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...
In the case of M/S. Jaswal Neco Ltd. Vs. Commissioner Of Customs , it was held by Supreme Court that anti-dumping duty could not be added for computing customs duty, Special Customs Duty and Special Additional Duty by referring to the judgment in the case of Commissioner of Customs
In the case of D.R. Enterprises Ltd. Vs. Assistant Collector Of Customs And Ors, it was held by Supreme Court that the powers of the High Court under Article 226 of the Constitution, while issuing appropriate writs, are very wide.
It has been held in case of COMMISSIONER OF CUSTOMS (IMPORT), RAIGAD V/s. M/S. FINACORD CHEMICALS (P) LTD. & ORS by supreme court that,As per the Department, these imports were under invoiced at pound 1.40 per litre whereas the actual price of the said goods was pound 3.78 per litre.
In the case of CCE V/s. M/s. Dalmia Cement (Bharat) Ltd., the Hon’ble Supreme Court of India held that Section 11B of the Central Excise Act, as amended, applies to the cases where though an order has been passed directing refund, implementation of the order is pending.
Supreme Court held in Himalayan Cooperative Group Housing Society Vs Balwan Singh that the lawyers owe fiduciary duties to their clients, so they should act with the express consent of clients. Lawyers should not make any commitment without the consent of their clients and any commitment
Victory Aqua Farm Ltd vs ACIT (Supreme Court) The assessee has claimed depreciation in respect of these ponds by contending that these prawn ponds are tools to its business and therefore constitute ‘plant’ within the meaning of Section 32 of the Income-tax Act, 1961.
In the case of CIT vs M/s.Meghalaya Steels Ltd. the Supreme Court held that High Courts being Courts of Record under Article 215 of the Constitution of India, the power of review would in fact inhere in them.
In the case of M/s Jayaswal Neco Ltd. V/s Commissioner of Central Excise it was held by Supreme Court that even during the period when the facility of payment of excise duty in instalments on fortnightly basis is not available and remains suspended
In the case of Commissioner, Central Excise & Customs, Kerala Vs. M/s Larsen & Toubro Ltd., it was held by Supreme Court that service tax cannot be levied on indivisible works contracts prior to introduction, on 1st June, 2007.
In the case of M/s. Satnam Overseas Ltd. V/s. Commnr. of Central Excise it was held by Supreme Court that mere addition in the value after the original product has undergone certain process, would not bring it within the definition of ‘manufacture’ unless its original identity also under goes transformation and it becomes a distinctive and new product.
