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 Supreme Court held that an FIR based on previously closed complaints and filed without mandatory sanction is an abuse of process and must be quashed.
The Court held that duty-paid items supplied directly to site are not includible when the final plant is immovable. The key takeaway is that excisability, not contract value, governs valuation.
The Court overturned convictions after finding contradictions, missing proof of possession, tainted recoveries, and unreliable forensics. It reaffirmed that convictions cannot rest on infirm investigations.
The SC upheld reopening of completed assessments where key agreements were not disclosed. It held that failure to place primary documents enables reassessment beyond the four-year limit.
The judgment clarifies that expenses incurred solely for Indian branches may be allowed under Section 37(1). Only qualifying head office expenses face the Section 44C ceiling.
The Court ruled that non-disclosure of a subsisting mortgage amounts to fraud, entitling the buyer to refund of advance despite alleged payment defaults.
The issue was whether compensation awarded for the death of a minor was grossly inadequate. The Supreme Court recalculated compensation using minimum wages, 40% future prospects, and multiplier 15, substantially enhancing the award.
The dispute concerned the scope of the deeming provision under Section 103 of the MSCS Act. The Court ruled that the deeming fiction operates only when the society’s objects, not merely its operations, span multiple States.
The issue was whether payment of substantial loan EMIs can be treated as proof of income. The Court ruled that EMIs, without corroborative evidence, cannot determine income, leading to a downward revision of compensation.
ITO Vs Srichand Mandhyan (Supreme Court of India) Supreme Court considered a Special Leave Petition challenging an order passed by the Bombay High Court. After hearing the learned counsel for the parties and examining the material on record, the Supreme Court found no valid ground to interfere with the High Court’s decision. Accordingly, the Special […]
