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...
Held that once the Liquidator applies to NCLT, to adopt particular mode of sale of movable and immovable assets of the Corporate Debtor, which is approved by NCLT, there is no provision in the IBC that empowers NCLAT to suo motu conduct a judicial review of the said decision.
Held that Section 12A of the Commercial Courts Act, 2015 is mandatory and hold that any suit instituted violating the mandate of Section 12A must be visited with rejection of the plaint under Order VII Rule 11.
Learn about the Supreme Court’s decision regarding TRAN-1 and how it provides a one-time opportunity for claiming transitional credit under the GST framework.
SC held that IBC would prevail over Customs Act, and once moratorium is imposed in terms of sections 14 or 33(5) of Code, the customs authority only has a limited jurisdiction to assess/determine quantum of customs duty and other levies.
State Bank of India Vs Ajay Kumar Sood (Supreme Court of India) SC held that On the note of accessibility, the importance of making judgments accessible to persons from all sections of society, especially persons with disability needs emphasis. All judicial institutions must ensure that the judgments and orders being published by them do not […]
PCIT Vs Khyati Realtors Pvt. Ltd. (Supreme Court) Conclusion: Assessee was not entitled to claim deduction of bad debt as the case did not satisfy the ingredients of both Section 36(1)(vii) and Section 36(2) and also advance written off was not allowable as business expenditure u/s 37(1). Held: Assessee carried on real estate development business, […]
Section 3(2) of the unamended 1988 Act is declared as unconstitutional for being manifestly arbitrary. Accordingly, Section 3(2) of the 2016 Act is also unconstitutional as it is violative of Article 20(1) of the Constitution.
Whether Service Tax could be levied on Composite Works Contracts prior to the introduction of the Finance Act, by which the Finance Act, 1994 amended to introduce Section 65(105)(zzzza) pertaining to Works Contract Service.?
Held that right to cross-examine the witnesses examined on behalf of the complainant cannot be denied to an accused for his failure to deposit interim compensation.
Held that appeals against every decision of the ITAT shall lie only before the High Court within whose jurisdiction the Assessing Officer who passed the assessment order is situated. The principle remains the same even if the case of an assessee are transferred in exercise of power u/s 127.
