Goods and Services Tax : Supreme Court upheld Section 69 GST arrest powers, requiring recorded reasons, CrPC safeguards, CBIC instructions and limiting arr...
Income Tax : The Supreme Court held excise duty paid by buyers formed part of turnover, discussed colourable devices, and distinguished legitim...
Corporate Law : A non-speaking dismissal of an SLP does not affirm the High Court's reasoning or constitute law under Article 141. The doctrine of...
Corporate Law : The Supreme Court ruled that summoning hotel booking records and call detail records to prove adultery does not violate privacy, a...
Corporate Law : The Supreme Court agreed to examine allegations that bank dues were settled at steep discounts through ARCs, while clarifying that...
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...
Corporate Law : SC held a Ministers statement binds the Government only if it reflects the Governments view and declined to issue speech guideline...
Corporate Law : Supreme Court granted bail under the PMLA, noting prolonged custody, documentary evidence, delayed trial, parity with co-accused, ...
Corporate Law : Supreme Court set aside the High Court's PMLA bail order for failure to apply Section 45 twin conditions and remanded the matter f...
Corporate Law : Supreme Court declined to refer the Article 370 challenge to a larger Bench, holding there was no conflict between earlier Constit...
Corporate Law : Supreme Court upheld termination of a slum redevelopment developer for prolonged delay and reaffirmed the statutory duty and accou...
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 issued notice to the government, in a matter challenging the power of Additional Director General, Directorate of Revenue Intelligence, (ADG, DRI) as a proper officer under the Customs Act, 1962.
In the present case, the appellant clearly sought an operational service from the Proprietary Concern when it contracted with them for the supply of light fittings. Further, when the contract was terminated but the Proprietary Concern nonetheless encashed the cheque for advance payment, it gave rise to an operational debt in favor of the appellant, which now remains unpaid. Hence, the appellant is an operational creditor under Section 5(20) of the IBC.
State of Manipur & Ors. Vs Surjakumar Okram & Ors. (Supreme Court of India) Facts- The main contention in the appeal is that the declaration of the Assam Act, 2004 as unconstitutional does not per se render the 2012 Act invalid. It was argued that Bimolangshu Roy was wrongly decided and should be held to be […]
SIGNIFICANCE This case was a landmark judgement by the Supreme Court on the issue of the scope of liability to tax on the principle of estoppel. The case deals with the doctrine of ‘Approbate and Reprobate’ which in layman’s terms translates to “you can’t have your cake and eat it too.” It is further based […]
State of Kerala & Ors. Vs Laxmi Vasanth (Supreme Court of India) The Supreme Court observed that Sub-Section (5) of Section 30 of the Partnership Act shall not be applicable to a minor partner who was not a partner at the time of his attaining the majority. Sub-Section (5) of Section 30 of the Partnership […]
Indusind Bank Limited Vs Simarjit Singh (Supreme Court of India) In July 2006, the respondent-complainant, Simarjit Singh had availed a loan of Rs. 13,50,000/- from the appellant, IndusInd Bank Limited for financing a truck. The loan was repayable in equal monthly instalments of Rs. 35,150/-. The respondent committed default in payment of three instalments due […]
The AO opined that the non-refundable grants were in the nature of capital expense and not a revenue expense and, thus, disallowed the same as a deduction. What weighed with the AO was also the fact that the grants received from the Central Government were in the nature of a capital receipt exempt from tax.
The finding overlooks that no one would like to avail services of a stranger or an agent if the work, that is, transfer of KVP certificates, could be otherwise handled and done with ease. Further, no one would like to lose money to a stranger. Necessarily, we would accept that the appellants had remained in touch with Rukhsana but were given the impression that the exercise is complex and would take time. Further they had belief that the post office would take care of their interest, act in good faith and would not be negligent.
Siddharthshankar Sharma Vs Union of India (Supreme Court of India) The grievance of the petitioner that he was denied the facility of a vaccination for failure to produce an Aadhar card has also been dealt with in the counter affidavit. It has been stated that the Union Ministry of Health and Family Welfare addressed a […]
Serious Fraud Investigation Office Vs Rahul Modi (Supreme Court of India) Conclusion: The indefeasible right of an accused to seek statutory bail under Section 167(2), CrPC arose only if the charge-sheet had not been filed before the expiry of the statutory period. Held: In the instant case, investigation was directed to be conducted into the […]
