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 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.
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.
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.
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.
The matter came up before Justice Subramonium Prasad who listed it for hearing on October 16.
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.
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.
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".
With this latest notice, the Income Tax department has raised a total demand of Rs 3,567 crore from the Congress.
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.
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.
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.
As on April 1, income tax arrears have increased to Rs 43 trillion from Rs 24 trillion on April 1, 2023.
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.
The Income Tax department has suggested an amendment for taxation of bad debt to the Central Board of Direct Taxes
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.
The Andhra Pradesh government's attempt to ride roughshod over the Environment Protection Act 1986 to allow a massive private thermal power plant on the wetlands of Srikakulam district has failed.
The Insurance Regulatory and Development Authority on Monday proposed major amendments in the Insurance Act,
In a curious case of the right hand not knowing what the left is doing, the Law Ministry has released the letter written by former Chief Election Commissioner N Gopalaswami to the President seeking removal of fellow Election Commissioner Navin Chawla while the Rashtrapati Bhawan had declined to make the document public.
The JNU panel had in 2016 recommended rustication of Khalid and two other students and imposed a fine of Rs 10,000 on Kumar.
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 Prime Minister's Office has refused to furnish data on documents and records it held on the mysterious disappearance of Netaji Subhas Chandra Bose, saying the disclosure would harm India's relations with foreign countries.
The controversy over the goods and services tax (GST) rate on food products refuses to die. Now, the Gujarat-based authority of advance rulings (AAR) has ruled that 'parathas' would attract 18 per cent GST. The applicant, Vadilal Industries, sought to know whether various kinds of 'parathas' supplied by them would attract five per cent GST in line with 'khakhra', plain chapati or 'roti'.
This has affected all political activity of the party, Maken said at a press conference.
The Goods and Services Tax (GST) Council, which is likely to meet in the third or fourth week of June, is set to clear the operational framework of the much-awaited GST appellate tribunal, which will deal with tax disputes and streamline resolution. "The final blueprint, mainly the operational part, is expected to be presented in the GST Council meeting for approval. "This will pave the way for the tribunal to be functional, both at the central and state levels," said a senior government official, who expects the tribunal to be up and running by November.
As corporate India gears up to be GST-ready, the ongoing litigation and tax dispute cases are something most businesses are cagey about.
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.
Google has termed as "tainted" the investigations done against it by CCI, contending that the two informants on whose complaint the fair trade regulator has initiated the enquiry were working at the same office that was investigating the tech major. This was "against the principles of natural justice", Google said in the petition filed before the National Company Law Appellate Tribunal (NCLAT), adding the Competition Commission of India (CCI) should have refrained from initiating an investigation based on a complaint filed by their own employees. "At the very least, the Commission could have debarred the Informants from working in the DG office while the investigation was ongoing, to ensure that the investigating officer was able to impartially assess the case without any influence, such that no concerns could arise on the independence of the investigation," said Google.
The devastating fire that gutted the four-storied building housing the marketing office of Dunlop India Ltd early this morning would have no impact on the revival plans of the company
Justice Jasmeet Singh noted that arguments in court proceedings include assertions doubting the victim's integrity and character while she is forced to be present in the same space as the person who has allegedly violated her.
The CIC's directive came while deciding on a plea by Lucknow-based activist Nutan Thakur, who had based her RTI application on some media reports that RBI deputy governor Viral Acharya in a lecture in 2017 had said accounts of some loan defaulters have been sent to banks for resolution.
Among other grounds for seeking discharge, Purohit had claimed lack of sanction under relevant provisions of the Code of Criminal Procedure to prosecute him.
The bench noted even the high court has said in its judgement that 80 per cent of the work related to the survey has been completed.
Deciding the goods and services tax rate on fryums papad could be a messy affair with the Appellate Authority for Advance Rulings (AAAR) of Gujarat now ruling that the ready-to-eat product would draw 18 per cent rate. In that connection, it slightly modified the ruling of the state-based Authority for Advance Rulings (AAR). The AAR had also ordered that these products would draw 18 per cent GST but under a different classification.
