Search
Debt Cannot Be Classified as a Loan in the Absence of a Contract or Agreement – NCLAT Delhi
Debt lacks the legal framework of a loan without a formal contract, rules NCLAT Delhi in Metamorphosis Trading LLP v. Sankalp Engineering.
May 20, 20243 min read
Significance of 'Fees for Included Services' in Indo-USA DTAA
Explore how 'Fees for Included Services' shape cross-border tax rules in our latest legal insight on the Indo-USA DTAA.
May 20, 20242 min read
PMLA Charges Persist Despite Approver Status in Predicate Offence: Bail Granted Due to Lack of Mens Rea and Procedural Compliance
Delhi HC grants bail in PMLA case, noting lack of direct involvement and mens rea.
May 20, 20244 min read
NCLT Approves Distribution of Not Readily Realisable Assets Among Stakeholders in Liquidation Case
ITAT Hyderabad clarifies that crediting revalued assets to partner accounts triggers capital gains under ITA's s. 45(4)
May 19, 20242 min read
Discrepancy Between Reasons in Notice Under S. 148A(b) and Order Under S. 148A(d) Renders Notice Ineffective and Mere Formality
HC upholds the need for consistent tax notice reasons to ensure fair taxpayer response.
May 18, 20243 min read
Coordinated Investigation and Administrative Convenience: Delhi High Court Upholds Centralization of Cases
Delhi HC upholds centralization of tax cases, highlighting the importance of coordinated investigation and administrative convenience.
May 18, 20244 min read
[AAR – Andhra Pradesh] Compensation Received in Respect of Liquidated Damages Was Taxable under the CGST Act
AAR ruled recovery of liquidated damages as taxable under the CGST Act, impacting contract penalties.
May 18, 20244 min read
Bank of Foreign Economic Affairs v. Enforcement Directorate: Tribunal Addresses Compliance and Justice in FERA Violations
Tribunal revises hefty FERA fine, affirming both law and fairness in complex global finance.
May 18, 20243 min read
Delhi High Court Orders Re-evaluation of Tax Dispute, Stresses AO's Duty to Assess on Merits
Delhi HC asserts AO must weigh merits, not just enforce 20% tax pre-deposits.
May 16, 20242 min read
Non-Bailable Warrants Will Not Be Issued Unless the Accused Is Likely to Abscond or Destroy Evidence
Supreme Court clarifies when non-bailable warrants can be issued, emphasizing individual liberty and case-specific scrutiny.
May 14, 20243 min read
Supreme Court Clarifies Applicability of S. 106 of the Evidence Act & Exception 4 to S. 300 of the IPC in a Landmark Judgment
SC clarifies Evidence Act's Section 106 & IPC's Exception 4 in landmark Anees judgment, ensuring fair trials and balanced justice.
May 13, 20245 min read
Bombay High Court Rules on the Inapplicability of S. 32A IBC Protections to Natural Persons and Existing Directors
Explore how Bombay HC clarifies s. 32A IBC protections don't shield directors or individuals in ongoing criminal cases.
May 13, 20243 min read
Bombay High Court Clarifies FAO's Authority Over S. 148 Notice Issuance and Tax Escapement Cases
Explore how the BHC shapes tax law, enhancing fairness in tax reassessment and deduction validity.
May 13, 20248 min read
[ITAT] Revenue from Software Licensing Fees and Annual Maintenance Contracts Not Taxable in India Due to Absence of Permanent Establishment
ITAT rules in favor of Openwave Mobility Inc., finding software licensing fees and maintenance contracts non-taxable in India without a PE.
May 13, 20244 min read
Disbursal Against Time Value of Money: Understanding Financial Debt Under IBC
NCLAT's recent judgment on financial debt under IBC emphasizes the need for transparency and solid evidence in insolvency disputes.
May 13, 20243 min read
The Supreme Court Grants Interim Bail to the Petitioner Due to An Anomaly in the Documents Presented
SC grants interim bail in Sandeep Gupta v. ED due to document anomalies, ensuring due process.
May 13, 20243 min read
P&H HC Stays CBIC Circular on Corporate Guarantees, Citing Jurisdiction Overreach
The Punjab and Haryana HC halts GST directive, defending judicial integrity against regulatory overstep.
May 12, 20242 min read
MP High Court Clarifies Applicability of S. 14A Amendment
The MP High Court decisively ruled on the non-retroactive application of s.14A of the Act, safeguarding taxpayer rights from past liability.
May 11, 20243 min read
CCI Remarks: In the Absence of Unfair or Discriminatory Conduct, the Dominant Position Not Abused
CCI: Dominant position not abused in the absence of unfair or discriminatory actions. Clear market rules are essential for fair competition.
May 10, 20244 min read
[ITAT – Mumbai] Penalty Under S. 271(1)(c) of ITA for Income Concealment Deleted as the Assessee Had Explained Reasons for Advancing Interest-Free Loan to Its Associated Enterprises
ITAT Mumbai clears penalty for Air Works, affirming bona fide interest-free loans to AE.
May 9, 20243 min read