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...
Deaths and Births register maintained by the statutory authorities raises a presumption of correctness. Such entries made in the statutory registers are admissible in evidence in terms of Section 35 of the Indian Evidence Act. It would prevail over an entry made in the school register, particularly, in absence of any proof that same was […]
Courts across the legal system – this Court not being an exception – are choked with litigation. Frivolous and groundless filings constitute a serious menace to the administration of justice. They consume time and clog the Productive resources which should be deployed in the handling of genuine causes are dissipated in attending to cases filed only to benefit from delay, by prolonging dead issues and pursuing worthless causes. No litigant can have a vested interest in delay.
Freight income from operation of ships in international waters is not chargeable to tax under Indo-Danish DTAA; Use of facility does not amount to technical services, as technical services denote services catering to the special needs of the person using them and not a facility provided to all.
In this Case Hon’ble Supreme Court held that Payments made by the agents to the concerned foreign assessee, for using the facility of Net Communication System, developed by the assessee for smooth functioning of its international shipping business cannot be classified as fees for technical services and would not be chargeable as income under Income […]
When a substantive sentence of thirty days is imposed, in the crime of present nature, that is, acid attack on a young girl, the sense of justice, if we allow ourselves to say so, is not only ostracized, but also is unceremoniously sent to Vanaprastha. It is wholly impermissible.
Whether a practicing Chartered Accountant while he holds the certificate of practice issued by the Institute of Chartered Accountants of India would be liable for punishment for any misconduct committed during the existence of certificate
Penalty proceedings for default in not having transactions through the bank as required under Sections 269SS and 269T are not related to the assessment proceeding but are independent of it.
The export turnover and the total turnover for the purposes of sections 10A and 10B shall be of the undertaking located in specified zones or 100% Export Oriented Undertakings, as the case may be, and this shall not have any material relationship with the other business of the assessee outside these zones or units for the purposes of this provision.
High Courts in all these cases have dismissed the writ petitions preferred by the appellant/assessee herein challenging the issuance of notice under Section 148 of the Income Tax Act, 1961 and the reasons which were recorded by the Assessing Officer for reopening the assessment.
In the present case, in the face of clear findings that loan applications were processed by Officers of Assessee and loan transactions in question of aforesaid 37 persons were also handled really by Assessee and further in view of categorical finding that loan amounts were not reflected in returns of 37 persons in question, we do not see how High Court could have taken above view and remanded atter to Assessing Officer.
