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Business

Calcutta High Court Restores Interim Restraint Order in Tata Chemicals Fertilizer Rebate Dispute

The Calcutta High Court has reinstated an injunction concerning a disputed fertilizer rebate amount of ₹34.80 crore involving Tata Chemicals. This judicial development revives the interim protection measures in the ongoing legal scrutiny regarding alleged financial irregularities. Finance professionals and corporate advisors must closely monitor these proceedings for broader compliance impacts.

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Taxguru5m ago 1 min
Business

Appellate tribunal rules pre-insolvency lease cancellations remain outside corporate debtor moratorium protections

The National Company Law Appellate Tribunal in Delhi held that the statutory moratorium under insolvency legislation does not safeguard lease agreements terminated prior to corporate insolvency proceedings. This ruling clarifies that landlords can enforce prior cancellations without breaching judicial standstill provisions.

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Taxguru10m ago 1 min
Income Tax

Karnataka High Court rules employee stock option discounts qualify as valid business expenses

The Karnataka High Court held that the difference between the market price and issue price of employee stock options is a deductible business expenditure under Section 37(1). This ruling provides clarity for corporate taxpayers navigating tax deductions on stock option plans.

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Taxguru12m ago 1 min
GST

Tribunal restricts Goods and Services Tax penalties exclusively to undocumented excess items

The appellate authority ruled that monetary penalties under Section 129 cannot apply to an entire shipment when proper billing supports the rest. Only the undocumented surplus portion attracts liability. Tax professionals must evaluate consignment documentation carefully during transit inspections.

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Taxscan12m ago 1 min
Income Tax Govt

Tax tribunal validates four percent royalty and rupee based debenture pricing

The income tax appellate tribunal ruled in favor of the taxpayer regarding international transactions. It accepted a four percent royalty rate along with rupee denominated compulsory convertible debenture interest benchmarking. This decision provides clarity on transfer pricing methodologies for corporate entities.

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Taxguru12m ago 1 min
Economy

India and United States foreign leaders discuss bilateral ties at G20

External Affairs Minister S Jaishankar met US Secretary of State Marco Rubio in Atlanta during the G20 event. Discussions centered on strengthening bilateral cooperation and addressing geopolitical challenges. Both officials emphasized global security and noted that military interventions cannot solve international conflicts.

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ET Economy14m ago 1 min
Income Tax Govt

Bangalore ITAT Accepts Four Percent Royalty and Rupee CCD Benchmarking

The Bangalore bench of the ITAT ruled in favor of Praxair India regarding international taxation disputes. The tribunal permitted a four percent royalty rate alongside rupee-denominated compulsory convertible debenture interest benchmarking. These findings provide clarity on transfer pricing adjustments for corporate taxpayers.

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Taxguru16m ago 1 min
GST

Tribunal blocks tax authorities from denying credit using supplier registration cancellations alone

Tax authorities cannot deny input tax credit solely because a vendor's registration was cancelled retrospectively. The tribunal ruled that the department must verify actual purchase records and compliance with relevant statutory provisions instead of issuing automatic denials. Officials are required to properly investigate transaction authenticity before taking adverse actions against buyers.

Scrips: ITC

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Taxscan17m ago 1 min
Markets

Reliance Retail reports a 24.5 percent profit decline in the quarter despite rising revenues

Reliance Retail Ventures posted a net profit of ₹2,619 crore, marking a 24.5% year-on-year decrease for the quarter. Total revenue advanced by 5.8% to ₹80,220 crore, supported by higher grocery sales. Profitability felt the pressure from strategic spending, festive timeline shifts, and increased borrowing expenses.

Scrips: Reliance Industries

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ET Markets24m ago 1 min
Business

Nagpur Metro builds a 257-metre elevated bridge above railway tracks without using scaffolding

Nagpur Metro is developing a 257-metre elevated bridge situated approximately 80 feet above railway tracks at Uppalwadi under Phase-II. The structure spans three railway lines using the balanced cantilever technique, avoiding the need for traditional scaffolding underneath. This infrastructure forms part of the 6.92-kilometre Reach-2A corridor leading toward Kamptee.

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ET Industry24m ago 1 min
Global Finance

Affluent Indian investors hold liquidity while planning phased capital deployment across domestic and global markets

Affluent Indian investors are retaining liquidity reserves while preparing staggered investments across various domestic and international markets over the next 12 to 24 months. Target geographies include the United States, China, and South Korea, alongside growing interest in private markets and credit opportunities. Real estate investments are also evolving through increased participation in alternative investment funds.

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ET Industry26m ago 1 min
Economy

Delhi-NCR enforces a 50 percent office capacity cap from November 5 to 20 to tackle pollution

Severe air pollution levels across the National Capital Region, exacerbated by adverse meteorological conditions, have prompted regulatory intervention. Government and private offices must restrict operational staffing to 50 percent capacity between November 5 and November 20. This administrative measure aims to reduce vehicular emissions and improve air quality during critical winter pollution episodes.

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Hindu BusinessLine28m ago 1 min

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