Supreme Court

Mahindra Satyam today said it has received a provisional attachment order from the Income Tax Department attaching land and buildings of the company. The company had received a provisional attachment order dated January 30, 2012, from the Additional Commissioner of Income Tax (ACIT), Central Range -- 3, Hyderabad attaching land and buildings of the company, it said in a filing to the BSE. Full Article

The income tax department may not go in for filing a review petition on the Supreme Court's judgement on the Vodafone taxation case. Top sources in the department said that a 10-member 'core committee', which has been specially constituted, will go into the details of the order. But the department may take a view not to file a review petition against the order which was delivered by a three-member Supreme Court bench headed by Chief Justice S H Kapadia on Friday, the sou.. Full Article

Government went into a huddle following a far-reaching Supreme Court judgement in the Vodafone case having revenue implications of about Rs 11,000 crore.Immediately after pronouncement of the SC ruling, Finance Minister Pranab Mukherjee and Law Minister Salman Khurshid held consultations on the issue. Cabinet Secretary Ajit Kumar Seth too called on the Finance Minister. Full Article

In a 2.5 billion dollar sigh of relief for Vodafone, and for other companies eyeing assets in India, the Supreme Court has ruled in favour of Vodafone. The court has said that the Indian tax department cannot tax the transaction that saw Vodafone acquire 67 per cent stake in Hutchison Essar, a mobile phone operator in India in 2007. The deal was for 55,000 crores or $11.5 billion. Full Article

RPFC Vs. The Hooghly Mills Co. Ltd. & Ors.(SC) - .The question which falls for consideration before this Court in this case is whether the employer of an establishment which is an ‘exempted establishment’ under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (hereinafter, ‘the Act’ ) is subject to the provisions of Section 14B of the said Act whereby in cases of default in the payment of contribution to the provident fund, proceedings fo.. Full Article

The Supreme Court will on Friday pronounce its judgement on Vodafone International Holdings' appeal challenging the income tax demand of Rs 11,000 crore on the overseas deal between Vodafone and Hutchison. Vodafone had moved the apex court challenging the Bombay High Court judgement of September 8, 2010 which had held that Indian IT department had jurisdiction over the deal. Full Article

M/s. Essel Propack Ltd. Vs. Commissioner of Central Excise, Mumbai-III - (Supreme Court) - The Commissioner has not recorded any clear finding as to whether for the tubes that were cleared by the appellant during the relevant periods in respect of which show cause notices were issued, the caps were supplied free of cost by the customers of the appellant and such caps were fitted to the tubes manufactured in the factory of the appellant. As we have already held, in respec.. Full Article

The Supreme Court Friday granted bail to erstwhile Satyam Computers Services Ltd founder-chairman B. Ramalinga Raju, his brother B. Rama Raju and staffer V. Srinivas.  An apex court bench of Justice Dalveer Bhandari and Justice Dipak Misra said from the facts of the case and considering the totality of the circumstances, it was appropriate to [...] Full Article