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...
Arjab Jena@ Arjab Kumar Jena Vs. Utsa Jena @ Pattnaik (Supreme Court of India) We disapprove the observations made in the impugned order which refer to the comments made during the course of the mediation or settlement proceedings. The High Court should not have taken the aforesaid comments on record, as the same would impede […]
Export Oriented Unit (EOU) is not entitled to claim refund of Terminal Excise Duty (TED) on its own, however, adds a caveat that EOU may avail of the entitlements of Domestic Tariff Area (DTA) supplier specified in Chapter 8 of Foreign Trade Policy (FTP) on condition that it will not pass on that benefit back to DTA supplier later on.
Rajasthan Marudhara Gramin Bank (RMGB) and Anr. Vs Ramesh Chandra Meena & Anr. (Supreme Court of India) Facts- While working as Branch Manager, it was alleged that he committed irregularities while granting loans to farmers/ villagers under loan scheme. He didn’t take adequate precautions and without writing mandates of borrowers, he transferred the loan amount in […]
We are not inclined to entertain the petitions under Article 32 of the Constitution in the first instance before this Court. The petitioners have an alternate and efficacious remedy of moving the concerned High Courts under Article 226 of the Constitution.
It is one thing to say that Section 45 of the PMLA Act to offences under the ordinary law would not get attracted but once the prayer for anticipatory bail is made in connection with offence under the PMLA Act, the underlying principles and rigors of Section 45 of the PMLA Act must get triggered — although the application is under Section 438 of Code of Criminal Procedure.
Kerala State Beverages Manufacturing & Marketing Corporation Ltd. Vs ACIT (Supreme Court of India) So far as surcharge on sales tax is concerned, the High Court has held in favour of KSBC and against the revenue. The reasoning of the High Court is that surcharge on sales tax is a tax and Section 40(a) (iib) does not contemplate ‘tax’ and surcharge […]
Small Industries Development Bank Of India Vs. SIBCO Investment Pvt. Ltd. (Supreme Court) RBI has wide supervisory powers over financial institutions like SIDBI, in furtherance of which, any direction issued by the RBI, deriving power from the RBI Act or the Banking Regulation Act is statutorily binding on the defendant. Admittedly, the RBI issued Notification […]
Maharashtra State Road Transport Corporation Vs Dilip Uttam Jayabhay (Supreme Court of India) Therefore, the short question which is posed for the consideration of this Court is whether in the facts and circumstances of the case the punishment of dismissal can be said to be an unfair labour practice on the ground that the same […]
Employees who have refused the offer of regular promotion were disentitled to the financial upgradation benefits envisaged under the O.M. dated 9.8.1999. However, the above rule would not apply to employees who were not offered regular promotion but conditional promotion on officiating basis and subject to reversion.
Supreme Court of India has expressly overruled the judgment dated 24.06.2019 of the Hon’ble Gujarat High Court, wherein it was ruling that FORM GSTR-3B is not a return specified under Section 39 of the CGST Act.
