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 court upheld the quashing of a reassessment notice where the reasons were based on vague portal information without a live nexus to income escapement. The ruling reiterates that reopening cannot rest on fishing or roving inquiries.
The court held that challenges to deletion of Section 68 additions were factual in nature and raised no substantial question of law, leading to dismissal of the Revenue’s appeal.
SC dismissed SLP due to huge delay with costs. HC had quashed reassessment since it was issued despite stay on further proceedings.
The SC held that pending settlement proceedings do not bar restoration of income tax appeals. ITAT was justified in condoning delay and reviving appeals, subject to keeping them in abeyance.
The SC refused to interfere with the High Court’s ruling that reassessment notices issued on incorrect facts and without supporting material were invalid. The key takeaway is that mechanical reopening cannot survive judicial scrutiny.
The Supreme Court dismissed the Revenue’s appeal solely on account of unexplained delay, leaving the High Court’s decision undisturbed and reinforcing procedural discipline in tax litigation.
The Supreme Court upheld the centralisation of assessments under Section 127, holding that transfer for coordinated investigation following a search was justified. The ruling confirms that disclosed reasons and factual linkage are sufficient to sustain jurisdictional transfer.
The Court admitted the Revenue’s appeal against a tribunal ruling that set aside excise demands as revenue neutral. The key takeaway is that the legal question on valuation under Rules 8 and 9 remains open for final determination.
The Supreme Court held that purchasers who acquire property during pending litigation are bound by the decree and cannot obstruct execution of possession. Transfers made pendente lite remain subservient to the final decree and do not create independent rights against the decree holder.
The Supreme Court dismissed the Revenue’s appeal due to unexplained delay. This left intact the High Court ruling quashing reassessment based on a rejected share valuation.
