Access significant and up-to-date high court judgments for legal insights and precedent. Stay informed about the latest legal decisions and their impact on various areas of law.
Corporate Law : Allahabad High Court ruled that unlawful police custody directly infringes fundamental right to life and liberty under Article 21....
Corporate Law : The Court examined whether a predicate FIR is necessary before the ED can act under the PMLA. It held that inquiry proceedings and...
Goods and Services Tax : The Rajasthan High Court examined whether GST registration could be refused due to non-filing of returns in another State. It held...
Corporate Law : The High Court held that a company cannot shift its registered office after approval of a resolution plan when appeals against the...
Corporate Law : The Allahabad High Court held that allegations arising from private land transactions and cheating claims did not satisfy the requ...
Corporate Law : The Supreme Court upheld joint insolvency proceedings against two interconnected real estate companies due to common management an...
Corporate Law : Supreme Court ruled that CoC and RP can surrender financially burdensome assets voluntarily, clarifying moratorium under section 1...
Income Tax : Gujarat HC has directed CBDT to ensure that there is a mandatory one-month gap between date for furnishing tax audit reports (unde...
Income Tax : Rajasthan High Court granted a one-month extension for filing TARs under Section 44AB for AY 2025-26, citing delayed audit utility...
Income Tax : The Gujarat High Court is hearing a petition from the Chartered Accountants Association regarding persistent glitches on the new I...
Goods and Services Tax : The Court observed that the documents produced indicated a sale of immovable property, which is not subject to GST. The matter was...
Goods and Services Tax : The Madras High Court remitted Section 74A GST orders for fresh adjudication after taxpayers argued that their replies to DRC-01 n...
Corporate Law : High Court upheld conviction under Section 138 NI Act, holding that contradictory defence evidence failed to rebut statutory presu...
Goods and Services Tax : The Madras High Court held that GST authorities cannot issue a single show cause notice covering multiple financial years. The Cou...
Income Tax : The Madras High Court held that filing an appeal before the Commissioner of Income-tax (Appeals) under Section 246A does not requi...
Income Tax : The Court held that membership cannot be granted where the underlying flats do not exist and are merely refuge areas. It ruled tha...
Corporate Law : Bombay High Court implements "Rules for Video Conferencing 2022" for all courts in Maharashtra, Goa, and union territories, effect...
Income Tax : CBDT raises monetary limits for tax appeals: Rs. 60 lakh for ITAT, Rs. 2 crore for High Court, and Rs. 5 crore for Supreme Court, ...
Corporate Law : The Delhi High Court mandates new video conferencing protocols to enhance transparency and accessibility in court proceedings. Rea...
Income Tax : Income Tax Department Issues Instructions for Assessing Officers after Adverse Observations of Hon. Allahabad High Court in in Civ...
CIT Vs. Hero Cycles Ltd. (Punjab & Haryana High Court) Disallowance under Section 14A requires finding of incurring of expenditure where it is found that for earning exempted income no expenditure has been incurred, disallowance under Section 14A cannot stand.
The assessee earned dividend income on shares which was exempt from tax. The AO took the view that the investment in shares was made out of borrowed funds on which interest expenditure was incurred and consequently made a disallowance u/s 14A. This was partly upheld by the CIT (A). On further appeal by the assessee, the Tribunal deleted the disallowance by noting that the assessee had proved that the investment in shares was made out of non-interest bearing funds.
It is repeatedly held by the Courts that the penalty on the ground of concealment of particulars or non-disclosure of full particulars can be levied only when in the accounts/return an item has been suppressed dishonestly or the item has been claimed fraudulently or a bogus claim has been made. When the facts are clearly disclosed in the return of income,
The Full Bench was constituted to consider whether for the purposes of allowing deduction under Ch. VI-A depreciation could be thrust on the assessee even though it had disclaimed the same for purposes of regular assessment. The assessee argued that as in accordance with Mahendra Mills 243 ITR 56 (SC), depreciation was optional and as Expl. 5 to s. 32 came into force only from AY 2002-2003, depreciation could not be thrust even for purposes of Ch. VI-A. HELD, deciding against the assessee:
Even if it is accepted that by a transfer of shares u/s 2(47), there is a transfer in the right to use the capital assets of the company, still s. 170 is not attracted because there is no “transfer of business”. A company is a juristic person and owns the business. The share holders are not the owners of the company. By a transfer of the shares, there is no transfer so far as the company is concerned.
The Assessing officer initiated proceedings for alleged violation of section 269SS of the Act in as much as the assessee accepted share application money being Rs.20,000/- in cash. Thereafter, penalty was imposed. On appeal, CIT(A) upheld the stand of the assessee that the amount received
The CLB cannot exercise its inherent powers to pass orders without jurisdiction or in utter disregard to orders passed by the Supreme Court or the High Court; an interim order passed by the CLB without jurisdiction and without giving reasons and in utter disregard to the orders passed by the Supreme Court and the High Court cannot be sustained.
As regards the issue raised with regard to rejecting the method in the change of valuation of closing stock, we find that the finding arrived at by the three authorities below that the change in the valuation of closing stock was not bona fide is a pure finding of fact and no question of law arises much less a substantial question of law.
We do not find any error in the approach of the authorities below. Merely because the interest was debited in the books of accounts maintained on mercantile basis would not mean that the interest had become due and accrued because admittedly the interest liability would become due not during the relevant previous year but only for the first time on 18.11.1996.
In a ruling that might make settlement of a disputed will easier, the Delhi high court on Friday admitted video recording of a will as legally admissible evidence.
