The Bombay High Court invalidated search proceedings authorized by the Central Board of Direct Taxes CBDT under Section 132 1 of the Income Tax Act, along with subsequent notices…
20/05/20242 min read
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The Bombay High Court invalidated search proceedings authorized by the Central Board of Direct Taxes CBDT under Section 132 1 of the Income Tax Act, along with subsequent notices…
The Delhi High Court overturned the assessment order and referred the matter back to the Assessing Officer AO as the additions of Rs.70.10 Cr. under Section 69C, based solely on…
TikTok and its parent company, ByteDance, have taken legal action against the U.S. government over new legislation requiring ByteDance to divest its ownership of TikTok or face a…
The Delhi High Court has ruled that taxpayers cannot be prevented from availing the benefits of the Direct Tax Vivad se Vishwas Act, 2020 DTVSV Act , even if the limitation period…
The recent Supreme Court judgment upheld the taxation of concessional or interest-free loans provided by banks to their employees as 'fringe benefits' and 'perquisites' under…
The Income-tax I-T department has introduced a new feature in the Annual Information Statement AIS , allowing taxpayers to track the status of their information verification…
The Delhi High Court declined to intervene with the Assessing Officer's AO decision under section 127 of the Income Tax Act to centralize and transfer the taxpayer's case from the…
In an exclusive interview with CNBC-TV18, Senior Congress leader Jairam Ramesh outlined the goals of the INDIA bloc, emphasizing the need for a stable policy framework, simplified…
Kotak Institutional Equities has issued a warning regarding the unsustainable valuations of numerous Indian companies, citing concerns about excessively high stock prices. The…
The Bar Council of Punjab & Haryana issued a show cause notice to advocate Prakash Singh, who was arrested for allegedly impersonating a judicial officer and violating traffic…
The State Bank of India has persisted in refusing to disclose the standard operating procedures SOPs for the sale and redemption of electoral bonds, in response to an appeal filed…
The International Monetary Fund IMF cautioned the UK government against tax cuts ahead of an upcoming election, stressing the likelihood of future tax rises to address debt…
IDFC First Bank's shareholders and non-convertible debenture NCD holders have approved the merger proposal with its parent company, IDFC Limited, during a meeting convened by the…
CashFlo, a finance automation and payments platform, is reportedly set to acquire LogiTax, a tax compliance management solution provider, according to sources familiar with the…
Access to affordable bank credit for MSMEs has long been challenging due to the lack of collateral. To address this, banks and NBFCs have increasingly used MSME historical data,…
The Supreme Court reaffirmed the applicability of Section 436A of the Code of Criminal Procedure to accused individuals under the Prevention of Money Laundering Act, 2002 PMLA .…
The Directorate of Enforcement ED , Gurugram Zonal Office, has provisionally attached properties valued at Rs. 58.93 Crore under the Prevention of Money-Laundering Act PMLA ,…
Tata Consultancy Services TCS , India's leading IT services company, has introduced a responsible artificial intelligence AI framework and toolkit for customers and cloud partners…
Telecom operators, in collaboration with technology partners, are set to implement new solutions to curb pesky calls and text messages, building on the success of a…
Amazon is facing two new lawsuits in the US. Arizona's Attorney General Kris Mayes accuses the e-commerce giant of deceptive practices, alleging violations of the state's Consumer…
Human rights lawyer Amal Clooney, along with a panel of legal and academic experts, contributed to the International Criminal Court's decision to seek arrest warrants for Israeli…
India is poised for a significant overhaul of its criminal justice system with the introduction of three new legal codes effective from July 1, 2024: the Bharatiya Nyaya Sanhita,…
The Institute of Chartered Accountants of India ICAI has found Chartered Accountant CA Parameswari D. guilty of professional misconduct following a complaint filed by the…
The GST implications surrounding financial assurances provided by group entities to banking and financial institutions, such as corporate guarantees, letters of comfort, sponsor…
India's renewable energy capacity saw modest growth in FY24, adding just over 18GW, falling short of the ambitious 500GW target by 2030. A study by IEEFA and JMK Research…
The Narendra Modi government's crackdown on Goods and Services Tax GST evasion has revealed over ₹10,000 crore in evasion related to works contracts and construction services in…
The government has assured non-banking financial companies NBFCs of addressing concerns regarding the imposition of Goods and Services Tax GST on their co-lending arrangements…
The Insurance Regulatory and Development Authority of India IRDAI has introduced new norms on commission payments to insurance agents and intermediaries, aiming to foster…
Balu Forge Industries Ltd BFIL recently announced its acquisition of three forging production lines, augmenting its capacity for producing forged products by 72,000 tons. The…
The Kerala High Court stayed income tax recovery proceedings during the pendency of an appeal, citing sufficient reasons in the delay condonation application by the petitioner, an…
Last week, five of India's top-10 firms saw a combined increase of Rs 85,582.21 crore in market capitalisation, buoyed by positive equity trends. LIC led the gains with its…
IRDAI has upheld proposals for higher Special Surrender Values SSV for endowment policies despite insurers' concerns, as reported by Moneycontrol. SSVs are payouts for premature…
The National Consumer Disputes Redressal Commission, chaired by Dr. Sadhna Shekhar, dismissed an appeal against United India Insurance, ruling that the insurer bears no liability…
Previously, exiting a life insurance policy within the first year yielded minimal refunds. The IRDAI now mandates a higher Special Surrender Value SSV for traditional endowment…
The National Company Law Tribunal NCLT has initiated insolvency proceedings against Supertech Realtors, developer of the Supernova project in Noida, following a default of Rs…
Canadian pop star Justin Bieber has revamped his financial management team, parting ways with longtime business manager Lou Taylor and hiring renowned advisor Edward White, known…
In a recent development, the Kerala High Court has directed the Central government to consider appointing advocate Rajesh M Menon as the Special Public Prosecutor in the Walayar…
The Delhi ITAT quashed reassessment proceedings against Chaudhary Stone Crusher, a firm using a partner’s property as its address, which was sold before the notice under Section…
The Kerala High Court remanded an order due to a violation of natural justice, as notices under Section 250 of the Income Tax Act, 1961 were sent to the wrong email ID. The…
Over two months into implementing the UT Excise Policy for FY 2024-25, Chandigarh's excise and taxation department has yet to establish the track and trace system aimed at curbing…
CII President Sanjiv Puri has suggested income tax relief for the lowest slab in the upcoming 2024-25 Budget to address high inflation. In a PTI interview, he emphasized creating…
The Delhi ITAT ruled that assessments under Section 153A of the Income Tax Act, 1961, without mandatory approval, are invalid. Emaar MGF Land Limited challenged the assessment,…
The Madras High Court remanded a GST order for reconsideration due to Yesem Marketing's non-response to a Show Cause Notice SCN concerning discrepancies between GSTR 1 and GSTR 3B…
The National Consumer Disputes Redressal Commission, chaired by Mr. Subhash Chandra, dismissed a complaint against Oriental Insurance, emphasizing proper procedures in policy…
The Kerala High Court halted recovery steps after the Deputy Commissioner issued a demand notice following an assessment order under the Kerala General Sales Tax Act, 1963. The…
A businessman asked if import purchases should be included in GST returns. Yes, imports are subject to IGST, and details must be reported in GSTR-2 form's Column 5. Importers can…
The Reserve Bank of India RBI was honored with the Risk Manager of the Year Award 2024 by Central Banking, London, for implementing a new enterprise-wide risk management ERM…
Central banks in advanced economies are showing reluctance to join a global interest-rate cutting trend this week. Following the Federal Reserve's tempered outlook on US monetary…
The Supreme Court, in a recent ruling on stamp duty refund under the Maharashtra Stamp Act, 1958, emphasized that refund cannot be denied solely because the application was filed…
The Kerala High Court ruled that Magistrates, when ordering maintenance for a daughter under Section 20 1 d of the Domestic Violence Act, must specify whether the maintenance…
The Bombay High Court invalidated search proceedings authorized by the Central Board of Direct Taxes CBDT under Section 132 1 of the Income Tax Act, along with subsequent notices…
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