Everything a finance person must know - re-brewed every 10 minutes
The Gujarat High Court has determined that Section 80P(4) does not prevent an investing society from claiming a tax deduction on interest earned from a co-operative bank. This ruling clarifies tax rules for co-operative societies earning investment returns. Financial professionals must review past assessments to ensure correct deduction claims.
Open for the full story →
The Income Tax Appellate Tribunal in Indore has ruled that cash sales already entered in account books cannot be taxed again under Section 68. The tribunal also sent back a ₹10 lakh gift dispute for fresh review. Taxpayers can use this ruling to challenge inappropriate double taxation by tax authorities.
Open for the full story →
The Madras High Court has ruled that Customs authorities cannot refer manual shipping bill Integrated Goods and Services Tax refunds to the GST department. This decision prevents administrative delays for exporters seeking tax refunds on overseas shipments. Exporters should reference this judgment to expedite pending refund applications.
Open for the full story →
The Allahabad High Court has cancelled a Goods and Services Tax registration revocation because the initial notice omitted the issuing officer's name and office details. This judgment reinforces strict adherence to procedural fairness in tax administration. Affected taxpayers can challenge cancellation orders issued through incomplete or defective notices.
Open for the full story →
Indian equities faced volatility during Samvat 2082 due to geopolitical tensions, oil price swings, and inflation worries. A late rally pushed the Nifty 50 up over 10 percent in seven sessions, yet the index remains set to finish the year down about 3.24 percent. Investors continue to monitor these market movements as festive trading concludes.
Open for the full story →
The Goods and Services Tax Appellate Tribunal in Agra has ruled that discount entries in GSTR-9C cannot serve as the sole basis for an output tax demand. Tax authorities must conduct a deeper investigation instead of relying solely on reconciliation statements. Businesses can contest arbitrary tax liabilities generated from reconciliation discrepancies.
Open for the full story →
The Income Tax Appellate Tribunal in Delhi has ruled that reassessment proceedings fail if the underlying Section 148 notice violates the limitation period specified in Section 149. This decision upholds statutory time limits for reopening past tax assessments. Taxpayers can challenge reassessment notices issued beyond the permissible timeframe.
Open for the full story →
The Gujarat High Court has ruled that interest earned from investments made in co-operative banks qualifies for tax deductions under Section 80P(2)(d) of the Income Tax Act. This decision clarifies the tax treatment of surplus funds parked by co-operative societies in banking institutions.
Open for the full story →
Indian occasionwear and ethnic brand Frontier Raas opened a new retail store in Ahmedabad on November 1, 2026. Actor Kangana Ranaut attended the launch event as the chief guest alongside prominent business figures and community members. This opening forms part of the brand's ongoing retail network expansion.
Open for the full story →
The Karnataka High Court has held that disputed tax classifications regarding employee stock options cannot be resolved during condonation proceedings. The court determined that substantive tax disputes require regular assessment channels rather than summary delay-condonation hearings.
Open for the full story →
OpenAI will maintain its financial commitment to artificial intelligence data centers regardless of recent election outcomes, according to the company's chief financial officer. The leadership team confirmed that infrastructure expansion remains a core operational priority for the technology firm.
Open for the full story →
Exam success metrics for entry-level chartered accountant assessments show a sharp decline following a curriculum shift. Success percentages dropped from 29.7% under legacy structures to 18.1% under current guidelines. Candidates evaluating professional paths must review 20 distinct sets of findings.
Open for the full story →
One place for all of finance - tap any card to jump in.