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CA Corner

CESTAT Delhi Rules DFIA Customs Demand Time-Barred Without Intent to Evade Duty

The Delhi bench of CESTAT ruled that customs demands under the DFIA scheme are time-barred if authorities fail to prove an intent to evade duty. This decision protects importers from extended limitation periods when there is no deliberate suppression or misstatement. Finance professionals must review past duty notices to check if extended timelines were applied incorrectly.

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Taxguru5m ago 1 min
CA Corner

CESTAT Mumbai Clarifies Cocoa Powder Excluded From DFIA Flour Authorisations

CESTAT Mumbai ruled that cocoa powder falls outside the scope of DFIA authorisations issued for flour imports. The tribunal confirmed that dissimilar inputs cannot be claimed under generic export-import licenses without specific matching descriptions. Importers must verify exact input-output norms before filing duty-free claims.

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Taxguru8m ago 1 min
Business

Timex Group India reports forty seven percent revenue increase to three hundred fifty nine crore rupees

Timex Group India has announced a forty seven percent rise in revenue reaching three hundred fifty nine crore rupees for the second quarter of financial year twenty twenty seven. The company experienced strong financial performance during this period. Detailed financial breakdowns are provided in their official filings.

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Indian Retailer11m ago 1 min
CA Corner

Grasim and Suzlon Partner to Build India's First Recyclable Wind Turbine Blades

Grasim Industries Limited, through Aditya Birla Renewables Limited, signed an MoU with Suzlon Energy Limited to create India's first wind turbines featuring recyclable blades. This collaboration aims to advance sustainable manufacturing within the domestic renewable energy sector. Stakeholders should monitor forthcoming project timelines and technological rollouts.

Scrips: GrasimSuzlon

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Taxguru11m ago 1 min
Business

MRPL increases crude oil procurement amid escalating shipping risks from ongoing conflict

Mangalore Refinery and Petrochemicals Limited has increased its crude oil purchases to counter elevated shipping risks caused by war. The state-run refiner is adjusting its procurement strategy to secure steady feedstock supplies. Officials noted that geopolitical tensions continue to impact maritime trade routes.

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Economic Times14m ago 1 min
Business

Indian sugar prices climb four rupees per kilogram in a month despite government interventions

Domestic sugar prices have increased by four rupees per kilogram over the past month, pushing retail rates to fifty nine point five zero rupees and wholesale rates to fifty five point four zero rupees per kilogram. Kolkata records the highest retail price at sixty five rupees while Delhi stands at sixty four rupees per kilogram. The government is utilizing stock limits and imports to control supply.

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ET Industry15m ago 1 min
Personal Finance

India Property Listings Edge Up 0.5 Percent in Q3 With Nagpur and Lucknow Leading

India's property listings recorded a modest 0.5 percent increase during the third quarter, with Nagpur and Lucknow driving the growth. This sluggish national uptick highlights uneven regional real estate activity across the country. Market participants should analyze local supply trends before making capital commitments.

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Business Standard16m ago 1 min
Fintech & UPI

OneStack Secures Rs 12.5 Crore to Integrate Cooperative Banks Into UPI Ecosystem

OneStack raised Rs 12.5 crore in funding to expand cooperative banks deeper into the Unified Payments Interface ecosystem. The capital will help upgrade digital infrastructure for smaller regional lenders. Financial institutions must adapt to these technological integrations to stay competitive.

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The Economic Times16m ago 1 min
Income Tax Govt

Allahabad High Court Rules Section 12AA Status Fails to Cover Prior Pending Appeals

The Allahabad High Court has ruled that a trust cannot apply a Section 12AA registration retrospectively to benefit an earlier tax appeal pending before the tribunal. This legal decision clarifies that fresh charitable status does not automatically resolve historical assessment disputes without specific statutory provisions.

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Taxguru18m ago 1 min
Income Tax

Supreme Court Permits Trust to Withdraw Special Leave Petition Over Exemption Dispute

The Supreme Court has dismissed a Special Leave Petition as withdrawn in a legal dispute involving tax exemptions for trusts under Section 11 and Section 12. This action closes the current judicial challenge without setting a new precedent on the core tax matters.

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Taxguru18m ago 1 min
Global Finance

Indian natural diamond sector projects revenue stabilization at fifteen billion dollars

An industry analysis projects that revenues for India's natural diamond sector will stabilize around fifteen billion dollars rather than experience a full rebound. Domestic consumption is helping offset export sluggishness from the United States and China. Meanwhile, lab-grown diamonds are altering entry-level pricing and market dynamics.

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ET Industry18m ago 1 min
Global Finance

Democrats Flip Congress in Blue Wave Amid 2026 Midterm Elections

Democrats successfully flipped Congress in a blue wave during the second day of the 2026 midterm elections. Live updates indicate major shifts in legislative control following the vote count. International market observers must monitor potential policy shifts stemming from this political outcome.

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CNBC Global19m ago 1 min

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