India’s insolvency regulator issues new guidelines urging professionals to vigilantly detect signs of abuse in bankruptcy proceedings, reflecting a bid to reinforce the integrity of the insolvency system amid rising concerns over misuse. India’s insolvency regulator has told insolvency professionals…
The Bombay High Court has upheld the deletion of a ₹104.99 crore addition under Section 69C, emphasising that a disputed purchase alone does not constitute unexplained expenditure without proof of source. The Bombay High Court has upheld the deletion of…
India’s insurance regulator has fined Canara HSBC Life ₹1 crore after selling a deferred annuity policy to an 88-year-old, breaching age rules and exposing shortcomings in the sales process. India’s insurance regulator has fined Canara HSBC Life Insurance ₹1 crore…
India’s Reserve Bank is developing a climate-finance architecture amid increasing global enforcement, but faces challenges in enforcement, disclosure standards, and statutory mandates, signalling a cautious but pivotal shift towards climate risk management in the Indian banking sector. India’s central bank…
Gujarat’s legislative assembly approves amendments to accelerate GST refunds, simplify compliance for small businesses, and broaden access to export refunds, aiming to streamline tax processes and bolster economic growth. Gujarat’s legislative assembly has approved amendments to the state’s GST law…
India’s consumer affairs ministry has announced stricter regulations for online shopping platforms, aiming to enhance transparency and consumer rights ahead of the bustling festive season, including measures to combat dark patterns and improve detailed disclosures. India’s consumer affairs ministry has…
SEBI Chairman Tuhin Kanta Pandey assures the continuation of the new closing auction session as regulator prepares a consultation paper, amid growing participation and recent innovations like tokenised bonds and DEMAT 2.0 framework to modernise India’s financial markets. Tuhin Kanta…
The Delhi High Court has directed tax authorities to require biometric Aadhaar authentication for all GST registration applications, aiming to combat widespread fraud and fake registrations nationwide. The Delhi High Court has told tax authorities that no new Goods and…
A recent West Bengal advance ruling confirms that operators recovering electricity costs at actual rates from tenants, without markup, are exempt from charging GST, marking a significant clarifcation for property and facility management practices in India. A West Bengal advance…
India’s Financial Intelligence Unit has issued notices to 15 offshore digital asset platforms, expanding its efforts to enforce anti-money-laundering rules and curb illicit cross-border crypto transactions. India’s Financial Intelligence Unit has stepped up pressure on offshore crypto platforms, issuing non-compliance…
Taxpayers awaiting income-tax refunds in India often face delays due to simple processing or discrepancy checks, not system failures, with guidance on how to track and resolve issues. Taxpayers waiting for an income-tax refund are often dealing with a simple…
The Punjab and Haryana High Court has declared Section 147A of the Income Tax Act, 1961, unconstitutional, challenging the government’s efforts to streamline faceless reassessment procedures amid ongoing legal controversies. The Punjab and Haryana High Court has invalidated Section 147A…
