Supreme Court of India

Supreme Court judgement has to be dealt by High Court with due respect: SC

Ramachandra Barathi @ Sathish Sharma V.K. & Ors. Vs State of Telangana (Supreme Court of India)

Supreme Court held that when the High Court deals with judgments of this Court, which are binding on everyone under Article 141 of the Constitution of India, it is expected that the judgments have to be dealt with due respect....

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Amount payable towards compounding of offence u/s 137 of Customs Act, 1962 reduced

Chen Hsui Yun Vs Directorate of Revenue Intelligence (Supreme Court of India)

Supreme Court of India granted reduction of amount towards compounding of offence under section 137 of the Customs Act, 1962 as the impugned foreign currency is already confiscated in the matter....

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SC stays reassessment proceedings against Radha Soami Satsang Beas

Radha Soami Satsang Beas vs. National Faceless Assessment Centre (Supreme Court)

SC issued notice and stayed proceedings initiated against Radha Soami Satsang Beas on an appeal challenging judgment of Punjab and Haryana HC...

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In case of change of AO, newly appointed AO shall continue proceeding from stage where they were left by earlier AO

DCIT Vs Mastech Technologies Pvt. Ltd. (Supreme Court of India)

SC held that in case of transfer of Assessing Officer, the new AO can only continue proceeding from the stage at which earlier AO had left....

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Credit in Partners Capital account on revaluation of fixed asset taxable: SC

CIT Vs Mansukh Dyeing and Printing Mills (Supreme Court of India)

CIT Vs Mansukh Dyeing and Printing Mills (Supreme Court) Whether amount credited on account of revaluation of fixed assets and credited to the partners’ account is liable to be taxed u/s 45(4) of the Income-tax Act,1961? The department has made a major win today in the above case when the Supreme Court held that upon […]...

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Standard of Pre-Existing Dispute under IBC is not Equivalent to Principle of ‘Preponderance of Probability’

Rajratan Babulal Agarwal Vs Solartex India Pvt. Ltd. (Supreme Court of India)

Pre-existing dispute under IBC must be employed cannot be equated with even principle of preponderance of probability which guides a civil court at the stage of finally decreeing a suit....

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Breach of condition of notification cannot be said to be a dispute with respect to valuation

Commissioner of Central Excise Customs And Service Tax Mysore Vs Such Silk International Ltd. (Supreme Court of India)

Commissioner of Central Excise Customs And Service Tax Mysore Vs Such Silk International Ltd. (Supreme Court of India) High Court has dismissed the appeal filed by the Department under Section 130 of the Customs Act as not maintainable by observing that as the dispute can be said to be a dispute with respect to valuation […]...

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TDS not deductible on NCDs & FDR of value less than Rs. 5000: SC

CIT (TDS) Vs Jai Prakash Associates Ltd (Supreme Court of India)

SC held that that on non-convertible debentures and fixed deposit of the value less than Rs.5,000/-, there shall not be any TDS leviable....

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Diversion of imported gold to Domestic Market instead of Export- SC Grants bail to accused

Sanjay Agarwal Vs Directorate of Enforcement (Supreme Court of India)

It is alleged that rather than exporting gold jewellery in terms of the obligation, the jewellery was diverted in the domestic market and in the process the offences were committed by the appellant....

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Real income cannot be determined based on only income tax returns in matrimonial conflict

Kiran Tomar Vs State of Uttar Pradesh (Supreme Court of India)

Supreme Court of India held that income tax returns do not necessarily furnish an accurate guide of the real income particularly when parties are engaged in a matrimonial conflict. Hence, it is for the Family Court to determine what would be the real income based on a holistic assessment....

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