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...
Parthasarathy Vs E Springs Avenues Pvt. Ltd. (Supreme Court) Supreme Court held High Court has no jurisdiction under Section 37 of the Arbitration and Conciliation Act, 1996 to remand the matter to the same Arbitrator unless it is consented by both the parties that the matter be remanded to the same Arbitrator. FULL TEXT OF […]
Authority For Clarification and Advance Ruling Vs Aakavi Spinning Mills (P) Ltd (Supreme Court) As noticed, the Entry in question, as inserted into the Fourth Schedule to the Act, is clear and specific that is, Hank Yarn; it carries neither any ambiguity nor any confusion. Undoubtably, the yarn in the hank form (which is a […]
Vodafone Idea Cellular Ltd. vs Ajay Kumar Agarwal (Supreme Court of India) HELD THAT : It would be open to a consumer to opt for the remedy of arbitration , but there is no compulsion in law to do so and it would be open to a consumer to seek recourse to the remedies which […]
Adiraj Manpower Services Pvt. Ltd. Vs Commissioner of Central Excise (Supreme Court) The appellant has sought the benefit of Notification No. 25/2012-Service Tax dated 20 June 2012. Under the terms of the notification, the Central Government exempted certain taxable services from the whole of the service tax leviable under Section 66(B) of the Finance Act […]
बजट में इस बार प्रस्तावित किया गया कि दवाई कंपनियां डाक्टरों को जो भी गिफ्ट फ्रिबीज़ देंगी, वह न केवल डाक्टर की आय में जोड़ा जाएगा, साथ ही इसका खर्च कंपनियों को आयकर के अन्तर्गत मान्य नहीं होगा. इंडियन मेडिकल काउंसिल के विनियमन, 2002 के उपनियम के मुताबिक डॉक्टरों को फार्मा कंपनियां का फ्रीबी देना […]
Kirti & Anr. Etc. Vs Oriental Insurance Company Ltd (Supreme Court of India) Appeal Number : Civil Appeal No.19-20 of 2021 Date of Judgement/Order : 05/01/2021 HELD THAT : In the recent case passed by the three-judge bench of the Supreme Court on 5 January 2021, the court granted future prospects even in cases of […]
Punjab National Bank Vs Union of India & Ors. (Supreme Court of India) Evidently, prior to insertion of Section 11E in the Central Excise Act, 1944 w.e.f. 08.04.2011, there was no provision in the Act of 1944 inter alia, providing for First Charge on the property of the Assessee or any person under the Act […]
It could thus be seen, that when a person avails a service for a commercial purpose, to come within the meaning of ‘consumer’ as defined in the said Act, he will have to establish that the services were availed exclusively for the purposes of earning his livelihood by means of self-employment. There cannot be any straitjacket formula and such a question will have to be decided in the facts of each case, depending upon the evidence placed on record.
Mahindra and Mahindra Financial Services Ltd. Vs State of U.P. (Supreme Court) As per Section 2(h) of the Act,1997 read with Section 2(30) of the Act, 1988, even a person in possession of the vehicle under the hire-purchase agreement or an agreement of sell or an agreement of hypothecation can also be said to be […]
Supreme Court disallows tax benefits to pharmaceutical company gifting freebies to doctors. Impact on public policy and professional conduct discussed. Full judgment
