News

GST authorities have withdrawn the entire tax proceedings against Rane Holdings’ subsidiary, quashing the Rs 11.88 crore demand, including a penalty of Rs 1.07 crore.

Rane Holdings Subsidiary Gets Relief as GST Authorities Withdraw Rs 11.88 Crore Demand

The MCA has reminded companies to file Form PAS-6 for the half-year ended September 30, 2026, by November 29, 2026, on the MCA V3 Portal, failing which additional fees and penalties may apply.

MCA Reminds Companies of November 29 Deadline to File PAS-6 for September 2026 Half-Year

Judgement

The ITAT held that a 1% gross profit disallowance under Section 37 was justified since the corresponding sales remained undisputed.

ITAT Restricts Bogus Purchase Disallowance to 1%, Slashes Addition from Rs 50.95 Lakh to Rs 50,950

The ITAT deleted the Rs 53.76 lakh addition made on additional compensation for compulsory acquisition of agricultural land, holding the amount exempt from tax.

ITAT Deletes Rs 53.76 Lakh Addition, Holds Additional Compensation for Compulsory Acquisition of Agricultural Land Tax-Exempt

The Madras HC has upheld Mahindra Holidays & Resorts' revenue deferral accounting methodology for AY 2006-07 and 2007-08, resulting in a Rs 106 crore reduction in the company's contingent liability.

Madras HC Upholds Mahindra Holidays’ Revenue Deferral Methodology, Cuts Contingent Liability by Rs 106 Crore

A Bengaluru-based fintech firm has reported a Rs 31.43 crore cyber fraud involving 301 unauthorised debit transactions from its escrow account, with the funds allegedly transferred to 127 beneficiary bank accounts.

Bengaluru Fintech Firm Reports Rs 31.43 Crore Cyber Fraud Involving 301 Unauthorised Transactions

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