Clipped from: https://www.business-standard.com/industry/news/labour-reforms-by-states-have-limited-potential-defeat-purpose-experts-125052301572_1.html At least 20 states and UTs have amended their laws and increased the threshold for retrenchment without government approval from 100 to 300
Category: Legal
***Addition not sustained as source of funds for purchasing crypto currency explained
Clipped from: https://taxguru.in/income-tax/addition-sustained-source-funds-purchasing-crypto-currency-explained.html Primit Shambhuprasad Purani Vs ITO (Gujarat High Court) Gujarat High Court held that reopening of assessment under section 148 of the Income Tax
*******section 54 exemption: Selling two homes? New tax ruling says you can still save on capital gains | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/selling-two-homes-new-tax-ruling-says-you-can-still-save-on-capital-gains-125051900886_1.html A recent ITAT ruling offers tax relief for those selling two homes and reinvesting in one, easing capital gain worries, especially for joint
*****Courting reform: Newly appointed CJI B R Gavai must address case pendency
lipped from: https://www.business-standard.com/opinion/editorial/courting-reform-newly-appointed-cji-b-r-gavai-must-address-case-pendency-125051401727_1.html Justice Gavai has been part of several seminal apex court judgments – among them, upholding the revocation of Jammu & Kashmir’s special status,
*******Electronic Evidence: Sections 65B & 63 of Evidence Act Not Applicable to Tax Proceedings
Clipped from: https://taxguru.in/income-tax/electronic-evidence-sections-65b-63-evidence-act-applicable-tax-proceedings.html ACIT Vs Vetrivel Minerals (VV Minerals) (Madras High Court) Admissibility of Electronic Evidence in Income Tax Proceedings: Inapplicability of Section 65B of the Indian Evidence
Govt steps up vigil as cyberattacks rise since Pahalgam terror attack
Clipped from: https://www.business-standard.com/industry/news/govt-steps-up-vigil-as-cyberattacks-rise-since-pahalgam-terror-attack-125050701493_1.html Tells Cert-in, banks, power stations to be on high alert Banks have also stepped up their vigil and response practice in anticipation of
*******SC Dismisses Reassessment Case for Non-Compliance with Section 148A
Clipped from: https://taxguru.in/income-tax/sc-dismisses-reassessment-case-non-compliance-section-148a.html ITO Vs R.K. Build Creations Private Limited (Supreme Court of India) The Supreme Court of India has dismissed a Special Leave Petition filed
*****NCLT, NCLAT can’t review PMLA decision: Supreme Court in BPSL case | Company News – Business Standard
Clipped from: https://www.business-standard.com/companies/news/sc-bpsl-case-nclt-nclat-have-no-power-over-pmla-authority-125050500690_1.html The Supreme Court has ruled that NCLT and NCLAT lack judicial review power over statutory decisions under the PMLA in the Bhushan Power
Govt weighing next move after SC’s JSW-BPSL order: DFS Secretary M Nagaraju | Company News – Business Standard
Clipped from: https://www.business-standard.com/companies/news/govt-reviews-sc-order-on-bhushan-steel-idbi-sale-to-conclude-2025-125050500787_1.html The DFS is assessing the Supreme Court’s Bhushan Steel ruling with lenders and may chart next steps soon; IDBI Bank’s 61 per cent
JSW Steel set for a long-drawn battle as SC upholds ED attachment of Bhushan Power assets – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/companies/jsw-steel-set-for-a-long-drawn-battle-as-sc-upholds-ed-attachment-of-bhushan-power-assets/article69540941.ece Apex court ruled that the National Company Law Appellate Tribunal has no jurisdiction to adjudicate on the Prevention of Money Laundering Act and
Govt reviews SC judgment quashing JSW Steel’s ₹19,700 crore acquisition of Bhushan Power and Steel – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/govt-reviews-sc-judgment-quashing-jsw-steels-19700-crore-acquisition-of-bhushan-power-and-steel/article69540444.ece “We are studying the judgment and the possible course of action. We will finalise our next step after discussing with our senior government
With JSW Steel-Bhushan deal scrapped banks may have to take a hit to their balance sheets – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/companies/with-jsw-steel-bhushan-deal-scrapped-banks-may-have-to-take-a-hit-to-their-balance-sheets/article69541856.ece Banks would rather seek RBI permission to dip into their reserves to pay the acquirer than allow their profit & loss (P&L) to
JSW Steel may seek legal recourse against SC’s rejection of Bhushan Power & Steel acquisition – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/jsw-steel-may-seek-legal-recourse-against-scs-rejection-of-bhushan-power-steel-acquisition/article69541593.ece Bhushan accounts for over 12 per cent of JSW Steel’s annual production of 34 million tonnes per annum (mtpa) Apex court held that
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