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 : 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 : Supreme Court granted bail under the PMLA, noting prolonged custody, documentary evidence, delayed trial, parity with co-accused, ...
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 has stated that the Arbitration and Conciliation Act would apply to all civil disputes, and not merely to commercial disputes. It set aside the view of the Karnataka high court in the case, H Srinivas Pai vs H V Pai, in which the high court remarked that the law will apply only to “commercial agreement matters and international commercial matters.”
Opining that the amendment of Section 43A of the Act by the Finance Act, 2002 with effect from 1st April, 2003 is amendatory and not clarificatory and would thus, apply prospectively, the Court explained that under the unamended Section 43A, adjustment to the actual cost takes place on the happening of change in the rate of exchange, whereas under the amended Section 43A,
At the outset, we may note that although in view of the orders passed by the Committee on disputes, advising the Revenue not to file appeals against Tribunal’s orders, we find some substance in the objection of learned counsel for the Assessee about the maintainability of Revenue’s appeals before the High Court but as we have heard learned counsel for the parties on merits of the appeals, at this stage, we do not propose to go into this question. We also reject at the threshol
The assessee, a fishing company, obtained two fishing vessels on charter from a foreign company based in Hong-Kong. The charter fee of $ 600,000 was payable from the earning from the sale of fish and for that purpose 85% of the gross earnings from the sale of fish was to be paid to the foreign company. The trawlers were delivered to the assessee at Chennai Port.
Wallfort Shares & Stock Brokers, a Five Member Special Bench of the Tribunal (96 ITD 1 (Mum) (SB)) and the Bombay High Court (310 ITR 421 (Bom)) held that the ‘loss’ incurred by an assessee in ‘dividend-stripping’ transactions cannot be disallowed on the ground that it was ‘tax-planning‘. The department’s SLP against the said judgement has been dismissed by the Supreme Court today, 6th July 2010.
Two-wheeler makers will now have to sell a helmet along with their bikes and scooters after the Supreme Court today dismissed a plea by the Society of Indian Automobile Manufacturers against such a step. A bench comprising Justice G S Singhvi and Justice A K Ganguly dismissed the petition filed by the Society of Indian Automobile Manufacturers (SIAM) challenging an earlier order of the Delhi High Court.
The right to subscribe for additional offer of shares/ debentures on rights basis comes into existence when the company decides to come out with the rights offer. Prior to that, such right, though embedded in the original shareholding, remains inchoate. The same crystallizes only when the rights offer is announced bythe company.
N an order sympathetic to public authorities who delay filing of appeals far beyond prescribed time limits, the Supreme Court has stated that their petitions should not be “thrown out on technicalities”. The court asserted that “in the legal arena, an attempt should always be made to allow the matter to be contested on merits, unless mala fides are writ large on the conduct of the party.”
Limitation period means the time within which a person must file his case before a judicial authority for exercising his rights. This period is to be calculated from the date of the cause of action. This term does not have any definition, but it is well settled that “cause of action” is a mixed question of fact and law. It has consistently been held that for insurance disputes, the cause of action starts from the date of rejection of the claim.
The Supreme Court judges hearing a petition against the merger of Bank of Rajasthan (BoR) with ICICI Bank on Wednesday described it as an “abuse of process of law” and asserted that they would not hear the case unless the petitioner disclosed in an affidavit how many shares he held in BoR.
