supreme court judgements

Summary of Orders related to IBC 2016 passed by IBBI, NCLT, NCLAT, HC & SC

Corporate Law - Summary of Orders related to IBC 2016 passed by IBBI, NCLT, NCLAT, HC & SC during July to September 2020 Orders by Supreme Court M/s Marathe Hospitality Vs. Mahesh Surekha & Ors. [SLP (C) No. 8139/2020] The petitioner filed an appeal before the NCLAT. However, the NCLAT closed its functioning as one of its employees […]...

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Case Commentary on Vodafone International Holdings B.V. vs. Union of India (SC) & Formula One World Championship V CIT

Corporate Law - Case Commentary on Vodafone International Holdings B.V. vs. Union of India (UOI) and Ors. (20.01.2012 – SC) and Formula One World Championship V CIT. TAX OPINION PAPER- CASE SUMMARY FOR VODAFONE AND FORMULA ONE CASE Vodafone International Holdings B.V. vs. Union of India (UOI) and Ors. (20.01.2012 – SC): MANU/SC/0051/2012 Voda...

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Maintenance Awarded Must Be Reasonable & Realistic: SC

Corporate Law - The Supreme Court held that Maintenance Awarded Must Be Reasonable and Realistic The Supreme Court had stated that the main purpose of granting temporary/permanent alimony or maintenance is to make sure that the dependant partner is not reduced to destitution or homelessness because of the failure of the marriage, and not as a punishmen...

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Direct & Indirect Taxes Updates- October 2020

Corporate Law - DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News CBDT issues notification extending the due dates for Income Tax Returns & Tax Audit Reports, as follows (Notification no. 88/2020 dated 29.10.2020) -Without tax audit- 31.12.2020 -Transfer pricing and tax audit- 31.01.2021 -Income Tax return FY 2018-19 -3...

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Income Tax Updates- September, 2020

Corporate Law - DOMESTIC TAX CASE LAWS SUPREME COURT 1. Where High Court upheld Tribunal’s order setting aside addition made by AO under section 153A on ground that said addition was not based on any incriminating material found during course of search, SLP filed against said order was to be dismissed due to low tax effect. [Pr. CIT […]...

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No Change in CA Exam Schedule- SC satisfied with ICAI clarification

Corporate Law - During the course of hearing, ICAI informed the Hon'ble Court that it had verified the position from the concerned examination centres and was informed by the said examination centres that they are not falling in any containment zones....

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SC teaches Court etiquettes to erring lawyer

Corporate Law - Covid pandemic has ushered in a new era and have brought  in new concepts and ways of working in different spheres of life. Our legal system has also undergone a complete change and Video Conferencing Hearings have become the order of the day. The Apex Court and various High Courts are virtually hearing important matters […]...

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SC to soon decide on exigibility of interest on interest on deferred loans during moratorium

Corporate Law - The Reserve Bank of India, in view of the Covid pandemic, realised the financial emergency and liquidity crunch in our economy due to lockdown, announced moratorium for all loans for a certain period. However, there is dispute about the chargeability of interest  by the Banks/ Financial Corporations on this extended period. The business ...

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SC shows concern for poor plight of migrant labour- orders facilitation of stranded labour

Corporate Law - Modi Government announced early  Lockdown to save the country from Covid- 19. The whole world applauded his timely action. The limited number of infected people & low mortality in our country as compared to the Western world speaks volumes of the timely imposition of lockdown and remedial measures undertaken by our government. But in...

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Declare national financial emergency in Country in the wake of coronavirus

Corporate Law - Centre For Accountability And Systemic Change (CASC) has filed a petition in Supreme Court for direction to Ministry Of Home Affairs/Central Government to declare national financial emergency in the Country in the wake of the coronavirus (COVID-19) pandemic. Relevant text of the Petition is as follows:- MOST RESPECTFULLY SHOWETH: 1. Writ ...

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Gujarat Maritime Board was having a callous & indifferent attitude in denying interest on refund of deposit: SC

Chief Executive Officer and Vice Chairman Gujarat Maritime Board Vs Asiatic Steel Industries Ltd And Ors. (Supreme Court) - Gujarat Maritime Board was having a callous and indifferent attitude and not justified in denying interest on the refund of the deposit which was allowed to the Asiatic steel on account of delay in refund of the amount paid by it for securing contract for a piece of land for ship breaking activity. ...

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Quashing of Complaint Should Rather be Exception & A Rarity than an Ordinary Rule: SC

Skoda Auto Volkswagen India Private Limited Vs State of Uttar Pradesh & Ors. (Supreme Court of India) - Skoda Auto Volkswagen India Private Limited Vs State of Uttar Pradesh & Ors. (Supreme Court of India) We are unable to agree with the contention of the learned Senior Counsel for the petitioner that the substratum of the police complaint is something that is already the subject matter of adjudic...

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Constitute National Tribunals Commission to supervise appointments & functioning of Tribunals: SC to UOI

Madras Bar Association Vs Union of India & Anr. (Supreme Court of India) - Madras Bar Association Vs Union of India & Anr. (Supreme Court of India) (i) The Union of India shall constitute a National Tribunals Commission which shall act as an independent body to supervise the appointments and functioning of Tribunals, as well as to conduct disciplinary proceedings again...

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SC directs HC to decide on vires of Section 40(a)(iib) of Income Tax Act, 1961

Tamil Nadu State Marketing Corporation Ltd. Vs Union of India And Others (Supreme Court) - Tamil Nadu State Marketing Corporation Ltd. Vs Union of India And Others (Supreme Court of India) When the vires of Section 40(a)(iib) of the Income Tax Act were challenged, which can be decided by the High Court alone in exercise of powers under Article 226 of the Constitution of India, the High Co...

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SC: No Litigant can be penalized for non appearance of lawyer-Judicial Reforms/Policy needed

Parveen V. State of Haryana (Supreme Court) - Parveen V. State of Haryana (Supreme Court) The Apex Court in a in a recent decision has ruled that it the appeal/revision/writ of a litigant cannot be dismissed if the  lawyer of the litigant it is not present in the court due to any reason whatsoever. The Court ruled on 16th November 2020 in the ...

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SOP for limited physical hearing before Hon’ble Supreme Court

NA - (30/08/2020) - SUPREME COURT OF INDIA Standard Operating Procedure for limited physical hearing before Hon’ble Court In continuation of directions already notified regarding functioning of the Supreme Court of India, in the wake of the Covid-19 pandemic, more particularly through Circulars dated 14.03.2020 and 2...

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SC SOP: Advocate-on-Record & Party-in-Person to file soft copy of petition

F. No. 10/Judl.2020 - (27/07/2020) - SC direct that henceforth Advocate-on-Record and Party-in-Person shall file soft copy of the petition as well as the accompanying documents, filed in physical form at the filing counter of the Registry....

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SC Relaxes Dress Code For Lawyers Amid Pandemic

F. No. 06/Judl./2020 - (13/05/2020) - Considering the medical advice, as a precautionary measure to contain spread of Coronavirus (COULD-L9) infection under the prevailing conditions, the Competent Authority has been pleased to direct that the advocates may wear plain white-shirt/white-salwar-kameez/ white saree, with a plain-white neck...

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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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Recent Posts in "supreme court judgements"

Gujarat Maritime Board was having a callous & indifferent attitude in denying interest on refund of deposit: SC

Chief Executive Officer and Vice Chairman Gujarat Maritime Board Vs Asiatic Steel Industries Ltd And Ors. (Supreme Court)

Gujarat Maritime Board was having a callous and indifferent attitude and not justified in denying interest on the refund of the deposit which was allowed to the Asiatic steel on account of delay in refund of the amount paid by it for securing contract for a piece of land for ship breaking activity. The Board's action was entirely unaccept...

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Quashing of Complaint Should Rather be Exception & A Rarity than an Ordinary Rule: SC

Skoda Auto Volkswagen India Private Limited Vs State of Uttar Pradesh & Ors. (Supreme Court of India)

Skoda Auto Volkswagen India Private Limited Vs State of Uttar Pradesh & Ors. (Supreme Court of India) We are unable to agree with the contention of the learned Senior Counsel for the petitioner that the substratum of the police complaint is something that is already the subject matter of adjudication before this Court in the […...

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Constitute National Tribunals Commission to supervise appointments & functioning of Tribunals: SC to UOI

Madras Bar Association Vs Union of India & Anr. (Supreme Court of India)

Madras Bar Association Vs Union of India & Anr. (Supreme Court of India) (i) The Union of India shall constitute a National Tribunals Commission which shall act as an independent body to supervise the appointments and functioning of Tribunals, as well as to conduct disciplinary proceedings against members of Tribunals and to take care...

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SC directs HC to decide on vires of Section 40(a)(iib) of Income Tax Act, 1961

Tamil Nadu State Marketing Corporation Ltd. Vs Union of India And Others (Supreme Court)

Tamil Nadu State Marketing Corporation Ltd. Vs Union of India And Others (Supreme Court of India) When the vires of Section 40(a)(iib) of the Income Tax Act were challenged, which can be decided by the High Court alone in exercise of powers under Article 226 of the Constitution of India, the High Court ought to […]...

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Summary of Orders related to IBC 2016 passed by IBBI, NCLT, NCLAT, HC & SC

Summary of Orders related to IBC 2016 passed by IBBI, NCLT, NCLAT, HC & SC during July to September 2020 Orders by Supreme Court M/s Marathe Hospitality Vs. Mahesh Surekha & Ors. [SLP (C) No. 8139/2020] The petitioner filed an appeal before the NCLAT. However, the NCLAT closed its functioning as one of its employees […]...

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Posted Under: CA, CS, CMA |

SC: No Litigant can be penalized for non appearance of lawyer-Judicial Reforms/Policy needed

Parveen V. State of Haryana (Supreme Court)

Parveen V. State of Haryana (Supreme Court) The Apex Court in a in a recent decision has ruled that it the appeal/revision/writ of a litigant cannot be dismissed if the  lawyer of the litigant it is not present in the court due to any reason whatsoever. The Court ruled on 16th November 2020 in the […]...

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Case Commentary on Vodafone International Holdings B.V. vs. Union of India (SC) & Formula One World Championship V CIT

Case Commentary on Vodafone International Holdings B.V. vs. Union of India (UOI) and Ors. (20.01.2012 – SC) and Formula One World Championship V CIT. TAX OPINION PAPER- CASE SUMMARY FOR VODAFONE AND FORMULA ONE CASE Vodafone International Holdings B.V. vs. Union of India (UOI) and Ors. (20.01.2012 – SC): MANU/SC/0051/2012 Voda...

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Posted Under: CA, CS, CMA |

HC not obliged to frame substantial question of law, if, it finds no error in findings of First Appellate Court

Kirpa Ram (Deceased) Through Legal Representatives & Ors. Vs Surendra Deo Gaur & Ors. (Supreme Court of India)

Kirpa Ram (Deceased) Through Legal Representatives & Ors. Vs Surendra Deo Gaur & Ors. (Supreme Court) Sub-section (1) of Section 100 of the Code contemplates that an appeal shall lie to the High Court if it is satisfied that the case involves a substantial question of law. The substantial question of law is required to […]...

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Any company creditor can seek transfer of winding up proceedings pending before HC to NCLT

Kaledonia Jute And Fibres Pvt. Ltd Vs Axis Nirman And Industries Ltd. & Ors. (Supreme Court of India)

Kaledonia Jute And Fibres Pvt. Ltd Vs Axis Nirman And Industries Ltd. & Ors. (Supreme Court of India) Section 278 of the 2013 Act shows that any petition by a single creditor or contributory is actually treated as a joint petition of creditors and contributories, so that the order of winding up operates in favour […]...

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Date of birth change request in service records at fag end of service is not sustainable: SC

Bharat Coking Coal Ltd. & Ors. Vs Shyam Kishore Singh (Supreme Court of India)

Bharat Coking Coal Ltd. & Ors. Vs Shyam Kishore Singh (Supreme Court of India) This Court has consistently held that the request for change of the date of birth in the service records at the fag end of service is not sustainable. In the instant case, as on the date of joining and as also […]...

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Availability of alternate remedy is no bar in entertaining a complaint under Consumer Protection Act, 1986

Imperia Structures Ltd. Vs Anil Patni And Another (Supreme Court of India)

Imperia Structures Ltd. Vs Anil Patni and Another (Supreme Court) Section 79 of the RERA Act bars jurisdiction of a Civil Court to entertain any suit or proceeding in respect of any matter which the Authority or the adjudicating officer or the Appellate Tribunal is empowered under the RERA Act to determine. Section 88 specifies […]...

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Remedy u/s 14 of SARFAESI Act not rendered redundant if District Magistrate unable to handover possession

C. Bright Vs District Collector & Ors. (Supreme Court of India)

C. Bright Vs District Collector & Ors. (Supreme Court) Whether the time limit of 30 days which is further extendable by a further period 30 days for a District Collector to secure the possession of a secured asset is mandatory or directory? The challenge in the present appeal is to an order passed by the […]...

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Maintenance Awarded Must Be Reasonable & Realistic: SC

The Supreme Court held that Maintenance Awarded Must Be Reasonable and Realistic The Supreme Court had stated that the main purpose of granting temporary/permanent alimony or maintenance is to make sure that the dependant partner is not reduced to destitution or homelessness because of the failure of the marriage, and not as a punishmen...

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Posted Under: CA, CS, CMA |

Retired employee can file his case at the place where he belongs or was getting pension

Shanti Devi Alias Shanti Mishra Vs Union of India & Ors. (Supreme Court of India)

Shanti Devi Alias Shanti Mishra Vs Union of India & Ors. (Supreme Court of India) A retired employee can prosecute his case at the place where he belonged to and was getting pension The deceased petitioner was continuously receiving pension for the last 08 years in his saving bank account in State Bank of India, […]...

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Order blacklisting beyond 3 years or maximum of 5 years was disproportionate

Vetindia Pharmaceuticals Limited Vs State of Uttar Pradesh and Another (Supreme Court)

Vetindia Pharmaceuticals Limited Vs State of Uttar Pradesh and Another (Supreme Court of India) An order of blacklisting operates to the prejudice of a commercial person not only in praesenti but also puts a taint which attaches far beyond and may well spell the death knell of the organisation/institution for all times to come described [...

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Premature Disclosure of Pending tax Investigation to Media Not Justified in Law

Rajendran Chingaravelu vs Addl. CIT (Supreme Court of India)

The issue under consideration is whether the proceedings of enquiry/investigation undertaken at the airports without keeping it confidential and premature disclosure to the media (print/electronic) is justified in law?...

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Direct & Indirect Taxes Updates- October 2020

DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News CBDT issues notification extending the due dates for Income Tax Returns & Tax Audit Reports, as follows (Notification no. 88/2020 dated 29.10.2020) -Without tax audit- 31.12.2020 -Transfer pricing and tax audit- 31.01.2021 -Income Tax return FY 2018-19 -3...

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Criminal trial verdict does not conclude disciplinary proceedings

The State of Rajasthan & Ors. Vs Heem Singh (Supreme Court of India)

The State of Rajasthan & Ors. Vs Heem Singh (Supreme Court of India) In the present case, the respondent was acquitted of the charge of murder. The circumstances in which the trial led to an acquittal have been elucidated in detail above. The verdict of the criminal trial did not conclude the disciplinary enquiry. The […]...

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No Change in CA Exam Schedule- SC satisfied with ICAI clarification

Amit Jain & Ors. Vs Union of India & Anr. (Supreme Court)

During the course of hearing, ICAI informed the Hon'ble Court that it had verified the position from the concerned examination centres and was informed by the said examination centres that they are not falling in any containment zones....

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Posted Under: CA, CS, CMA | ,

Daughter in law has right to stay in a suit property or not to be decided on basis of evidence

Satish Chander Ahuja Vs Sneha Ahuja (Supreme Court)

Satish Chander Ahuja Vs Sneha Ahuja (Supreme Court) Conclusion: Suit filed in civil court for mandatory and permanent injunction was fully maintainable and the issues raised by assessee-father-in-law as well as by daughter-in-law claiming a right under Section 19 were to be addressed and decided on the basis of evidence, which was led by ...

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SC transfers to itself petitions challenging IBC provisions on personal guarantors

IBBI Vs Lalit Kumar Jain & Ors. (Supreme Court of India)

IBBI Vs Lalit Kumar Jain & Ors. (Supreme Court) We are of the considered opinion that the Writ Petitions that are pending in the High Courts pertaining to the challenge to the Notification dated 15.11.2019 and related issues have to be transferred to this Court. Transfer of the Writ Petitions to this Court would avoid […]...

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SC grants to Move Representation Seeking Exemption from GST on Disability Aids with GST Council

Nipun Malhotra Vs Union of India (Supreme Court)

The petition is filed to seek exemption from GST on Disability aids i.e mobility services. Hence, the Supreme Court granted liberty to the petitioner to move a representation with the GST council for no GST on disability products....

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Frame Video Conferencing Rules: SC direct High Courts

In Re Guidelines For Court Functioning Through Video Conferencing (Supreme Court)

SC has directed those HC that have not framed Video Conferencing Rules, shall do so having regard to the circumstances prevailing in the State. Till such Rules are framed, the HC may adopt the model Video Conferencing Rules provided by the E-Committee, SC of India to all the Chief Justices of the HC....

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No section 68 Addition for URD Purchase supported with Strong Evidences

Baser Ahmed Sisodia Vs ITO (Supreme Court)

The issue under consideration is whether claim to purchase of goods by the assessee could be dealt with u/s 68 of the Income Tax as a cash credit, by placing burden upon the assessee to explain that the purchase price does not represent his income from the disclosed sources?...

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SC explains Infraction of principles of natural justice & Validity of orders passed

State of U.P. Vs Sudhir Kumar Singh And Ors. (Supreme Court)

State of U.P. Vs Sudhir Kumar Singh and Ors. (Supreme Court) (1) Natural justice is a flexible tool in the hands of the judiciary to reach out in fit cases to remedy injustice. The breach of the audi alteram partem rule cannot by itself, without more, lead to the conclusion that prejudice is thereby caused. […]...

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Stay of Demand automatically expires within Period of 6 Months unless Extension is granted for Good Reason

Asian Resurfacing of Road Agency Pvt. Ltd. Vs CBI (Supreme Court)

The issue under consideration is whether the stay of demand granted for 6 months can automatically extend beyond 6 months without any order?...

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SC dismisses PIL against alleged Mis-utilisation of Funds Lying in NCEF

Atul Gulati Vs Union of India (Supreme Court of India)

In the Instant case the PIL has been filed by the Petitioner in public interest against the diversion and misutilization of the funds lying in the National Clean Energy Fund (NCEF) in front of Supreme Court....

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Liquidation of Corporate Debtor should be last resort; SC Stays auction of properties of Corporate Debtor

Kridhan Infrastructure Pvt. Ltd. (Now Known As Krish Steel And Trading Pvt. Ltd) Vs. Venkatesan Sankaranaayan & Ors. (Supreme Court)

Kridhan Infrastructure Pvt. Ltd. (Now Known As Krish Steel And Trading Pvt. Ltd) Vs. Venkatesan Sankaranaayan & Ors. (Supreme Court) SC held that Liquidation of the Corporate Debtor should be a matter of last resort. The IBC recognizes a wider public interest in resolving corporate insolvencies and its object is not the mere recovery ...

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SC quashes Gujarat Notification exempting factories from paying overtime during lock down

Gujarat Mazdoor Sabha & Anr. Vs. The State of Gujarat (Supreme Court of India)

Gujarat Mazdoor Sabha & Anr. Vs. The State of Gujarat (Supreme Court) Facts- The Gujarat Government, on 17th April 2020, issued a notification under section 5 exempting all the factories from various provisions relating to weekly hours, daily hours, intervals for rest etc. for adult workers during the period 20th April 2020 till 19th ...

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SC: Right to compassionate appointment especially to provide successor to a needy family cannot be granted inherently.

State of Madhya Pradesh & Ors. Vs Amit Shrivas (Supreme Court)

There could not be any inherent right to compassionate appointment but rather, it was a right based on certain criteria, especially to provide successor to a needy family. This has to be in terms of the applicable policy as existing on the date of demise, unless a subsequent policy was made applicable retrospectively. ...

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SC explains Territorial jurisdiction in a cheque bouncing case

Himalaya Self Farming Group & ANR. Vs. Goyal Feed Suppliers (Supreme Court of India)

Supreme Court states that as per section 142(2)(a) of the Negotiable Instrument Act, the court within whose jurisdiction the branch of the bank where the payee maintains the account is situated, will have jurisdiction to try the offence, if the cheque is delivered for collection through an account....

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Income Tax Updates- September, 2020

DOMESTIC TAX CASE LAWS SUPREME COURT 1. Where High Court upheld Tribunal’s order setting aside addition made by AO under section 153A on ground that said addition was not based on any incriminating material found during course of search, SLP filed against said order was to be dismissed due to low tax effect. [Pr. CIT […]...

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Posted Under: CA, CS, CMA |

Employer liable, under Motor Vehicles Act, if permits driver to drive with an expired license: SC

Bell Ram Vs Rajinder Kumar & Anr. (Supreme Court of India)

Bell Ram Vs Rajinder Kumar & Anr. (Supreme Court) 1. The sole question of law for consideration in the present appeals is whether in case of a valid driving licence, if the licence has expired, the insured is absolved of its liability. 2. The facts are in a very narrow compass. The first respondent herein, […]...

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Direct & Indirect Taxes Updates- September 2020

DIRECT TAXES UPDATES  Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT issues directions for disposal of appeals under Faceless Appeal scheme 2020 (Notification no. 77/2020 dated 25.09.2020) ♦ CBDT notifies the Faceless Appeals Scheme, 2020 (Notification no. 76/2020 dated 25.09.2020) ♦ CBDT notifies for 15C for Ap...

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Posted Under: CA, CS, CMA |

Notification cannot have retrospective effect unless authorised by statue: SC

Union of India & Ors. vs M/s G S Chatha Rice Mills & Anr. (Supreme Court)

Union of India & Ors. Vs M/s G S Chatha Rice Mills & Anr. (Supreme Court) In the context of the Customs Act, and having regard to the Scheme, which, in the case of import duty, consists of filing of Bill of Entry for home consumption, self-assessment and payment of duty on the basis of […]...

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SC allows withdrawal of Appeal for mere Excise Component under SVLDR Scheme, 2019

Sterlite Optical Technologies Ltd. Vs Commissioner of Customs & Central Excise (Supreme Court)

The issue under consideration is whether petitioner's request to withdraw appeal in respect of the excise component under Sabka Vishwas (Legacy Dispute Resolution) (SVLDR) Scheme, 2019 can be accepted by the court?...

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Supreme Court urges for a vibrant & ‘redeveloped’ Advance Ruling System

Earlier this month, the Supreme Court adjudicated a 44-year old case pertaining to Finance Year 1975-76, in the case of National Co-Operative Development Corporation (a government corporation set up under the National Development Corporation Act). While concluding, the Court remarked on the present system of tax litigations that the Supre...

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Posted Under: CA, CS, CMA |

Judicial review should not be exercised virtually as a continuous oversight of DA’s functions: SC

Designated Authority & Ors. Vs. The Andhra Petrochemicals Ltd. (Supreme Court)

Designated Authority & Ors. Vs. Andhra Petrochemicals Ltd. (Supreme Court) Access to judicial review is a valuable right conferred upon citizens and persons aggrieved; the Constitution arms the High Courtsand this court with powers under Articles 226 and 32. At the same time, barring exceptional features necessitating intervention in ...

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SC upholds power of CG to impose quota restrictions on imports without adjudication procedure

Supreme Court upholds power of CG to impose quota restrictions on imports without adjudication procedure The Apex Court in a recent decision involving importers of green and yellow peas, beans has upheld the power of the Central Government to impose quantitative restrictions on the import of goods without following the adjudication proced...

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Posted Under: CA, CS, CMA |

SC on 44 year old case & need for Vibrant system of Advance Ruling

National Co-Operative Development Corporation Vs. CIT (Supreme Court)

Supreme Court (SC) on Forty-Four year old case and need for Vibrant system of Advance Ruling Recently, Supreme Court delivered its verdict in a Forty-Four (44) year old pending case in case of National Co-operative Development Corporation. While the interesting part of the judgment is the Two Postscripts penned down by Justice Kaul but le...

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National co-op development corporation Vs. CIT- SC decides 44 years Old dispute

National Co-Operative Development Corporation Vs. CIT (Supreme Court)

National Co-Operative Development Corporation Vs. CIT (Supreme Court) The factual matrix: 1. The appellant-Corporation, National Co-operative Development Corporation, was established under the National Cooperative Development Corporation Act, 1962 (hereinafter referred to as the ‘NCDC Act’). 2. The functions of the appellant-Corporati...

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Service Tax Levied on Charges Collected for Supply of Pipes & Measuring Equipment

Commissioner of Service Tax Vs Adani Gas Ltd. (Supreme Court of India)

The issue under consideration is whether service tax will be levied on the charges collected by the Adani Gas Ltd for supply of pipes and measuring equipment to its customers u/s 65(105)(zzzzj) of the Finance Act, 1994?...

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Changes in duty liability on DTA clearances from EOU applies prospectively only

L. R. Brothers Indo Flora Ltd. Vs. Commissioner of Central Excise (Supreme Court)

L. R. Brothers Indo Flora Ltd. Vs. Commissioner of Central Excise (Supreme Court) The appellant being a 100% EOU and into manufacture of cut flowers, without obtaining the approval of the Development Commissioner and without maintaining the requisite net foreign exchange earning, made DTA sales to the extent of Rs.38,40,537/­ during 1998...

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Moratorium accounts not to be declared as NPA until further notice: SC

Moratorium accounts not to be declared as NPA until further notice: Order by Apex Court on September 03, 2020 & September 10, 2020 The apex court heard petition of borrowers on September 03, 2020 seeking interest waiver on loan moratorium granted previously by Reserve Bank of India (“RBI”). In the backdrop of COVID-19, banks had [...

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Posted Under: CA, CS, CMA |

Not to declare petitioner as NPA till Further Order: SC

Gajendra Sharma Vs Union of India (Supreme Court)

Gajendra Sharma Vs Union of India (Supreme Court ) The issue under consideration is whether the interest will be charged on loan during moratorium period which is declared by RBI due to COVID-19? As per RBI’s circular dated 27th March, 2020 the RBI has extended the moratorium period from June 01 to 31st August, 2020 […]...

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SC Sustains Imposition of Restrictions on Import of Peas & Pulses

Union of India Vs Agricas LLP and Others etc. (Supreme Court of India)

Union of India Vs Agricas LLP and Others etc. (Supreme Court) In the instant case, the Writ Petition is filed by challenging the imposition of restrictions on import of Peas and pulses. As per petitioner, the notifications issued by the DGFT had the effect of modifying or amending the EXIM policy as the specified items […]...

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Motor Vehicle Compensation can also be Granted to Children & Parents

The New India Assurance Company Limited Vs. Smt. Somwati And Others (Supreme Court)

Supreme Court in a recent ruling has observed that in the Motor Accident Compensation Claims, that the children and family would also be authorized for compensation under 'Loss of consortium' in claims of Motor Accident under the Act....

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Bangalore Club not liable to pay wealth tax, SC explains Rule 21AA applicability

Bangalore Club Vs CIT (Supreme Court of India)

Bangalore Club Vs CIT (Supreme Court) 1. In the year of grace 1868, a group of British officers banded together to start the Bangalore Club. In the year of grace 1899, one Lt. W.L.S. Churchill was put up on the Club’s list of defaulters, which numbered 17, for an amount of Rs.13/- being for an […]...

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Income Tax Updates – August 2020

NEWS DIRECT TAX 1. CBDT advised banks to refund charges collected on electronic transactions carried over modes prescribed u/s 269SU. [Ref: Circular 16/2020 dated 30.08.2020] 2. CBDT notifies conditions to be satisfied by pension fund to become eligible for exemption u/s 10(23FE). [Ref: Notification No. 67/2020/ F. No. 370142/28/2020-TPL]...

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Posted Under: CA, CS, CMA |

Direct & Indirect Taxes Updates- August 2020

DIRECT TAXES UPDATES  Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT notified the procedure for notification of Pension funds (PF) for claiming exemption under section 10(23FE) for income from Investment in Specified Infrastructure business (Notification no. 67/2020 dated 17.08.2020) ♦ CBDT notifies 34 authorities...

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Allow judiciary the freedom of expression

Author in this article discusses the recent judgement relating to contempt of court against Adv. Prashant Bhushanand the relatively less discussed related aspect namely freedom [or absence thereof] of expression to judges....

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Posted Under: CA, CS, CMA |

Corporate Debtor cannot raise dispute post approval of Resolution plan by Committee of Creditors: SC

Karad Urban Cooperative Bank Ltd. Vs. Swwapnil Bhingardevay (Supreme Court)

Karad Urban Cooperative Bank Ltd. Vs. Swwapnil Bhingardevay (Supreme Court) If all the factors that need to be taken into account for determining whether or not the corporate debtor can be kept running as a going concern have been placed before the Committee of Creditors and the CoC has taken a conscious decision to approve […]...

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SC allows 10 years time to Telecom Companies to pay AGR dues

Union of India Vs Association of Unified Telecom Service Providers of India Etc (Supreme Court)

(i) That for the demand raised by the Department of Telecom in respect of the AGR dues based on the judgment of this Court, there shall not be any dispute raised by any of the Telecom Operators and that there shall not be any re­assessment. (ii) That, at the first instance, the respective Telecom Operators shall make the payment of 10...

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Date of Award is Date of Accrual of Gains under Section 45 in case of Compulsory Acquisition

Raj Pal Singh Vs CIT (Supreme Court of India)

The issue under consideration is whether the High Court was right in taking the date of award as the date of accrual of capital gains for the purpose of Section 45 of the Act of 1961?...

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SOP for limited physical hearing before Hon’ble Supreme Court

NA (30/08/2020)

SUPREME COURT OF INDIA Standard Operating Procedure for limited physical hearing before Hon’ble Court In continuation of directions already notified regarding functioning of the Supreme Court of India, in the wake of the Covid-19 pandemic, more particularly through Circulars dated 14.03.2020 and 23.03.2020, and on consideration of the r...

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SC Overrides Agreement while Compensating Flat Buyer for delayed possession

Wg. Cdr. Arifur Rahman Khan & Aleya Sultana & Ors vs. DLF Southern Homes Pvt. Ltd. (Supreme Court), Civil appeal no.6239/2019

Delays and defaults are common in real estate development. The Flat buyers are usually left in the lurch where the Developer delays the delivery of the constructed units incessantly. This prompted the government to enact Real Estate (Regulation and Development) Act, 2016....

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Homebuyers entitled to Reasonable Compensation for Delay in Possession: SC

Lot many Builder/Developers have failed to give possession of the property to homebuyers within the agreed period. This week Hon. Supreme Court has held that homebuyers are entitled to reasonable compensation for “delayed handing over of possession” and for the failure of the developer to fulfil their promises regarding the amenities...

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Posted Under: CA, CS, CMA |

SC Refuses to transfer Money from PM CARES Fund to NDRF

Centre for Public Interest Litigation Vs Union of India (Supreme Court)

The issue under consideration is whether the Supreme court will grant permission for transferring the money collected in PM Cares fund to the National Disaster Relief Fund?...

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SC explains Excise Valuation Principal for under Invoiced Goods pre & Post 01.07.2000

Commissioner of Central Excise, Customs & Service Tax Vs Cera Board and Doors (Supreme Court)

Commissioner of Central Excise Vs Cera Board and Doors (Supreme Court) In fine, these appeals are disposed of, confirming the impugned orders of CESTAT setting aside the Orders ­in­ Original passed by the Adjudicating Authorities and remanding the matters back for re­adjudication. However, while carrying out the exercise of re­adjudic...

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Power of Revision of Orders by Supreme Court or High Court in Review petition

In India, a binding decision of the Supreme Court or High Court can be reviewed in Review Petition. The parties aggrieved on any order of the Supreme Court or High Court on any apparent error can file a review petition. Taking into consideration the principle of stare decisis, courts generally do not unsettle a decision, […]...

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SC allows CBI probe into Sushant Singh Rajput Death Case

Rhea Chakraborty Vs State of Bihar & Ors. (Supreme Court)

Rhea Chakraborty Vs State of Bihar & Ors. (Supreme Court) Supreme Court in a deserving case, can invoke Article 142 powers to render justice. The peculiar circumstances in this case require that complete justice is done in this matter. How this is to be achieved must now be decided. As noted earlier, as because both […]...

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SC dismisses plea challenging exclusion of CM Relief Fund from CSR

Mahua Moitra Vs Union of India (Supreme Court of India)

The Supreme Court dismissed the petition filed by the assessee challenging decision of Central Government to excluding Chief Minister’s Relief Fund from the purview of Corporate Social Responsibility (CSR)....

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Analysis of SC judgment in the case of Babulal Vardharji Gurjar

Babulal Vardharji Gurjar Vs Veer Gurjar Aluminium Industries Pvt. Ltd. & anr. (Supreme Court)

Babulal Vardharji Gurjar Vs Veer Gurjar Aluminium Industries Pvt. Ltd. & anr. (Supreme Court) While setting aside the Order dated 14th May, 2019 of the NCLAT in Company Appeal (AT) Insolvency No. 549 of 2018 and Order dated 9th August, 2018 of the National Company Law Tribunal, Mumbai Bench in CP(IB)-488/I&BP/MB/2018, on the groun...

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Daughter’s Right in Ancestral Property from Retrospective Effect

In a significant judgment on Tuesday, the Supreme Court of India ruled that a daughter will have a share in her ancestral property after the Hindu Succession (Amendment) Act, 2005 irrespective of the fact whether her father was alive or not at the time of the amendment....

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Family arrangement is a memorandum of settlement does not require registration-SC

Ravinder Kaur Grewal & Ors. Vs Manjit Kaur & Ors. (Supreme Court)

The issue before the Court was whether a memorandum of settlement required registration as by way of said document the interest in immovable property worth more than Rs.100/­ was transferred in favour of the plaintiff...

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Daughters have Equal rights to inherit ancestral property even if born prior to 9.9.2005: SC

Vineeta Sharma vs. Rakesh Sharma (Supreme Court) (Larger Bench)

Equality reaffirmed by the Supreme Court in a recent judgement delivered on August 11, 2020. It has been held that a daughter will have a share under the Hindu Succession (Amendment) Act, 2005, irrespective of whether her father was alive or not at the time of the amendment....

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SC confirms One Year Imprisonment for Demanding Bribe of Rs. 300

Gurdip Singh Patwari Vs State of Punjab (Supreme Court)

SC confirmed One Year Rigorous Imprisonment for Revenue Officer for Demanding Bribe of Rs 300...

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Income Tax Updates – July 2020

NEWS DIRECT TAX 1. CBDT notifies ‘Director General / Secretary, CCI’ u/s 138 for sharing of information. [Ref: Notification No. 57/2020/F. No. 225/ 98/2019-ITA-II] 2. CBDT further extends due date for filing of ITR for AY 2019-20 till 30-09-2020. [Ref: Notification No. 56/2020/ F. No. 370142/23/2020-TPL] 3. CBDT amends Forms for furni...

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Posted Under: CA, CS, CMA |

Summary of 10 Judgements of SC in FY 2019-20 in Favour of Revenue 

Summary of Some Judgements of Honourable Supreme Court in FY 2019-20 in the Favour of Revenue S. No. Name of Case Date of Judgement Summary 1 Super Malls Private Limited v. Principal Commissioner of Income-tax 8, New Delhi NJRS Citation: 2020-LL-0305-11 Taxmann Citation: [2020] 115 taxmann.com 105 (SC) 05.03.2020 Issue relating to Section...

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Posted Under: CA, CS, CMA |

Contingent Clause in Rent Deed to Increase Rent each Year

Siri Chand (Deceased) Thr. Lrs. Vs. Versussurinder Singh (Supreme Court)

Recently, in a matter of Civil Appeal No. 2617 of 2020, the Supreme Court, vide their judgment dated 17th June, 2020,  has observed that where a rent deed contains a contingent clause which binds the tenant to increase the rent by certain percentage each year, it cannot be read to mean that the tenancy was for a period of more than one y...

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Direct & Indirect Taxes Updates- July 2020

DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT extends due date for Income Tax Returns for FY 2018-19 from 31st July 2020 to 30th September 2020 (Notification no. 56/2020 dated 29th July 2020). ♦ CMDT amends rule 31a and form 26Q from 3rd July 2020 w.r.t. providing certain information related t...

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Posted Under: CA, CS, CMA |

Supreme Court Judgment on Disallowance under Section 40(a)(ia)

Shree Choudhary Transport Company Vs ITO (Supreme Court)

Shree Choudhary Transport Company Vs ITO (Supreme Court) 1. As to whether Section 194C of the Act does not apply to the present case? Whether the appellant had specific and identified trucks on its rolls or had been picking them up on freelance basis, the legal effect on the status of parties had been the […]...

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FERA Offence Liability depends on Role in Company Affairs & Not on Mere Designation or Status: SC

Shailendra Swarup Vs The Deputy Director (Supreme Court of India)

Shailendra Swarup Vs Deputy Director (Supreme Court of India) Section 68 of FERA, 1973 deals with Offences by companies. Section 68(1) provides that every person who, at the time of the contravention was committed, was in charge of, and was responsible to, the company for the conduct of business of the company as well as […]...

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Judicial Pronouncements- Income Tax (April-July 2020)

April 2020 Union of India & Ors. Vs Exide Industries Limited & Anr. (Supreme Court); Civil Appeal No. 3545/2009; 24/04/2020 Supreme court upheld the constitutional validity of section 43B(f) of income tax Act i.e. deduction is available only on actual payment of leave to the credit of employee BT India Private Ltd. Vs ITO (Delhi [...

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Dispute under IBC Code Must be Truly Exist in Facts

Vishal Vijay Kalantri Vs DBM Geotechnics & constructions PVT. LTD. & Anr. (Supreme court)

The Supreme Court has reiterated that 'dispute' for the purpose of Section 8 of the Insolvency and Bankruptcy Code must truly exist in the facts and spurious, hypothetical and illusory...

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Ultratech Cement liable to Pay Interest @ 12% on Exessive Subsidy until Entire Excess Subsidy Recovered

Ultratech Cement Ltd. & Anr. Vs State of Rajasthan & Ors (Supreme Court)

Whether interest will be levied on availment of excessive subsidies of 25% under Rajasthan Investment Promotion Scheme-2003 until the whole excessive subsidies are recovered?...

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Factors to be considered in case of Motor Vehicle Accident Compensation

Erudhaya Priya vs State Express Transport Corporation Ltd. (Supreme Court)

Erudhaya Priya vs State Express Transport Corporation Ltd. (Supreme Court) In a recent judgment on 27th July 2020, the Supreme Court of India has concluded it shall be necessary to take note of the factors like career prospects and future advancement in life while applying the multiplier method to calculate that while applying the mult...

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Office established merely for communication is not a PE under India-Korea DTAA

Director of Income Tax Vs Vs Samsung Heavy Industries Co. Ltd. (Supreme Court)

whether the office which is established merely for the sake of communication is covered under the character of Permanent Establishment (PE) under India-Korea DTAA?...

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Tax Avoidance vs Evasion: A Harmonious reading of landmark Judgements of SC

In McDowell it was held that if a transaction was carried with an intention to avoid taxes it was up to the judiciary to decide whether the same ought to be regarded. In other words, the duty to decide the validity of the transaction was left to the court....

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Posted Under: CA, CS, CMA |

Compensation attributable to a negative/restrictive covenant is a capital receipt & Taxable u/s 28(va)

Shiv Raj Gupta Vs CIT (Supreme Court)

The issue under consideration is whether the non-compete fee could be taxed under any provision other than Section 28(ii)(a) of the Income Tax Act, 1961?...

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SC removed allegations levied on Tax Officer & set aside order for recovery of costs from personal resources

Sujata K.C. Vs Kalyani Motors (Pvt.) Ltd. & Ors. (Supreme Court)

Supreme Court states that they have find from the record that the learned Single Judge had no reasonable justification to hold that the petitioner had passed a whimsical order and that it suffered from malice in fact and in law....

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SC SOP: Advocate-on-Record & Party-in-Person to file soft copy of petition

F. No. 10/Judl.2020 (27/07/2020)

SC direct that henceforth Advocate-on-Record and Party-in-Person shall file soft copy of the petition as well as the accompanying documents, filed in physical form at the filing counter of the Registry....

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TDS liability on payment to non-residents which is exempt under DTAA

TDS liability on payment to non-residents which is exempt under DTAA The Supreme Court in its recent judgment in the case of  PILCOM vs CIT in SLP (CIVIL) No.7315 of 2019  has created a controversy on the withholding tax provision on the payment to be made to Non-resident. The recent judgement of Supreme Court has […]...

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Posted Under: CA, CS, CMA |

SC lays conditions for exercise of power under Article 139A to transfer cases from HC to itself

Sunil Rathee & Ors. vs The State of Haryana & Ors. (Supreme Court)

In a recent judgement dated 23 July, 2020 in the case of Sunil Rathee & Ors. vs The State of Haryana & Ors., the Apex Court had an opportunity to explain the circumstances when cases can be transferred from High Courts to itself under Article 139A of the Constitution of India....

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Compensation attributable to a negative/restrictive covenant is a capital receipt : SC

Shiv Raj Gupta Vs CIT (Supreme Court)

Shiv Raj Gupta Vs CIT (Supreme Court) The Apex Court in the case of Shiv​ Raj Gupta v. CIT1 held that the compensation attributable to a negative/restrictive covenant is a capital receipt. The Apex Court reiterated that the test of commercial expediency would have to be adjudged from the point of view of the businessman […]...

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Non Payment of part Sale Consideration not makes a Sale Deed Void or cancellable: SC

Dahiben Vs Arvindbhai Kalyanji Bhanusali (Gajra)(D) THR LRS & ORS (Supreme Court)

Dahiben Vs Arvindbhai Kalyanji Bhanusali (Gajra)(D) Thr Lrs & Ors (Supreme Court) Non Payment of part of Sale Consideration does not make a Sale Deed ‘Void’ nor constitutes a valid ground for Cancellation The Apex Court in the case of Dahiben vs. Arvindbhai Kalyanji Bhanusali (Gajra)(D) Thr Lrs decided on July 9, 2020 has categori...

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Hon’ble SC refuses to interfere with period of validity of cheque

REG: SUO MOTU WRIT PETITION(CIVIL) NO. 3 OF 2020 [IN RE-COGNIZANCE FOR EXTENSION OF LIMITATION] In Suo Moto Writ Petition (C) No. 3/2020, by order dated 23.03.2020 and 06.05.2020, Apex Court ordered that all periods of limitation prescribed under the Arbitration and Conciliation Act, 1996 shall be extended w.e.f. 15.03.2020 till further o...

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Posted Under: CA, CS, CMA |

SC grants ‘Substantial Justice’ to Real Estate Developers in Noida

Supreme Court grants ‘Substantial Justice’ to Real Estate Developers in Noida & Greater Noida- Slashes Interest Rate on delayed payment to Authorities The Powers of the Apex Court are ‘Supreme’. The concept of ‘Complete Justice’ enshrined in Article 142 of the Constitution gives the Apex Court wide amplitude ‘couched wit...

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Dispute of Inheritance of Shares cannot be decided under Companies Law: SC

Aruna Oswal Vs Pankaj Oswal & Ors. (Supreme Court)

Aruna Oswal Vs Pankaj Oswal & Ors. (Supreme Court) Hon’ble Supreme Court held that the basis of the petition is the claim by way of inheritance of 1/4th shareholding so as to constitute 10% of the holding, which right cannot be decided in proceedings under section 241/242 of the Act. Thus, filing of the petition […]...

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SC refuses to interfere with period of validity of cheque

In re Cognizance for Extension of Limitation (Supreme Court)

In re Cognizance for Extension of Limitation (Supreme Court) With reference to the prayer, that the period of validity of a cheque be extended, we find that the said  period has  not  been  prescribed by  any Statute but  it  is  a  period  prescribed by the Reserve Bank of India under Section 35A of the Banking […]...

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SC: Dispute of Inheritance of Shares is a Civil dispute- cannot be decided under Companies Act

The Supreme Court on 6 th July 2020 in the case of Aruna Oswalvs Pankaj Oswal has categorically held that dispute about inheritance of shares is a civil dispute and the same cannot be decided in proceedings under Section 241/ 242 of Companies Act, 2013. The brief facts of the case are that Late Abhey […]...

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Posted Under: CA, CS, CMA |

Direct & Indirect Taxes Updates- June 2020

Direct & Indirect Taxes Updates- June 2020 DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♣ Extension of due dates w.r.t. ITR filing for FY2018-19, TDS/ TCS returns due dates for Q4- FY 19-20. Details given below- Particulars Earlier due date Updated due date ITR filing for FY 18-19 30th June 2020 3...

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Posted Under: CA, CS, CMA |

Income Tax Updates – March to June 2020

NEWS DIRECT TAX 1. Employee opting for Sec. 115BAC eligible to claim exemption for tour, travel and conveyance exp. [Ref: NOTIFICATION NO. G.S.R. 415(E) [NO. 38/2020/F.NO.370142/15/2020-TPL], DATED 26-6-2020] 2. CBDT further extends various due dates for compliance under Income-tax Act. [Ref: NOTIFICATION S.O. 2033(E) [NO. 35 /2020/F. NO....

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Posted Under: CA, CS, CMA |

Can Set Aside Domestic Award, If Irrational And Perverse: SC

Patel Engineering Ltd. Vs North Eastern Electric Power Corporation Ltd. (“NEEPCO”) (Supreme Court)

An arbitral tribunal must decide in accordance with the terms of the contract, but if an arbitrator construes a term of the contract in a reasonable manner, it will not mean that the award can be set aside on this ground. Construction of the terms of a contract is primarily for an arbitrator to decide unless the arbitrator construes the c...

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Constitutional validity of clause (f) of Section 43B of Income Tax Act, 1961

Union of India & Ors. Vs Exide Industries Limited & Anr. (Supreme Court)

The real crux of the case is understanding of Section 43B of the Act and object of legislation behind inserting clause (f) to Section 43B of the Act which has been very clearly explained in detail. Court also stated that that mere inclusion of clause (f) to Section 43B of the Act will not put an embargo or restrictions on the assessee to ...

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Purchase Tax payable on Purchase of Empty Bottles from unregistered dealers by Beer/IMFL Manufacturers: SC

Commercial Tax Officer & Anr. Vs Mohan Brewaries and Distrilleries Ltd. (Supreme Court)

Commercial Tax Officer & Anr. Vs Mohan Brewaries and Distrilleries Ltd. (Supreme Court) Appeal filed by the revenue (Civil Appeal No. 7164 of 2013) is partly allowed by holding that the purchase turnover of the empty bottles purchased by the assessee from the unregistered dealers under bought note is exigible to purchase tax under Sec...

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SC: Remember to change records after vehicle sale or be liable to pay for mishap

We all own a vehicle of our own. We sell our used vehicles or sometimes we  purchase used vehicles. But do we ensure that the vehicles are duly transferred in the name of the purchasers in the records of the Registration Department? Perhaps the answer is ‘NO’ because we are not aware of the legal […]...

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Posted Under: CA, CS, CMA |

SC to ICAI: Be Flexible on CA Exam ‘Opt Out’ Option

Anubha Shrivastava Sahai Vs The Institute Of Chartered Accountants of India (ICAI) & Ors. (Supreme Court)

Anubha Shrivastava Sahai Vs ICAI & Ors. (Supreme Court) As per sources During the hearing SC said to ICAI that those students who have not opted out can appear for ICAI exam, but those who cannot appear although not opted out should be considered as an opt out student and be adjusted in November. Advocate […]...

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Whether writing of bad debts in accounts sufficient to claim deduction U/s. 36(1)(Vii)?

The Delhi High Court, has held in CIT vs. Samara India(P) Ltd. (2013) 216 Taxman 93 , following the decision of Supreme Court in T.R.F. Ltd. Vs. CIT(2010) 323 ITR 397:190 Taxman 391(SC), that for an assessee to claim deduction in relation to bad debts it is, now, no longer necessary to establish that debt had become irrecoverable and it i...

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Posted Under: CA, CS, CMA |

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