The Supreme Court on Friday set aside NCLAT order of December 18, 2019 restoring Cyrus Mistry as executive chairman of Tata Group.
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 Telecom Disputes Settlement and Appellate Tribunal will hear the petition, asking for a stay against the government order permitting crossover allotment, on Wednesday. In its petition, the COAI has said the DoT's decision has been taken with 'unseemly' haste to benefit a few operators that have made a 'backdoor entry' on the basis of 'invalid applications' given in February 2006.
The total admitted claim of financial creditors of these 88 companies stood at Rs 1.3 trillion, of which they recovered Rs 65,635 crore.
With investors seeking clarity from the market tribunal SAT on Bharti Airtel's proposed mega deal with MTN, the Sunil Mittal company today said it is still in discussion with the South African firm.
This has to be one of the most blatant tricks Raja is pulling off.
Reliance Infrastructure's 4,000-MW power project at Shahpur in Raigad district is facing legal hurdles on environmental ground
Harshvardhan Nawathe, who won the Rs 1-crore (Rs 10 million) prize money on quiz show 'Kaun Banega Crorepati', continues to face queries on his tax liability even nine years after he emerged as the winner of the popular television reality show.
Indian subsidiary of consumer electronics major Sony has been allowed by income tax tribunal to claim deductions on its expenses on advertisement and sales promotion for calculating its tax liability.
According to the makers, the CBFC was not happy with references made to Prime Minister Narendra Modi and use of real names in the film.
The service tax department had issued notice to Microsoft India in September 2008 demanding Rs 400 crore (Rs 4 billion), which consisted of a duty demand of Rs 255 crore and interest on the amount for three years, over an alleged tax evasion for services provided by the company to its sister concern in Singapore.
The taxation of payments by Indian companies for importing defence material and oil and gas equipment from various countries like Russia, Ireland, Greece and Georgia will now become easier following an Income Tax Appellate Tribunal order.
The move should help as many as 25 aspirants, including Unitech, Parsvnath, DLF, HFCL and Shyam Telecom, seeking to enter the lucrative GSM mobile services space.
Spectrum refers to the radio frequencies that enable wireless communication. It has been the source of a bitter dispute between mobile operators of the rival GSM and CDMA technologies. In its petition, Tata Teleservices has also demanded immediate allocation of spectrum that is under the contractual obligation in areas in which it has fulfilled its subscriber base criterion.
In a setback to DLF, the competition Appellate Tribunal on Monday upheld the CCI order imposing Rs 630 crore penalty on the realty major for unfair business practices.
Setting aside the orders of the AO and Commissioner of Income Tax (Appeals) in case of Delhi-based Genesis Overseas case, the ITAT has ruled that tax sleuths cannot impose penalty without clearly mentioning the grounds for such action.
The judge gave the ruling while dismissing a petition filed by the Commissioner of Customs. The court upheld the Customs, Excise and Services Tax Appellate Tribunal's earlier judgement, stating that the interpretation by the tribunal was in consonance with the Computers (Additional Duty) Rules, 2004.
The government has served showcause notices to various telecom firms for alleged under-reporting of revenues of over Rs 10,800 crore till November 2012, Lok Sabha was informed on Friday.
The Trai's move comes in the wake of sector tribunal Telecom Disputes Settlement and Appellate Tribunal rejecting last month a plea by some private mobile firms.
As a result of the TDSAT order, over 65 pay channels like Star One, Colors and Star Cricket would be able to raise prices, which were capped by Trai. The TDSAT rejected Trai's tariff order of October 2007 that had capped prices in different categories of cities based on population.
Although the Singapore-based World Sports Nimbus has decided to file an appeal against the CIT (Appeals) order with the Income Tax Appellate Tribunal, the tax case will have wide implications for foreign companies telecasting live cricket matches. In the present case, assessing officer imposed a tax liability of Rs 6 crore (Rs 60 million) on Nimbus on the income it had earned by telecasting live cricket matches during 2002 to 2005.
Sebi, in its first-of-its-kind disgorgement order passed at the end of November last year, had asked the two depositories and 10 entities to pay Rs 115.81 crore (Rs 1.15 billion).
Markets regulator Sebi and the Directorate of Revenue Intelligence (DRI) are probing some Adani Group companies for alleged non-compliance with rules, the government told Lok Sabha on Monday. Minister of State for Finance Pankaj Chaudhary in a written reply to a question said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms.
The Securities Appellate Tribunal (SAT) has stayed a Sebi order which imposed a fine of Rs 1 crore on HDFC Bank for invoking securities pledged by stock broker BRH Wealth Kreators, till further orders. Sebi had imposed the fine and also directed the bank on January 21 to transfer Rs 158.68 crore along with 7 per cent interest per annum into an escrow account till the issue of settlement of clients' securities is reconciled. "The fact that the circulars have been violated or not and whether the securities have been rightly invoked by the appellant requires consideration," the tribunal said in an order dated February 19 while giving three weeks time to Sebi to file a reply.
Trai contends that the issue does not come under the tribunal's jurisdiction.
During proceedings at Telecom Disputes Settlement and Appellate Tribunal, counsels appearing for both sides today informed the bench that the issue has been resolved and requested to dispose of the petition.
It said the amendments to the Sebi Act will facilitate utilising the services of officials appointed members of SAT as normally retired people join the body.
Tribunal's direction came during the hearing of a petition filed by Anil Ambani group firm Reliance Fuel Resource Ltd, seeking license for laying pipelines from KG Basin to its upcoming power plant at Dadri, Utter Pradesh. The board had directed Reliance Fuel to apply afresh for a license to build a pipeline from Kakinada to Dadri as there were no guidelines at that time. It asked the company to apply in compliance with new regulations.
The Centre had challenged the Income Tax Appellate Tribunal's order, which had held that gifts, including cash and property given by her supporters, was out of love and affection and not taxable.
Promoters must mandatorily deposit 70% of unused fund collected for project in separate bank account
Locked in face-offs with two different regulatory agencies CCI and Sebi, realty major DLF's Chairman K P Singh on Monday suggested a provision in laws to sue regulators if their decisions get overturned at later stages.
Cable operators body has demanded an equal footing with the DTH players.
'To save the LTCG, it's always better that the owner of the property that was sold also becomes the title holder in the new one.'
Passing an interim order, Telecom Dispute Settlement and Appellate Tribunal also directed BSNL to restore RCom's inter- connection within 48 hours of such payment. TDSAT Chairman Justice Arun Kumar said: "I am of a view that the petitioner (Rcom) should deposit an amount of 65 per cent of disputed claim in one week and respondent should restore the connection with 48 hours of the deposit."
The Delhi High Court on Monday refused to pass any order on the telecom appellate tribunal's decision pertaining to spectrum allocation, even as GSM mobile players sought a probe into the government's move to allow use of dual technology.
A special bench of the Delhi Income Tax Appellate Tribunal has ruled that the income tax that an employer pays on behalf of its employee is a non-monetary benefit in kind and, therefore, exempt from tax.
Hours after the Censor Board chairperson Leela Samson leveled charges that the government was interfering in the functioning of the body, the government has come forward and refuted Samson's charges, asserting that it has always maintained a distance from the certification process.
Etihad's acquisition of 24 per cent stake in Jet Airways was the first FDI in an Indian carrier by a foreign airline.
Indian Hotels, which owns the chain of Taj hotels and East India Hotels, may gain from a tax court ruling that allows hoteliers to claim depreciation and tax benefits on imported cars which are used to ferry tourists.
The Bombay high court in an order said bakshish can be considered as business expenditure. Observing that paying over and above the contractual amount to sugarcane harvesting workers was "necessary incidence of business," the division bench of Justices F I Rebello and J P Deodhar upheld a decision of Income Tax Appellate Tribunal.
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