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The tribunal has ordered the dissolution of a corporate debtor following the completion of its liquidation process. It has also instructed the recovery of ₹52.84 lakh in preferential payments along with a 10 percent annual interest rate. This decision concludes the resolution proceedings for the entity.
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The Bombay High Court ruled that the limitation period for filing an income tax appeal starts from the date the aggrieved party actually receives the appellate order. This clarifies that the timeline does not begin on the date the order was pronounced.
Effective Not specified in the update
For professionals: - Advise clients that the limitation period for filing an income tax appeal begins on the date of receipt of the ITAT order, not the date of pronouncement - Review pending appellate timelines to ensure appeals are filed based on the actual date of receiving the judicial document rather than the pronouncement date
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The tribunal threw out a personal insolvency application filed by State Bank of India seeking to recover ₹430.12 crore. The dismissal occurred because the bank failed to establish any valid extension of the prescribed limitation period.
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The appellate authority instructed IRCTC to deposit ₹50.41 crore for failing to pass on the benefits of a GST rate reduction on Rail Neer. The ruling emphasizes that tax relief must reach consumers even when the retail price is government-fixed.
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Cruise operator Villa Vie Residences announced it will disembark passengers and crew and restructure its business operations. The abrupt termination of the luxury voyage was driven by surging fuel costs.
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A legal review outlines upcoming indirect tax amendments taking effect on 1 November 2026. The updates cover post-supply discounts, credit notes, provisional refunds, and export refund procedures.
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The Goods and Services Tax Network's multi-state registration facility uses a Master TRN to streamline applications. It retains separate GSTINs and distinct state-wise compliance obligations for businesses operating across jurisdictions.
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A detailed regulatory overview covers plastic waste extended producer responsibility registration in India. The guide addresses eligibility, MSME exemptions, packaging categories, recycling targets, certificates, and statutory returns.
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Bajaj Life Insurance Chief Investment Officer Srinivas Rao Ravuri anticipates Nifty 50 companies will record mid-teens earnings growth across fiscal years FY27 and FY28. He expresses a strong preference for large-cap equities, pointing to fair pricing levels and strengthening profitability outlooks. This optimistic projection highlights large-cap segments as attractive options for market participants.
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The Hyderabad bench of the Goods and Services Tax Appellate Tribunal held that authorities cannot reject claims for refunding accumulated input tax credit originating before July 2022 by relying on a specific CBIC circular. This ruling offers clarity to businesses seeking legitimate tax refunds under historical indirect tax provisions. The decision protects taxpayer rights against restrictive administrative clarifications.
Effective Not specified in the update
For professionals: - Review pending refund applications impacted by pre-July 2022 credit accumulations to assess potential legal recourse - Advise clients that administrative circulars cannot override statutory entitlements regarding tax credit refunds
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Global brokerage Jefferies projects Vodafone Idea shares could climb up to ₹29 in a bull-case scenario, though prices might drop to ₹9 if tariff increases fail to materialize. The firm maintains a revised base-case target of ₹16, representing a 34% potential upside from current levels. Stock recovery hinges critically on continuous network investments and expanding the subscriber base.
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The Sensex finished the trading session in negative territory, driven downward by widespread selling pressure across information technology equities and climbing global crude oil prices. Market sentiment weakened as investors reacted to these twin pressures during the trading day. The decline reflects broader macroeconomic sensitivities impacting domestic equity benchmarks.
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