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...
Supreme Court held that the rate of local tax can exceed the limits under the Central Sales Tax Act, 1956 on gutkha and pan masala.
Supreme Court held that medicated talcum powder is not a medicinal preparation, drug or medicine, the same is classifiable in the category of cosmetics.
Right of an accused under Customs Act, 1962 to settle dispute as per provisions contained under chapter XIV A of the Customs Act.
Assessee continued to be granted the exemption under Section 12A of the Act. It is the case on behalf of the appellant that till 1987 there was no requirement of issuance of any certificate of registration of Section 12A and only filing an application for registration under Section 12A and processing the same by the Department was sufficient.
An application has been filed by the Government of NCT of Delhi for permission to utilize Rs.500 crores of Environment Compensation Charge (ECC) Fund towards the payment of Delhi -Meerut RRTS project.
DCIT Vs U.K. Paints (Overseas) Ltd. (Supreme Court of India) As found by the High Court in none of the cases any incriminating material was found during the search either from the Assessee or from third party. In that view of the matter, as such, the assessments under Section 153-C of the Act are rightly […]
Vistra ITCL (India) LTD Vs Dinkar Venkatasubramanian (Supreme Court of India) The difficulty which arises in the present case is that, in terms of the decision of this Court in Anuj Jain (supra) and Phoenix ARC (supra), Appellant No. 1 Vistra is to be treated as a secured creditor, but would not fall under the […]
Next Education India Private Limited Vs K12 Techno Services Private Limited (Supreme Court of India) Feeling aggrieved and dissatisfied with the impugned judgment and order dated 17-03-2021 passed by the National Company Law Appellate Tribunal (NCLAT), New Delhi, Principal Bench in Company Appeal (AT) (Insolvency) No.98/2019, by which the NCLAT has dismissed the said appeal […]
Supreme Court held that addition u/s 69C as unexplained income sustained as based on search conducted in group concern it was found that assessee was maintaining the books of accounts outside regular books.
Appeals against every ITAT decision shall lie only before High Court within whose jurisdiction AO who passed assessment order is situated: SC
