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...
The Supreme Court issued notice in a case concerning whether reimbursement paid to a municipal corporation for road restoration after electricity line work attracts GST under reverse charge mechanism.
SC dismissed Revenue’s challenge against Calcutta HC ruling that reassessment proceedings based only on suspicion and investigation reports were invalid under Section 147.
The Supreme Court upheld deletion of addition made on estimated production yield after finding no evidence of unaccounted sales. The ruling reiterates that suspicion and assumptions cannot replace material evidence in income tax assessments.
The Supreme Court upheld the High Court ruling that approval stating fit case for reopening satisfied Section 151 requirements. The reassessment proceedings linked to alleged accommodation entries were restored.
The article explains the Supreme Court’s landmark 2024 ruling that broken period interest on debt securities is capital in nature. The judgment rejects the Revenue’s attempt to tax such receipts as interest income.
The courts upheld LTCG exemption under Section 10(38) after finding that the Revenue failed to produce evidence linking the assessee to alleged penny stock manipulation. Documentary records, banking transactions, and Demat evidence supported the genuineness of the share transactions.
The Supreme Court dismissed an SLP challenging the Telangana High Court’s refusal to entertain a GST writ petition. The Court found no reason to interfere with the High Court’s reliance on the Glaxo Smith Kline precedent.
The Supreme Court dismissed the Revenue’s SLP after the Calcutta High Court upheld the ITAT finding that reassessment proceedings were invalid as the AO had only suspicion and no valid reason to believe income escaped assessment.
The Supreme Court quashed criminal proceedings pending for 35 years, holding that prolonged prosecution violated the right to speedy trial under Article 21. The Court also sought extensive data from the Allahabad High Court on criminal pendency, undertrials, bail applications, and judicial vacancies.
The Supreme Court dismissed the Revenue’s appeals after observing that the classification dispute had already been settled in an earlier judgment upheld by the Court. The ruling confirms reliance on the precedent followed by CESTAT.
