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Supreme Court Clarifies DRI Jurisdiction Under Customs Act: Proper Officer Reinterpreted
The Supreme Court upheld the authority of DRI officers to issue customs demands under Section 28 of the Customs Act. Reversing its 2021 judgment in Canon India, the Court validated retrospective amendments and affirmed legislative competence to correct interpretational errors, settling years of litigation and reinforcing administrative stability in customs enforcement.
Nov 26, 20244 min read
Bombay High Court Clarifies Revenue v. Capital Expenses under Income-tax Act
The Bombay High Court ruled that broken period interest and debenture issuance expenses qualify as deductible business expenditure.
Nov 25, 20243 min read
Equitable Enforcement of Contracts: The Supreme Court Reiterates Principles of Specific Performance, Limitation, and Lis Pendens
The Supreme Court revisits principles of specific performance, limitation, and lis pendens in a landmark case on contract enforcement.
Nov 23, 20244 min read
Delhi High Court: Prosecution under the Black Money Act Not Contingent on Completion of Assessment
Delhi HC affirms that prosecution under the Black Money Act can proceed independently of tax assessment proceedings under s. 10.
Nov 23, 20244 min read
NCLAT: Sale of Corporate Debtor as Going Concern Prevails Over Scheme of Arrangement
The NCLAT Chennai upheld the priority of selling a corporate debtor as a going concern, aligning with the IBC's goals of value maximisation.
Nov 23, 20244 min read
ITAT Ruling on Deductibility of Loss on Inter-Corporate Deposits
The ITAT reviews the deductibility of losses on inter-corporate deposits, emphasising statutory compliance and evidentiary support.
Nov 22, 20243 min read
Arm’s Length Principle Upheld: Special Bench Rules on Taxation of Transactions Between Permanent Establishment & Head Office Under Transfer Pricing Laws
The ITAT Special Bench clarifies that HO-PE transactions are subject to arm's length pricing under TP laws, ensuring compliance.
Nov 20, 20244 min read
Supreme Court Redefines Directive Principles: Balancing State Policy & Individual Rights under Articles 39(b) & 31C
The SC clarifies the scope of Articles 39(b) and 31C, balancing state policy, resource distribution, and individual property rights.
Nov 18, 20245 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, 20247 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 16, 20244 min read
Delhi High Court Clarifies JAO Jurisdiction in Reassessment Under Faceless Scheme
Delhi HC confirms JAO's authority to issue reassessment notices under s. 148 despite the adoption of the Faceless Reassessment Scheme.
Nov 14, 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.
Nov 5, 20244 min read
[NCLAT – New Delhi] Decision on the Applicability of Interim Moratorium to Partnership Firm’s Assets Where a Partner is a Personal Guarantor
NCLAT clarifies that an interim moratorium under s. 96 applies only to the personal debts of a guarantor, not to partnership assets.
Oct 31, 20243 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, 20245 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 28, 20242 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 25, 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 19, 20243 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 18, 20247 min read
[Delhi High Court]: Quashed Reassessment Proceedings Due to Violation of Section 149 of the Income-tax Act
Delhi HC holds reassessment notices issued under Section 148 as time-barred, reaffirming the mandatory limitation under Section 149.
Oct 18, 20243 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, 20246 min read