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The Income Tax Appellate Tribunal in Rajkot ruled that tax authorities cannot request a substantive review of an order by filing a rectification application. The bench clarified that Section 254(2) permits correction of apparent mistakes only, rather than re-evaluating merits.
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The Supreme Court declined to remit an arbitration dispute back to the tribunal because the original award lacked essential findings. This decision reinforces the legal boundaries governing how courts handle incomplete arbitral determinations.
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Gold prices dropped 22 percent from their peak prior to Dhanteras, even as early Democratic gains in the United States midterm elections weakened the dollar and pushed bullion up by about 2 percent. However, continuing worries over higher interest rates and inflation keep downward pressure on the metal, though domestic festive and wedding demand provides some market support.
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Democratic candidates flipped the Senate after securing victories in the House during the 2026 United States midterm elections. Live updates tracked competitive legislative races across states including Texas, Georgia, Ohio, and Minnesota.
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Data from Prime Database shows 124 companies hold valid Securities and Exchange Board of India approvals to launch initial public offerings to collectively raise ₹2.45 trillion. An additional 130 corporations are waiting for regulatory clearance after submitting their offer documents.
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The Bombay High Court has struck down a tax disallowance of ₹17.57 crore under Section 14A of the Income Tax Act. The ruling confirms that expenditure cannot be disallowed when the taxpayer has not generated any exempt income during the relevant period. This decision provides significant relief to corporate taxpayers facing similar adjustments.
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Analyst group GTRI warns that US President Donald Trump may pressure India into a rapid trade agreement. The proposed pact would force New Delhi to lower import tariffs on American goods while Washington retains its own barriers. Experts note this could violate World Trade Organization most-favoured-nation rules and threaten India's energy security.
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The Himachal Pradesh High Court has held that interest awarded under Section 28 of the Land Acquisition Act forms an integral part of the compensation package. This classification ensures that landowners receive proper statutory treatment regarding tax and disbursement rights. The ruling clarifies ambiguities surrounding judicial interest payouts in property acquisition cases.
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Low-cost airline IndiGo is discussing a potential purchase of 100 regional jets from Embraer, alongside options for another 50 aircraft. Deliveries for this prospective deal could begin around 2030 or later, according to sources. The agreement remains unfinalized but represents a major milestone for the Brazilian manufacturer in the Indian market.
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The National Company Law Appellate Tribunal (NCLAT) dismissed an appeal regarding contempt proceedings, ruling that no appeal lies against the dropping of such actions. The tribunal found no wilful disobedience and confirmed no bank withdrawals occurred.
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The Delhi High Court ruled that the development authority cannot utilize an as-is-where-is clause to escape its statutory plot obligations. The judgment clarifies the accountability of public land agencies toward commercial and residential allottees.
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Securities and Exchange Board of India (SEBI) exempted a promoter family trust from making an open offer for a 34.41 percent stake acquisition. The regulator cited genuine succession planning while noting that beneficial ownership, control, and public shareholders' interests remain unchanged.
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