The Delhi High Court overturned the retrospective cancellation of registration for S.S. Enterprises, citing lack of reason in the Show Cause Notice SCN . \r The petitioner, Zahira…
05/06/20241 min read
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The Delhi High Court overturned the retrospective cancellation of registration for S.S. Enterprises, citing lack of reason in the Show Cause Notice SCN . \r The petitioner, Zahira…
The Bangalore Bench of CESTAT ruled that manufacturing display materials falls under "Trading Advertising Material," attracting zero duty. The tribunal responded to a show-cause…
The Allahabad bench of the Customs, Excise & Service Tax Appellate Tribunal CESTAT abated an appeal filed by M/s Moser Baer India Ltd. as no application was made by the official…
The Chennai bench of the Customs Excise and Service Tax Appellate Tribunal CESTAT remanded a case concerning service tax liabilities of the Coimbatore City Municipal Corporation…
In May, domestic air passenger traffic grew by 5.1% year-on-year to an estimated 138.9 million, surpassing pre-Covid levels by around 14%, according to Icra. For FY24, domestic…
Issuances of certificates of deposit CD and commercial paper CP surged in May due to tight banking system liquidity and diversified borrowing by non-banking finance companies…
Andrew Holland, CEO of hedge fund Avendus Capital Alternate Strategies, expressed optimism about the Indian banking sector, attributing it to the upcoming favorable interest rate…
New Delhi: The Centre has no plans to merge public sector banks PSBs in FY25 but will continue with privatization efforts, according to sources. Currently, there are no proposals…
The Gauhati High Court ruled that an accused cannot be convicted solely based on an unsigned confessional statement without additional evidence Shri Kedukhoyi v. State of Nagaland…
The Supreme Court lamented that delays in case disposal are often blamed on the courts, even though lawyers and litigants contribute. A vacation Bench of Justices PV Sanjay Kumar…
The Government of India Floating Rate Bond 2031 FRB 2031 will have a rate of interest of 7.98% per annum for the period from June 07, 2024, to December 06, 2024. The bond's coupon…
HSBC Holdings Plc received a £57.4 million fine from the UK for improperly excluding billions of pounds from a depositor protection scheme, marking the Prudential Regulation…
The National Consumer Disputes Redressal Commission, presided over by Mr. Subhash Chandra and Dr. Sadhna Shanker, ruled that insurance claims cannot be dismissed solely due to…
The Chairman of the Insurance Regulatory and Development Authority of India Irdai , Debasish Panda, is set to convene with CEOs of the Indian insurance sector in Mumbai to…
The Lok Sabha election outcome, contrary to exit polls, has sparked concerns about coalition reliance. Bankers emphasize the necessity of a stable government for executing…
The Central Board of Direct Taxes reported a 20.25% increase in India's net direct tax collections, reaching ₹15.60 lakh crore, 80.23% of the Revised Estimates for FY 2023-24. \r…
In a recent case, the New Delhi branch of the Income Tax Appellate Tribunal ITAT ruled that treating cash deposits as unexplained without rejecting the books of account is…
In a recent ruling, the Bombay High Court stated that 'Transit Rent' cannot be taxed as a revenue receipt. The petitioner's counsel requested clarification on the order, seeking…
The Income Tax Department has emphasized the importance of validating and re-validating bank accounts to ensure seamless income tax refunds. Taxpayers are urged to keep their bank…
The Mumbai bench of ITAT invalidated the Income Tax Assessment Order, emphasizing that it cannot be issued in the name of a nonexistent entity. The dispute arose from assessing…
With the National Democratic Alliance NDA set to govern for a third term, India's real-money gaming RMG industry anticipates regulatory clarity. RMG, a significant revenue…
The proposed Central Excise Bill, 2024, intends to eliminate the exemption of excisable goods produced in Special Economic Zones SEZs from duty, subject to separate notification…
The Lok Sabha Election 2024 result, announced by the Election Commission of India on June 4, revealed the BJP-led NDA falling short of its '400 paar' target. Trends indicated a…
The Kerala High Court's ruling in Faizal Traders Pvt Ltd vs Deputy Commissioner centers on the denial of a GST input tax credit ITC claim and related penalties. Faizal Traders…
The ACB special court denied bail to the Deputy State Tax Officer implicated in a GST fraud case involving Rs. 2.8 lakhs. \r Allegedly, the officer, along with another, unlawfully…
The Calcutta High Court emphasized that overlooking GSTR-9 by revenue authorities prejudices taxpayers' rights when errors are revenue-neutral. The appellant, in communications,…
The Delhi High Court nullified a demand of Rs. 12 lakhs as the Show Cause Notice SCN was uploaded in the GST portal under "Additional Notices" without proper communication to the…
The Gauhati High Court, through Justice Malsari Nandi, emphasized a husband's legal obligation to support his wife if he's capable, regardless of job status. \r Rejecting a…
The Jammu and Kashmir and Ladakh High Court, under Justice Rajesh Sekhri, ruled that the death of a government employee doesn't automatically entitle their family to compassionate…
CESTAT Chennai Bench annulled a penalty on a Customs Broker for lack of mens rea. The broker was implicated in facilitating an exporter's MEIS scheme misuse. Allegedly, the…
The Chandigarh Bench of CESTAT ruled that no redemption fine is applicable when the minimum import price MIP is paid on prime pre-painted steel coils, quashing penalties under the…
The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal CESTAT ruled that royalty should not be included in the transaction value of imported raw materials,…
The Madhya Pradesh High Court, led by Justice Prem Narayan Singh, emphasized the credibility of close relatives as witnesses in criminal cases. Rejecting the argument to disregard…
The Directorate of Enforcement ED , Nagpur, provisionally attached movable and immovable assets valued at Rs. 38.33 Crore in the Multi-level Marketing scam of M/s Shreesurya…
Vistaar Finance, an MSME lending firm, secured a $25 million funding from the US International Development Finance Corporation DFC , part of a larger $50 million loan. This comes…
The Telecom Centre of Excellence India TCoE , under the Department of Telecom, seeks proposals from startups and companies to conduct a survey among MSMEs, focusing on their…
The Department of Telecommunications DoT invites proposals from organizations and startups to develop an Industry 4.0 baseline survey for India's MSME sector, emphasizing digital…
The rising dominance of a few companies in US stock market indices is causing concerns about a possible bubble, challenging active fund managers to beat the benchmark. Michael…
The Directorate of Enforcement ED , Hyderabad, conducted searches at eight locations in Hyderabad and Ongole under the PMLA against M/s Chadalavada Infratech Limited CIL and…
The Directorate of Enforcement ED , Allahabad Sub Zonal Office, has provisionally attached properties worth Rs. 20.6 crore under the Prevention of Money Laundering Act PMLA ,…
Indian Prime Minister Narendra Modi, if re-elected, plans to introduce business-friendly measures, aiming to make it easier to hire and fire workers and offering subsidies for…
MeitY Secretary S Krishnan emphasized the IT ministry's commitment to sustaining momentum and initiating new projects while building on past achievements. Addressing the…
Four lawyers have been chosen for the Indian Litigation Fellowship, an initiative supporting young women in law. Preethi G, Dnyaneshwari Patil, and Dhanya Visweswaran will serve…
Today, the domestic stock market rebounded strongly, recovering most of the losses from the previous day. Boosted by expectations of a stable government under the NDA, the Nifty…
In April 2024, non-banking financial companies NBFCs raised nearly 30% more funds from mutual funds MFs , totaling Rs 2.08 trillion, compared to the previous year, as per CareEdge…
On Wednesday, Indian private bank stocks surged, with the Nifty Private Bank index climbing 4.10%, outpacing the Nifty50, which rose 3.01% to 22,453 levels. RBL Bank, IndusInd…
At Money20/20 in Amsterdam, Intellect Global Consumer Banking iGCB unveiled the eMACH.ai Digital Engagement Platform eMACH.ai DEP , aiming to revolutionize banking customer…
According to a recent report, white-collar hiring in sectors like Oil and Gas, Banking, and FMCG has shown steady improvement, with a 6 per cent growth in May compared to April.…
The Jharkhand High Court, led by Acting Chief Justice Shree Chandrashekhar and Justice Navneet Kumar, rejected JUVNL's appeal against appointing a sole arbitrator in its dispute…
The Supreme Court criticized a party for bypassing the Orissa High Court's division bench and directly challenging a single-judge's judgment Registrar, Orissa University of…
The Delhi High Court overturned the retrospective cancellation of registration for S.S. Enterprises, citing lack of reason in the Show Cause Notice SCN . \r The petitioner, Zahira…
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