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 affirmed a fire insurance claim after insurer attempted repudiation based on an arbitrary surveyor’s report. Ruling held that once a genuine loss is proven, the exact cause of fire is irrelevant, and surveyors cannot ignore documented evidence of stock loss. The key takeaway is that insurance policy terms like FFF (Furniture, Fixtures, and Fittings) must be interpreted broadly in favor of insured.
The Supreme Court mandated specific performance for a property sale, ruling that the vendor’s acceptance of an extra payment after the initial period expired constituted a waiver of the right to terminate. The Court restored the sale decree, affirming that time is not automatically the essence in immovable property contracts.
SC set aside a HC conviction in a corruption trap case, reinstating acquittal of a Labour Officer. SC ruled that recovery of cash alone is insufficient for conviction under PC Act unless prosecution first proves accused demanded and accepted bribe.
SC ruled that holders of Cumulative Redeemable Preference Shares (CRPS) are investors, not creditors, affirming debt-equity distinction. Since CRPS is equity and redemption is conditional on profits, no ‘financial debt’ or ‘default’ under IBC exists, barring them from invoking Section 7.
The Supreme Court set aside High Court and ITAT orders, condoning a 166-day delay in an appeal (Vidya Shankar Jaiswal Vs ITO). The court mandated a justice oriented and liberal approach to delay condonation.
Supreme Court rules VAT is leviable on materials (like ink/chemicals) used in a works contract, even if consumed, as property transfer occurs upon incorporation.
Supreme Court held that urgency in intellectual property infringement suits arises from continuing nature of wrong, not from how long infringement has persisted. Delay alone cannot bar exemption from pre-institution mediation under Section 12A. Court restored the suit, clarifying that each act of ongoing infringement creates a fresh cause of action.
The Supreme Court dismissed Arham Infra Developers’ petitions against GST assessments, holding that alternate statutory appeals under Section 107 of the CGST Act must be exhausted before invoking writ jurisdiction.
Supreme Court refused to quash PMLA proceedings against JSW Steel, holding that questions on proceeds of crime must be decided by Appellate Tribunal first.
The Supreme Court clarified that a minor, on attaining majority, does not need to file a formal suit to cancel a guardian’s unauthorized sale of their property. The act of the former minor executing a fresh sale deed is sufficient conduct to legally repudiate the voidable transaction, making the subsequent sale valid.
