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...
Income Tax : Supreme Court modified compensation by reassessing a self-employed deceased’s annual income after considering ITRs and business ...
Corporate Law : SC allowed the appeal and granted NDPS bail after holding that a case for bail was made out, subject to Trial Court conditions....
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 : 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...
Provisions of Section 142(2C) as they stood prior to the amendment which was enacted with effect from 1 April 2008 by the Finance Act, 2008 did not preclude the exercise of jurisdiction and authority by AO to extend time for the submission of the audit report directed under sub-section (2A), without an application by assessee. Thus, AO who prescribed time limit for filing auditor’s report under Section 142(2A) was also entitled to extend time limit even if extension was not sought by assessee.
PCIT Tax Vs M/s. Oil Industry Development Board (Supreme Court) Hon’ble supreme court held that in the absence of any exempt income, disallowance under Section 14-A of the Act of any amount was not permissible. FULL TEXT OF THE SUPREME COURT JUDGEMENT Delay condoned. In view of the decision of this Court in Commissioner of Income […]
G Ramesh Vs Kanike Harish Kumar Ujwal & Anr. (Supreme Court of India) In terms of the explanation to Section 141, the expression ‘company’ has been defined to mean any body corporate and to include a firm or other association of Sub-section (1) of Section 141 postulates that where an offence is committed under Section […]
Presumption that investment is made out of interest free funds is possible when Interest free funds is available with the assessee.
C.I.T. Bombay Vs Tasgaon Taluka S.S.K.Ltd. (Supreme Court of India) Conclusion: AO was directed while determining sugarcane purchase price paid to the cane growers by the assessee-society to take into account the manner in which the business works, the modalities and manner in which SAP/additional purchase price/final price were decided and to determine what amount […]
SFIO Vs Rahul Modi (Supreme Court of India) 1. Leave granted. 2. These Appeals challenge the correctness of the common interim order dated 20.12.2018 passed by the High Court of Delhi at New Delhi in Writ Petition (Crl.) Nos.3842 and 3843 of 2018. 3. In exercise of powers conferred by Section 212(1)(c) of the Companies […]
Kolkata West International City Pvt Ltd Vs Devasis Rudra (Supreme Court of India) In terms of the agreement, the date for handing over possession was 31 December 2008, with a grace period of six months. Even in 2011, when the buyer filed a consumer complaint, he was ready and willing to accept possession. It would […]
CIT Vs Ms Gopal Shri Scrips Pvt. Ltd. (Supreme Court) The short question, which arises for consideration in this appeal, is whether the High Court was justified in dismissing the appeal filed by the Income Tax Department on the ground that it has rendered infructuous. Having heard the learned counsel for the appellant (Income Tax […]
Most of the establishments consider Basic wages and Dearness Allowance for PF contribution by the employee and the employer, since The EPF Act is in force. (more than 65 years.) The Honorable Supreme Court has given a decision on 28-02-2019 about which allowances are to be included in addition to Basic + DA, in PF wages for contribution […]
Merely because assessee company had filed all primary evidence, it could not be said that onus on assessee to establish credit worthiness of investor companies stood discharged u/s 68 of the Income Tax Act, 1961.
