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...
Passengers travelling in vehicle cannot be held responsible for contributory negligence of the driver of the vehicle and claim cannot be reduced on the same ground. Rajendra Singh and Ors (Appelant) Vs. National Insurance Company Limited and Ors (Supreme Court)
Service charges received by assessees from the foreign enterprises did not qualify for deduction in view of clause (iii) of the Explanation to Section 80O as the services rendered by respective assessees were the ‘services rendered in India’ and not the ‘services rendered from India’ and merely having a contract with a foreign enterprise and mere earning foreign exchange did not ipso facto lead to the application of s. 80O of the Act.
The Reserve Bank of India, in view of the Covid pandemic, realised the financial emergency and liquidity crunch in our economy due to lockdown, announced moratorium for all loans for a certain period. However, there is dispute about the chargeability of interest by the Banks/ Financial Corporations on this extended period. The business entities, particularly […]
SC against misuse of frivolous Public Interest Litigation (PIL) without any supportive technical data- slaps exemplary cost Public interest litigation(PIL) is a highly effective weapon in the armory of law for imparting justice to the common man. It is a unique and unparalleled phenomenon in the Indian Constitutional Jurisprudence. It is a litigation on behalf […]
The law with regards to the DTAA and the powers of Income Tax and other administrative authorities in its implementation have evolved with the development of various judicial trends ranging from the case of McDowell, Azadi Bachao Andolan to Vodafone-Hatchison Case, to name a few.
Ficus Pax Private Limited Vs Union Of India & Ors. (Supreme Court) Hon’ble Supreme Court in an interim order passed today in the case of FICUS PAX PRIVATE LIMITED & ORS. P VERSUS UNION OF INDIA & ORS. has stated that Employers and Employees Should Try to negotiate and settle between themselves issues relating to […]
Payment to labour during lockdown: SC on June 12 asks states to facilitate negotiations between employers & employees – no coercive action till end of July A number of writs were filed in the apex court questioning the orders issued under Disaster Management Act, 2005 and consequential orders issued by different States that all industries […]
It is common knowledge that the rich & the powerful abuse the process of law by litigating settled issues repeatedly with the aid of leading advocates, knocking the doors of higher courts over trivial issues and against interlocutory orders. It is also prevalent to get the appeal/SLP admitted in the higher courts in important matters […]
Modi Government announced early Lockdown to save the country from Covid- 19. The whole world applauded his timely action. The limited number of infected people & low mortality in our country as compared to the Western world speaks volumes of the timely imposition of lockdown and remedial measures undertaken by our government. But in haste […]
Pak-Indo-Lanka, Joint Management Committee (Hereinafter, ‘PILCOM’) filed a special leave petition (Civil Appeal No. 5749/2012) in Supreme Court challenging the decision of High Court of Calcutta whereby High Court dismissed Income Tax Appeal No. 196 of 2000 and affirmed the view taken by the Income Tax Appellate Tribunal, Calcutta.
