High Court and held that the position in law was that the debt ‘due and payable’, when falls within the four corners of clause (a) to Section 530(1) of the Companies Act, would be treated as preferential payment, but it would not override and be given preference over the payments of overriding preferential creditors covered under Section 529A of the Companies Act.
Analysis of Supreme Court’s ruling on SLP in the case of Vishwanath Traders vs Union of India, addressing non-exercise of alternative remedies by the assessee.
Supreme Court review in Commissioner of CGST v. Flemingo Travel Retail reevaluates VAT exemption on duty-free shops at airports, allowing the appeal for further consideration.
In present facts of the case, the Hon’ble Supreme Court while restoring the award of Arbitral Tribunal observed that it is well-settled that courts ought not to interfere with the arbitral award in a casual and cavalier manner.
Supreme Court held that exemption from excise duty given to intravenous fluids is available to products manufactured for treatment of veterinary disease if products falls under the category of intravenous fluids.
Supreme Court held that while setting aside the order of Settlement Commission, High Court could have remanded the matter to the Settlement Commission for re-consideration and re-determination of undisclosed income. It is unjust to set aside the order of Settlement Commission without re-determination of undisclosed income.
Supreme Court held that the court is powerless to modify award and can only set aside partially, or wholly, an award. Accordingly, High Court has no reason to interfere with the arbitrator’s finding on interest accrued and payable.
Understand Supreme Court’s verdict on taxing surplus funds and FD interest income of clubs. Analysis of mutuality principle and its implications. Learn more.
In present facts of the case, the Hon’ble Apex Court while allowing the appeal have observed that the report of a surveyor appointed by the insurance company may be considered as evidence while settling a claim, more evidence on record could be used to rebut the contents of the same.
V. Senthil Balaji Vs State Represented By Deputy Director And Ors (Supreme Court Judgment) In the case of V. Senthil Balaji vs. State Represented By Deputy Director and Others, the Supreme Court of India provided a detailed interpretation and analysis of various legal provisions related to the arrest, custody, and investigation of individuals under the […]
