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 this case assessee with an intention to shift its industrial undertaking from urban to non-urban area sold its land, plant & machinery, building etc. and out of capital gain earned he made advance payments to various persons to purchase land, plant & machinery, building etc.
The Hon’ble Supreme Court in the case of Tata Chemicals Ltd. held that the power given to custom authorities u/s 18 of Customs Act,1962 can be exercised only when the proper officer deem it necessary to subject the goods to further tests.
The Hon’ble Supreme court in the case of Secure Meters held that parts and accessories which are goods included in the heading of the Chapter 90, are to be classified in their respective headings. The end of such goods is not determinative of its classification.
Hon’ble Supreme court in the case of K.R.C.D Pvt. Ltd. held that the royalty paid by the principal manufacturer to some other person for use of any copyright is not includible in the assessable value of the final goods cleared from the factory of job worker as the royalty paid by the principal manufacturer do not flow any additional consideration to the job worker.
The Hon’ble Supreme court in the case of Kali Aerated Water Works held that the restricted right to use of any trade mark and trade name does not make it use as use of brand name belonging to others since the assessee has right to use though restricted as mutually agreed between some parties.
Supreme Court bench comprising Chief Justice H.L. Dattu, Justice A.K. Mishra and Justice Amitava Roy has stayed the Bombay High Court’s order, dated 15.12.2014 in the case of P.C. Joshi Vs. Union of India of dismissing the petition challenging levy of service tax on lawyers.
The appellant contented that such a notional fixation of the handling charges with the addition of one per cent of free on board value of the value of goods, irrespective of the nature of goods, size of the cargo
The Hon’ble Supreme Court in the case of Poonam Spark Limited held that the process of assembling various parts bringing into existence Water Purification & Filtration System amounts to manufacture as the assembled component is different commercially known product with distinctive use.
The charges such as Landing Charges, Lighting Charges, Approach and Aerodrome Control Charges, Aircraft Parking Charges, Aerobridge Charges, Hangar Charges, Passenger Service Charges, Cargo Charges etc.
CIT vs. Sarkar Builders (Supreme Court of India)- Restriction on extent of commercial area in ‘housing project’ imposed w.e.f. 1.4.2005 does not apply to housing projects approved before 1.4.2005 even though completed after 1.4.2005 – Section 80-IB(10).
