announced a remarkable achievement of 100% placement for its 2024 graduating batch. This success highlights the university’s strong…
The Securities and Exchange Board of India SEBI has proposed a new mandatory facility akin to the Application Supported by Blocked Amount ASBA mechanism for qualified stock…
The National Company Law Appellate Tribunal NCLAT Principal Bench ruled that Section 12A applications, which allow for withdrawal of insolvency proceedings, cannot be entertained…
The Ernakulam District Consumer Commission ruled that an insurance company’s reliance on a policy clause without providing substantial evidence to support their decision…
The Ernakulam District Consumer Commission has ruled that a consumer complaint remains valid even if the primary issue is with the service provider, irrespective of the…
The Adjudicating Officer in Rajasthan has ordered compensation for a complainant who suffered financial loss and a loss of opportunity. The officer directed the responsible party…
The National Consumer Disputes Redressal Commission NCDRC has ruled that the failure to transfer shares by a company or its agent constitutes a deficiency in service. The case…
The Ernakulam District Consumer Disputes Redressal Commission has ruled that charging more than the Maximum Retail Price MRP constitutes a deficiency in service. The case involved…
The Ernakulam District Consumer Disputes Redressal Commission has held Union Bank liable for deficiency in service for failing to ensure the security of pledged customer assets.…
The National Consumer Disputes Redressal Commission NCDRC has ruled that a refund offered by a builder after a significant delay is inadequate compensation for the inconvenience…
The National Consumer Disputes Redressal Commission NCDRC has ruled that builders are legally obligated to deliver a completed unit along with the conveyance deed to the buyer.…
The Income Tax Appellate Tribunal ITAT has reversed an addition to a taxpayer's income that was made solely based on a statement recorded during a survey under Section 133A of the…
The Goods and Services Tax Network GSTN has launched a new Invoice Management System IMS feature on the GST portal, effective from October 1st, 2024. This new feature is designed…
The Income Tax Appellate Tribunal ITAT has ruled that torn papers or documents are not sufficient evidence to prove unreported sales. The tribunal ordered the re-adjudication of a…
Vodafone Idea VI has been hit with a Rs. 73 crore GST demand from multiple GST offices, relating to various periods of tax assessments. The notices were issued after discrepancies…
The Tamil Nadu GST Department has issued new guidelines for adjudication under the GST Act. These guidelines aim to standardize the adjudication process, ensuring consistency and…
The Delhi High Court has directed a company to apply for a refund after it was found that its directors were coerced by a GST officer into depositing Rs. 22 lakh from their…
The Delhi High Court has ruled that irregularities in the issuance of an audit memo do not invalidate a Show Cause Notice SCN under the GST law. The case involved a taxpayer…
The Bombay High Court has ruled that both the jurisdictional Assessing Officer AO and the Faceless AO cannot simultaneously exercise jurisdiction to issue a notice under Section…
The GST return filing process has undergone several changes in September, including modifications to Table B2CL, which deals with sales to unregistered persons. Additionally,…
The Income Tax Appellate Tribunal ITAT has directed the Assessing Officer AO to reassess the exclusion of interest earned on fixed deposits under Section 80P 2 d of the Income Tax…
The Income Tax Appellate Tribunal ITAT has ruled that the cess collected under the Building and Other Construction Workers BOCW Act constitutes taxable income and is not to be…
The Delhi High Court has ruled that the determination of gross tax liability under Section 53 by the Commissioner of Income Tax Appeals CIT A is final and cannot be revised. The…
The Delhi High Court has set aside the cancellation of a GST registration, ruling that the Show Cause Notice SCN issued to the taxpayer failed to provide specific details…
The Central Board of Direct Taxes CBDT has formed a review committee to examine and suggest amendments to the Income Tax Act. This move is part of the government's initiative to…
The Institute of Chartered Accountants of India ICAI has launched a Minimum Recommended Professional Fee Calculator aimed at helping Chartered Accountants CAs and CA firms…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT has upheld a service tax demand of Rs. 2 crore against a stem cell umbilical cord blood bank. The tribunal ruled…
The GST Network GSTN has introduced a new Invoice Management System IMS to facilitate easy corrections of invoices on the GST portal. The IMS will enable businesses to correct…
The Goods and Services Tax Network GSTN has updated the interface for amending bank account details in the GST portal. This update pertains to non-core fields, meaning changes…
Vodafone Idea Ltd. VIL has been served with nine Goods and Services Tax GST notices demanding a total of Rs. 73 crore from multiple GST offices. These notices are related to the…
The Rajasthan High Court has elucidated the components of the offence of illegal gratification under Section 7 of the Prevention of Corruption Act. The Court's detailed…
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The Indian government has received a dividend of Rs 2,413 crore from Bharat Petroleum Corporation Limited BPCL , contributing to a total of Rs 15,389 crore in dividends for the…
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The Indian government plans to develop 12 new industrial smart cities aimed at boosting MSMEs and creating employment opportunities. These smart cities will feature advanced…
The Chief of the State Bank of India SBI has announced that banks are now more comfortable lending to MSMEs, reflecting a positive shift in the financial landscape for small…
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Dr. Michael Patra, Deputy Governor of the Reserve Bank of India RBI , addressed the role of infrastructure and micro, small, and medium enterprises MSMEs in India’s economic…
Bajaj Housing Finance is aiming for a $7 billion valuation through its upcoming IPO. The company, a leading player in India's housing finance sector, plans to use the funds raised…
A recent report projects that India will boast 150 fintech unicorns with a cumulative valuation of $500 billion by 2030. This growth is driven by increasing digital financial…
The Insurance Regulatory and Development Authority of India IRDAI has raised concerns about the widespread misselling of life insurance policies. The issue involves agents…
This live update provides real-time information on the BSE Sensex and Nifty indices, offering insights into the stock market's performance. The updates include details on market…
The National Company Law Tribunal NCLT in Kolkata has clarified that interest claims in insolvency cases must be based on the terms of the contractual agreement between parties…
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