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...
SC upheld the view that claimed liabilities towards two banks were unsubstantiated. The ruling reinforces the need for documentary verification of liabilities.
The Court held that dividend income, bank-deposit interest, and SDF service charges are not derived from long-term finance. Only direct lending profits qualify for the deduction.
The Supreme Court held that the corporate debtor’s alleged pre-existing dispute lacked any factual basis and reinstated NCLT’s CIRP admission. The ruling reaffirms that illusory or unsupported defences cannot defeat a Section 9 IBC claim.
The Court held that once the statutory deadline expires, an arbitrator becomes functus officio and cannot be granted a fresh extension. It ordered substitution under Section 29A(6), reinforcing strict timelines for arbitral awards.
The Court ruled that failure to meet strict payment deadlines in an IBC-supervised sale justified full forfeiture. It held that such sales are governed by IBC and NCLT orders, not Contract Act protections.
SC emphasized that contempt power is not a sword to silence criticism but includes the power to forgive when remorse is genuine. The High Court wrongly imposed punishment despite an unconditional apology and resignation by the contemnor.
Since the assessment order did not refer to initiating penalty under Section 271D, the Court held the penalty void. This reinforces that penalty jurisdiction arises only from recorded satisfaction.
The Supreme Court ruled that ICCs can inquire into complaints against employees from different departments, ensuring procedural protections under the POSH Act are maintained for aggrieved women.
The Court noted that the writ petition challenging alleged fraudulent ITC was dismissed but allowed additional time to pursue a statutory appeal. The ruling permits the appeal to be filed without being treated as time-barred.
The Gujarat High Court held that the assessee disclosed all material facts and the reopening notice under section 148/147 was a change of opinion, lacking jurisdiction.
