Supreme Court of India

SC dismisses SLP of assessee challenging Section 148A(d) order

Anshul Jain Vs PCIT (Supreme Court)

Anshul Jain Vs PCIT (Supreme Court of India) What is challenged before the High Court was the re-opening notice under Section 148A(d) of the Income Tax Act, 1961. The notices have been issued, after considering the objections raised by the petitioner. If the petitioner has any grievance on merits thereafter, the same has to be […]...

SC Orders cannot be treated as Paper Orders & must be followed in true sprit

Debibrata Chattopadhyay Vs Jharna Ghosh  (Supreme Court of India)

When an order has been passed by SC, it has to be given effect in letter and spirit & it cannot be permitted to be treated as a paper order....

Drawer Liable even if Cheque details were filled up by Someone else

Oriental Bank of Commerce Vs Prabodh Kumar Tewari (Supreme Court of India)

A drawer who signs a cheque and hands it over to the payee, is presumed to be liable unless the drawer adduces evidence to rebut the presumption that the cheque has been issued towards payment of a debt or in discharge of a liability. The presumption arises under Section 139....

SCN cannot be issued after expiry of period to maintain records

Union of India Vs Citi Bank, N. A. (Supreme Court of India)

Union of India Vs Citi Bank, N.A. (Supreme Court) It is a settled proposition of law that when the proceedings are required to be initiated within a particular period provided under the Statute, the same are required to be initiated within the said period. However, where no such period has been provided in the Statute, […]...

NCLAT cannot suo moto conduct judicial review of decision of NCLT and change mode of sale of assets

R.K. Industries (Unit-II) LLP Vs H.R. Commercials Private Limited and Other (Supreme Court)

Held that once the Liquidator applies to NCLT, to adopt particular mode of sale of movable and immovable assets of the Corporate Debtor, which is approved by NCLT, there is no provision in the IBC that empowers NCLAT to suo motu conduct a judicial review of the said decision....

No Relief in case of violation of section 12A of Commercial Courts Act

Patil Automation Private Limited Vs Rakheja Engineers Private Limited (Supreme Court of India)

Held that Section 12A of the Commercial Courts Act, 2015 is mandatory and hold that any suit instituted violating the mandate of Section 12A must be visited with rejection of the plaint under Order VII Rule 11....

IBC, 2016 would prevail over Customs Act, 1962: SC

Sundaresh Bhatt, Liquidator of ABG Shipyard Vs Central Board of Indirect Taxes and Customs (Supreme Court)

SC held that IBC would prevail over Customs Act, and once moratorium is imposed in terms of sections 14 or 33(5) of Code, the customs authority only has a limited jurisdiction to assess/determine quantum of customs duty and other levies....

Courts should avoid uploading scanned copies of judgments: SC

State Bank of India Vs Ajay Kumar Sood (Supreme Court of India)

State Bank of India Vs Ajay Kumar Sood (Supreme Court of India) SC held that On the note of accessibility, the importance of making judgments accessible to persons from all sections of society, especially persons with disability needs emphasis. All judicial institutions must ensure that the judgments and orders being published by them do ...

Bad debt not allowable if not satisfies ingredients of Section 36(1)(vii) & Section 36(2)

PCIT Vs Khyati Realtors Pvt. Ltd. (Supreme Court of India)

PCIT Vs Khyati Realtors Pvt. Ltd. (Supreme Court) Conclusion: Assessee was not entitled to claim deduction of bad debt as the case did not satisfy the ingredients of both Section 36(1)(vii) and Section 36(2) and also advance written off was not allowable as business expenditure u/s 37(1). Held: Assessee carried on real estate development ...

Provisions of Benami Act to be implemented prospectively: SC

Union of India & Anr. Vs. M/S. Ganpati Dealcom Pvt. Ltd. (Supreme Court)

Section 3(2) of the unamended 1988 Act is declared as unconstitutional for being manifestly arbitrary. Accordingly, Section 3(2) of the 2016 Act is also unconstitutional as it is violative of Article 20(1) of the Constitution....

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