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Economy

Tamil Nadu Forms High-Level Investment Promotion Commission Led By Chief Secretary

Tamil Nadu has established an Investment Promotion Commission headed by the Chief Secretary to convert investment commitments into operational projects. The initiative aims to accelerate project implementation, commercial operations, and employment creation within predictable timelines.

Effective Not specified in the update

For professionals: Professionals advising corporate clients in the region should monitor upcoming procedural guidelines and operational frameworks issued by the Investment Promotion Commission. · Advise clients to maintain updated documentation for capital expenditure in Tamil Nadu as the new centralized structure monitors large-scale project progress.

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Hindu BusinessLine19m ago 1 min
Business

Government plans Rs 9,000 crore asset monetisation in FY28 for telecom dues

The central administration is planning an asset monetisation drive to raise Rs 9,000 crore in the next financial year to address telecom liabilities. Officials state that state-run telecom companies face liabilities nearing Rs 50,000 crore. Several properties have also been sorted for ownership clarity.

Effective Next financial year

For professionals: Monitor upcoming developments regarding the Rs 9,000 crore asset monetisation plan aimed at restructuring MTNL and BSNL balance sheets. · Advise clients on the shift from direct budgetary allocations and debt guarantees to targeted asset monetisation for tackling state-run telecom liabilities standing at nearly Rs 50,000 crore. · Review the impact of commercial leasing, outright sales, or infrastructure investment trusts used to unlock economic value of sorted properties with ownership clarity.

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ET Industry37m ago 1 min
Economy

Hindalco Industries Records Highest Ever Revenue and Profit During Second Quarter of Financial Year 2027

Hindalco Industries Limited posted unprecedented financial numbers for the second quarter of the fiscal year 2027. The Aditya Birla Group flagship metals company achieved this growth through strong operational performance. Professionals can review these record-breaking figures to assess the broader metals sector momentum.

Effective Not specified in the update

For professionals: Examine the underlying segment disclosures and tax provisions within the financial statements of Hindalco Industries Limited for Q2 FY27. · Evaluate manufacturing supply chain strength and industrial consumption using these performance metrics. · Monitor upcoming quarterly disclosures to verify sustainable margin expansion.

Scrips: Hindalco

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Taxguru38m ago 1 min
CA Corner

Institute of Chartered Accountants of India Establishes New Junagadh Branch

The Institute of Chartered Accountants of India has officially notified a new local office situated in Junagadh. Operating under the Western India Regional Council, this facility will be designated as the Junagadh Branch. Its official headquarters are established within the city of Junagadh.

Effective Not specified in the update

For professionals: Update official correspondence records to reflect the new Junagadh Branch headquarters address for all future local filings and inquiries. · Streamline institutional interactions and reduce travel times by utilizing the newly established local office under the Western India Regional Council network. · Monitor upcoming council communications for further operational instructions related to the newly formed administrative unit.

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Taxscan40m ago 1 min
Income Tax Govt

Income Tax Appellate Tribunal Cancels Rs 3.99 Lakh Penalty Due to Notice Flaw

An income tax penalty amounting to Rs 3.99 lakh under Section 270A was successfully struck down by the tribunal. The tax authorities had accepted the taxpayer's declared income but still levied the fine. The deletion occurred because the initial penalty notice omitted the precise charge regarding misreporting income.

Effective Not specified in the update

For professionals: Tax professionals and practitioners should meticulously review all penalty notices to ensure the exact charge of misreporting income is specified · This ruling reinforces that tax authorities must explicitly state the precise limb of the statute being invoked to protect taxpayers from ambiguous penal notices even when primary income disclosures are accepted · The Income Tax Appellate Tribunal struck down a financial penalty amounting to Rs 3.99 lakh originally levied under Section 270A because the official notice suffered from a critical legal defect

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Taxscan40m ago 1 min
Economy

BMW Industries reports a 43 percent rise in second quarter net profit

BMW Industries Limited posted a net profit of Rs 21.62 crore for the quarter ending September 30, marking a 42.7 percent year-on-year increase. The company experienced a 33 percent surge in total income and a 25 percent growth in EBITDA compared to the same period last fiscal year. Additionally, its new greenfield downstream steel complex in Bokaro has officially started operations.

Effective Not specified in the update

For professionals: BMW Industries Limited reported its financial results for the quarter ending on September 30. · Net profit rose by 42.7 percent year-over-year to Rs 21.62 crore alongside a 33 percent surge in total income and a 25 percent rise in EBITDA compared to the previous fiscal year. · The newly established greenfield downstream steel complex in Bokaro commenced operations with strategic plans focused on maximizing capacity utilization.

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ET Markets40m ago 1 min
Income Tax

Tax assessment involving cash deposits quashed due to natural justice breach

An income tax assessment involving a cash deposit of Rs 14.55 lakh was quashed due to a violation of natural justice. The ruling highlights procedural lapses in handling tax evaluations. Further specifics regarding the judicial forum and parties involved are not stated in the report.

Effective Not specified in the update

For professionals: Assessments can be successfully challenged when tax authorities violate procedural fairness and fail to provide adequate opportunity to be heard. · Tax professionals should closely examine assessment orders for procedural flaws and lack of proper opportunity to be heard when representing clients. · Specific details regarding the court or tribunal, exact sections invoked, and identities of involved parties are not stated in the source text.

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Taxguru45m ago 1 min
Markets

Hindustan Construction Company reports lower September quarter net profit at Rs 22 crore

Hindustan Construction Company posted a 53 percent drop in consolidated net profit to Rs 22 crore for the September quarter of fiscal year 2027. Both revenue and expenses decreased compared to the previous year, while the firm secured a Rs 524 crore order and pursued several project bids. Construction also advanced on ongoing assignments such as the Indore and Patna Metro.

Effective Not specified in the update

For professionals: Hindustan Construction Company reported a consolidated net profit of Rs 22 crore for the September quarter of fiscal year 2027, representing a 53 percent contraction. Professionals should note the decline in both total income and operational expenses relative to the corresponding period of the previous year. Stakeholders evaluate these quarterly outcomes to gauge the underlying health of order execution schedules and balance sheet stability.

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ET Markets50m ago 1 min
Business

Instamart and Blinkit provide discounts on 24 gold coins

Quick commerce platforms Instamart and Blinkit are currently offering discounts on 24-karat gold coins. The two delivery applications provide this promotional pricing directly to retail buyers on their platforms. Further details regarding specific discount rates or coin weights were not stated.

Effective Not specified in the update

For professionals: Advise clients purchasing precious metals via digital aggregators to verify hallmarking certifications, purity certificates, and invoice documentation. · Ensure strict adherence to regulatory compliance regarding Know Your Customer (KYC) norms for high-value transactions conducted through digital platforms.

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Economic Times55m ago 1 min
Income Tax Govt

Agra Income Tax Appellate Tribunal Removes Rs 9.80 Lakh Cash Addition

The Agra branch of the Income Tax Appellate Tribunal has deleted a cash addition amounting to Rs 9.80 lakh. This disputed amount was tied to the demonetisation period. The ruling provides relief regarding cash deposits made during that specific timeframe.

Effective Not specified in the update

For professionals: The Agra bench of the Income Tax Appellate Tribunal deleted a disputed income tax addition amounting to ₹9.80 lakhs related to demonetisation cash deposits. · Professionals should ensure taxpayers present adequate documentation, ledger accounts, and explanations to substantiate the source of cash deposits made during high-value currency replacement periods. · The ruling reinforces that tax authorities must properly evaluate the evidentiary record supplied by the assessee rather than treating demonetisation era cash lodgements as undisclosed income without justification.

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Taxguru1h ago 1 min
Business

Higher Device Costs and Longer Replacement Cycles Drive Consumers to Delay Smartphone Purchases

Indian consumers are increasingly holding back on upgrading their mobile devices as replacement cycles extend. Market factors and economic considerations are shifting buying patterns across the country.

Effective Not specified in the update

For professionals: Monitor upcoming quarterly earnings reports and consumer spending metrics to gauge the sustained impact on retail segments. · Keep a close watch on manufacturer disclosures for updated volume figures and sales trends.

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ET Industry1h ago 1 min
Markets

Titan Stock Jumps Three Percent Following Doubled Second Quarter Net Profit

Titan shares climbed more than three percent during Dhanteras 2026 following a greater than twofold surge in net profit to two thousand three hundred ninety-three crore rupees for the second quarter of fiscal year twenty-seven. Operating revenue expanded by twenty-three point fifty-four percent to reach twenty thousand three hundred thirty-seven crore rupees, driven by robust demand for studded jewellery items.

Effective Not specified in the update

For professionals: Financial professionals must analyze the second quarter of fiscal year twenty-seven financial results featuring a net profit exceeding two thousand three hundred ninety-three crore rupees. · Advisors need to evaluate the impact of raw material price fluctuations and changing consumer preferences for precious metals on investment portfolios. · Professionals should review market activity surrounding reports of Noel Tata departing from the board of directors.

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LiveMint Markets1h ago 1 min

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