Supreme Court of India

No writ should be filed if same issue is already pending before CIT(A)

Shri Saibaba Sansthan Trust (Shirdi) Vs Union of India & Ors. (Supreme Court)

The issue pertaining to the taxability of anonymous donations received in Hundies maintained by the temple trust under Section 115BBC of Income Tax Act, 1961 is pending determination before the Commissioner of Income Tax (Appeals) for Assessment Year 2015-16....

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Production of Books not Relevant in Cheque Bounce Cases | Section 138 | NI Act

D. K. Chandel Vs Wockhardt Ltd. & Anr. (Supreme Court)

D. K. Chandel Vs Wockhardt Ltd. & Anr. (Supreme Court) The Supreme Court has observed that the production of the account books/cash book may not be relevant in a criminal case filed under Section 138 of the Negotiable Instruments Act. As held by the Trial Court as well as by the High Court that the […]...

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Landlord not precluded from making application for determination of fair rent during currency of contractual tenancy: SC

N. Motilal & Ors. Vs Faisal Bin Ali & Anr. (Supreme Court)

N. Motilal & Ors. Vs. Faisal Bin Ali (Supreme Court) The moot question to be answered in this appeal is as to whether during currency of contractual tenancy i.e. during the currency of agreed rent between the landlord and the tenant whether landlord is precluded from making an application for determination of fair rent. Section [&hell...

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Company qualifies for Section 80­IA deduction on Conversion from Partnership

CIT Vs Chetak Enterprises Pvt. Ltd. (Supreme Court)

CIT Vs Chetak Enterprises Pvt. Ltd. (Supreme Court) It is manifest that all properties, movable and immovable (including actionable claims) belonging to or vested in a company at the date of its registration would vest in the company as incorporated under the Act. In other words, the property acquired by a promoter can be claimed [&hellip...

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Section 12AA registration cannot be denied merely for lack of activities by trust before application: SC

Ananda Social and Educational Trust Vs CIT & Anr. (Supreme Court)

In the given case, the object of the provision in question is to ensure that the activities undertaken by the Trust are not contrary to its objects and that a Commissioner is entitled to refuse registration if the activities are found contrary to the objects of the Trust...

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Section 153C Requirement should be fulfilled by AO before initiating proceedings

Super Malls Private Limited Vs PCIT (Supreme Court)

In the given case, the issue under consideration is whether there is a compliance of the provisions of Section 153C of the Act by the Assessing Officer and all the conditions which are required to be fulfilled before initiating the proceedings under Section 153C of the Act have been satisfied or not?...

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Adjudicating authority must look-into issue of fraudulent initiation of proceedings under IBC: SC

Beacon Trusteeship Limited Vs Earthcon Infracon Private Limited & Anr. (Supreme Court)

Considering the provision of Section 65 of the IBC, it is necessary for the Adjudicating Authority in case such an allegation is raised to go into the same. In case, such an objection is raised or application is filed before the Adjudicating Authority, obviously, it has to be dealt with in accordance with law....

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DRAT cannot entertain an Appeal under SARFAESI Act without Pre- deposit

Union Bank of India Vs Rajat Infrastructure Pvt. Ltd. & Ors. (Supreme Court)

The issue under consideration is whether the High Court was right in directing that pre-­deposit was not required for entertaining an appeal before the DRAT as mandated by Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short SARFAESI Act)....

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New trust entitled for Section 12AA registration despite no activity: SC

Anand Social and Educational Trust Vs CIT & Anr. (Supreme Court)

Anand Social and Educational Trust Vs CIT & Anr. (Supreme Court) Whether a newly formed trust is entitled for registration under Section 12AA of the Income Tax Act, 1961 even if any activity has not been undertaken as yet? In brief, section 12AA of the Act empowers the Principal Commissioner or the Commissioner of the […]...

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SC lifts Ban Imposed by RBI on Cryptocurrency (Read Judgment)

Internet And Mobile Association of India Vs RBI (Supreme Court of India)

Internet And Mobile Association of India Vs RBI (Supreme Court of India) We cannot lose sight of three important aspects namely, (i) that RBI has not so far found, in the past 5 years or more, the activities of VC exchanges to have actually impacted adversely, the way the entities regulated by RBI function (ii) […]...

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