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The Madras High Court dismissed revenue department appeals regarding depreciation claims on internal roads. It ruled that such infrastructure falls under the building category, allowing a ten percent depreciation rate. Tax authorities had challenged this classification before the court.
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Wall Street main indexes opened lower on Tuesday following higher-than-expected October inflation data. The hot consumer price report threatened to halt a two-day rebound in technology shares. This fresh economic print revived selling pressure across major US stock markets.
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Unified Payments Interface transaction volume jumped thirty-two percent on Diwali to hit 916.9 million transactions. The payment network experienced heavy usage during the festive holiday shopping period. This milestone highlights the rapid expansion of digital retail payments across the country.
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India's rice procurement dropped by nineteen lakh tonnes in October due to poor market arrivals. Buying activity declined significantly in Haryana and Tamil Nadu. Meanwhile, purchase volumes in Punjab remained nearly on par with previous levels.
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The Mumbai bench of the Income Tax Appellate Tribunal restricted Section 14A disallowances to investments that yield exempt income. The ruling protects taxpayers from blanket expense disallowances on non-yielding assets. Tax authorities had previously sought broader disallowance calculations.
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Anthropic kicked off its US initial public offering roadshow, seeking to raise up to $64.4 billion by offering 825 million shares. The latest valuation stands at roughly $1.4 trillion, representing a drop from earlier estimations of $2 trillion. Alphabet and Microsoft are set to invest $26 billion in a private placement.
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The government issued a notification on November 4 operationalising key provisions of the Act, including self-declaration, pre-establishment approvals, and protection from routine inspections. The move sparked debates regarding environmental safeguards. Authorities implemented the operational framework to streamline compliance.
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Consumer prices rose 0.4% in October, exceeding expectations and complicating the Federal Reserve's inflation fight. The economic report arrived at a critical juncture as central bankers evaluate their upcoming interest rate strategy. Market observers are closely analyzing the data for future monetary policy clues.
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Republican Representative Thomas Massie has launched an impeachment effort against Pete Hegseth. This political development follows a blue-wave midterm election and comes after previous clashes between Massie and President Donald Trump. Meanwhile, Hegseth has rejected the impeachment push and defended his management of the Iran conflict.
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The ITAT Delhi has ruled against a domestic transfer pricing adjustment. This judicial decision follows the omission of section 92BA(i). The ruling provides important clarity on tax compliance and transfer pricing regulations for corporate entities.
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United States inflation figures for October exceeded expectations as consumer prices climbed by 0.4% over the month. This upward movement in prices was primarily driven by increases in shelter, food, and energy expenses. The data highlights ongoing cost pressures within the American economy.
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Economists suggest that easing global headwinds and declining crude oil prices could provide further upward momentum to the Indian rupee in the coming months. These favorable macroeconomic factors are expected to improve domestic currency stability. The outlook highlights positive external sector dynamics for India.
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