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The Madras High Court ruled against a 100% GST penalty for erroneous Input Tax Credit ITC under Section 74 of the GST Act, citing inadequate reasoning. Jayasri Traders corrected…
The Allahabad High Court has upheld the Income Tax Appellate Tribunal's decision to annul additions under Section 14A of the Income Tax Act, dismissing an appeal by the…
The Raipur Bench of the Income Tax Appellate Tribunal ITAT has ruled that Corporate Social Responsibility CSR expenses are eligible for deduction under Section 80G of the Income…
According to a Nasscom-Zinnov study, India hosts over 3,600 startups in deeptech, ranking sixth globally in this sector. In 2023, more than 480 new deeptech startups were…
The Madras High Court emphasized that lawyers provide public service similar to government servants and directed the Tamil Nadu Advocate General to ensure timely disbursement of…
The Supreme Court declined to stay counselling for NEET undergraduate admissions, asserting that if the NEET 2024 exam is cancelled later, counselling will automatically cease. \r…
The Supreme Court recently halted criminal proceedings against Ireo and Oberoi Realty's Managing Directors, Lalit Goyal and Vikas Oberoi, concerning allegations of cheating,…
Rahul P Gopal, the main accused in the Pantheerankavu domestic violence case, has filed a petition in the Kerala High Court seeking to quash criminal proceedings initiated against…
The Telangana High Court recently invalidated a notice issued under section 148 of the Income Tax Act, 1961, ruling that it did not adhere to the modified procedure mandated by…
According to a report by Avendus Capital, India's domestic formulations DomForm market, encompassing branded generics, is projected to surpass Rs 5.5 lakh crore by 2034. Currently…
The Reserve Bank of India RBI has revoked the licence of “The City Co-operative Bank Ltd., Mumbai, Maharashtra,” effective June 19, 2024, thereby halting its banking operations. …
WEG S.A. has acquired Regal Rexnord Corporation's industrial electric motors and generators business across multiple countries, including India. In the Indian segment of this…
The CESTAT Chennai bench set aside a service tax demand for an extended period on M/s. R.R. Constructions, which had paid service tax on composite contracts under Construction of…
According to a notification from the excise department, a rescue operation in Madhya Pradesh's Raisen District led to the rescue of 39 underage boys and 20 underage girls from a…
In a recent child custody case, the Goa bench of the Bombay High Court emphasized that children should not be treated as pawns but as individuals with paramount interests that…
The Madhya Pradesh High Court upheld a family court's decision granting divorce to a husband under Sections 13 1 i-a & i-b of the Hindu Marriage Act, 1955, citing cruelty by the…
Children’s mutual funds in India have seen a remarkable surge in Assets under Management AUM , growing by nearly 142% over the past five years to reach Rs 20,081.35 crore in May…
The Allahabad High Court dismissed Ayushi Patel's petition in the NEET UG 2024 exam case after the National Testing Agency NTA informed the court about forged documents submitted…
The Himachal Pradesh High Court overturned the rejection of manual GST refund applications for 2017-2018, 2018-2019, and 2020-2021, mandating fresh consideration under Rule 97A of…
The Madras High Court ruled that a GST order rejecting Jupiter & Co's reply without clear reasons is unsustainable. The petitioner, a dealer under the Tamil Nadu VAT Act, 2006,…
The Madras High Court set aside GST orders ignoring the petitioner’s detailed replies to eight defects found during an inspection. The court noted that the petitioner’s responses…
The Bombay High Court ruled that a slump sale under a Business Transfer Agreement BTA does not amount to the sale of goods under the Maharashtra Value Added Tax MVAT Act, 2002,…
The Andhra Pradesh High Court ruled that GST proceedings without a Document Identification Number DIN are invalid. The bench, comprising Justices Kiranmayee Mandava and Nyapathy…
In April, the Reserve Bank of India RBI sold $3.65 billion on a net basis in the spot foreign exchange market, as per its monthly bulletin. The RBI bought nearly $8 billion and…
On Wednesday, the State Bank of India SBI announced its plan to raise up to Rs 20,000 crore through long-term bonds via public issue or private placement during the current…
In April, the Reserve Bank of India RBI sold $3.65 billion on a net basis in the spot foreign exchange market, as per its monthly bulletin. The RBI bought nearly $8 billion and…
The Rajasthan High Court reaffirmed that the availability of a civil remedy does not warrant the quashing of a criminal complaint alleging both civil wrongs and criminal offences.…
The Madras High Court ruled against a 100% GST penalty for erroneous Input Tax Credit ITC under Section 74 of the GST Act, citing inadequate reasoning. Jayasri Traders corrected…
The Madras High Court set aside an order canceling GST registration due to the petitioner's failure to receive the required ASMT 10 notice before cancellation. Tvl. Bashir Maligai…
The GST Council's law committee has proposed an amendment to the GST Act to address low tax payments due to interpretation issues. The amendment introduces Section 11A to the CGST…
The Himachal Pradesh High Court overturned the rejection of manual GST refund applications for 2017-2018, 2018-2019, and 2020-2021, mandating fresh consideration under Rule 97A of…
The GST Council is set to deliberate on introducing a new form, GSTR-1A, aimed at enhancing the GST filing process. GSTR-1A will allow taxpayers to amend and declare additional…
Justice A. Badharudeen of the Kerala High Court emphasized that the Court has the authority to quash criminal proceedings beyond merely assessing the FIR's contents, especially…
The Himachal Pradesh High Court, through Justice Sandeep Sharma, quashed an FIR against student Tahseen Gul under Section 153 B of the IPC, ruling that praying for a deceased…
The CESTAT Chennai bench set aside a service tax demand for an extended period on M/s. R.R. Constructions, which had paid service tax on composite contracts under Construction of…
On June 10, 2024, the Assam GST Department issued Order No. 1/2024-GST, altering the jurisdiction of certain officers under the Assam Goods and Services Tax Act, 2017. \r The…
On Wednesday, the State Bank of India SBI announced its plan to raise up to Rs 20,000 crore through long-term bonds via public issue or private placement during the current…
The Allahabad High Court has upheld the Income Tax Appellate Tribunal's decision to annul additions under Section 14A of the Income Tax Act, dismissing an appeal by the…
The Karnataka High Court has ruled that proceedings cannot be initiated under the Prevention of Corruption Act without substantial evidence, overturning a case based on an income…
The Raipur Bench of the Income Tax Appellate Tribunal ITAT has ruled that Corporate Social Responsibility CSR expenses are eligible for deduction under Section 80G of the Income…
The Madras High Court ruled that a GST order rejecting Jupiter & Co's reply without clear reasons is unsustainable. The petitioner, a dealer under the Tamil Nadu VAT Act, 2006,…
The Bombay High Court ruled that a slump sale under a Business Transfer Agreement BTA does not amount to the sale of goods under the Maharashtra Value Added Tax MVAT Act, 2002,…
The Allahabad High Court quashed orders issued under Section 74 of the UP GST Act, 2017, on February 22, 2023, and January 16, 2023, citing a violation of natural justice as the…
The Ministry of Finance reported a significant 20.99% increase in net collections of direct taxes for the Financial Year 2024-25 as of June 17, 2024. Provisional figures indicated…
The Karnataka High Court recently ruled that pending income tax dues against borrowers do not hinder the registration of properties purchased in auctions conducted by banks,…
The Telangana High Court recently invalidated a notice issued under section 148 of the Income Tax Act, 1961, ruling that it did not adhere to the modified procedure mandated by…
The National Company Law Tribunal, Chandigarh Bench, comprising Shri Harnam Singh Thakur Judicial Member and Shri L.N Gupta Technical Member , dismissed an application under…
The National Company Law Tribunal, Delhi Bench, comprising Shri Bachu Venkat Balram Das Judicial Member and Shri Atul Chaturvedi Technical Member , dismissed an application under…
Zurich Insurance Company has successfully acquired a 70% stake in Kotak General Insurance for ₹5,560 crore, marking the largest foreign investment in India's general insurance…
Michael Debabrata Patra, Deputy Governor of the Reserve Bank of India, highlighted the evolving challenges facing deposit insurance, particularly amidst heightened uncertainty and…
The Madras High Court ruled against a 100% GST penalty for erroneous Input Tax Credit ITC under Section 74 of the GST Act, citing inadequate reasoning. Jayasri Traders corrected…
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