Courts do not have the power to modify any award decided by the Arbitrator under Sections 34 and 37 of Arbitration and Reconciliation Act, 1996 – Supreme Court
Power of RBI to withhold remittance to be made under Automatic route to Wholly owned Subsidiary cannot be used to reject the remittance on whimsical and arbitrary reasons.
The Madras High Court rules that IBC proceedings cannot affect the rights of the Income Tax Department to reopen assessments.
Find out why delaying the adjudication of Show Cause Notices for 13 years is not just, proper, or legal. Learn more about this legal issue in our blog post.
Whether services provided are man power services or job work services so as to be exempted under the relevant notifications issued under Finance Act, 1994.
NCLT held that if a Guarantor pays the debt on behalf of the Principal Borrower, then it steps into the shoes of the Creditor and can initiate Corporate Insolvency Resolution Process (CIRP) again the principal borrower.
Saurashtra Chemicals Ltd. Vs. National Insurance Co. Ltd (Supreme Court) BRIEF FACTS: 1. The appellant purchased a standard fire and special perils policy from the respondent National Insurance Company Ltd. thereby insuring the risk of loss/damage to the stock of coal and lignite stored in its factory compound. 2. An additional premium was paid by […]
As you are aware that Capital Gain Tax is charged on transfer of Capital Assets under provisions of Section 45 to 55A of the Income Tax Act, 1961. The main ingredients of Capital Gain Tax are ; 1. There should be a Capital Assets means property of any kind held by an assessee whether or […]
SC held that The period of limitation shall be governed by the Act and not by Section 44A of the CPC, since the latter provides only for the procedure to be followed for executing a foreign decree
SC held that In Case Of Specific Risks, such as those arising from loss due to fire etc. , the Insured Cannot profit and take advantage by double Insurance.
