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392 stories
Income Tax

Delayed Income Tax Returns Fail to Prove Earnings Before Mishap, Rules High Court

The Allahabad High Court held that income tax returns filed two years after an accident cannot establish pre-accident income without independent supporting proof. The ruling affects personal injury compensation claims where claimants rely on belated tax filings. Legal experts and practitioners must ensure robust contemporaneous documentation for accident victims.

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Taxscan16m ago 1 min
Markets

Whirlpool India Reports Thirty-Nine Percent Net Profit Decline Amid Margin Pressures in Second Quarter

Whirlpool of India posted a thirty-nine percent drop in net profit for the second quarter as operating margins faced severe pressure. The financial results reflect challenging demand conditions and rising operational headwinds for the major home appliance manufacturer. Investors and market analysts must evaluate the impact of shrinking profitability on future stock valuations.

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CNBC TV1816m ago 1 min
Income Tax

High Court Rules Post-Accident Income Tax Filings Inadequate for Establishing Prior Earnings

The Allahabad High Court determined that income tax returns submitted two years after an accident fail to substantiate pre-accident earnings without supportive proof. The decision sets a precedent for motor accident compensation claims requiring verifiable financial history. Practitioners must rely on contemporaneous evidence rather than belated statutory paperwork.

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Taxscan17m ago 1 min
Crypto & CBDC

Exploring the Role of Self-Regulatory Organizations in Enhancing Oversight of Virtual Digital Assets

Establishing Self-Regulatory Organizations (SROs) can significantly enhance regulatory oversight of Virtual Digital Assets (VDAs) in India. Industry-led frameworks offer proactive compliance mechanisms alongside government regulations to protect market participants. Stakeholders must examine the structural benefits of SRO integration for digital asset ecosystems.

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Pioneer Edge19m ago 1 min
Business

Tenneco Clean Air India Seeks Acquisitions to Expand Beyond Automotive Industry into Railways and Defense

Tenneco Clean Air India is exploring mergers and acquisitions to diversify beyond the automotive sector into railways, aerospace, and defense. CEO Arvind Chandra stated that the debt-free company possesses adequate cash reserves to fund substantial transactions. Leadership is targeting enterprises featuring strong technology, healthy margins, and growth opportunities within India.

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ET Industry20m ago 1 min
Business

Mumbai Authorities Prohibit Sale and Use of Sky Rockets Until November Twenty-Fifth

The civic administration in Mumbai has banned sky rockets within city limits until November twenty-fifth. The restriction aims to maintain public safety and prevent fire hazards during celebrations. Residents and local merchants must comply with the temporary regulatory directive.

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Economic Times20m ago 1 min
Markets Breaking

HSBC upgrades India to overweight while Citi lifts Nifty target to twenty eight thousand

HSBC upgraded India to overweight from neutral while downgrades hit China, as Citi raised its Nifty target to twenty eight thousand. Market analysts emphasize strong economic growth, lower oil prices, and slower artificial intelligence development as key market drivers. Investors should review portfolio allocations in light of these prominent brokerage adjustments.

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LinkedIn22m ago 1 min
Business

European Railway Technology Set for Integration into Bengaluru Suburban Transit Infrastructure

Advanced European railway technology is being introduced to upgrade suburban transit tracks in Bengaluru. The modernization initiative aims to enhance commuter efficiency, safety, and network capacity. Local stakeholders anticipate significant improvements in urban rail operations.

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Economic Times20m ago 1 min
Markets

Nvidia Stock Slides Six Percent Following Investigation Into Chief Executive Officer

Nvidia shares declined nearly six percent in pre-market trading after company directors initiated a probe into chief executive officer Jensen Huang. The investigation follows allegations concerning a personal relationship with an individual suspected by American authorities of espionage for China.

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LiveMint Markets31m ago 1 min
Fintech & UPI

Banks to reinvest Unified Payments Interface earnings into technology and security

Financial institutions plan to channel their Unified Payments Interface earnings back into digital infrastructure, security enhancements, and business expansion. This strategy aims to support rising transaction volumes and fortify systems against potential risks.

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Business Standard37m ago 1 min
Markets

Google Parent Company Plans Three Billion Dollar Bond Offering Across Asian Financial Hubs

Alphabet is preparing to raise three billion dollars through a bond sale in Hong Kong and Singapore. This financial move occurs as investors scrutinize technology companies for high artificial intelligence spending while global borrowing costs increase. The conglomerate aims to tap alternative markets for capital during this period.

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LiveMint Markets42m ago 1 min
GST

Allahabad High Court voids tax notice sent to RedBus following merger with MakeMyTrip

The Allahabad High Court cancelled a tax notice addressed to RedBus because the entity had already merged with MakeMyTrip. The court ruled that tax notices must be issued to the surviving amalgamated company since previous registrations end when a merger takes effect.

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Taxscan45m ago 1 min

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