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 question was whether execution proceedings could extend to directors despite no findings against them. The Court ruled that directors cannot be bound in execution without pleadings, adjudication, and findings in the original proceedings.
The Court ruled that failure to substitute the legal representatives of one heir does not automatically abate proceedings. Abatement arises only where the deceased party’s interest is left wholly unrepresented.
The Supreme Court held that repeated non-disclosure of pending criminal cases in attestation and verification forms is fatal to candidature. Truthful disclosure at entry is mandatory, regardless of later acquittal or clarification.
The Court ruled that “sufficient cause” must explain the entire limitation period, not just post-expiry delay. Negligence or inaction, including by government bodies, cannot justify condonation.
The courts held that when depreciation on goodwill is allowed after detailed examination, the assessment cannot be revised as erroneous. The key takeaway is that a plausible and informed assessment order bars revision under Section 263.
The issue was whether receipt of shares on amalgamation attracts tax when shares are held as stock-in-trade. The Court held such substitution can trigger business income under Section 28 if the shares are realisable, reinforcing the real income principle.
The Supreme Court ruled that duty-free imports under export incentive licences cannot be denied without evidence of fraud. Valid licences and verified exports were held sufficient to retain benefits.
The issue was whether courts can take cognizance of company fraud offences on a private complaint. The Supreme Court held that offences linked to fraud punishment require an SFIO or authorised government complaint, reinforcing statutory safeguards.
The Supreme Court examined whether shares received on amalgamation can be taxed as business income when held as stock-in-trade. It ruled that tax arises only if the substitution results in a real, commercially realizable gain, not a mere statutory replacement.
The Supreme Court held that a subsequent affidavit ratifying acts of a power-of-attorney holder revived the agreement and reset limitation. Once ratification was admitted, refusal to execute sale entitled the buyer to specific performance.
