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Delhi High Court Balances Between the Right to Travel & National Economic Interests: A Judicial Pattern in the Making?
The Delhi HC balances personal liberty with national economic interests, upholding travel restrictions amid ongoing financial investigations
Aug 23, 20244 min read
[Rajasthan HC] Arbitration Application Allowed Despite Respondents' Objections Regarding Procedural Requirements, Limitations, and Quantum of Claim
Rajasthan HC rules in favour of L&T, dismissing RUIDP's objections on procedural grounds and claim limits in an arbitration case.
Aug 22, 20244 min read
Tribunal Confirms Asset Confiscation Under FERA, Differentiating Adjudication from Prosecution Proceedings
The Tribunal upheld asset confiscation under FERA, affirming that prosecution and adjudication proceedings are independent processes.
Aug 20, 20243 min read
[Delhi HC] Settlement for Dispute Regarding Sweat Equity Shares Taxable as Long-term Capital Gains, Not Salary
Delhi HC rules settlement from sweat equity share disputes as capital gains, not salary.
Aug 19, 20244 min read
Breaking the ‘Snake & Ladder’ Cycle: Supreme Court Upholds Right to Speedy Trial, Grants Bail Amid Prolonged Incarceration in PMLA Cases
Supreme Court grants bail, emphasises right to speedy trial in PMLA case, marking a judicial shift.
Aug 17, 20246 min read
Acquittal in Cheque Bounce Case: Supreme Court Emphasises Evidence Over Presumption
SC upholds acquittal in cheque bounce case, emphasising robust evidence over mere legal presumption.
Aug 16, 20244 min read
Calcutta High Court Clarifies Personal Guarantor's Liability in Debt Assignment
Calcutta HC rules on PG liabilities, affirming non-exemption in debt shifts, upholding creditor rights under specified conditions.
Aug 16, 20243 min read
NCLT Kolkata: Leasehold Rights Cannot Be Terminated Through Resolution Plan Without Due Process
NCLT Kolkata holds that leasehold rights cannot be extinguished via resolution plans without adhering to due legal process under IBC.
Aug 14, 20243 min read
[West Bengal AAR] No GST on Physical Bridge Tournaments as They Do Not Constitute ‘Specified Actionable Claims’
West Bengal AAR rules that organising offline bridge tournaments does not qualify as 'specified actionable claims' liable for GST.
Aug 13, 20244 min read
Delhi High Court Upholds Clean Slate Principle: S. 32A of the IBC Different from Moratorium Period
Delhi HC rules: A corporate debtor's assets are shielded from past liabilities once a resolution plan is approved, per s.32A of the IBC.
Aug 12, 20243 min read
Exclusion of VAT from Taxable Turnover: Supreme Court Clarifies ‘Purchase Price’
Supreme Court's verdict reinforces the strict interpretation of tax laws, excluding VAT from ‘purchase price’ in GVAT Act calculations.
Aug 12, 20243 min read
Revaluation of Assets as Capital Gains: ITAT Rules that Asset Revaluation Constitutes Transfer ‘Otherwise’ Under S. 45(4) of the ITA
ITAT Hyderabad clarifies that crediting revalued assets to partner accounts triggers capital gains under ITA's s. 45(4).
Aug 10, 20244 min read
Natural Justice and Procedural Compliance in GST Adjudication: A Judicial Interpretation by Allahabad HC
An analysis of how courts address natural justice and procedural compliance in GST cases, highlighting key taxpayer obligations and remedies
Aug 10, 20243 min read
Bombay High Court Invalidates Reassessment for Non-Compliance with S. 151A: A Critical Review of Procedural Errors in Tax Notices
Ruling quashes tax reassessment due to flawed procedural compliance, underscoring legal adherence necessities.
Aug 9, 20243 min read
Madras High Court: Discretionary ESOP Compensation is Taxable as Perquisite
Madras High Court rules that one-time discretionary compensation for loss in future accretion with respect to ESOPs is taxable as perquisite
Aug 9, 20248 min read
[ITAT] Cash Transactions in Property Sales: Section 271D Penalty Unwarranted, Section 269ST Applies
ITAT finds no penalty warranted under s. 271D for cash transactions in property sales, highlighting the relevance of s. 269ST instead.
Aug 7, 20244 min read
[Supreme Court] Banks Must Follow the MSME Revival Framework Before Classifying Accounts as NPAs
SC mandates MSME restructuring before NPA status, reinforcing legal protections for small businesses.
Aug 7, 20243 min read
[ITAT] Tax Exemption on Mutuality Grounds Not Applicable to Advocates Welfare Fund
ITAT holds: Advocates Welfare Fund fails to meet mutuality criteria, disqualifying it from tax exemptions under the Income Tax Act, 1961.
Aug 3, 20243 min read
SAFEMA Clarifies the Extent of Its Powers: Only the Special Court Holds Authority to Release Property
SAFEMA Tribunal confirms only the Special Court can release property under s. 8 of the PMLA.
Aug 3, 20242 min read
Corporate Guarantor v. Principal Debtor: Supreme Court Clarifies Distinct Liabilities under IBC
Supreme Court rules guarantor and debtor liabilities as distinct under IBC, allowing creditors dual recovery paths.
Aug 1, 20244 min read