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GST

Delhi High Court Provides Interim Safety Against Arrest In Tax Credit Probe

The Delhi High Court has issued an interim order shielding a taxpayer from coercive steps and arrest during an ongoing Goods and Services Tax input tax credit inquiry. Legal professionals and businesses can review this development while awaiting further court proceedings on the matter.

Effective Not specified in the update

For professionals: Monitor the Delhi High Court interim directive regarding the ongoing Goods and Services Tax input tax credit investigation to understand judicial relief parameters. · Advise corporate clients that judicial forums can be approached for interim relief against coercive actions during tax probes before final adjudication. · Prepare to review client documentation for valid supporting records and supplier tax deposits in light of active tax authority scrutiny.

Scrips: ITC

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Taxguru4m ago 1 min
Investment Breaking

NSE Posts Twenty Three Percent Profit Surge in First Post Listing Earnings

National Stock Exchange reported a twenty three percent year on year increase in consolidated net profit for the second quarter of financial year twenty seven, reaching two thousand five hundred seventy eight crore rupees. This performance was driven by robust trading activity, which lifted transaction charge revenue and more than doubled operating earnings before interest, taxes, depreciation, and amortization.

Effective Not specified in the update

For professionals: Consolidated net profit for the second quarter of financial year twenty seven grew by twenty three percent year on year to reach two thousand five hundred seventy eight crore rupees. · Operating earnings before interest, taxes, depreciation, and amortization more than doubled, landing at three thousand seventy nine crore rupees. · Revenue generated through transaction charges climbed nine percent to touch three thousand thirty five crore rupees during the period.

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LiveMint Markets13m ago 1 min
Income Tax

Karnataka High Court sets aside reassessment notices concerning unexplained bank deposit explanations

The Karnataka High Court has set aside reassessment notices issued to an assessee regarding explanations for unverified bank credits. The court found procedural flaws in the tax authority's approach to handling the taxpayer's submissions. This ruling provides relief against arbitrary reopening of past tax assessments.

Effective Not specified in the update

For professionals: Review pending reassessment matters involving bank deposits to identify similar procedural lapses by assessing officers. · Advise clients that tax authorities must demonstrate proper application of mind and adhere strictly to statutory safeguards rather than issuing mechanical notices for unexplained deposits.

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Taxguru19m ago 1 min
Business

India's First Indigenous Bullet Train Trainset B28 Targets 2027 Trials

India's initial home-grown high-speed trainset, named B28, features an operational velocity of 249 kilometers per hour and a testing limit of 280 kilometers per hour. The eight-coach transport accommodates approximately 557 passengers with modern amenities, targeting trial runs on the Mumbai-Ahmedabad route in May-June 2027.

Effective Not specified in the update

For professionals: Tax and corporate professionals must note that the update contains no tax, filing, or compliance sections. No specific regulatory provisions, sections, or statutory mandates are stated in the text.

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ET Industry21m ago 1 min
Income Tax Govt

Bengaluru ITAT location does not establish territorial jurisdiction, rules Karnataka High Court

The Karnataka High Court ruled that the physical location of the Income Tax Appellate Tribunal in Bengaluru does not automatically confer territorial jurisdiction. The court emphasized that jurisdiction must be determined based on statutory rules rather than the mere address of the tribunal bench. This decision impacts how tax appeals are assigned and heard.

Effective Not specified in the update

For professionals: The Karnataka High Court ruled that the mere physical location of the Income Tax Appellate Tribunal in Bengaluru does not establish territorial jurisdiction over a tax dispute. · Jurisdictional competence must be strictly derived from the statutory nexus between the taxpayer's assessment unit and the designated tribunal bench rather than physical accessibility or convenience of access. · Tax practitioners and chartered accountants must ensure appeals are filed before the correct designated tribunal bench to avoid matters being legally infirm or subject to procedural challenges.

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Taxguru21m ago 1 min
Commodities

State-run refiner Bharat Petroleum Corporation Limited purchases a cargo of United States West Texas Intermediate crude

Indian refiner Bharat Petroleum Corporation Limited has secured a cargo of United States West Texas Intermediate crude oil. The acquisition diversifies the company's crude sourcing strategy amid fluctuating global energy markets. This purchase highlights the growing integration of American petroleum products into India's refining feedstock mix.

Effective Not specified in the update

For professionals: Monitor how crude sourcing shifts impact gross refining margins and working capital cycles for public sector refiners. · Evaluate advisory impacts based on the transaction involving state-owned refiner Bharat Petroleum Corporation Limited acquiring a cargo of United States West Texas Intermediate crude oil.

Scrips: BPCL

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Crude Oil Prices Today | OilPrice.com25m ago 1 min
Economy

Venkata Ramana Akkaraju Takes Charge as Vice-Chancellor of Indian Maritime University

Venkata Ramana Akkaraju has been appointed as the new Vice-Chancellor of the Indian Maritime University. Prior to this role, Akkaraju served in the position of Chairman at the New Mangalore Port Authority.

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For professionals: Venkata Ramana Akkaraju has officially taken over the role of Vice-Chancellor of the Indian Maritime University. · Stakeholders and academic administrators should monitor subsequent operational directives or governance changes emerging from the institution.

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Hindu BusinessLine28m ago 1 min
Global Finance

Russia Confirms Upcoming Ukraine Talks in Abu Dhabi Alongside Potential Summit Plans

Moscow has verified that upcoming discussions regarding Ukraine will take place in Abu Dhabi next week. Additionally, officials indicated the possibility of a summit involving Trump, Putin, and Xi, which has sparked concerns regarding Kyiv's participation in the diplomatic process.

Effective Not specified in the update

For professionals: Monitor upcoming geopolitical developments regarding the Abu Dhabi meetings and potential summit schedules to assess risks. · Evaluate potential impacts on global supply chains and cross-border trade for clients.

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CNBC Global32m ago 1 min
Business

Tata Motors Buys Italy's Iveco Stake to Build Major Commercial Vehicle Giant

Tata Motors has acquired an 89.42% stake in Italy's Iveco for nearly 3.43 billion euros. This combination creates the world's fourth-largest commercial vehicle group with projected annual revenues of Rs 2.28 lakh crore, targeting higher volumes and margins.

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For professionals: Automotive analysts and sector investors must evaluate the financial consolidation, debt implications, and integration milestones outlined in subsequent quarterly disclosures. · Track regulatory approvals and post-merger synergy execution reports closely to gauge the true bottom-line impact on shareholder value and competitive positioning in international markets.

Scrips: Tata Motors

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ET Industry32m ago 1 min
Investment

Indian government bonds record minor gains as falling crude prices offset midterm election caution

Indian government bonds registered a modest increase as the 10-year bond yield approached a one-month high. Investor sentiment was supported by declining crude oil prices, despite lingering caution ahead of the United States midterm elections. The benchmark yield touched its lowest level since early October following notable drops in prior sessions.

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For professionals: Fixed-income portfolio managers, institutional investors, and corporate treasury teams must closely track sovereign yield curves and global commodity trends when timing debt issuances or deployments. · Domestic debt markets remain sensitive to imported energy inflation because lower crude prices reduce fiscal deficit pressures and trade imbalances.

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ET Markets35m ago 1 min
Commodities

U.S. stock futures trade mixed amid rising oil prices, Apple margin warnings, and election caution

United States stock index futures displayed a mixed performance as crude oil prices climbed ahead of midterm election results. Apple shares declined following warnings of rising costs and potential holiday-quarter margin pressures. Meanwhile, Palantir Technologies shares dropped despite beating revenue estimates, as analysts cautioned about rising market volatility.

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For professionals: Evaluate client portfolios with exposure to United States equities and technology sector valuations for potential margin compression risks. · Advise investors on managing equity risk premiums and heightened market volatility tied to upcoming election outcomes and government expenditure trends.

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ET Markets38m ago 1 min
Markets

US Stock Futures Mixed Amid Apple Margin Concerns and Midterm Results

United States stock futures traded mixed as market participants awaited upcoming midterm election outcomes and evaluated Apple Inc. warnings regarding margin pressures. Investors processed corporate updates alongside political developments while monitoring directional cues for equities.

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For professionals: Monitor international indices and currency movements to assess potential spillover effects on domestic portfolios. · Track official midterm vote tallies and subsequent corporate earnings reports for broader market direction indicators.

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ET Markets38m ago 1 min

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