Skip to content

Finance, made simple.

LIVE · 45 sources 9 govt trackersLive news, laws, quiz & AI - fresh every 10 min.

Finance Dose

Everything a finance person must know - re-brewed every 10 minutes

AI curated

Live Updates

297 stories
GST

Kerala High Court Directs Fresh Review on Misallocated Goods and Services Tax Input Tax Credit

The Kerala High Court has set aside an assessment order regarding the incorrect utilisation of Goods and Services Tax (GST) Input Tax Credit (ITC) across different tax heads. The court instructed authorities to conduct a fresh assessment while considering relevant legal principles. Tax professionals and businesses must review their ITC allocation records to ensure compliance.

Scrips: ITC

Open for the full story →

Taxguru4h ago 1 min
GST

Kerala High Court Quashes Assessment Order on Cross-Head Goods and Services Tax Credit Adjustments

The Kerala High Court quashed a tax assessment order concerning improper adjustments of Goods and Services Tax Input Tax Credit between IGST, CGST, and SGST heads. The court mandated a fresh review of the case to evaluate the adjustments properly. Businesses must monitor their tax credit ledgers to prevent cross-head allocation errors.

Scrips: ITC

Open for the full story →

Taxguru4h ago 1 min
RBI/SEBI Govt Breaking

Market regulator penalizes four entities forty lakh rupees in front-running case

The Securities and Exchange Board of India imposed a total penalty of Rs 40 lakh on four entities, including Woodstock Broking and Marfatia Stock Broking. The action follows an investigation into front-running trades between April 1, 2021, and March 31, 2022. Evidence showed brokers supported these illicit trades through infrastructure and assistance.

Open for the full story →

ET Markets4h ago 1 min
GST

Kerala High Court Orders Fresh Review of Misallocated Central and State Goods and Services Tax Credits

The Kerala High Court ordered a fresh review of a tax assessment involving Goods and Services Tax Input Tax Credit claimed under incorrect tax heads. The court's decision requires authorities to reassess CGST and SGST credit allocations. Taxpayers must audit their electronic credit ledgers to avoid classification disputes.

Scrips: ITC

Open for the full story →

Taxguru4h ago 1 min
GST

Kerala High Court rules input tax credit cannot be rejected solely for mismatch

The Kerala High Court held that tax authorities cannot reject Input Tax Credit solely due to discrepancies with Form GSTR-2A. The court ordered a fresh reassessment of the matter. This decision protects taxpayers from denial based strictly on automated portal mismatches.

Scrips: ITC

Open for the full story →

Taxguru4h ago 1 min
Markets

BLS International posts record second quarter revenue driven by digital services expansion

BLS International reported a record second-quarter financial performance for fiscal year 2027 with revenue touching Rs 973 crore, marking a 32 percent year-on-year increase. First-half revenue grew 28.7 percent to reach Rs 1,863 crore, supported by expansion in visa, consular, and digital services. Quarterly earnings before interest, taxes, depreciation, and amortization rose 16.6 percent while profit after tax climbed 8.6 percent.

Open for the full story →

LiveMint Markets4h ago 1 min
Income Tax Govt

Delhi tax tribunal rules appellate registration under Section 12AA permits earlier tax exemptions

The Income Tax Appellate Tribunal Delhi ruled that granting Section 12AA registration during appellate proceedings permits tax exemptions for earlier assessment years. The decision clarifies the retroactive benefit of charitable registration orders. Tax authorities must now evaluate past claims in light of the later-granted certificate.

Open for the full story →

Taxguru4h ago 1 min
Income Tax Govt

Delhi tribunal deletes Section 153A additions made on uncorroborated statements

The Income Tax Appellate Tribunal Delhi deleted additions made under Section 153A that relied solely on uncorroborated statements. The tribunal emphasized the need for tangible evidence during search assessments. This ruling reinforces taxpayer protections against arbitrary additions without supporting documents.

Open for the full story →

Taxguru4h ago 1 min
Banking

Utkarsh Small Finance Bank reports sixth consecutive quarterly loss of seventy crore rupees

Utkarsh Small Finance Bank posted a net loss of Rs 70 crore for the second quarter, marking its sixth consecutive quarter of financial decline. The lender recorded an operating profit of Rs 85 crore, but high provisions of Rs 166 crore pushed it into a net loss. The gross non-performing asset ratio improved slightly to 5.96 percent as of September end, while the gross loan portfolio grew 7.5 percent year-on-year to Rs 20,062 crore.

Open for the full story →

ET Markets4h ago 1 min
Income Tax Govt

Surat tribunal rules cheque discounting turnover cannot be taxed entirely as unexplained income

The Income Tax Appellate Tribunal Surat ruled that cheque discounting turnover cannot be taxed entirely as unexplained income. The tribunal clarified that only the commission or profit earned from such transactions should be brought to tax, not the gross turnover amount. This decision prevents disproportionate tax assessments on financial intermediaries.

Open for the full story →

Taxguru4h ago 1 min
Banking

Punjab National Bank staffer and Pune resident arrested over ten crore fraud

An office assistant of Punjab National Bank in Greater Noida and a private individual from Pune were arrested for an alleged fraud involving Rs 10.24 crore. The fraudulent withdrawals spanned multiple customer accounts over a three-year period. Punjab National Bank launched its internal investigation after a customer reported suspicious debit transactions.

Scrips: Punjab National Bank

Open for the full story →

ET Industry4h ago 1 min
Income Tax Govt

ITAT Ahmedabad lowers estimated profit on unrecorded property funds from 17 percent to 13 percent

The Ahmedabad bench of the Income Tax Appellate Tribunal reduced the estimated profit margin on undisclosed cash payments in a real estate transaction. By adjusting the rate from 17 percent down to 13 percent, the tribunal offered relief to the taxpayer in the property sector.

Open for the full story →

Taxguru4h ago 1 min

Explore everything

One place for all of finance - tap any card to jump in.