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The Dow Industrials recorded their strongest single-day performance since April 2025 by climbing 3%. This strong market movement followed a decisive congressional sweep by Democrats alongside declining oil prices.
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The Telangana High Court has quashed a cancellation order regarding a Goods and Services Tax registration. The matter has been sent back for a fresh review and consideration.
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The Mumbai bench of the Customs, Excise and Service Tax Appellate Tribunal quashed a duty demand. The tribunal based its decision on the fact that the relevant export assessments had already attained finality.
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Power Finance Corporation has cleared a second interim dividend payout of ₹4.10 per share for financial year 2027. This Maharatna public sector undertaking has grown its dividend by 200% over five years, pushing shares up 5% across three days.
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The Karnataka High Court nullified the termination of a taxpayer's GST registration. The action was overturned because authorities failed to issue a proper notice regarding an alleged violation concerning bank account information under Rule 10A of the CGST Rules. Chartered accountants and tax practitioners must ensure all procedural show-cause requirements are strictly followed by authorities.
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The Jodhpur Income Tax Appellate Tribunal deleted a tax addition worth ₹15.39 crore. The addition was originally made under Section 69C of the Income Tax Act concerning loan repayments.
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The Delhi High Court dismissed an ad hoc eight percent estimation of unexplained cash transactions previously upheld by the Income Tax Appellate Tribunal. The court ruled that tax additions cannot be sustained without concrete corroborative evidence or proper judicial reasoning. Tax practitioners should use this ruling to contest arbitrary estimations during assessment proceedings.
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An analysis explores whether India can reduce its heavy reliance on specialty fertilisers imported from China. The article examines domestic manufacturing challenges and agricultural input security.
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The Mumbai bench of the Income Tax Appellate Tribunal held that eligible corporate social responsibility donations qualify for deductions under Section 80G. The tribunal ruled that the statutory bar preventing such expenses from being claimed as business deductions does not block charitable deductions. Companies can claim these benefits if they meet all specified criteria.
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India’s Indian Computer Emergency Response Team issued a cybersecurity alert regarding artificial intelligence assisted cyberattacks targeting cryptocurrency exchanges. The agency highlighted how sophisticated threat actors leverage advanced technologies to bypass existing defense mechanisms. Digital asset platforms must reinforce their security infrastructure to protect user funds and data.
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The Gujarat High Court ruled that accounting irregularities committed by mutual fund entities cannot serve as the sole legal basis to reopen an individual investor's tax assessment. The court emphasized that tax authorities must establish independent escapement of income tied directly to the assessee. This protects investors from reassessment notices triggered by third-party errors.
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The Jodhpur bench of the Income Tax Appellate Tribunal quashed a reassessment proceeding concerning a two lakh rupee political donation, ruling it time-barred. The tribunal held that tax authorities initiated the action beyond the permissible statutory timeframe. This decision provides relief to taxpayers facing delayed scrutiny over historical donations.
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