The Supreme Court held that courts must undertake a meaningful reading of the plaint and reject suits that indirectly seek enforcement of prohibited benami transactions. The ruling strengthens Order VII Rule 11 CPC as a safeguard against sham and legally barred litigation.
Delhi ITAT held that cash deposits during demonetisation cannot be treated as unexplained when supported by prior bank withdrawals. The Tribunal ruled that the Revenue must prove cash was spent elsewhere before invoking Section 69A.
The Supreme Court held that a decree for specific performance does not automatically become unenforceable merely because the purchaser failed to deposit the balance sale consideration within the stipulated time.
The Supreme Court held that insolvency proceedings under the IBC cannot be invoked merely to recover disputed dues arising from contractual transactions.
The Supreme Court held that a collaborator essential to contract execution and bound through a Deed of Joint Undertaking can invoke the arbitration clause despite not being a direct signatory.
The article explains major transitional issues arising from the shift from the Income-tax Act, 1961 to the Income-tax Act, 2025. It highlights CBDT FAQs, Section 536 implications, appeal procedures, notices, search cases, refund adjustments, and compliance changes.
The article explains how audit and accounting systems help maintain financial transparency, accountability, and investor confidence in companies and organizations. It also discusses market volatility, economic risks, and sectoral growth trends influencing businesses in India.
The Pune ITAT held that entire cash deposits in bank accounts cannot automatically be treated as unexplained income when the assessee appears to be only a conduit in an accommodation entry network. The Tribunal restricted the taxable addition to 2% of deposits after finding no evidence of actual enrichment.
Assessee – university challenged an order issued under Section 74(1) of the CGST Act confirming GST demand of Rs.16.90 crores along with equivalent penalty and interest on affiliation fees collected by the University for the period 2017-18 to 2022-23.
The article examines whether income tax, GST, and capital gains taxation are placing excessive pressure on hardworking taxpayers. It highlights concerns about high compliance costs, cash flow issues, and multiple layers of taxation.
