Everything a finance person must know - re-brewed every 10 minutes
The Supreme Court has held that initiating a second criminal complaint based on identical facts is not maintainable unless exceptional grounds exist. This ruling protects defendants from multiple proceedings regarding the same underlying situation. Finance professionals and legal teams must monitor this precedent for dispute management.
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Tesla chief Elon Musk stated that the company will halt Cybertruck production at its Texas facility next year. The vehicle developed a niche consumer base due to its polarizing aesthetic, though it failed to reach mass-market adoption and faced multiple voluntary recalls.
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The Bombay High Court held that taxpayer transactions with controlled associated enterprises cannot serve as valid comparables to determine the arm's length price under transfer pricing rules. This judgment clarifies that cross-border pricing evaluations must rely strictly on independent third-party market data.
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The Supreme Court declined to interfere with a judicial decision holding that controlled transactions cannot establish the arm's length price for tax assessments. This ruling impacts how transfer pricing adjustments are evaluated in cross-border and related-party commercial dealings. Finance professionals must review active litigation strategies in light of this judicial stance.
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The Madras High Court quashed a tax reassessment proceeding because authorities initiated it after the expiration of the statutory six-year limitation period. This judgment provides clear relief to taxpayers facing delayed tax reopening notices under legacy state tax statutes. Finance professionals should verify limitation timelines before responding to historical assessment notices.
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Nasdaq futures staged a recovery after artificial intelligence shares rebounded from intense selling pressure. This sharp market downturn pushed the three major indices to their poorest trading session since April 2025.
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The Directorate General of Foreign Trade invited fresh applications from eligible importers to allocate import quotas for certain goods under the India-United Kingdom Free Trade Agreement. This process occurs as authorities wrap up quota allocations for United Kingdom-origin auto imports. Importers dealing in these specified categories must submit their applications within the designated regulatory framework.
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The Supreme Court has set aside a previous Gujarat High Court order after the arbitrator in question chose to withdraw from the ongoing proceedings. This development resolves the dispute surrounding the composition of the arbitral tribunal without a formal adjudication on the merits. Legal practitioners must note how voluntary exits impact pending appellate challenges.
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The Gujarat High Court held that a nominated arbitrator's previous judicial role does not automatically disqualify them from serving. This judgment provides essential clarity on arbitrator appointments and eligibility standards for legal professionals in dispute resolution proceedings.
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The Income Tax Appellate Tribunal in Mumbai ruled that the University of Mumbai qualifies for tax exemption under Section 10(23C)(iiiab) of the Income Tax Act. The ruling was issued because government funding accounted for 50.76 percent of its financial backing.
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Obayashi is expanding its footprint in India's infrastructure sector by leveraging its global engineering capabilities and sustainable building methods. The firm aims to support large-scale development projects through advanced construction techniques and environmental standards.
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The National Stock Exchange and Bombay Stock Exchange will host a special Muhurat trading session on Sunday, November 8, 2026, from 2:20 pm to 3:30 pm, preceded by a pre-open session at 2:05 pm. Markets will remain closed on November 10 for Diwali-Balipratipada.
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