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Tata Steel has won a major reprieve in a long-running GST dispute after the Supreme Court quashed a tax demand of ₹890.52 crore, an equivalent penalty and applicable interest against the steelmaker.
Income Tax: 555 crore taka was laundered abroad through the creation of a fake company. The Income Tax raid on the office of a chartered accountant led to the revelation. The Income Tax Department has already filed a complaint of fraud against two Chartered Accountant (CA) brothers and sisters.
The Income Tax Appellate Tribunal (ITAT), Mumbai, has deleted an ₹8.87 lakh addition made under Section 69A of the Income-tax Act after accepting a taxpayer’s explanation that cash found during a search belonged to different members of his family.
The Income Tax Department has made Form 1 available on the e-Filing portal for taxpayers seeking to declare undisclosed foreign assets or foreign-sourced income under the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (FAST-DS 2026).
Tamil Nadu government’s liquor sales arm TASMAC generated revenue of ₹50,845 crore in FY26 for the State government, according to the Home, Prohibition and Excise Department Policy Note for 2026-27
Ministry of Corporate Affairs issued General Circular No. 04/2026 (F. No. Policy-02/02/2020-CL-V-MCA dated 31.08.2026 to provide Extension of Companies Compliance Facilitation Scheme, 2026 (CCFS-2026) up to 15th September, 2026.
Chief Justice of India Surya Kant said for every Rs. 100 laundered, authorities and law enforcement agencies recovered only Re 1, mainly because of the ingenuity of economic offenders, and lack of global cooperation on extraditing fugitives.
Cutting across party lines, legislators in Uttar Pradesh have demanded a waiver on the 18% Goods and Services Tax (GST) currently levied on constituency development funds or Vidhayak Nidhi, arguing that the tax reduces the money actually available for local area development.
The Central Bureau of Investigation (CBI) has registered a case against two income tax officials and a private company partner for demanding and accepting a Rs 9 lakh bribe to evaluate an industrial property in Ambattur.
CEAT wins ₹107 crore GST appeal, says no impact on financials or operations