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...
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 : Supreme Court declined to refer the Article 370 challenge to a larger Bench, holding there was no conflict between earlier Constit...
Corporate Law : Supreme Court upheld termination of a slum redevelopment developer for prolonged delay and reaffirmed the statutory duty and accou...
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...
Assessee entered into an agreement to sell a property with Builders Limited for a total sale consideration of Rs.5.5 crores. Pursuant to this agreement to sell, a Power of Attorney was by which, assessee appointed one director of Builders Ltd. to execute and join in execution the necessary number of sale agreements and/or sale deeds in respect of the schedule mentioned property after developing the same into flats.
In re Cognizance for Extension of Limitation (Supreme Court) This Court has taken Suo Motu cognizance of the situation arising out of the challenge faced by the country on account of Covid-19 Virus and resultant difficulties that may be faced by litigants across the country in filing their petitions/applications/suits/ appeals/all other proceedings within the period […]
Union of India Vs P.D. Sunny & Ors. (Supreme Court of India) The Registry is directed to accept these special leave petitions against the judgment and order(s) passed by the High Court of Judicature at Kerala, Ernakulam Bench in Writ Petition (Civil) No.8231/2020 and of the High Court of Judicature at Allahabad, Allahabad Bench in […]
NEWS DIRECT TAX 1. CBDT notify the rules for making permanent account number inoperative. [Ref: Notification No.11/2020/F.No. 370149/166/2019-TPL] 2. Procedure of PAN allotment through Common Application Form (CAF) along with registration of Foreign Portfolio Investors (FPIs) with SEBl under Department of Economic Affairs and KYC for opening Bank and Demat Account. [Ref: Notification No.11/2020/F.No. Pr. […]
CA Satyaprakash Singh from Mumbai has challenged Constitutional validity of Section 9 of Vivad se Vishwas Act, 2020 by FIling a Public Interest Petition with Hon’ble Supreme Court of India. By this Public Interest Petition, the Petitioner is impugning the Constitutional validity of Section 9 of Vivad se Vishwas Act, 2020. The Respondent No.1 has […]
Connectwell Industries Pvt. Ltd. Vs Union of India (Supreme Court) It is trite law that, unless there is preference given to the Crown debt by a statute, the dues of a secured creditor have preference over Crown debts. Rule 2 of Schedule II to the Act provides for a notice to be issued to the […]
The issue pertaining to the taxability of anonymous donations received in Hundies maintained by the temple trust under Section 115BBC of Income Tax Act, 1961 is pending determination before the Commissioner of Income Tax (Appeals) for Assessment Year 2015-16.
RBI vs IMAI – SC Judgement dated 4-Mar-2020 The Supreme Court of India (SC) came out with its awaited judgement on virtual currency ruling the case in the favour of Internet and Mobile Association of India (IMAI) whereby declaring the Reserve Bank of India (RBI) circular no. RBI/2017-18/154DBR.No.BP.BC.104/08.13.102/2017-18 dated April 6, 2019 imposing a prohibition […]
CIT Vs Chetak Enterprises Pvt. Ltd. (Supreme Court) It is manifest that all properties, movable and immovable (including actionable claims) belonging to or vested in a company at the date of its registration would vest in the company as incorporated under the Act. In other words, the property acquired by a promoter can be claimed […]
In the given case, the object of the provision in question is to ensure that the activities undertaken by the Trust are not contrary to its objects and that a Commissioner is entitled to refuse registration if the activities are found contrary to the objects of the Trust
