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...
As the accused-respondents have been granted the privilege of pre-arrest bail by the High Court by the impugned orders, at this stage, we are not inclined to interfere with the same. However, we make it clear that the High Courts while entertaining such request in future, will keep in mind that this Court by order dated 27.5.2019 passed in SLP(Crl.) No. 4430/2019 had dismissed the special leave petition filed against the judgment and order of the Telangana High Court in a similar matter, wherein the High Court of Telangana had taken a view contrary to what has been held by the High Court in the present case.
Commissioner of Commercial Taxes Vs Ms Aswini Homeo Pharmacy (Supreme Court) The fact that the respondent is using the Homeopathic Pharmacopoeia referred to earlier in manufacturing of the hair oil has not been traversed by the appellant. Neither has the Commissioner dealt with that contention of the respondent nor was such a plea taken before […]
CIT Vs. M/s Gujarat Cypromet Ltd. (Supreme Court of India) The conversion of outstanding interest into loan does not amount to actual payment of the interest in order to qualify for deduction in view of the retrospective insertion of Explanation 3C to Section 43B of Income Tax Act, 1961. FULL TEXT OF THE SUPREME COURT […]
Supreme Court has upheld Telangana High Court judgment in the case of P.V. Ramana Reddy Vs Union of India & Ors. that held that a person can be arrested by the competent authority in cases of Goods and Service Tax (GST) evasion.
Pr. CIT Vs M/s Yes Bank Ltd. (Supreme Court of India) The main issue involved in this appeal, as rightly taken note of by the High Court in para 6, was with regard to the applicability of Section 35-D of the Act to the respondent assessee(Bank). It was, however, not decided. In our view, the […]
Mangathai Ammal (Died) through LRs Vs Rajeswari & Others (Supreme Court) In the case of Jaydayal Poddar it is held that the burden of proving that a particular sale is benami and the apparent purchaser is not the real owner, always rests on the person asserting it to be sold. In P. Leelavathi it is […]
It is also observed that they did not disclose the value of the free supply material in their ST-3 returns. This is not the case where the issue was under litigation or there is any interpretation of law involved for the reason that all the judgments relied upon by the appellant are on different facts and as per the Works Contract Rules, the provision is clear that the material used whether supplied for consideration or otherwise, should be included, therefore there is no ambiguity in the legal provision.
Advocate Akhilesh Kumar Sah PCIT Vs Nokia India Pvt. Ltd (Supreme Court of India) In PCIT vs. Nokia India Pvt. Ltd. [Civil Appeal No. 3450 Of 2019 (Arising out of S.L.P.(C) No.32222 of 2017), decided on 08.04.2019], appeal was filed against the final judgment and order dated 21.04.2017 passed by […]
CIT Vs. Ram Kishan Dass (Supreme Court) Facts of the case Revenue is in appeal against Delhi High Court order holding that proviso to section 142(2C) authorizing AO to extend the time limit suo moto w.e.f. 01-04-2008 is prospective in nature and therefore AO can extend time for special audit on application of assessee and not […]
PR. CIT Vs A. A. Estate Pvt. Ltd (Supreme Court) There lies a distinction between the questions proposed by the appellant for admission of the appeal and the questions framed by the Court. The questions, which are proposed by the appellant, fall under Section 260A (2) (c) of the Act whereas the questions framed by […]
