The Delhi High Court has declared an arbitration clause invalid if the contractor cannot select an arbitrator from the designated panel, in this case, the railways panel. The…
29/08/20241 min read
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The Delhi High Court has declared an arbitration clause invalid if the contractor cannot select an arbitrator from the designated panel, in this case, the railways panel. The…
The Bombay High Court has ruled that failure to disclose all material facts fully and truly during the original assessment is critical for invoking jurisdiction under Section 147…
The Bombay High Court upheld the centralization of tax assessments under Section 127 of the Income Tax Act, provided there are sufficient reasons for such transfer orders. This…
The Bombay High Court has quashed reopening proceedings under Section 151A of the Income Tax Act due to non-compliance with mandatory procedures. The court emphasized that the…
The Maharashtra Real Estate Appellate Tribunal MAHAREAT has criticized the Maharashtra Real Estate Regulatory Authority Maharera for its casual approach in handling cases related…
The ITAT ruled that subscription fees from cloud services provided by an Irish company to Indian customers are not taxable as royalty under the India-Ireland Double Taxation…
The ITAT quashed an order issued by the Principal Commissioner of Income Tax PCIT under Section 263 of the Income Tax Act, finding that the PCIT overreached its jurisdiction. The…
The ITAT restored a case to the Assessing Officer AO for fresh adjudication after the assessee failed to provide relevant information during the initial proceedings. The tribunal…
The ICAI reprimanded a Chartered Accountant for circulating defamatory messages against a GST officer in a WhatsApp group. The CA's actions were deemed unprofessional and in…
The article outlines the revised Tax Deducted at Source TDS rates that will be applicable from October 1, 2024, for the financial years 2024-25. It highlights key changes in TDS…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT ruled that a foreign commission is exempt from service tax if there is no contractual relationship between the…
The ITAT granted a Section 80P 2 deduction to the BSNL Employees Co-operative Society, providing relief to the organization. The deduction under Section 80P 2 is available to…
The ITAT directed the Assessing Officer AO to recompute the penalty imposed on a taxpayer for incorrectly claiming a deduction under Section 54EC of the Income Tax Act. The…
The ITAT granted a charitable trust a second opportunity to prove the genuineness of its activities by remanding its registration application back to the Commissioner of Income…
The Delhi High Court ruled that the cancellation of a GST registration does not prevent the tax department from initiating proceedings or recovering tax dues. The case involved a…
The ITAT upheld the Principal Commissioner of Income Tax PCIT order, criticizing the Assessing Officer AO for failing to properly investigate the assessee's claims of agricultural…
The ITAT ruled that the addition of share capital premium to an assessee's income by the Assessing Officer AO is invalid in the absence of incriminating evidence found during a…
The ITAT ruled that a taxpayer is eligible for a deduction under Section 54 of the Income Tax Act even if the proceeds from the sale of an old property are not directly reinvested…
The ITAT ruled that assessment proceedings should be conducted under Section 153C instead of Section 147 when material relevant to an assessee is found on third-party premises.…
The ITAT ruled that no opportunity of hearing is required for a taxpayer when their case is transferred between Assessing Officers AOs within the same city under Section 127 3 of…
The Income Tax Appellate Tribunal ITAT upheld an addition to the taxable income of an assessee for non-filing of evidence regarding income from other sources. The case involved an…
The Institute of Chartered Accountants of India ICAI has reprimanded a Chartered Accountant CA for spreading defamatory messages against a GST officer on WhatsApp. The CA had…
Hindustan Unilever Limited HUL has received a tax notice for ₹962.75 crore related to its acquisition of GlaxoSmithKline's consumer healthcare business. The tax department's…
Yes Bank has been fined Rs 24 lakh by the GST department for discrepancies in its tax filings. The penalty was imposed after an audit revealed that the bank had underreported its…
The Special Investigation Team SIT on black money is set to submit an interim report to the Supreme Court within 15 days. This development follows the Supreme Court's earlier…
The Supreme Court demanded an explanation from the registry regarding delays in listing cases despite specific directions. The case highlighted issues of administrative…
ICICI Prudential has received a Goods and Services Tax GST demand notice amounting to ₹429 crore for the financial year 2020. The notice, issued by the GST department, pertains to…
The Bombay High Court dealt with the aftermath of the collapse of a statue of Shivaji Maharaj, a revered historical figure, which led to an FIR against officials of the Public…
Citibank settled with SEBI for over ₹40 lakh following an investigation into alleged regulatory violations. The settlement was reached after SEBI's inquiry into the bank's…
The Calcutta High Court has overturned a state-imposed ban on football supporters carrying tifo large banners to stadiums, which was related to a demand for justice for the RG Kar…
The Bombay High Court has imposed a collective cost of ₹80 lakh on BSE, NSE, and SEBI. This decision pertains to regulatory and administrative issues involving these entities,…
The Bombay High Court ruled that no individual can be arrested solely based on allegations of committing a crime without substantive evidence. This ruling came in the context of…
The Delhi High Court has excluded LGBT sexual offences from certain legal provisions under section 377 of the IPC. This decision marks a significant step in decriminalizing and…
An editorial discusses India’s urgent need to boost research and development R&D investment to address trade imbalances and enhance innovation. Increased R&D spending is essential…
The Delhi High Court has ruled on a matter involving the Centre's decision to exclude certain unnatural offenses from the purview of specific legal provisions for a period of six…
The Supreme Court scrutinized the UP prisons official's actions, questioning whether the individual involved was guilty or under external pressure. The court's intense examination…
A new partnership between a bank and a fintech company is set to enhance innovation and risk management in the financial sector. The collaboration aims to leverage fintech…
Ahead of Reliance Industries’ 47th AGM, key topics include the retail IPO and leadership transitions. The AGM is expected to provide insights into Reliance’s strategic plans,…
An insurance company has been fined for denying the full cost of treatment to a policyholder. The penalty highlights the importance of adherence to insurance policy terms and…
MUFG Bank expects over 25% growth in its India operations, focusing on large corporations. The bank aims to leverage India’s growing economy and corporate sector opportunities to…
SEBI has proposed a comprehensive overhaul of investment banking regulations to enhance market integrity and investor protection. The proposed changes aim to address emerging…
A report has highlighted that the Railway Ministry is the leading defaulter in making timely payments to micro, small, and medium enterprises MSMEs . This delay in payments…
The Tamil Nadu MSME Minister has promised to review the demand for a retail policy in the state. The proposed policy aims to address challenges faced by the retail sector,…
The Credit Guarantee Fund Trust for Micro and Small Enterprises CGTMSE has introduced a scheme allowing informal units with an Udyam certificate to secure loan guarantees without…
GRM Overseas has acquired a stake in Rage Coffee, marking a strategic push into the new-age consumer brands sector. This investment aligns with GRM’s strategy to diversify and…
The Indian government has allocated Rs 4,136 crore for the development of 15 gigawatts GW of hydropower projects in the Northeast region of India. This significant investment aims…
The Supreme Court of India has provided relief to employees of Public Sector Undertakings PSUs concerning employment under Scheduled Castes SC and Scheduled Tribes ST categories.…
The Khanij Bidesh India Limited KABIL and Oil India Limited have signed a Memorandum of Understanding MOU to bolster critical minerals exploration in India. This collaboration…
The Securities and Exchange Board of India SEBI has requested support from the Reserve Bank of India RBI to enhance participation in the corporate bond repo market. This move aims…
The live blog covers the listing of IPOs for Orient Technologies, QVC Exports, and Ideal Technoplast. It includes details on the IPO performance, investor responses, and stock…
The Delhi High Court has declared an arbitration clause invalid if the contractor cannot select an arbitrator from the designated panel, in this case, the railways panel. The…
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