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Crypto & CBDC

Enforcement Directorate investigates CoinDCX and Delta Exchange regarding alleged illegal overseas cryptocurrency transactions

Financial investigators have initiated a formal inquiry into two prominent digital asset platforms, CoinDCX and Delta Exchange. The probe centers on suspicions surrounding unauthorized foreign cryptocurrency transactions handled by these entities. Authorities are examining potential regulatory infractions linked to cross-border digital token flows.

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NDTV Profit42m ago 1 min
Commodities

Precious metals drop sharply following robust United States employment reports affecting Federal Reserve rate expectations

Bullion prices declined sharply on Friday as stronger-than-expected United States employment reports fueled expectations of a Federal Reserve interest rate hike in December. Gold fell by ₹1,700 to reach ₹1,42,930 per 10 grams, while silver dropped 1.26% to settle at ₹1,84,800 per kilogram. Despite this sudden daily drop, both precious metals remained positioned to break their multi-week losing streaks.

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LiveMint Markets1h ago 1 min
Crypto & CBDC

Indian authorities investigate CoinDCX and Delta Exchange over suspected unauthorized offshore cryptocurrency transactions

Indian investigative authorities have launched a formal inquiry into cryptocurrency exchanges CoinDCX and Delta Exchange. The probe investigates allegations of unauthorized offshore crypto trading activities amounting to thousands of crores of rupees. Officials are reviewing financial flows to determine compliance with domestic financial regulations.

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Coinpedia1h ago 1 min
RBI/SEBI Govt Breaking

Non-banking finance companies record over fifty percent credit growth in gold jewellery and consumer durables during September

Reserve Bank of India data shows that non-banking finance companies experienced significant credit expansion across gold jewellery and consumer durable sectors in September 2026. Gold jewellery financing surged by 66.1 per cent to reach Rs 3.74 lakh crore, while consumer durable credit rose by 54.4 per cent to Rs 77,896 crore. Total credit growth across all non-banking finance companies stood at 15.4 per cent, aggregating to Rs 61.69 lakh crore.

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ET Industry1h ago 1 min
Income Tax Govt

Surat tax tribunal rules that interest paid on borrowed capital is deductible against taxable interest income under specific provisions

The Surat bench of the Income Tax Appellate Tribunal has ruled on the applicability of Section 57(iii) regarding deductions on interest income. The tribunal affirmed that interest paid on borrowed funds qualifies for deduction against taxable interest earnings. This decision clarifies tax treatment for taxpayers utilizing borrowed capital to earn interest revenue.

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Taxguru1h ago 1 min
Income Tax

Gujarat High Court Rules Co-operative Society Can Claim Deduction on Bank Interest

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.

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Taxguru1h ago 1 min
GST

Madras High Court Restricts Customs From Forwarding Manual Shipping Bill Refunds to GST Department

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.

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Taxguru1h ago 1 min
Income Tax Govt

ITAT Indore Rules Recorded Cash Sales Cannot Face Double Taxation Under Section 68

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.

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Taxguru1h ago 1 min
GST

Allahabad High Court Quashes GST Cancellation Due to Omitted Officer Details in Notice

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.

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Taxguru1h ago 1 min
Economy Breaking

Nifty 50 Falls 3.24 Percent in Samvat 2082 Amid Volatility and Global Pressures

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.

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LiveMint Markets1h ago 1 min 2
GST

GSTAT Agra Rules Discount Entries in GSTR-9C Cannot Alone Support GST Tax Demands

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.

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Taxguru1h ago 1 min
Income Tax Govt

ITAT Delhi Cancels Reassessment After Finding Section 148 Notice Was Issued Too Late

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.

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Taxguru1h ago 1 min

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