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...
South East Asia Marine Engineering and Construction Ltd. Vs Oil India Ltd. (Supreme Court) It is a settled position that a Court can set aside the award only on the grounds as provided in the Arbitration Act as interpreted by the Courts. Recently, this Court in Dyna Technologies Pvt. Ltd. v. Crompton Greaves Ltd. [2019 […]
A recent judgment of the Supreme Court in the case of PILCOM v. CIT is likely to create significant confusion if not examined from proper perspective. On a first blush it seeks to unsettle a settled law, viz. a person is not liable to deduct tax at source in relation to payment made to a non resident which is, in the hands of the payee, not chargeable to tax
The Supreme Court of India in the matter of National Agricultural Co-opeartive Marketing Federation of India(NAFED) vs Alimenta SA Ci, put forth the grounds on which Section 32 (Contingent contract”) and Section 56 (Agreement to do impossible act) of the Indian Contract Act, 1872 may be invoked in the scenario of non-performance of obligation under […]
Supreme Court directs income tax dept to refund Rs. 733 Crores to Vodafone within four weeks.
Section 4(5) of the Gratuity Act applies only when there are options for the employee under the Act and under contract with employer: Supreme Court APEX COURT DECISION IN THE MATTER OF BCH ELECTRIC LIMITED VS. PRADEEP MEHRA & ANOTHERS [CIVIL APPEAL NOS. 2379 TO 2382] The Hon’ble Apex Court held that Section 4(5) of […]
Assistant Commissioner Vs Glaxo Smith Kline Consumer Health Care Limited (Supreme Court Conclusion: Power of Supreme Court & High Court under Articles 142 and 226 to entertain a challenge to the assessment order on the sole ground that the statutory remedy of appeal against that order stood foreclosed by the law of limitation however the […]
There is no concept of constructive delivery either express or implied in section 3 of Central Sales Tax Act”. Hence, benefit cannot be denied under section 6(2) of the Central Sales Tax basis departmental circulars
Assistant Commissioner (CT) LTU Vs Glaxo Smith Kline Consumer Health Care Limited (Supreme Court) In Challenge : – Judgment of the High Court of Judicature at Hyderabad for the State of Telangana and State of Andhra Pradesh. Constitution of India – Art-226 – Writ Jurisdiction bypassing the statutory provisions – remedy against the assessment order […]
It is hereby ordered that all periods of limitation prescribed under the Arbitration and Conciliation Act, 1996 and under section 138 of the Negotiable Instruments Act 1881 shall be extended with effect from 15.03.2020 till further orders to be passed by this Court in the present proceedings.
Payments made to the Non-Resident Sports Associations represented their income which accrued or arose or was deemed to have accrued or arisen in India. Consequently, assessee was liable to deduct Tax at Source in terms of Section 194E.
