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Delhi High Court Denies Bail to Manish Sisodia: Legal Analysis
Introduction In a significant legal development, the Delhi High Court ( 'DHC' ) recently delivered a consequential verdict in the case of...
Sep 15, 20235 min read
Precision in Valuation: ITAT Scrutinizes Off-Market Share Transaction and Overturns Addition
ITAT-Delhi rules on Trak Services' LTCG, emphasizing the sanctity of contract prices over market rates in share transfer disputes.
Sep 1, 20233 min read
Bail Granted in GST Fraud Case: P&H High Court Balances between Justice and Pretrial Detention
Introduction A recent decision by the Punjab & Haryana High Court ( ‘Court’ ) in the matter of Jitender Bhalla alias Vicky v. State of...
Aug 23, 20233 min read
IBC Prevails: Violation of S. 295 of Companies Act, 1956 No Bar to Section 7 Application
[NCLAT New Delhi] Violation of S. 295 of the Companies Act, 1956, in itself, is not sufficient ground to reject an S. 7 IBC application...
Aug 19, 20233 min read
DLF Homes Panchkula Pvt. Ltd. v. Additional Commissioner of Income Tax
In the case of DLF Homes Panchkula (P) Ltd. v. Additional Commissioner of Income Tax ( ‘CIT’ ) & Anr. ( supra ) (DELHI HIGH COURT – SCC...
Aug 17, 20234 min read
Telefonaktiebolaget LM Ericsson v. Competition Commission of India
Introduction The objectives of the Competition Act, 2002 (‘ Competition Act ’) and the Patents Act, 1970 (‘ Patents Act ’) are, by...
Aug 11, 20235 min read
Securities & Exchange Commission v. Ripple Labs, Inc.
BRADLEY GARLINGHOUSE & CHRISTIAN LARSEN UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK Introduction In the complex realm of...
Aug 7, 20235 min read
[Delhi HC] Seriousness of Allegations cannot be Justification for Pre-Trial Incarceration.
The Delhi High Court recently rendered a pivotal judgment in the case of Suman Chadha v. Serious Fraud Investigation [i] , which has...
Aug 3, 20233 min read
[SC] Person Summoned Under S. 69 of the CGST Act Cannot Seek Anticipatory Bail Under S. 438 of CrPC
India's Supreme Court clarifies that CGST Act summonses exclude anticipatory bail under CrPC.
Jul 31, 20233 min read
No Penalty for Innocent Facilitation of Improper Importation: Delhi High Court Sets Precedent
Introduction The present case of Rajeev Khatri v Commissioner of Customs [i] involves an appeal filed before the High Court of Delhi (...
Jul 31, 20234 min read
The Andhra Pradesh High Court Upholds the Constitutional Validity of S. 16(4) of the CGST Act
Introduction The Andhra Pradesh High Court ( ‘Court’ ), in the case of Thirumalakonda Plywoods v. Assistant Commissioner , [i] examined...
Jul 29, 20233 min read
IBC overrides Electricity Act: Supreme Court Reinforces IBC’s Waterfall Mechanism
In a landmark ruling, the SC emphasizes the supremacy of IBC’s provisions over the Electricity Act, impacting asset liquidation priorities.
Jul 29, 20234 min read
[CESTAT - Hyderabad] Penalty Cannot Be Imposed on Custom Brokers Merely on the Basis of an Uncorroborated CBI Report
CESTAT: Penalties on Custom Brokers require concrete evidence, not just an uncorroborated CBI report, rules Hyderabad Tribunal.
Jul 28, 20233 min read
[NCLAT] – The Resolution Plan Cannot Discriminate Among the Same Class of Creditors
NCLAT rules against bias in creditor payouts, mandates equitable distribution in Akashganga case.
Jul 22, 20233 min read
NCLAT Rules: Pendency of DRT Proceedings Does Not Hinder Action Under S. 7 of the IBC
NCLAT: DRT case pendency doesn't block IBC s. 7 rights.
Jul 22, 20237 min read
Bogus Purchases: Bombay HC Limits IT Addition [Ashwin Purshotam Bajaj]
[Bombay HC] – Only a profit element can be added in respect of bogus purchases under Section 69 of the Income Tax Act, 1961 when the...
Jul 20, 20232 min read
The Delhi HC Quashed FIR on the Ground That the Dispute Was Purely Civil in Nature
Court decision emphasizes the civil nature of disputes over financial transactions, underlining legal boundaries.
Jul 15, 20234 min read
[AT-PMLA] Attachment under PMLA upheld even if complaint not yet filed under Black Money Act
The Hon’ble Appellate Tribunal under the Prevention of Money Laundering Act, 2002 (‘the Appellate Tribunal’) in a recent case of Dr....
Jul 14, 20235 min read
[CESTAT] Adjudication liable to be set aside if cross-examination not granted
Customs, Excise and Service Tax Appellate Tribunal, Ahmedabad (‘CESTAT’), recently passed an order in the case of Indu Oversea Private...
Jul 3, 20233 min read
NFRA Imposes a Penalty on Auditors
NFRA imposes heavy fines and restrictions on auditors for misconduct and standards violations.
Jul 3, 20232 min read