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...
SC Held That (Motor Vehicles Act ,1988) – Third Party Insurance deemed to be transferred along with effective control over vehicle in a Hire Agreement.
Myrayash Hotels Pvt. Ltd. Vs Union of India (Supreme Court) The plea challenges the constitutional validity of GST Levy on Lease/ Rental Payments. The Supreme Court of India has asked the petitioner(s) to serve an advance copy to the Additional Solicitor General to seek instructions in a plea challenging constitutional validity of levy of GST […]
Augustan Textile Colours Limited Vs Director of Industries and Anr. (Supreme Court of India) Facts-The issue to be considered here is whether the benefit of tax exemption in respect of works contract granted in the process of revival of the industry, under the relevant provisions of the Sick Industrial Companies Act, 1985 based on the […]
CASE-1 Applicant’s Name: Khera Trading Company Citation: Advance Ruling No. HAR/HAAAR/2018-19/06 The Haryana Appellate Authority of Advance Ruling (AAAR) bench held that 18% Goods and Service Tax (GST) is payable on pizza topping as pizza topping is not pizza. BRIEF FACTS: 1. The appellant is in the business of distributing various dairy and non-dairy products […]
A negotiable instrument is a piece of paper that entitles a person to pay a sum of money that is transferable from one person to another by endorsement and delivery. The main objective before introducing the Negotiable Instrument Act, 1881 is to legalize the system under which these instruments can deliver from one person to another the same as that of ordinary goods.
Haryana Urban Development Vs Mehta Construction Company (Supreme Court of India) Sub-section (2)(a) to Section 34 of the Act inserted with effect from 23rd October 2015 states that the arbitral award may be set aside by the court if the court finds the award is vitiated by patent illegality appearing on the face of the […]
National Faceless Assessment Centre Vs Mantra Industries Limited (Supreme Court of India) Mr. Balbir Singh, learned ASG, has vehemently submitted that, against the assessment order, the High Court ought not to have entertained the Writ Petition and ought to have relegated the original writ petitioner to avail statutory remedy of appeal before the CIT(A). It […]
Ganesh Ores Pvt. Ltd. Vs The State of Odisha & Ors. (Supreme Court of India) The petitioner had filed a refund claim, which was granted by the authorities. Subsequently, a notice was issued to the petitioner for recovery of the refund granted erroneously. The petitioner submitted that the revenue authorities should have filed an appeal […]
Noel Harper & Ors Vs Union of India (Supreme Court of India) Sub-Whether amendment made to Section 7, 12(1A),12A and 17(1) of Foreign Contribution (Regulation) Act, 2010 are manifestly arbitrary, unreasonable and imprinting upon the fundamental rights guaranteed to the petitioners under Articles 14, 19 and 21 of the Constitution. SC declare that the amended […]
Apex Court, in the case of Consolidated Construction Consortium Limited vs. Hitro Energy Solutions Private Limited, was seized of the following legal questions: 1. Whether the Appellant is an Operational Creditor under the Code even though it was a ‘purchaser’; 2. Whether the Respondent took over the debt from the Proprietary Concern; and 3. Whether the application under Section 9 of the Code is barred by limitation.
