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...
The Supreme Court held that refund of GST collected and passed on to consumers must be credited to the Consumer Welfare Fund. It ruled that courts cannot create alternative refund mechanisms outside Section 54 of the CGST Act.
The Supreme Court recommended that all High Courts incorporate rules requiring accused persons to disclose involvement in previous criminal cases in bail applications. The Court also expunged adverse remarks made against a Judicial Officer, holding them uncalled for.
The Supreme Court upheld the High Court’s ruling that reassessment beyond three years requires sanction under Section 151(ii). Notices issued with approval from the wrong authority were invalid.
The Supreme Court dismissed the Revenue’s plea and affirmed that TCS under Section 206C(1C) applies only to lease or licence holders paying royalty, not to offenders paying compounding fines.
The Court upheld that sugar, edible oil and vanaspati fall within Section 2(1)(a) of the Maharashtra Marketing Act. Market fees can be levied if procurement occurs within the notified market area.
The Court found no merit in interfering with the High Court’s order setting aside a belated reassessment notice. It confirmed that notices issued after the statutory limitation period are invalid.
The Supreme Court confirmed that reassessment powers under Section 148 cannot be used to bypass the statutory scheme for search cases. The decision clarifies the distinct operating fields of Sections 153C and 148.
The Supreme Court refused to interfere with the High Court’s direction to process Section 10(46) applications. The ruling affirms that existing approval under Section 10(23C) is not an absolute bar.
The Supreme Court stayed a High Court ruling that barred parallel appeal and rectification proceedings under excise law. The case highlights limits on pursuing multiple remedies at the same time.
A GST demand was quashed as the assessee was denied an opportunity to respond due to non-service of notice. The Court allowed fresh adjudication while rejecting claims of vagueness in the notice.
