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...
Income Tax : Supreme Court modified compensation by reassessing a self-employed deceased’s annual income after considering ITRs and business ...
Corporate Law : SC allowed the appeal and granted NDPS bail after holding that a case for bail was made out, subject to Trial Court conditions....
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 : 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 Tribunal has jurisdiction to examine a question of law which arises from the facts as found by the authorities below .and having a bearing on the tax liability of the assessee . Where the tribunal is only required to consider a question of law arising from the facts ,we fail to see why such […]
As per law and reason an Appellate Authority can modify the assessment order on an additional ground not raised earlier No rigid principles or any hard and fast rules can be laid down for entertainment of additional ground first time before Appellate Commissioner.While permitting the assessee to raise an additional ground, the appellate commissioner should […]
In principle , apart from any statutory provisions, there is no distinction as drawn by the revenue , between interest in respect of a loan and an expenditure incurred for obtaining the loan . It is erroneous to consider a liability as an asset or an advantage. The nature of the expenditure incurred in raising […]
India Resurgence Arc Private Limited Vs M/s. Amit Metaliks Limited & Anr. (Supreme Court of India) “Equality” means equality among equals or within the same class. In the present facts of the case, the appellant company is said to be the assignee of the rights, title and interest carried by Religare Finvest Limited as secured […]
Whether the assessee is entitled to a particular deduction or not will depend on the provision of law relating thereto and not on the view which the assessee might take of his rights nor can the existence or absence of entries in the books of accounts be decisive or conclusive in the matter .The following […]
Actual cost to Plant & machinery before start of production in absence of statutory definition The accepted accountancy rule for determining the cost of fixed assets is to include all expenditure necessary to bring such assets into existence . Interest paid on money borrowed before start of production shall increase the cost of the asset […]
Competent Authority, after consideration of the requests received from various quarters for postponement of the Advocates-on-Record Examination, 2021 and for ensuring the safety and well-being of the candidates and the examination functionaries, has been pleased to postpone the AOR Examination which was scheduled to be held from 8th to 11th June, 2021. The fresh dates for the said Examination shall be intimated in due course.
UPPTCL had no power and authority and or jurisdiction to realize labour cess under the Cess Act in respect of the first contract by withholding dues in respect of other contracts and/or invoking a performance guarantee. The finding of the High Court was sustainable as UPPTCL acted in excess of power by its acts impugned, when there was admittedly no assessment or levy of cess under the Cess Act.
A well accepted Principle of law On going through the judgement of the Hon,ble Supreme Court in CIT, West Bengal Vs. Calcutta Discount Co. Ltd. Decided on 10.04.1973, we find two very important aspects decided by this court . 1. No specific formula is necessary for seeking relief at the hand of any court or […]
In the Supreme Court’s judgment in Paramvir Singh Saini vs. Baljit Singh and Ors. [SLP (Criminal) No. 3543 of 2020 decided on 02-12-2020], the Union of India has been directed to install CCTV cameras and recording equipment in the offices of CBI; NIA; ED;NCB;DRI;SFIO; and any other agency which carries out interrogations and has power […]
