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...
Corporate Law : SC set aside the PMLA cognizance order as the accused was not heard under the first proviso to Section 223(1) BNSS before cognizan...
Corporate Law : Supreme Court dismissed a miscellaneous application challenging its signed order, holding it not maintainable and imposing ₹2,00...
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 : 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...
Booz Allen and Hamilton Inc. Vs. SBI Home Finance Ltd. & Ors.- All disputes are not capable of settlement through arbitration; some by nature have to be adjudicated by courts, according to the Supreme Court. A suit for sale, foreclosure or redemption of mortgaged property should be tried by a court and not by arbitral tribunal, the court stated in the judgment, Booz Allen & Hamilton Inc. Vs SBI Home Finance Ltd. In this case, two firms took loan from SBI to buy flats in Mumbai and they entered into leave and licence agreements with Booz. The borrowers did not repay the loan and so SBI filed a mortgage suit before the Bombay high court. Booz moved the high court for arbitration which was dismissed. Its appeal was also dismissed by the Supreme Court. It stated that a court where the mortgage suit is pending should not refer the parties to arbitration as it is not an “arbitrable” issue. This is so because only a court can protect the interests of third parties. Arbitration deals with only disputes between parties to the arbitration agreement. The court gave similar instances where arbitration should not be attempted, like insolvency and winding up matters, tenancy, wills, criminal offences, matrimonial disputes and guardianship issues.
A gift of immovable property made by a Muslim is valid even if it is not registered under the Transfer of Property Act or the Stamps and Registration Act, the Supreme Court today ruled. The apex court said though the TP Act mandates registration of a gift, the same would not apply to a Muslim donor as the community has been exempted from the provision.
Supreme Court restricts cultivation of cash crops like areca nut, coconut, cashew, and black pepper in Karnataka’s reserved forests. Lease cancellations justified.
J.G. Engineers Pvt. Ltd. Vs. Union of India & ANR. – The Supreme Court has set aside the judgment of the Gauhati high court and upheld the award of the arbitrator in the dispute over delay in the construction of the extension of the Guwahati airport terminal. The contracted period for completion of the project was 21 months, but it was extended twice. The contractor and the government blamed each other for the delay, and ultimately the government cancelled the contract. The dispute was referred to arbitration and the award was in favour of the construction firm. However, the high court set aside the award, leading to the appeal in the Supreme Court (J G Engineers Ltd vs Union of India). The court held that the contractor was entitled to extension of the period for completion of the work, as the delay was caused by the government. The firm was also entitled to escalation costs for the work done during the extended period. It cannot be imposed penalty for the delay. Moreover, since the delay was caused by the government, it cannot make counter-claims against the firm, the judgment said.
M/s. Bansal Wire Industries Ltd. & ANR Vs. State of U.P. & Ors (Supreme Court) – UP Trade Tax – stainless steel wire is not covered within entry (ix) of clause (iv) of Section 14 of Central Sales Tax Act: the language used in entry no. (ix) is plain and unambiguous and that the items which are mentioned there are “tools, alloy and special steel”. By using the words “of any of the above categories” in entry Nos. (ix) would refer to entries (i) to (viii) and it cannot and does not refer to entry no (xv).
As per the clarification issued by the Commissioner of Commercial Taxes, in exercise of the power conferred on him under Section 28A of the TNGST Act, the benefit of sales tax deferral scheme would be available to a dealer from the date of reaching of BPV or BSV, whichever is earlier. It is trite law that circulars issued by the revenue are binding on the departmental authorities and they cannot be permitted to repudiate the same on the plea that it is inconsistent with the statutory provisions or it mitigates the rigour of the law.
State of Tamil Nadu & ANR. Vs. India Cements Ltd. & ANR. -The Supreme Court last week dismissed the appeal of the Tamil Nadu government which denied sales tax benefits to India Cements Ltd. The high court had held that the cement firm was entitled to the benefit of deferral of sales tax as claimed by it under the interest free sales tax deferral scheme.
The Supreme Court last week ruled that an arbitration clause in a contract would not exclude the power of the high courts or the Supreme Court to decide disputes between the parties. The court thus dismissed the appeal of East Central Railway in the case, Union of India vs Tantia Construction Ltd. In this case, the railway awarded a project to the construction firm. Later, additional work had to be done and the firm was asked to undertake that too, at the cost dictated by the railway. This was resisted by the firm which moved the Patna high court. It stated that the entire work could not be thrust on the firm at its risk and cost. The government appealed to the Supreme Court, arguing that it could vary the nature of the work according to the terms of the contract. The government also argued that the courts could not interfere in the dispute as there was an arbitration clause.
Rallis India Ltd. Vs. Poduru Vidya Bhusan & Ors. (Supreme Court) – When partners of a firm issue cheques which are dishonoured, it is presumed that they were responsible for issuing them unless they prove that they were not in charge of the daily affairs of the firm. They have to discharge the burden during the trial under the Negotiable Instruments Act, the Supreme Court stated in the case, Rallis India Ltd vs Poduru Vidya. In this case, the company filed criminal complaints against three partners. They denied responsibility arguing that they had resigned before the date of the cheques. The Andhra Pradesh accepted their plea and quashed the criminal cases against them. Rallis appealed to the Supreme Court. It set aside the high court judgement and stated that the partners’ denial of responsibility and their status at the time of the issuance of cheques must be tested during the trial. The complaint against them could not be quashed by the high court using its discretionary power.
Citation – REVANASIDDAPPA & ANOTHER VERSUS MALLIKARJUN & OTHERS (SC) – Section 16(3) of the Hindu Marriage Act as amended, does not impose any restriction on the property right of Illegitimate Child except limiting it to the property of their parents. Therefore, such children will have a right to whatever becomes the property of their parents whether self acquired or ancestral.
