BUSINESS JUDGMENT RULE
SC rejects finance ministry’s plea against input tax credits for commercial rentals
The Supreme Court has dismissed the finance ministry's plea to review its October judgement, which allowed real estate companies to claim input tax credits (ITC) on construction costs for commercial buildings meant for renting.
Digitally safe & sound
Karnataka High Court's ruling on the PhonePe case highlights the need to balance user privacy with national security concerns in the digital age. While privacy is a fundamental right, it's not absolute and must be proportionate to legitimate state interests. India's approach to data protection will shape civil liberties and its economic future, requiring clear frameworks and robust oversight.
Supreme Court allows 10% GST appeal pre-deposit via credit ledger in major relief for businesses
The Supreme Court has supported a ruling regarding Goods and Services Tax law. Companies can now use Electronic Credit Ledger for mandatory pre-deposits. This decision helps businesses facing cash flow issues during disputes. Yasho Industries had challenged the rejection of credit ledger payment. The High Court ruled in favour of Yasho Industries.
GST is applicable on joint development of properties in this condition, rules Patna High Court; buyers must check this
The Patna High Court has ruled that GST is applicable on RCM basis on the transfer of development rights from a landowner to a builder before the completion certificate (CC) is issued under a joint development agreement. This decision means builders must pay GST on the apartment units given to the landowner, potentially increasing costs for landowners. Read below to know more.
In Tesla's wake, more big companies propose voting "Dexit" to depart Delaware
Several public companies, including Tesla and Trump Media, are leaving Delaware due to concerns over stricter legal standards and shareholder lawsuits, with some reincorporating in states like Texas and Nevada that offer more director protection. This "Dexit" trend, driven by influential shareholders, prompts Delaware to adjust its corporate laws to retain businesses, though its dominance in corporate charters remains significant.
ETMarkets PMS Talk: Growth, margin expansion, and valuation - the 3 pillars behind Purnartha’s stock selection
All our equity funds have delivered strong performance over the one-year time frame, while our concentrated schemes have also outperformed over the two-year period. This consistent performance is primarily attributed to our strict adherence to core investment philosophies and timely decision-making.
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'Equities are no longer optional': Qode’s Rishabh Nahar on navigating market uncertainty with quant strategy
Nahar believes the key to navigating such volatility lies in quantitative investing, but with a first-principles approach. He says, "Quant investing isn’t about secret algorithms. People often think of quant investing as a black box spitting out multibagger stocks.
After Bharti Airtel's demand experts call for checks in equity conversion of statutory dues
After the government decided to convert Vodafone Idea's spectrum dues worth Rs 36,950 crore into equity, the government received a similar request from Bharti Airtel - to convert its entire over ?41,000 crore AGR dues into equity. Airtel's demand came as a surprise as so far, the telco was not inclined to give equity to the government, given its strong financial health in contrast to Vodafone Idea, which ran out of options and was forced to give up its stake to survive.
Google, X next targets as Europe stays tough on tech regulation
The Digital Markets Act (DMA) sets out a list of dos and don'ts for tech giants to make it easier for people to move between competing online services like social media platforms, internet browsers and app stores and for smaller rivals to compete.
Meta CEO Mark Zuckerberg wraps up testimony in antitrust case
The FTC contends Meta has used a monopoly in its technology that facilitates connecting with friends and family to generate enormous profits as consumer satisfaction has dropped. The case could force the tech giant to break off Instagram and WhatsApp, startups it bought more than a decade ago that have since grown into social media powerhouses.
Meta CEO Zuckerberg considered spinning off Instagram in 2018 over antitrust worries, email says
Meta CEO Mark Zuckerberg once considered spinning off Instagram due to concerns over potential antitrust action, according to a 2018 email revealed during a federal antitrust trial. The trial, led by the Federal Trade Commission (FTC), accuses Meta of illegally monopolizing the social media market by acquiring Instagram and WhatsApp to eliminate competition.
Meta faces historic antitrust trial that could force it to break off Instagram, WhatsApp
The looming antitrust trial will be the first big test of President Donald Trump's Federal Trade Commission's ability to challenge Big Tech. The lawsuit was filed against Meta - then called Facebook - in 2020, during Trump's first term. It claims the company bought Instagram and WhatsApp to squash competition and establish an illegal monopoly in the social media market.
Too early to impress? Atlanta employer rejects candidate for arriving 25 minutes early to interview
An Atlanta-based employer turned down a job applicant for arriving 25 minutes early to an interview, calling it a red flag for poor time management and social awareness. The incident, shared on LinkedIn by business owner Matthew Prewett, has sparked debate online over what counts as proper interview etiquette. While Prewett said the early arrival made him feel rushed and uncomfortable, many online users sided with the candidate, suggesting that being early is better than being late.
Taxmen defy 'clean slate' rule, hit insolvent firms with fresh demands
Despite the IBC's 'clean slate' provision and court rulings, tax authorities are levying fresh tax demands on companies emerging from insolvency, trapping resolution applicants in legal battles. Tata Steel and B&B Global Enterprises are among those facing tax claims related to pre-acquisition liabilities. Experts are calling for the tax department to clarify its stance and ensure consistent processes.
EU prepares major penalties against Elon Musk's X
EU regulators plan major penalties against Elon Musk's X for violating the Digital Services Act, potentially exceeding $1 billion. The fines target X's failure to control disinformation and user content. This marks the first enforcement under the law, amid rising US-EU tensions over tech regulations and trade.
Is Britain on the cusp of another multibillion-pound consumer finance scandal?
The UK Supreme Court is set to hear arguments that could lead to significant legal costs and customer compensation for the financial industry due to unlawful commission payments to motor dealers. Major banks have already allocated over 1.5 billion pounds for potential claims, with a worst-case scenario industry cost estimated at 30 billion pounds.
Revision of GST returns to be allowed even after deadline in these cases, rules SC
Goods and Services Tax (GST): The Supreme Court of India directed the Central Board of Indirect Taxes and Customs (CBIC) to allow a seller to revise his GSTR-1 return after the deadline was over. This revision is necessary so that the error committed by the seller can be fixed. Due to this error the buyer was denied his input tax credit. Read below to know why the SC made such an order.
Is Britain on the cusp of another multibillion-pound consumer finance scandal?
The UK Supreme Court will consider overturning a judgment that could lead to substantial legal costs and customer compensation for Britain's financial industry. This revolves around lenders paying undisclosed commissions to car dealers, with key decisions expected on the lenders' liability and appropriate consumer remedies.
SC backs businesses' right to fix GST filing errors, asks CBIC to revise timelines
The Supreme Court has directed the CBITC to re-examine the GST filing correction timelines, emphasizing that clerical errors should be fixable to prevent undue burden on businesses. This ruling reinforces the principle that tax compliance should be practical. Experts hail the decision as a significant relief for businesses facing ITC issues due to minor errors.
UK's Thames Water debt lifeline to proceed after appeals dismissed
Thames Water has secured its 3 billion pound debt lifeline after the Court of Appeal dismissed two appeals against it, allowing the company to avoid immediate state rescue. The funds will support its operations and debt restructuring until May 2026, while attempts are made to raise new equity.
As Tesla tanks, Musk’s chosen board chair stands strong as a badass woman in business world
Elon Musk faces criticism over right-wing causes and cuts to the U.S. federal workforce, affecting Tesla's sales and stock. Robyn Denholm, Tesla's highly paid chair, faces scrutiny over her compensation and oversight of Musk. Despite recent stock declines, Denholm has profited immensely from Tesla shares, raising concerns about her independence and focus amid her growing ventures in Australia.
GST exemption on leasehold rights to help boost industrial realty leasing growth
A Gujarat High Court ruling exempts goods and services tax on assignment of leasehold rights for industrial plots developed by GIDC, reducing the tax burden on businesses and real estate developers, and potentially boosting investment in the industrial and commercial leasing market in India.
Billionaire Hinduja family agrees truce in legal battle
The Court of Appeal in London largely rejected an appeal over restrictions on reporting the dispute, which was contested in a specialist court in a case which centred on the health of 86-year-old patriarch Srichand Hinduja.
From 1,095 days to 306: Govt data shows quicker disposal of commercial disputes
The rule of maximum three adjournments is being actively enforced in more than 50 per cent of cases of dedicated commercial courts of Delhi, Mumbai, Kolkata and Bengaluru.
Congress asks Manipur Governer to ensure proper trust vote, says previous vote not bona fide
Eight Congress MLAS had defied the whip and absented themselves from the assembly and six of them resigned as MLAS later. Congress had a total of 24 MLAs.
Don’t Witch Hunt Bankers: Corruption Act must be amended, else decision making will be frozen
Principle of a justice system is that even if a thousand guilty go scot free, not one innocent should be punished inadvertently.
CBI Banks on former PM Lal Bahadur Shastri, 1988 SC verdict
To stress the importance of its continued existence, the CBI will point out to SC that there are over 10,000 CBI cases under trial in various courts.
Supreme Court ruling on international arbitration order a relief for PE firms
SC ruling will end the practice of losing companies creating legal hurdles through international arbitration order that is adverse.
The ripple effects of the cancellation of 2G licences could spread throughout the economy
The Supreme Court's cancellation last week of all 122 telecom licences issued in 2008 by ex-telecom minister Andimuthu Raja has evoked several strong responses.
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