supreme court judgements

Impact of Supreme Court decision on PF wages and its impact

Income Tax - Most of the establishments consider Basic wages and Dearness Allowance for PF contribution by the employee and the employer, since The EPF Act is in force. (more than 65 years.) The Honorable Supreme Court has given a decision on 28-02-2019 about which allowances are to be included in addition to Basic + DA, in PF wages for contributio...

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Bogus Share Premium/Share Capital – Responsibility of Assessee to Prove with Cognet Evidence

Income Tax - Merely because assessee company had filed all primary evidence, it could not be said that onus on assessee to establish credit worthiness of investor companies stood discharged u/s 68 of the Income Tax Act, 1961....

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Private Placement – of Shares or Unaccounted Money ???

Income Tax - Recent Judgement of Hon’ble Supreme Court in case of NRA Iron and Steel Pvt Ltd.- After this judgement, the authorities would get right to question the integrity of every issue or reissue of share capital, especially those by company in which public are not substantially interested because these companies generally issue shares on priva...

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Assessee Company failed to prove genuineness of investor section 68 gets attracted: SC

Income Tax - Assessee company failed to prove genuineness of investor – provisions of section 68 of the Income-tax Act attracted – Supreme Court The Apex court in the case of NRA Iron and Steel Pvt Ltd (SLP 29855 of 2018) held that the assessee company is under a legal obligation to prove the source of receipt of […]...

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Income Tax Tax Updates – December 2018 to February 2019

Income Tax - TAX UPDATES – DECEMBER  2018 NEWS 1. CBDT vide Notification dated 06th December, 2018 notifies the norms for conversion of Branch of Foreign Banks in India into Subsidiary Company. [Notification No. 85/2018/F.No.370133 /34/2016-TPL] 2. CBDT vide Notification 06th December, 2018 further clarifies that no tax deduction at source u/s ...

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Bar Council to Protest Hon’ble SC decision banning Strike /boycott of Court

Income Tax - Hon'ble Apex Court has restrained the Bar Associations/Bar Councils to give a call for strike/boycott/abstention/s of the Court in any event. The Judgment is a direct attack on the fundamental rights of the Lawyers. The meeting is being held to consider the line of action in this regard....

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Accredited Media Persons allowed to carry Mobile Phones Inside SC Courtrooms

Income Tax - It is submitted that Hon'ble the Chief Justice of India vide orders dated 11.05.2018 has been pleased to accede to the request of the accredited Media Persons to allow mobile phones on silent mode inside the Court Rooms. It has been directed that a cellphone creating any disturbance/nuisance inside Court Room will be confiscated by the Co...

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Text of Letter From 4 Senior SC Judges to to Chief Justice of India

Income Tax - It is with great anguish and concern that we have thought it proper to address this letter to you so as to highlight certain judicial orders passed by thin Court which has adversely affected the overall functioning of the justice delivery system and the independence of the High Courts besides impacting the administrative functioning of th...

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An overview of new Automated Listing of Cases Before SC

Income Tax - Fresh admission cases registered from Saturday to Tuesday will be listed on the following Court working Monday or the notified miscellanous day and fresh cases registered from Wednesday to Friday will be listed on next the following Court working Friday or the notified Miscellaneous day, from the date of removal of office objections, if a...

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Highlights of SC Judgement on Aadhar PAN Linkage

Income Tax - Supreme Court of India in its Landmark Judgement has upheld Section 139AA of the Income Tax Act,1961 as constitutionally valid which required quoting of the Aadhaar number in applying for PAN as well as for filing of income tax returns....

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SC Ruling: Effect of dismissal of SLP filed before Supreme Court

Khoday Distilleries Ltd. Vs Sri Mahadeshwara Sahakara Sakkare Karkhane Ltd. (Supreme Court of India) - In the case of Khoday Distilleries Ltd. The SC has explained the judicial effect of the dismissal of a Special Leave Petition, filed under Article 136 of the Indian Constitution....

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RBI’s circular directing bank to take recourse to IBC is ultra vires to section 35AA

Dharani Sugars And Chemicals Ltd. Vs Union of India & Ors. (Supreme Court of India) - Hon'ble Supreme Court held that RBI Circular directing bank to take recourse to Insolvency and Bankruptcy Code (IBC)  is ultra vires to Section 35AA of the Banking Regulation Act....

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Financial assistance for property purchase cannot be sole factor to hold transaction as benami

Smt. P. Leelavathi (D) by LRs Vs V. Shankarnarayana Rao (D) by LRs (Supreme Court of India) - Properties were purchased by the defendant with some financial assistance from his father, however, the same cannot be sole determinative factor to hold the transaction as benami in nature.The plaintiff has miserably failed to establish and prove the intention of the father to purchase properties fo...

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SC refuses to stay HC order Quashing Criminal Proceedings against Chidambaram family

Principal CCIT Vs Nalini Chidambaram - Principal CCIT Vs Nalini Chidambaram (Supreme Court of India) Learned counsel for the petitioners prays for interim stay of the judgment of the High Court on the ground that the said judgment may be acted upon in other similar cases. While, we decline the prayer for stay, as the same would amount to...

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HC cannot dismiss Revenue’s appeal in limine holding that no substantial question of law involved

Pr. CIT Vs Nokia India Pvt. Ltd. (Supreme Court of India) - High Court was not justified in dismissing the appeal on the ground that the appeal did not involve any substantial question of law as it had to decide validity of s. 148 notice, whether notice based on change of opinion, assessed reasons to believe and findings recorded by ITAT on merits whether wa...

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SC revises Format for Index of Case File/ Paper book

F.No.172/Judl./2017 - (02/06/2017) - It it hereby notified for information of the Members of Bar, Parties-in-Person and all concerned that the Competent Authority has directed that henceforth the case file/paper book shall have one common index, having running pagination, as per the format attached herewith....

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SC Guideline for Listing of urgent matters during Vacations

F.No. 169/Judl./2017 - (01/05/2017) - It is hereby notified for the information of all concerned that the following norms/guidelines have been laid down for listing of urgent matters during the ensuing vacation viz. from 11.5.2017 to 2.7.2017 :...

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Advocates only in proper uniform be allowed entry into Court Rooms – SC

NA - (02/12/2014) - On 24.11.2014 an Advocate, wearing Black Gown, Band and Saffron colour long gown entered into the Hon'ble Chief Justice's Court which was viewed seriously. It has been directed that, in future, Advocates only in proper uniform be allowed entry into the Court Rooms....

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‘Stainless steel wire’ is not declared goods under MVAT Provisions

Trade Circular No. 11 T of 2014 - (04/04/2014) - The matter is referred to Government for guidance as to whether the Supreme Court judgement be enforced for transactions effected prior to the date of the Supreme Court judgement i.e 26.4.2011....

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Rape is morally and physically most reprehensible crime in society – SC

NA - (20/05/2013) - Being the most hated crime, rape tantamounts to a serious blow to the supreme honour of a woman, and offends both, her esteem and dignity. It causes psychological and physical harm to the victim, leaving upon her indelible marks....

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Recent Posts in "supreme court judgements"

SC Ruling: Effect of dismissal of SLP filed before Supreme Court

Khoday Distilleries Ltd. Vs Sri Mahadeshwara Sahakara Sakkare Karkhane Ltd. (Supreme Court of India)

In the case of Khoday Distilleries Ltd. The SC has explained the judicial effect of the dismissal of a Special Leave Petition, filed under Article 136 of the Indian Constitution....

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Posted Under: Income Tax |

RBI’s circular directing bank to take recourse to IBC is ultra vires to section 35AA

Dharani Sugars And Chemicals Ltd. Vs Union of India & Ors. (Supreme Court of India)

Hon'ble Supreme Court held that RBI Circular directing bank to take recourse to Insolvency and Bankruptcy Code (IBC)  is ultra vires to Section 35AA of the Banking Regulation Act....

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Financial assistance for property purchase cannot be sole factor to hold transaction as benami

Smt. P. Leelavathi (D) by LRs Vs V. Shankarnarayana Rao (D) by LRs (Supreme Court of India)

Properties were purchased by the defendant with some financial assistance from his father, however, the same cannot be sole determinative factor to hold the transaction as benami in nature.The plaintiff has miserably failed to establish and prove the intention of the father to purchase properties for and on behalf of the family, which wer...

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SC refuses to stay HC order Quashing Criminal Proceedings against Chidambaram family

Principal CCIT Vs Nalini Chidambaram

Principal CCIT Vs Nalini Chidambaram (Supreme Court of India) Learned counsel for the petitioners prays for interim stay of the judgment of the High Court on the ground that the said judgment may be acted upon in other similar cases. While, we decline the prayer for stay, as the same would amount to grant of […]...

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HC cannot dismiss Revenue’s appeal in limine holding that no substantial question of law involved

Pr. CIT Vs Nokia India Pvt. Ltd. (Supreme Court of India)

High Court was not justified in dismissing the appeal on the ground that the appeal did not involve any substantial question of law as it had to decide validity of s. 148 notice, whether notice based on change of opinion, assessed reasons to believe and findings recorded by ITAT on merits whether was legally sustainable. ...

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No limitation on amount of premium that can be charged on Share Capital: SC

PCIT Vs Chain House International (P) Ltd (Supreme Court)

PCIT Vs Chain House International (P) Ltd (Supreme Court of India) In this case Supreme Court upheld the Judgment of Madhya Pradesh High Court. Madhya Pradesh High Court held that The question raised by the revenue in regard to issuing the share at a premium is purely a question of fact. It is a prerogative […]...

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SC explains legal effect of dismissal of a SLP by a speaking/ non-speaking order

Khoday Distilleries Ltd. Vs Sri Mahadeshwara Sahakara Sakkare Karkhane Ltd. (Supreme Court of India)

The doctrine of merger is not a doctrine of universal or unlimited application. It will depend on the nature of jurisdiction exercised by the superior forum and the content or subject-matter of challenge laid or capable of being laid shall be determinative of the applicability of merger. The superior jurisdiction should be capable of reve...

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Turnover tax payable on ‘total turnover’ under section 6B of KST Act

M/s. Achal Industries Vs State of Karnataka (Supreme Court of India)

Except the deductions provided under the first proviso to Section 6B(1) nothing else can be deducted from the total turnover as defined under Section 2(u2) for the purpose of levy of turnover tax under Section 6B of the Act....

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AO can extend time limit for filing auditor’s report even if assessee made no application for extension

CIT Vs Ram Kishan Dass (Supreme Court of India)

Provisions of Section 142(2C) as they stood prior to the amendment which was enacted with effect from 1 April 2008 by the Finance Act, 2008 did not preclude the exercise of jurisdiction and authority by AO to extend time for the submission of the audit report directed under sub-section (2A), without an application by assessee. Thus, AO wh...

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No exempt income, No disallowance u/s 14A & Rule 8D: SC

PCIT Vs M/s Oil Industry Development Board (Supreme Court)

PCIT Tax Vs M/s. Oil Industry Development Board (Supreme Court) Hon’ble supreme court held that in the absence of any exempt income, disallowance under Section 14-A of the Act of any amount was not permissible. FULL TEXT OF THE SUPREME COURT JUDGEMENT Delay condoned. In view of the decision of this Court in Commissioner of Income [...

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