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Nov 16, 20247 min read
Time Bar & Procedural Discipline: Supreme Court Clarifies Rights v. Entitlements in Legal Remedies vis-a-vis the Laws of Limitations
SC underscores strict adherence to limitation periods in arbitration and insolvency cases, enhancing procedural fidelity.
Nov 16, 20244 min read
Intersection of CrPC, BNSS & PMLA: Supreme Court Reaffirms Sanction Requirements for Public Servants in PMLA Prosecutions
The SC reinforces procedural safeguards under CrPC for PMLA cases, ensuring sanctions for public servants align with official duties.
Nov 5, 20244 min read
Delhi HC: Reassessment Barred Once Nature and Source of Receipts Are Satisfactorily Proven
The Delhi HC invalidated reassessment notices under s.148, citing a lack of fresh evidence and reiterating fairness in tax governance.
Oct 28, 20245 min read
ITAT Upholds Exemption Under Section 47(xiii) of the Income-tax Act: No Capital Gains Tax on Partnership-to-Company Succession
The ITAT clarifies that partnership-to-company conversions are tax-neutral under Section 47(xiii) if statutory conditions are fully met.
Oct 28, 20242 min read
Supreme Court Revisits Constitutional Validity: Recalling Union of India v. Ganpati Dealcom Judgment
SC sets aside previous ruling on the 1988 Act's sections 3 and 5, questioning their retrospective application in benami transactions.
Oct 25, 20243 min read
ITAT Bombay: No Reassessment on Mere Change of Opinion Under Section 147 of the IT Act
ITAT Mumbai quashes reassessment based on incorrect facts, underscoring legal standards for tangible evidence under the IT Act.
Oct 19, 20243 min read
Kerala HC Strikes Down GST Export Refund Rule: A Judicial Review
The Kerala High Court invalidated GST Rule 96(10), which protected exporters' rights to IGST refunds on zero-rated supplies and en fairness.
Oct 18, 20247 min read
Supreme Court Takes a Stand Against Caste-Based Prison Discrimination
The Supreme Court mandates States to revise prison manuals, eliminate caste-based discrimination, ensure equality, and protect dignity,
Oct 15, 20246 min read
Supreme Court Clarifies TOLA’s Transitional Limits in Reassessment Proceedings under the Income-tax Act: Balancing the Old & New Regimes
The Supreme Court's ruling resolves the interplay between TOLA, FA21, and the IT Act, clarifying reassessment timelines and procedures.
Oct 15, 20243 min read
Income Tax Appellate Tribunal Restricts the Retrospective Effect of CBDT Circular 5/2024
The ITAT ruled that the CBDT Circular is prospective, rejecting Revenue’s bid for retrospective application in cases predating its issuance
Oct 14, 20246 min read
Supreme Court Decodes ITC Restrictions: Interprets Sections 17(5)(c) & 17(5)(d) of the CGST Act & Upholds its Constitutional Validity
The Supreme Court upholds CGST Act limits on ITC claims for construction, balancing tax neutrality with legislative intent in fiscal policy.
Oct 14, 20242 min read
Supreme Court Grants Bail in PMLA Case Due to Absence of Scheduled Offence
The Supreme Court granted bail in a PMLA case, citing the absence of a scheduled offence at the time of filing the complaint or chargesheet.
Oct 14, 20243 min read
Delhi High Court: PCIT Must Apply Judicial Mind in Reopening Assessments
The Delhi High Court emphasised that PCIT must independently apply their mind while approving reassessments, rejecting mechanical approvals.
Oct 12, 20243 min read
Delhi High Court Shields Employees from Employer Non-Compliance: Reaffirms Bar on Revenue Recovering TDS from Deductees
Delhi HC rules that employers cannot hold employees liable for TDS non-deposit, citing s. 205 of the Income-tax Act, 1961.
Oct 8, 20243 min read
GST: Allahabad High Court Quashes SCN Due to Lack of Allegations of Fraud, Misstatement, or Suppression
The Allahabad High Court quashed an SCN under section 74 of the CGST Act, citing a lack of fraud, misstatement, or suppression allegations.
Oct 3, 20245 min read
Tribunal Upholds Strict Penalties for Non-Compliance in AML Reporting, Emphasizing Zero Tolerance for Delayed or Missed CTRs Under PMLA
The Tribunal upheld stringent penalties for a bank's failure to report cash transactions under PMLA, reinforcing strict AML compliance.
Oct 1, 20243 min read
A Shift in Judicial Approach: Understanding Section 482 of the BNSS, 2023
Chhattisgarh High Court broadens anticipatory bail criteria, enhancing judicial discretion and prioritising personal liberty.
Oct 1, 20244 min read
Bombay HC on TDS Obligations: Jurisdiction and Territoriality in IP Acquisitions
The Bombay HC ruled that IP acquisitions involving foreign entities are taxable in India, emphasising territoriality and statutory remedies.
Sep 30, 20243 min read
NCLAT Clarifies Exclusion of Cancelled Leasehold Rights from CIRP Assets
The NCLAT ruled that assets excluded before CIRP initiation, like cancelled leasehold plots, cannot be included in the corporate resolution
Sep 27, 20244 min read
NCLAT Decision on Distribution Priorities Under the IBC
NCLAT confirms in Times Innovative Media case: unsecured financial creditors precede operational creditors in IBC liquidation order.