Goods and Services Tax : Supreme Court upheld Section 69 GST arrest powers, requiring recorded reasons, CrPC safeguards, CBIC instructions and limiting arr...
Income Tax : The Supreme Court held excise duty paid by buyers formed part of turnover, discussed colourable devices, and distinguished legitim...
Corporate Law : A non-speaking dismissal of an SLP does not affirm the High Court's reasoning or constitute law under Article 141. The doctrine of...
Corporate Law : The Supreme Court ruled that summoning hotel booking records and call detail records to prove adultery does not violate privacy, a...
Corporate Law : The Supreme Court agreed to examine allegations that bank dues were settled at steep discounts through ARCs, while clarifying that...
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...
Corporate Law : SC clarifies limits of High Court's writ powers in IBC cases and recognises Indian CIRP as foreign main proceeding in cross-border...
Corporate Law : Justice BR Gavai sworn in as India's 52nd Chief Justice. Focus areas include addressing case pendency and improving court infrastr...
Corporate Law : Key IBC case law updates from Oct-Dec 2024, covering Supreme Court and High Court decisions on CoC powers, resolution plans, relat...
Corporate Law : SC held a Ministers statement binds the Government only if it reflects the Governments view and declined to issue speech guideline...
Corporate Law : Supreme Court granted bail under the PMLA, noting prolonged custody, documentary evidence, delayed trial, parity with co-accused, ...
Corporate Law : Supreme Court set aside the High Court's PMLA bail order for failure to apply Section 45 twin conditions and remanded the matter f...
Corporate Law : Supreme Court declined to refer the Article 370 challenge to a larger Bench, holding there was no conflict between earlier Constit...
Corporate Law : Supreme Court upheld termination of a slum redevelopment developer for prolonged delay and reaffirmed the statutory duty and accou...
Corporate Law : The Bill seeks to amend Articles 15 and 16 to allow reservation for backward classes proportionate to their population identified ...
Fema / RBI : RBI directs banks, NBFCs, and other entities to implement Supreme Court’s accessibility guidelines for digital KYC, ensuring inc...
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 : No restrictions on joint bank accounts or nominations for the queer community, as clarified by the Supreme Court and RBI in August...
Corporate Law : Supreme Court of India introduces new procedures for case adjournments effective 14th February 2024, detailing strict guidelines a...
The Court held that investors seeking assured returns and buy-back benefits cannot masquerade as homebuyers to initiate insolvency proceedings. The key takeaway is that IBC protection is reserved for genuine allottees, not profit-driven investors.
The Supreme Court declined to interfere with the Karnataka High Court’s judgment, which had held that the issues raised by the Revenue were already settled by precedent in the assessee’s own case.
The Court held that a delay of about 2200 days could not be condoned in the absence of sufficient cause. It restored the Trial Court’s order rejecting the recall application due to prolonged and unexplained inaction.
Sanand Properties P. Ltd. Vs Jt. Commr. of I.T. Range 6 And Ors. (Supreme Court of India) Reopening of Assessment Valid Because Survey Unearthed Fresh Tangible Material: SC; 35% Share Taxable as Revenue Since Expenses Never Reduced Entitlement: SC; Receipts Linked to Gross Sales Held Taxable as Business Income, Not Profit Share; Assessment Reopening Sustained […]
The Supreme Court refused to interfere with the High Court’s ruling that reassessment under Section 147 lacked a valid basis. The courts found that the assessee had never claimed Section 10(38) exemption on the alleged penny stock gains.
The Supreme Court held that a later judgment modifying the legal position cannot, by itself, justify review of concluded cases. Relying on Order XLVII Rule 1 CPC, it dismissed the review petition and refused liberty to seek review.
The Supreme Court held that a stay on recovery proceedings only suspends enforcement and does not wipe out the obligation to pay interest on excise arrears. The beneficiary of an interim order must restore the successful party to the position it would have occupied otherwise.
The Supreme Court held that final judgments cannot be reviewed merely because the legal position later changes. It ruled that the overruling of an earlier precedent does not satisfy the requirements for review under Order XLVII CPC.
The Supreme Court declined to interfere with the High Court’s order rejecting anticipatory bail in a GST matter involving liability below ₹5 crore. The ruling reaffirmed that offences falling below the statutory threshold are treated as non-cognizable and bailable under Section 132 of the CGST Act.
Supreme Court held a levy is a fee only when linked to a specific service or benefit. Absence of quid pro quo makes it a tax, regardless of label.
