Goods and Services Tax : The Finance Act, 2025 retrospectively amended Section 17(5)(d) of the CGST Act after the Supreme Court allowed ITC on certain comm...
Corporate Law : The Supreme Court held that liabilities arising from corporate guarantees qualify as financial debt under Section 5(8) of the Inso...
Corporate Law : The Supreme Court ruled that a shortfall payment clause in a Deed of Hypothecation can qualify as a contract of guarantee under th...
Corporate Law : The Supreme Court expressed serious reservations about earlier rulings denying bail in UAPA cases, holding that smaller benches ca...
Income Tax : The article explains the Supreme Court’s landmark 2024 ruling that broken period interest on debt securities is capital in natur...
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...
Goods and Services Tax : The Supreme Court stayed further proceedings arising from a Section 74 GST order while examining whether writ petitions can be ent...
Finance : The Supreme Court refused relief to borrowers who defaulted from the very first instalment after availing an ₹8.09 crore loan. T...
Finance : The Supreme Court upheld a Will executed in favour of the testator’s sister despite objections from his wife and children. The C...
Income Tax : SC examined nature of amounts received from an AOP and upheld findings that receipts constituted profit share rather than revenue ...
Income Tax : The Supreme Court dismissed the challenge to a Delhi High Court ruling that quashed reassessment proceedings under Sections 148A(d...
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 issues conclusively decided by multiple courts cannot be reopened by subordinate authorities. It declared such attempts as abuse of process and upheld finality of judgments.
The Supreme Court held that ambiguity in exemption notifications cannot benefit taxpayers. It ruled that such ambiguity must be resolved in favour of the Revenue, reinforcing strict interpretation principles.
The Court held that a miscellaneous application cannot be used to reopen a dismissed SLP unless it falls within limited exceptions like clerical errors or executory issues. It emphasized finality of judicial orders and dismissed the recall plea as not maintainable.
CIT & Anr. Vs MPHASIS Limited (Supreme Court of India) The Supreme Court of India dismissed a Special Leave Petition (SLP) filed by the Revenue on the ground of an unexplained delay of 600 days. The Court noted that no satisfactory explanation had been provided to justify condonation of such delay and, accordingly, dismissed the […]
The issue was whether cross-border satellite broadcasting could be taxed by a State. The Court upheld taxation based on consumption within the State, establishing that economic presence creates sufficient nexus.
The issue involved inability to access documents leading to ex parte assessment. The Court granted interim relief by reducing the pre-deposit amount. The takeaway is that procedural fairness can influence deposit requirements.
The Court held that post-facto shareholder ratification cannot legalize misuse of funds raised through disclosures. The key takeaway is that securities law violations remain enforceable despite later approvals.
The Court examined whether claims not filed during CIRP can be pursued later. It held that such claims stand extinguished upon approval of the resolution plan. The key takeaway is that only claims included in the plan survive.
For nearly three decades, the India-Mauritius DTAA of 1983 was the golden corridor for foreign capital flowing into India. At its peak, Mauritius accounted for over 30 per cent of cumulative foreign direct investment into India, a number that tells lesser about Mauritius’s economic might and screams more about the architecture of global capital structuring. […]
The issue was whether leasing to a company disqualifies exemption for residential renting. The Court held that exemption depends on end-use as residence, not the recipient. The key takeaway is that residential usage prevails over contractual structure.
