Chief Justice of India D Y Chandrachud on Thursday advised market regulator SEBI and the Securities Appellate Tribunal (SAT) to exercise caution amid a significant surge in equity markets and pitched for more tribunal benches to ensure that the "backbone is stable". Inaugurating the new SAT premises here, CJI Chandrachud pitched for authorities to consider opening up new benches of the SAT given the higher workloads because of higher quantum of transactions and newer regulations.
The Supreme Court has issued notices to 23 states and three UTs on a petition by Tata Motors seeking quashing of the Central Sales Tax Appellate Authority's decision asking it to pay Central Sales Tax to the tune of around Rs 14 crore (Rs 1 40 million) on sale of bus chassis to the Andhra Pradesh government.
A retired judge of Bangladesh's Supreme Court was detained from the northeastern frontier with India in Sylhet while he was allegedly attempting to flee the country, the Border Guard Bangladesh (BGB) said late on Friday.
'How can one expect fair elections in such a situation when funds to the tune of Rs 270 crore have been freezed or taken away by the Income Tax authorities from Congress party's accounts'
If these celeb sightings are anything to go by, the 10th edition of Jhalak Dikhhla Jaa is going to be a visual delight.
The Supreme Court on Thursday set aside the Bombay high court verdict cancelling the caste certificate of Amravati MP and BJP leader Navneet Kaur Rana.
The Parliament on Wednesday approved a legislation to further amend the Central Sales Tax Act, 1956 and facilitate smooth functioning of the Appellate Authority with the Rajya Sabha returning the bill by a voice vote.
The Supreme Court said on Thursday that the purpose of criminal proceedings is to bring a wrongdoer to justice and not to seek revenge or pursue vendetta.
Packed frozen 'paratha' is not 'roti or chapatti' as it requires further cooking before consumption and despite wheat flour being the 'common thread' there are other ingredients used in making parathas, said an order by the Gujarat Appellate Authority for Advance Ruling. Such parathas, whether named Malabar, Mixed vegetable, Onion, Methi, Alu, Laccha, Mooli or Plain, have ingredients like margarine, salt, emulsifying agent, oil, potato, peas, cauliflower, coriander powder, bread improver and water, apart from wheat flour, which make 'quite different' from plain roti or chapatti and hence are not eligible for 5 per cent Goods and Services Tax (GST) rate, the ruling said. The percentage of wheat flour used by Vadilal Industries, which had approached the AAAR, in the eight varieties of paratha manufactured and supplied by it ranges from 36-62 per cent, whereas the ingredient for plain roti or chapatti is wheat flour apart from water.
Maharani Lakshmi Bai of Jhansi is a "national hero" and history should not be divided on "communal politics", the Delhi high court said on Wednesday while pulling up the Shahi Idgah managing committee for making "scandalous pleadings" in its plea against installation of her statue inside the Shahi Idgah Park at Sadar Bazar in New Delhi.
The appellate authority which heard the appeals of the 21 Jawaharlal Nehru University students who were penalised in connection with the controversial February 9 event has found all of them guilty of indiscipline even as the financial penalty imposed on some of them has been reduced.
The NCLAT on Wednesday upheld the orders of the fair trade regulator CCI imposing a penalty of Rs 1,337.76 crore on tech major Google in the Android mobile devices case, with some modifications.
President Mohammed Shahabuddin said he did not have any documentary evidence of Hasina resigning as prime minister before she fled the country on August 5 amidst student-led mass protests.
While Khalid was rusticated for one semester and slapped with a fine of Rs 20,000, Bhattacharya was rusticated till July 15 and after July 23 he was barred from the university campus for five years.
The Delhi high court on Thursday rejected petitions by the Congress challenging the initiation of tax reassessment proceedings against it for a period of four years by tax authorities.
As on April 1, income tax arrears have increased to Rs 43 trillion from Rs 24 trillion on April 1, 2023.
The court also sought an undertaking from Kanhaiya that he will allow the university to function properly and there will be no agitation.
In a relief for foreign firms giving loans to Indian subsidiaries, tax authorities have said goods and services tax (GST) will not be imposed on them, subject to some caveats. Additional fees, commissions, or related payments - over and above the amount charged as interest - on these loans will attract GST at 18 per cent, the Central Board of Indirect Taxes and Customs (CBIC) has said.
Apart from the charge of indiscipline against them, the students in their pleas had also challenged their punishment, which ranged from rustication for a few semesters to withdrawal of hostel facilities and fines.
With this latest notice, the Income Tax department has raised a total demand of Rs 3,567 crore from the Congress.
The Delhi high court on Monday dismissed a public interest litigation (PIL) challenging the RBI's decision to withdraw Rs 2,000 denomination banknotes from circulation. A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad, which had reserved its order on the PIL on May 30, rejected the plea. Petitioner Rajneesh Bhaskar Gupta has contended that the Reserve Bank of India (RBI) has no power to withdraw Rs 2,000 currency notes from circulation and only the Centre could have taken a decision in this regard.
After Sebi rejected the information sought from it through an Right To Information application in this regard, the appellant approached the Appellate Authority but the appeal has been rejected there also.
The matter came up before Justice Subramonium Prasad who listed it for hearing on October 16.
The National Company Law Appellate Tribunal (NCLAT) on Thursday issued notices over the petition filed by e-commerce major Amazon, challenging a recent order passed by the fair trade regulator CCI that suspended the over-two-year-old approval for its deal with Future Coupons Pvt Ltd (FCPL). The appellate tribunal has directed the Competition Commission of India (CCI) and FCPL to file their reply in next 10 days and Amazon to file a rejoinder over it. It has directed to list the matter on February 2, for next hearing.
A vacation bench of Justices NJ Jamadar and Sharmila Deshmukh passed the decision on Wednesday while hearing a petition filed by the company challenging two orders of the state government.
The Bengaluru-headquartered company said the 'draft assessment order' from tax authorities for 2008-09 fiscal has arised primarily due to denial of deduction under section 10A of the Income Tax Act, 1961, in respect of profit earned by its undertaking in the Software Technology Park at Bengaluru.
Telecom tribunal TDSAT on Monday rejected a contempt application filed by Anil Ambani group company Reliance Communications against Cellular Operators Association of India, for allegedly taking the legal battle on spectrum for a media trial.
The Supreme Court has dismissed an appeal filed the customs department against Adani Power Maharashtra Limited (APML), Adani Power Rajasthan Limited (APRL) and others in a case pertaining to alleged over-valuation of imported goods. "We have heard Balbir Singh, Additional Solicitor General appearing for the appellant(s), and Mukul Rohatgi, senior counsel appearing for the respondents, at length. "We are of the considered opinion that the matters are concluded by the findings of fact recorded by the authorities below and the impugned order(s) does not require any interference at our behest.
This has affected all political activity of the party, Maken said at a press conference.
In an apparent violation of the Right to Information Act, the Public Information Officer at the Prime Minister's Office has refused to provide information to an applicant, saying he failed to show how it was "useful" to him "either personally, socially or nationally".
Did Jeff Bezos decide against endorsing Harris because it would hurt his business interests? Only God and Bezos know, and neither of them are talking, notes Prem Panicker.
In a huge relief, an appellate court in Qatar has commuted the death sentence of eight former Indian Navy personnel, arrested in an alleged case of espionage in August 2022.
A hearing on making the income tax returns of members of Parliament public was held on Thursday at the Central Information Commission premises in New Delhi.
With the Supreme Court declining to intervene in the tax demand case against it Friday, mobile service company Vodafone faces a potential tax demand of up to $2 billion (Rs 9,800 crore) from the tax authorities.
iGate said these demands are not tenable and the NASDAQ-listed firm has approached the requisite appellate authorities.
Quoting Greek philosopher Socrates, Justice Bopanna emphasised that there are four qualities that are expected of a judge -- to hear courteously, to consider soberly, to answer wisely and to decide impartially.
A public authority possesses power only to use it for public good and this imposes a solemn duty on the State to act impartially and to adopt a procedure of allotment of licence which is 'fair play in action,' the Supreme Court has said.
The court sentenced Patkar after considering the evidence before it and the fact that the case went on for over two decades.
The Income Tax department has suggested an amendment for taxation of bad debt to the Central Board of Direct Taxes
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