Supreme Court of India

Naive to say that screen-based trades are anonymous and not synchronised: SC

Securities And Exchange Board Of India Vs. Rakhi Trading Private Ltd. (Supreme Court of India)

The Supreme Court has set aside an order of the Securities Appellate Tribunal (SAT) which held that only if there is market impact on account of sham transactions, could there be violation of the Prohibition of Fraudulent and Unfair Trade Practices Regulations. ...

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SC issues interim directions issued regarding method for selection of ITAT Members

Kudrat Sandhu Vs. UOI (Supreme Court of India)

Appointment of Tribunal Members under new rules: interim directions issued regarding the method for selection of Tribunal Members and their terms and period of appointment...

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Rule 8D of Income Tax Rules is Prospective & cannot be applied to AY prior to 2008-09

Commissioner of Income Tax Vs M/s Essar Telehoding Ltd. (Supreme Court of India)

CIT Vs M/s Essar Telehoding Ltd. (Supreme Court of India) Applying the principles of statutory interpretation for interpreting retrospectivity of a fiscal statute and looking into the nature and purpose of sub­section (2) and sub­section (3) of Section 14A as well as purpose and intent of Rule 8D coupled with the explanatory notes in th...

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Taxability of FOC Supplies made by recipient of service to service provider

Commissioner Of Service Tax Del Vs. M/s. Bhayana Builders (P) Ltd. Etc. (Supreme Court of India)

On issue of Service Tax applicability on free of cost (FOC) supplies by the service recipient of construction service to the service provider (assessee), we are sharing with you a landmark judgement of the Hon’ble Supreme Court, decided in favour of the assessee, in the case of Commissioner of Service Tax Vs. M/s Bhayana Builders (P) Lt...

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SC on Cenvat Credit on GTA service availed for transport of goods from place of removal to buyer’s premises

Commissioner Of Central Excise Vs. Ultra Tech Cement Ltd. (Supreme Court of India)

The core issue involved in the present case is with regard to the admissibility or otherwise of the Cenvat Credit on Goods Transport Agency service availed for transport of goods from the place of removal to buyer’s premises. ...

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Max opp Investment Ltd (SC)- Section 14A – An Analysis

Max opp Investment Ltd. Vs. CIT (Supreme Court of India)

Supreme Court (SC) Ruling - Whether the expenditure incurred (including interest paid on funds borrowed), while purchasing the shares/ stocks of a company for the purpose of gaining control over the investee company or as 'stock-in-trade' (i.e. as a business activity) and not as investment to earn dividends, can be treated as expenditure ...

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Foreign countries Lawyers / Law Firms cannot practice law profession in India: SC

Bar Council Of India Vs. A.K. Balaji And Ors. (Supreme Court)

Lawyers of foreign countries or their law firms cannot practice profession of law in India, Bar Council of India or Union of India are at liberty to make appropriate rules in this regard....

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Sec. 14A – End of controversy relating to strategic investments & stock-in-trade

Max opp Investment Ltd Vs. CIT (Supreme Court of India)

In case of group of companies, normally a company hold shares in various subsidiaries / group companies. The dividend paid by these group companies is exempt in the hands of the parent company under section 10(34) of the Income-tax Act, 1961 (Act). ...

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SC extends last date for linking of Aadhaar in bank A/c, PAN & SIM cards

Justice K.S. Puttaswamy (Retd) & Anr. Vs. Union Of India & Ors. (Supreme Court of India)

The Supreme Court on 13th March 2018 has extended the last date for linking of Aadhaar in bank accounts, PAN cards, SIM cards, etc from 31st march 2018 till the date of the final judgement. As per the Supreme Court's order dated 13th March 2018, the requirement of Aadhaar for opening new bank accounts and applying for Tatkal passports und...

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Foreign law firms/ lawyers cannot practice in India; SC answer 5 Questions

Bar Council Of India Vs. A.K. Balaji And Ors. (Supreme Court)

(i) Whether the expression 'practise the profession of law' includes only litigation practice or non-litigation practice also; (ii) Whether such practice by foreign law firms or foreign lawyers is permissible without fulfilling the requirements of Advocates Act and the Bar Council of India Rules;...

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