The Income Tax Appellate Tribunal ITAT allowed Axis Bank’s claim for an Rs. 8.3 crore interest expense under Section 14A of the Income Tax Act, referencing a previous ruling. This…
05/08/20241 min read
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The Income Tax Appellate Tribunal ITAT allowed Axis Bank’s claim for an Rs. 8.3 crore interest expense under Section 14A of the Income Tax Act, referencing a previous ruling. This…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT dismissed Mitsubishi’s appeal, ruling that Electric Power Steering EPS and Electronic Control Unit ECU are parts of…
The Delhi High Court has set aside a penalty imposed on a customs broker under the Customs Brokers Licensing Regulations CBLR for an importer’s misdeclaration. The court ruled…
The Indian government is likely to accept Infosys' plea regarding a GST notice that the company received for a substantial tax demand. Infosys has contested the demand, and the…
In the Assessment Year AY 2023-24, 72% of taxpayers opted for the new income tax regime introduced by the Indian government, which offers lower tax rates without exemptions and…
The Central Board of Indirect Taxes and Customs CBIC issued a circular in June 2023 to address ambiguities in the Goods and Services Tax GST framework regarding services imported…
The Supreme Court ruled that banks cannot classify MSME loan accounts as NPAs without following the procedure outlined in the Centre's 2015 notification. This notification…
The Chhattisgarh High Court ruled that unexplained cash credits are to be treated as taxable income under the Income Tax Act. The court emphasized that the burden of proof lies on…
The Supreme Court extended the term of the Justice Gita Mittal Committee by six months. This committee was established to address humanitarian issues arising from ethnic violence…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT ruled that service tax is payable on trading securities as it constitutes a service. This decision clarifies the tax…
The Delhi High Court ruled that the amendment to Section 153C of the Income Tax Act does not revive time-barred proceedings. This decision reinforces the principle that amendments…
The Madhya Pradesh High Court ruled that recorded conversations can be admitted as evidence in matrimonial disputes, provided they are not obtained through illegal means. This…
A plea has been filed in the Supreme Court seeking an investigation into alleged manipulations of Electronic Voting Machines EVMs and violations by the Election Commission of…
The Delhi High Court sought responses from bar bodies regarding a plea for reserving seats for women lawyers in the DHCBA. The court’s inquiry reflects ongoing discussions about…
New customs and banking rules aimed at aligning with China are expected to boost e-commerce exports. These changes are designed to streamline trade processes and enhance the…
Google, Amazon, and Walmart are reportedly seeking to join the RBI’s digital currency project. Their participation could influence the development and adoption of digital…
The potential for women in rural India to transform the banking sector is discussed in the context of green initiatives. The analysis explores how empowering women and adopting…
ACKO is diversifying its portfolio by acquiring OneCare, a healthcare services provider. This move expands ACKO's offerings beyond auto insurance into health insurance, reflecting…
Antler India plans to double its investments this year, aiming to boost its portfolio and support emerging SMEs. This increase in investment reflects a commitment to fostering…
Postman’s secondaries are being sold at a steep discount, reflecting a significant drop in valuation. This development has implications for investors and stakeholders, as the…
India's Paytm has received government approval for a new initiative, signaling a boost for its operations and financial services. This development is expected to enhance Paytm’s…
The Delhi High Court directed the social welfare secretary to visit the Asha Kiran shelter home following a spate of 14 deaths in one month. The court expressed concern over the…
The National Company Law Tribunal NCLT in Mumbai has ruled that the presence of an arbitration clause in a contract does not prevent operational creditors from filing applications…
The Delhi High Court has ruled that the initiation of income tax reassessment must be evaluated independently of the Assessing Officer's AO powers post-reopening. The court…
The Supreme Court has ruled that candidates who are temporarily unfit during a medical examination conducted by the UPSC are entitled to a fresh assessment. The court invoked…
Justice B.V. Nagarathna has criticized the actions of some Indian governors, stating that their roles have deviated from their constitutional duties. According to her, these…
The Allahabad High Court quashed an order related to a GST e-way bill discrepancy involving different addresses. The court ruled that the mismatch was likely a human error rather…
The Karnataka GST Department has withdrawn a substantial GST pre-show cause notice amounting to Rs. 32,000 crore issued to Infosys. The withdrawal follows reviews and adjustments…
The Gauhati High Court has stayed coercive proceedings related to the extension of the time limit under Section 73 10 of the GST Act, citing the lack of a GST Council…
The Income Tax Appellate Tribunal ITAT allowed a trust to claim Long-Term Capital Gains LTCG exemption under Section 1038, despite changes in the section for claiming exemptions.…
The Income Tax Department plans to issue notices for the Assessment Year AY 2018-19 in light of recent budget changes affecting reassessment periods. The department aims to ensure…
The NCLT Mumbai dealt with a case where parties in a Corporate Insolvency Resolution Process CIRP presented an insufficiently stamped agreement. The tribunal dismissed the…
The NCLT Delhi addressed issues related to exchange debit notes in insolvency proceedings. It ruled that such notes cannot be used to justify claims if there is a pre-existing…
The Authority for Advance Rulings AAR has ruled that rent received for providing pure services to the Department of Social Welfare is exempt from GST. This decision clarifies that…
The NCLT Kolkata ruled on a corporate insolvency case involving liquidation. The tribunal underscored that liquidation proceedings must align with public interest and ensure fair…
The National Company Law Tribunal NCLT Delhi addressed issues related to interest invoices and civil court decrees. It clarified that for an invoice to be considered in insolvency…
The Central Board of Direct Taxes CBDT Chairman has indicated that the government is considering decriminalizing the delayed filing of Tax Collected at Source TCS in the upcoming…
The Punjab and Haryana High Court has mandated an investigation into a woman's alleged filing of false sexual harassment cases. The court criticized the misuse of the legal…
The Kerala High Court recently addressed a case involving the Communist Party of India Marxist CPIM in relation to a death sentence. The court held that the trial court had…
State Bank of India SBI reported a marginal increase in its net profit for the first quarter. This modest growth reflects the bank's ongoing efforts to improve its financial…
The IPO market is experiencing a surge with three new issues and twelve listings anticipated in the coming week. This uptick in activity is attributed to growing investor…
Carlsberg has announced plans to acquire the remaining 33% stake in Carlsberg South Asia for USD 744 million. This strategic move aims to consolidate its presence in the South…
The cabinet has approved the establishment of four joint ventures in the energy sector. These ventures are expected to enhance energy production and distribution, promoting sector…
CREDAI-MCHI supports the MahaRERA mandate requiring developers to deliver occupancy certificates to protect homebuyers. This regulation aims to ensure transparency and…
The RBI has announced the final redemption price for the Sovereign Gold Bond SGB 2016-17 Series I, with a significant gain of 122% for bondholders. This substantial return…
The upcoming week in the stock market will be influenced by several key triggers, including the RBI's policy decision, Q1 corporate results, and geopolitical developments such as…
Axis Securities has identified nine top large-cap stock picks for August, including ICICI Bank, SBI, HDFC Bank, and Bharti Airtel. These recommendations are based on the…
Analyst Sumeet Bagadia recommends three stocks to buy on August 5 ICICI Bank, SBI, and HDFC Bank. He suggests these stocks based on their strong financial performance, robust…
The IPO allotment for Akums Drugs and Pharmaceuticals is expected to be finalized, with investors keenly awaiting the allocation results. The company's strong growth prospects and…
Dhiraj Relli of HDFC Securities suggests that the Indian stock market has the potential to rise significantly after a short-term correction. He cites strong economic fundamentals,…
The Income Tax Appellate Tribunal ITAT allowed Axis Bank’s claim for an Rs. 8.3 crore interest expense under Section 14A of the Income Tax Act, referencing a previous ruling. This…
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