Author: Legal Parivar

Supreme Court tax ruling: The Supreme Court of India has dismissed the Revenue’s appeals in the case involving Star Cruises (India) Pvt. Ltd. and Superstar Libra Ltd., holding that cruise operations carried out by the foreign shipping company through its Indian agent qualify for the presumptive taxation regime under Section 44B of the Income Tax Act, 1961. The judgment, bearing 2026 INSC 771, deals with assessment years 2006-07, 2007-08 and 2008-09. The Court examined whether revenue earned from cruise operations could be treated as receipts from the carriage of passengers for the purpose of Section 44B. The Supreme Court upheld…

Supreme Court BPCL HPCL CNG case: The Supreme Court has ruled that Bharat Petroleum Corporation Ltd. (BPCL) and Hindustan Petroleum Corporation Ltd. (HPCL) were acting as commission agents while selling Compressed Natural Gas (CNG) supplied by Mahanagar Gas Ltd. (MGL) through their retail outlets. In a significant ruling concerning the taxability of CNG dispensing arrangements, the Supreme Court set aside the 2014 decision of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) and restored the service tax demands raised against BPCL and HPCL. The judgment was delivered in Commissioner of Service Tax, Mumbai v. M/s Bharat Petroleum Corporation Ltd.…

For generations, Indian households have followed a familiar path when building wealth: buy a house, accumulate gold and jewellery, and keep a significant portion of savings in bank deposits. That pattern is changing. An increasingly large share of household savings is finding its way into mutual funds, equities, insurance products, pension schemes and other financial instruments. The change is not simply about more people opening demat accounts or starting monthly SIPs. It represents a broader transformation in how Indian households think about saving, investing and building wealth. This process, commonly described as financialization of household savings, could have important implications…

Q1 Results FY27: Around 1,700 companies are scheduled to announce their financial results for the quarter ended June 30, 2026, during the week of August 10–14. The earnings season is set to intensify, with major companies across telecom, automobiles, defence, pharmaceuticals, infrastructure, healthcare and consumer sectors due to report their Q1 FY27 results. Among the key companies scheduled to announce their quarterly results are Vodafone Idea, Bharat Forge, Hindustan Aeronautics (HAL), Tata Motors, MRF, Rail Vikas Nigam (RVNL), Gland Pharma, Grasim Industries, Apollo Hospitals and Ashok Leyland. Investors will closely track revenue growth, profitability, margins, order books, operational performance and…

Jharkhand students protest: The agitation by students and job aspirants over alleged irregularities in recruitment examinations entered its 16th day in Ranchi on Sunday, August 9, with Chief Minister Hemant Soren assuring protesting youths that the government would ensure justice and take strict action against those found responsible. The protesters have been staging their agitation at Jaipal Singh Munda Stadium in Ranchi, with several aspirants also observing an indefinite hunger strike. Hemant Soren Assures Protesters of Justice Addressing the Adivasi Mahotsav, Chief Minister Hemant Soren said his government was committed to protecting democracy and ensuring justice for young people protesting…

Delhi Red Fort security: The Delhi Police has put in place an extensive multi-layered security arrangement at and around the Red Fort ahead of the Independence Day celebrations on August 15, 2026. The security plan combines a large deployment of personnel with advanced surveillance technology, including more than 1,000 CCTV cameras, facial recognition systems, number plate recognition and anti-drone technology. 20,000 Security Personnel to Be Deployed According to DCP North Raja Banthia, around 15,000 to 20,000 security personnel from multiple agencies will be deployed at and around the Red Fort. The deployment will include personnel from the Delhi Police Traffic…

Oswal Pumps : Shares of Oswal Pumps are likely to remain in focus after the solar pump manufacturer reported a sharp decline in profitability for the June 2026 quarter, even as its order book and renewable energy pipeline remained strong. The company reported its Q1 FY27 financial results on August 8, 2026, with total income declining 6.5% year-on-year to ₹481.7 crore. EBITDA fell 41.9% to ₹82.5 crore, while profit after tax (PAT) declined 43.1% to ₹53.8 crore. The company attributed the margin pressure primarily to competitive bidding under the Magel Tyala scheme, which resulted in a 9% decline in realisations.…

PNG Jewellers : Shares of P N Gadgil Jewellers could remain in focus after the jewellery retailer announced the launch of the first flagship store of its newly rebranded lightweight diamond jewellery brand YOOU in Pune. The company launched the flagship outlet at Amanora Mall, Hadapsar, Pune, on August 8, 2026. Spread across 1,445 sq ft, the new store is positioned as a contemporary retail destination focused on lightweight diamond jewellery, personalisation and everyday luxury. PNG Jewellers Launches YOOU Flagship Store YOOU is PNG Jewellers’ contemporary lightweight diamond jewellery brand targeting modern consumers looking for versatile jewellery for everyday wear.…

Gland Pharma: Shares of Gland Pharma are likely to remain in focus after the pharmaceutical company announced a strategic Manufacturing and Supply Agreement (MSA) with a leading global pharmaceutical company for the technology transfer, manufacturing and supply of sterile injectable products. Gland Pharma made the announcement through a regulatory filing on August 9, 2026, stating that the partnership will cover a portfolio of oncology and non-oncology injectable products for global markets. The company said the agreement could generate annualised revenue of approximately $90–100 million once all products under the agreement are commercialised. Gland Pharma Signs Strategic CDMO Partnership Under the…

Hindustan Zinc l: Shares of Hindustan Zinc Limited are likely to remain in focus after the company disclosed that a USD 80 million facility agreement linked to its promoter group has been rescinded following repayment of the facilities. In a regulatory filing dated August 9, 2026, Hindustan Zinc said it received an intimation from Vedanta Resources Limited, Vedanta Holdings Mauritius II Limited, Twin Star Holdings Ltd. and Welter Trading Limited on August 7 regarding the rescission of the facility agreement. The facility agreement, dated December 30, 2025, involved facilities aggregating up to USD 80 million. Hindustan Zinc $80 Million Facility:…