Corporate Law : The Supreme Court held that individuals investing for financial returns rather than home ownership cannot invoke Section 7 of the ...
Goods and Services Tax : The Supreme Court declined immediate intervention but expressly left open the challenge to the validity of Section 16(2) of the CG...
Goods and Services Tax : The Supreme Court ruled that whenever money is staked on an uncertain outcome, the activity amounts to betting and gambling for GS...
Goods and Services Tax : The Supreme Court ruled that once money is staked on an uncertain outcome, the activity becomes betting and gambling regardless of...
Goods and Services Tax : The Supreme Court held that adjudicatory proceedings cannot survive when authorities rely on undisclosed material or deny meaningf...
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 : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Supreme Court declined to interfere with the Bombay High Court's view that a later judicial pronouncement cannot constitute a ...
Income Tax : The High Court upheld denial of Section 10(38) exemption after concurrent findings established that the share transactions lacked ...
Corporate Law : The Supreme Court examined whether personal insolvency proceedings under the IBC could halt cheque dishonour cases under Section 1...
Goods and Services Tax : The Supreme Court issued notice in a challenge to West Bengals entry tax regime concerning goods meant for export. Interim protect...
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 doctrine of fairness also is now considered to be a relevant factor for construing a statute. In a case of this nature where the effect of a beneficent statute was sought to be extended keeping in view the fact that the benefit was already availed of by the agriculturalists of tobacco in Guntur, it would be highly unfair if the benefit granted to them is taken away,
Time barred Excise duty Refund claim paid Protest buyer manufacturer
The law is well settled that a person who claims exemption or concession has to establish that he is entitled to that exemption or concession. A provision providing for an exemption, concession or exception, as the case may be, has to be constructed strictly with certain exceptions depending upon the settings on which the provisions has been placed in the statue and the object and purpose to be achieved.
Explore the Supreme Court judgment in CIT vs. Sunil J. Kinariwala (Appeal 1899/2002) dated 10/12/2002. Delve into the legal intricacies surrounding the assignment of income, diversion by overriding title, and the impact on taxation. Gain insights into the arguments presented, court decisions, and the broader implications of this significant case in tax law.
We have read the order of the High Court (see [2000] 241 ITR 124) and the statement of case. Given the facts and circumstances, we do not think that any interference with the order of the High Court is called for. 2. The civil appeals are dismissed.
Hanuman Prasad Bagri & Ors vs Bagress Cereals Pvt. Ltd. & Ors (SC) Sections 397 & 398 of the Companies Act, 1956 [hereinafter referred to as the Act] was filed before the Calcutta High Court on grounds of oppression and mismanagement. The learned Company Judge held that the Petitioners grievance in regard to ouster from the management of the company is legitimate and justified; that respondent No.3 had manoeuvred the matters in such a manner to result in the ouster of the Petitioner No.1 from the management of the Company.
Explore the Supreme Court judgment in the case of CIT Vs. Smt. Sandhya Rani Dutta, addressing pivotal questions on Hindu personal law. The ruling asserts that, according to the Dayabhaga School, a male presence is essential for the constitution of a Hindu Undivided Family (HUF). Delve into the detailed analysis of the case, where the court examines whether female heirs can form a joint Hindu family by agreement and impress upon inherited property the character of joint family property. Gain insights into the court’s interpretation and its impact on income tax assessments for the assessees involved.
These appeals have been filed against the common order dated 15th November, 1999 of the Customs, Excise and Gold (Control) Appellate Tribunal which, while confirming the order of the Commissioner of Customs held that drawings, designs etc. relating to machinery or industrial technology were goods which were leviable to duty of customs on their transaction value at the time of their import.
Sale price means the amount payable to a dealer as consideration for transfer of goods on hire purchase. The word sale occurring in Sec. 2(h) must have the meaning ascribed to it as in Section 2(g) when the word sale includes transfer of goods on hire purchase, then whatever is the amount which is paid/payable to the dealer on such a transfer would be included within the meaning
Law is settled- If a business liability has definitely arisen in the accounting year, the deduction should be allowed although the liability may have to be quantified and discharged at a future date. What should be certain is the incurring of the liability. It should also be capable of being estimated with reasonable certainty though the actual quantification may not be possible
