supreme court judgements

A snapshot on Essar’s Judgement by SC -Decoded

Income Tax - Supreme Court allowed appeal filed by Committee of Creditors of Essar Steel Indian and had set aside the Order of National Company Law Appellate Tribunal, the Hon’ble Supreme Court made several important findings and rulings as under:...

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Income Tax Updates for the Month of August 2019

Income Tax - NEWS INTERNATIONAL 1. Australian Taxation Office publishes important guidance on cross-border tax measures 2. Singapore, Turkmenistan sign comprehensive tax treaty 3. Zimbabwe proposes amendments to thin capitalization rules. 4. Bulgarian mandatory transfer pricing documentation rules enacted 5. USA and Curacao negotiating country-by-coun...

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Income Tax Updates for July 2019

Income Tax - NEWS – DIRECT TAX 1. Income Tax Department detects foreign assets in recent search. 2. NR earning income from investment fund set up in IFSC is exempt from filing of ITR. 3. CBDT extends due date for filing of ITR from 31-07-2019 to 31-08-2019. 4. Income earned by NR from off-shore investments routed through Category […]...

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Homebuyers’ Rights as Financial Creditors under IBC upheld by SC

Income Tax - Pioneer Urban Land and Infrastructure Limited & Anr. Vs. Union of India & Ors. (Suprme Court) Homebuyers’ Rights as Financial Creditors under IBC upheld by Supreme Court A Major Win for Homebuyers! The August 9 verdict of the Supreme Court, validating the amendment in the Insolvency and Bankruptcy Code (IBC), conferring the righ...

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Income Tax Updates for June 2019

Income Tax - NEWS  DIRECT TAX 1. CBDT clarified that an assessee is entitled to claim set-off of loss against income determined under section 115BBE of the Act till the assessment year 2016-17. [Ref: Circular no 11/2019 [F.NO.225/45/2019-ITA.II], Dated 19-6-2019] 2. CBDT issues revised guidelines for compounding of offences under Direct Tax Laws [Re...

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Compilation of Income Tax Case Laws for Departmental Officers

Income Tax - ‘Decision Kit for Departmental Officers’ is brought out for the use of the Officers of the Department. This is compiled by Shri Y.V.S.T.Sai, I.R.S., Commissioner of Income Tax, Hyderabad. This compilation book would serve as a ready reference and handy tool to the Officers of the Department in their core functions. As it is often [&he...

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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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Appeal maintainable against determination of Section 115QA liability: SC

Genpact India Private Limited Vs DCIT (Supreme Court) - Genpact India Private Limited Vs DCIT (Supreme Court) Section 115QA of the Income Tax Act, 1961 stipulates that in case of buy back of shares referred to in the provisions of said Section, the company shall be liable to pay additional income tax at the rate of 20% on the distributed income. Any dete...

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HC should not have entertained writ challenging Goods Seized under GST: SC

State of Uttar Pradesh and Ors. Vs Kay Pan Fragrance Pvt. Ltd. (Supreme Court of India) - State of Uttar Pradesh and Ors. Vs Kay Pan Fragrance Pvt. Ltd. (Supreme Court of India) In the first place, we find force in the submission canvassed by the State that a complete mechanism is predicated in the Act and the Rules for release and disposal of the seized goods and for which reason, the [...

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No concealment penalty even for not disclosing income in ITR if shown in balance sheet

PCIT Vs Trisha Krishnan (Madras High Court) - Assessee, in the instant case, has not concealed the income deliberately (particularly in the light of the fact that advances have been shown in the balance sheet filed even along with the original return) and therefore, is not liable for imposition of penalty under Section 271(1)(c) of the IT Act....

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Assessment order framed in the name of non-existing person was void ab initio

Pr. CIT Vs Maruti Suzuki India Ltd. (Supreme Court) - Notice under section 143(2) under which jurisdiction was assumed by AO was issued to a non-existent company. The assessment order was also issued against amalgamating company. This was a substantive illegality and not a procedural violation of the nature adverted to in section 292B. Accordingly, ass...

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Condonation of delay of 1754 days: SC accepts Stand of Applicant as Respondent not refuted the same

Senior Bhosale Estate (HUF) Vs ACIT (Supreme Court of India) - Senior Bhosale Estate (HUF) Vs ACIT (Supreme Court) Condonation of delay in filing appeal(s) against common order dated 29.12.2003 passed by Income Tax Appellate Authority being barred by 1754 days.: If the stand of the Applicant in the Affidavit that he had no knowledge about the passing of the ord...

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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"

Appeal maintainable against determination of Section 115QA liability: SC

Genpact India Private Limited Vs DCIT (Supreme Court)

Genpact India Private Limited Vs DCIT (Supreme Court) Section 115QA of the Income Tax Act, 1961 stipulates that in case of buy back of shares referred to in the provisions of said Section, the company shall be liable to pay additional income tax at the rate of 20% on the distributed income. Any determination in […]...

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HC should not have entertained writ challenging Goods Seized under GST: SC

State of Uttar Pradesh and Ors. Vs Kay Pan Fragrance Pvt. Ltd. (Supreme Court of India)

State of Uttar Pradesh and Ors. Vs Kay Pan Fragrance Pvt. Ltd. (Supreme Court of India) In the first place, we find force in the submission canvassed by the State that a complete mechanism is predicated in the Act and the Rules for release and disposal of the seized goods and for which reason, the […]...

Read More

No concealment penalty even for not disclosing income in ITR if shown in balance sheet

PCIT Vs Trisha Krishnan (Madras High Court)

Assessee, in the instant case, has not concealed the income deliberately (particularly in the light of the fact that advances have been shown in the balance sheet filed even along with the original return) and therefore, is not liable for imposition of penalty under Section 271(1)(c) of the IT Act....

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Assessment order framed in the name of non-existing person was void ab initio

Pr. CIT Vs Maruti Suzuki India Ltd. (Supreme Court)

Notice under section 143(2) under which jurisdiction was assumed by AO was issued to a non-existent company. The assessment order was also issued against amalgamating company. This was a substantive illegality and not a procedural violation of the nature adverted to in section 292B. Accordingly, assessment order framed in the name of non-...

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Condonation of delay of 1754 days: SC accepts Stand of Applicant as Respondent not refuted the same

Senior Bhosale Estate (HUF) Vs ACIT (Supreme Court of India)

Senior Bhosale Estate (HUF) Vs ACIT (Supreme Court) Condonation of delay in filing appeal(s) against common order dated 29.12.2003 passed by Income Tax Appellate Authority being barred by 1754 days.: If the stand of the Applicant in the Affidavit that he had no knowledge about the passing of the order is not expressly refuted by […...

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Supreme Court Judgment on Tribunals & Finance Act 2017 (Read)

Rojer Mathew Vs South Indian Bank Ltd. & Ors. (Supreme Court)

Rojer Mathew Vs South Indian Bank Ltd. & Ors. (Supreme Court) 1. Leave granted. BRIEF BACKGROUND: 2. In the present batch of cases, the constitutionality of Part XIV of the Finance Act, 2017 and of the rules framed in consonance has been assailed. While it would be repetitious to reproduce the pleadings of each case […]...

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SC sets aside NCLAT order in Essar Steel Insolvency case, ArcelorMittal resolution allowed to continue

Committee of Creditors of Essar Steel India Limited Vs Satish Kumar Gupta & Ors. (Supreme Court)

The resolution plan submitted by ArcelorMittal on 02.04.2018 proposed an upfront payment of INR 35,000 crores towards resolution of the debt of INR 49,213 crores of financial creditors. This was buttressed by a letter of commitment from Credit Agricole Corporate and Investment Bank. From this upfront cash recovery, unsecured financial cre...

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A snapshot on Essar’s Judgement by SC -Decoded

Supreme Court allowed appeal filed by Committee of Creditors of Essar Steel Indian and had set aside the Order of National Company Law Appellate Tribunal, the Hon’ble Supreme Court made several important findings and rulings as under:...

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Posted Under: Corporate Law |

Chief Justice of India is a public authority and covered under RTI : SC

CPIO, Supreme Court Vs Subhash Chandra Agarwal (Supreme Court)

Transparency and openness in judicial appointments juxtaposed with confidentiality of deliberations remain one of the most delicate and complex areas. Clearly, the position is progressive as well as evolving as steps have been taken to make the selection and appointment process more transparent and open. Notably, there has been a change a...

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Supreme Court dismisses Rafale Review Petitions (Read Judgment)

Yashwant Sinha & Ors. Vs Central Bureau of Investigation (Supreme Court)

Yashwant Sinha & Ors. Vs CBI (Supreme Court) (I.A. No. 63168/2019 – EXEMPTION FROM FILING O.T., I.A.  No.71678/2019 – EXEMPTION FROM FILING O.T. and I.A. No.  66253/2019 – EXEMPTION FROM FILING O.T.) 1. Allowed subject to just exception. MA 58/2019 in W.P.(Crl.) No. 225/2018 (PIL-W) (I.A. No.  182576/2018 – CORRECTION OF MI...

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