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 affirmed that continuous non-filing of GSTR-3B despite issuing invoices and collecting GST amounts to wilful suppression under Section 74. The ruling rejects financial hardship as a defence against GST compliance failures.
CBDT’s 2026 amendment strengthens grandfathering protection for investments made before the commencement of GAAR. The clarification addresses concerns created by the Tiger Global ruling regarding scrutiny of legacy investments.
The Supreme Court held that mere differences in property valuation do not amount to furnishing inaccurate particulars. Penalty under Section 271(1)(c) requires proof of deliberate inaccuracy. The ruling clarifies that estimation disputes alone cannot justify penalty.
The issue involved whether jurisdictional officers could issue reassessment notices. The Court set aside High Court rulings after a retrospective amendment clarified their authority and remanded the matter.
The Supreme Court upheld deletion of penalty where the dispute involved classification of subsidy as capital or revenue receipt. It ruled that such debatable issues do not amount to furnishing inaccurate particulars. The decision reinforces limits on penalty under Section 271(1)(c).
The Supreme Court held that the IBC cannot be used as a substitute for execution of a civil court decree. It ruled that initiating CIRP for recovery purposes amounts to misuse of the insolvency framework.
The Supreme Court dismissed SLPs and upheld the High Court’s finding that reassessment notices lacked tangible material. The ruling reinforces that mere survey findings cannot justify reopening of assessments.
The Supreme Court rejected the appeal due to unexplained delay, leaving the High Court ruling intact. The decision confirms that depreciation is allowable where leased assets are used in business.
The Court held that a photocopy of a power of attorney cannot be relied upon without fulfilling legal requirements for secondary evidence. As the authority to sell was not established, the sale deeds were declared invalid.
The case examined whether arrest was justified in a politically sensitive dispute. The Court held that liberty cannot be curtailed lightly where allegations appear politically motivated.
