OpenAI to face digital news firms of Ambani, Adani in copyright battle, ET LegalWorld
Digital news units of Indian billionaires Gautam Adani and Mukesh Ambani, and other outlets like the Indian Express and the Hindustan Times, have mounted a legal challenge against OpenAI alleging it improperly used copyright content, legal papers show. The media outlets including Adani’s NDTV and Ambani’s Network18 have told a New Delhi court they want […]
Some equity research firms shutting shops after Sebi’s new guidelines on research analysts, ET LegalWorld
Markets regulator Sebi’s new guidelines on research analysts (RAs) are forcing several equity research firms publicly announcing plans to shut down their shops due to heightened compliance and operational requirements. The Securities and Exchange Board of India (Sebi), on January 8, came out with guidelines for Research Analysts in a bid to curb fraudulent stock […]
SC stays GST notices worth over Rs 1 lakh crore against online gaming firms for tax fraud, ET LegalWorld
The Supreme Court on Friday stayed showcause notices issued by GST authorities worth over Rs 1 lakh crore to online gaming companies and casinos over alleged tax evasion. A bench of Justices J B Pardiwala and R Mahadevan said the matters required hearing and all proceedings against the gaming companies should remain stayed in the […]
Supreme Court to hear gaming firms’ challenge to 28% GST rule, ET LegalWorld
The Supreme Court will hear on Friday a clutch of petitions by online gaming companies and casinos seeking stay on proceedings related to tax notices issued by the Directorate General of GST Intelligence (DGGI) since 2023. The gaming firms have challenged the government’s decision to retrospectively impose 28% goods and services tax (GST) on the […]
Kirloskar firms challenge SEBI letter asking disclosure of family settlement deed at SAT, ET LegalWorld
Four Kirloskar companies on Saturday said they have filed an appeal before the Securities Appellate Tribunal challenging the SEBI letter asking them to disclose the deed of family settlement that was signed by members of the Kirloskar family on September 11, 2009. In a joint statement, the Kirloskar companies — Kirloskar Ferrous Industries Ltd (KFIL), […]
SC disposes plea seeking direction to oil firms to divert CSR funds towards public transport, ET LegalWorld
The Supreme Court has disposed of a Public Interest Litigation (PIL) seeking directions to public and private sector oil companies to divert part of their Corporate Social Responsibility (CSR) funds towards improving public transport services in Delhi and other polluted cities. However, a Bench headed by Justice B.V. Nagarathna granted liberty to the PIL litigant […]
GST officers detect Rs 35,132 cr ITC evasion by over 17,000 fake firms, ET LegalWorld
GST officers have detected cases of ITC evasion of Rs 35,132 crore by 17,818 fake firms between April-October and arrested 69 persons, Parliament was informed on Monday. In a written reply to the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said regular action is taken to detect fake firms through data analytics and […]
SC grants telecom firms right to claim tax credits on infrastructure duties, ET LegalWorld
In a major development for the telecom industry, the Supreme Court today ruled in favor of telecom companies, affirming their entitlement to claim credit for duties paid on parts such as tower components and green shelters. This decision overturns a previous judgment by the Bombay High Court, which had classified these items as non-capital goods, […]
HC refuses to quash second FIR against firm’s MD, directors, ET LegalWorld
The Delhi High Court has refused to quash a cheating and forgery case against the directors and former directors of a private company, saying the investigation is at a nascent stage. The court rejected the plea of the accused, including Managing Director of KJS Cement (I) Ltd Pawan Kumar Ahluwalia, seeking to quash the second […]
Tax officers detect Rs 25K cr GST evasion by 18,000 bogus firms, ET LegalWorld
Tax officers have detected about 18,000 fake companies registered under GST which have been involved in tax evasion of about Rs 25,000 crore, an official said. In the recently concluded all-India drive against fake companies, GST officers had identified 73,000 companies which they suspected of being set up only to avail of input tax credit […]