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...
Designated Authority & Ors. Vs. Andhra Petrochemicals Ltd. (Supreme Court) Access to judicial review is a valuable right conferred upon citizens and persons aggrieved; the Constitution arms the High Courtsand this court with powers under Articles 226 and 32. At the same time, barring exceptional features necessitating intervention in an ongoing investigation triggered by a […]
Supreme Court upholds power of CG to impose quota restrictions on imports without adjudication procedure The Apex Court in a recent decision involving importers of green and yellow peas, beans has upheld the power of the Central Government to impose quantitative restrictions on the import of goods without following the adjudication procedure. The CG in […]
Supreme Court (SC) on Forty-Four year old case and need for Vibrant system of Advance Ruling Recently, Supreme Court delivered its verdict in a Forty-Four (44) year old pending case in case of National Co-operative Development Corporation. While the interesting part of the judgment is the Two Postscripts penned down by Justice Kaul but let’s […]
National Co-Operative Development Corporation Vs. CIT (Supreme Court) The factual matrix: 1. The appellant-Corporation, National Co-operative Development Corporation, was established under the National Cooperative Development Corporation Act, 1962 (hereinafter referred to as the ‘NCDC Act’). 2. The functions of the appellant-Corporation are set out in Section 9 of the NCDC Act, which is, inter alia, […]
The issue under consideration is whether service tax will be levied on the charges collected by the Adani Gas Ltd for supply of pipes and measuring equipment to its customers u/s 65(105)(zzzzj) of the Finance Act, 1994?
L. R. Brothers Indo Flora Ltd. Vs. Commissioner of Central Excise (Supreme Court) The appellant being a 100% EOU and into manufacture of cut flowers, without obtaining the approval of the Development Commissioner and without maintaining the requisite net foreign exchange earning, made DTA sales to the extent of Rs.38,40,537/ during 1998-99 to 200001 (upto […]
Moratorium accounts not to be declared as NPA until further notice: Order by Apex Court on September 03, 2020 & September 10, 2020 The apex court heard petition of borrowers on September 03, 2020 seeking interest waiver on loan moratorium granted previously by Reserve Bank of India (“RBI”). In the backdrop of COVID-19, banks had […]
Gajendra Sharma Vs Union of India (Supreme Court ) The issue under consideration is whether the interest will be charged on loan during moratorium period which is declared by RBI due to COVID-19? As per RBI’s circular dated 27th March, 2020 the RBI has extended the moratorium period from June 01 to 31st August, 2020 […]
Union of India Vs Agricas LLP and Others etc. (Supreme Court) In the instant case, the Writ Petition is filed by challenging the imposition of restrictions on import of Peas and pulses. As per petitioner, the notifications issued by the DGFT had the effect of modifying or amending the EXIM policy as the specified items […]
Supreme Court in a recent ruling has observed that in the Motor Accident Compensation Claims, that the children and family would also be authorized for compensation under ‘Loss of consortium’ in claims of Motor Accident under the Act.
