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Income Tax Govt

Tax Tribunal Strikes Down Rs 2.47 Crore Tax Deduction Demand on Distillery Franchise Outlays

Income Tax Appellate Tribunal cancels a ₹2.47 crore tax deduction at source demand regarding franchise payments made to distilleries. The bench determined these profit transfers operate as standard commercial dealings rather than fees for professional services. This verdict gives clear relief to taxpayers navigating similar industrial franchise arrangements.

Effective Not specified in the update

For professionals: Review existing franchise agreements and withholding classifications to protect clients against similar demands. · Document the precise nature of distillery payments to establish them as regular business transactions rather than technical services.

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Taxscan4m ago 1 min
Income Tax

Supreme Court Rejects Tax Department Plea to Recall Withdrawn Special Leave Petition in Nokia Treaty Dispute

The Supreme Court majority rules against recalling a dismissed special leave petition or filing a secondary petition on an identical matter without explicit judicial permission. This verdict resolves procedural questions stemming from the income tax department's challenge in the Nokia double taxation avoidance agreement litigation. It restricts state machinery from relitigating dropped matters without proper court leave.

Effective Not specified in the update

For professionals: Advise clients that neither a dismissed special leave petition order can be recalled nor can a second petition be filed on the same issue without securing explicit leave of the court. · Exercise caution when advising clients on whether to withdraw or press appeals before the highest court. · Preserve comprehensive records and secure clear permissions if any future review is contemplated.

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Taxscan12m ago 1 min
Fintech & UPI

Artist Diljit Dosanjh Launches RuPay AURA India Tour 2026 With Packed Performance in Delhi

Singer Diljit Dosanjh initiates the RuPay AURA India Tour 2026 featuring a completely sold-out opening concert in Delhi. The entertainment event marks the initial milestone for the multi-city musical series backed by the RuPay brand. Fans gathered in large numbers to witness the high-profile tour commencement.

Effective Not specified in the update

For professionals: Evaluate entertainment partnerships and brand recall impacts on lifestyle card adoption rates. · Analyze ticket sales velocity and sponsorship yields from large tours to gauge consumer spending health.

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EventFAQs12m ago 1 min
Income Tax

Apex Court Sets Legal Boundaries on Restoring Dismissed Special Leave Petitions in Nokia Matter

The Supreme Court provides definitive guidance regarding the permissibility of recalling withdrawn special leave petitions following the tax department's unsuccessful plea. The majority decision bars the revival of dismissed petitions or the initiation of secondary challenges on identical grounds without formal judicial consent. This outcome reinforces procedural discipline in high-value tax disputes.

Effective Not specified in the update

For professionals: Advocates and corporate tax advisors must incorporate the restrictive doctrine regarding withdrawn special leave petitions into their litigation strategies. · Legal teams need to evaluate the permanent implications of withdrawing an appeal because reversing that choice later is practically barred. · Professionals should treat every appellate withdrawal as a final procedural step unless explicit court permission to res is obtained.

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Taxscan12m ago 1 min
Insurance

Insurance Regulator Proposal to Limit Agent Commissions Threatens Field Earnings for Corporation Vendors

Life Insurance Corporation agents face potential financial pressure due to a regulatory commission cap proposal from the insurance authority. The contemplated changes seek to restructure payout limits across policy categories, impacting field distributors. Industry participants voice concerns over how reduced margins will affect sales force retention.

Effective Not specified in the update

For professionals: Insurance agents, agency leaders, and distribution networks must evaluate their operating models and diversify product portfolios to offset potential income reductions. · Compliance officers within insurance firms need to prepare software adjustments and advisory notices ahead of final regulatory notifications.

Scrips: LIC of India

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The Federal13m ago 1 min
Markets Breaking

Domestic Equity Benchmarks Register Massive Gains as Sensex Jumps 1,233 Points and Nifty Crosses 23,400

Indian stock markets witness a substantial upward surge, with the Sensex climbing 1,233 points and the Nifty index successfully reclaiming the 23,400 mark. Market analysts attribute this robust recovery to five key domestic and global triggers boosting investor sentiment. Trading sessions closed on a strong positive note across major sectors.

Effective Not specified in the update

For professionals: Review asset allocations to ensure client portfolios are not overly exposed to short-term volatility spikes. · Monitor institutional flow data and global cues to distinguish between sustainable rallies and temporary dead-cat bounces. · Advise on rebalancing portfolios during broad-based market surges while maintaining disciplined risk management.

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IndiaIPO13m ago 1 min
Markets Breaking

Indian Equities Post Gains at Closing Bell With Benchmark Nifty 50 Index Advancing 1.68 Percent

Indian stock exchanges finished the trading day in positive territory, supported by buying interest in blue-chip equities. The Nifty 50 index recorded a solid 1.68 percent increase by the end of the session. Market participants witnessed widespread buying across multiple sector gauges.

Effective Not specified in the update

For professionals: Investors and wealth managers should track sector-specific participation rates to identify which industries are leading the recovery. · Maintaining diversified equity holdings helps capture broad market gains while insulating portfolios against sudden sector reversals.

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Investing.com14m ago 1 min
Business

Homebuyers association asks prime minister to reform real estate regulatory act

An organization representing homebuyers has requested the prime minister to restructure the real estate regulatory framework. They highlighted that consumer protection must be separated from sector promotion due to ongoing enforcement issues and stalled projects causing financial harm.

Effective Not specified in the update

For professionals: Monitor potential legislative amendments concerning the Real Estate Regulation and Development Act. Strengthen due diligence on project timelines and developer compliance records.

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ET Industry25m ago 1 min
Markets

Online Fixed Income Portals Tap Into Growing Investor Interest Amid Fluctuations in Equity Markets

Digital bond investment platforms are capitalizing on recent equity market volatility by attracting retail investors toward fixed-income instruments. These platforms offer alternative debt products designed to provide stable yields during uncertain market cycles. Investors are increasingly diversifying portfolios away from volatile stocks into corporate bonds.

Effective Not specified in the update

For professionals: Evaluate online bond platforms to diversify client portfolios with high-yield corporate debt instruments. · Conduct rigorous credit risk assessments on individual bond offerings before recommending them to risk-averse investors. · Integrate fixed-income products from digital platforms to help clients balance portfolio risk during equity market corrections.

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The Indian Express14m ago 1 min
Markets Breaking

Domestic Equities Register Gains at Market Close Driven by Nifty 50

Indian share markets ended the trading session on a positive note. The headline Nifty 50 index recorded a notable upward movement of 1.68% by the time trading concluded.

Effective Not specified in the update

For professionals: Portfolio managers and investors are advised to review asset allocations and keep track of technical support levels. Market participants should monitor upcoming trading sessions and global cues to assess whether this upward trend sustains.

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Investing.com India15m ago 1 min
Economy

French Sovereign Bond Yields Remain Stable Following Negative Rating Outlook

French bond yields maintained stability even after Fitch revised the nation's rating outlook to negative. Market participants balanced local fiscal anxieties and political factors against softer energy prices and global geopolitical events.

Effective Not specified in the update

For professionals: Monitor European sovereign debt auctions, future rating reviews, and regional fiscal policy announcements. · Keep track of how international credit outlook revisions impact global borrowing costs and fixed-income market sentiment.

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ET Markets26m ago 1 min
Markets Breaking

Mold-Tek Packaging Stock Jumps After Reporting Strong Q2 FY27 Results

Mold-Tek Packaging shares climbed nearly 17% following robust Q2 FY27 financial results. The firm posted a 35.5% year-on-year rise in net profit to Rs 21 crore alongside 30.5% revenue growth.

Effective Not specified in the update

For professionals: Examine Mold-Tek Packaging's detailed balance sheet following its financial performance announcement. · Analyze corporate earnings growth in packaging companies as a proxy for consumer demand and industrial activity across sectors like FMCG and pharmaceuticals.

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ET Markets24m ago 1 min

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