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Decoding the Grey: ITAT Upholds Revenue’s Stance Against Penny Stock Schemes
Explore the ITAT's decisive ruling on tax exemptions for penny stock gains. A critical look at legal complexities.
Jan 22, 20243 min read
Dissecting S. 29A of the IBC: NCLAT Clarifies Resolution Applicant Eligibility in Insolvency Cases
Introduction This case, Vishram Narayan Panchpor v. Committee of Creditors [i] , involves an appeal before the National Company Law...
Jan 22, 20243 min read
Dissenting Financial Creditors and Resolution Plans under IBC: Division Bench of Supreme Court Refers Matter to a Larger Bench
Introduction In the recent judgment in the matter of DBS Bank Limited Singapore v. Ruchi Soya Industries Limited and Another [i] , the...
Jan 22, 20244 min read
Mastering The Liberalized Remittance Scheme (LRS): Legal Issues Every Remitter Should Know
The Liberalized Remittance Scheme (‘LRS’) established by the Reserve Bank of India (‘RBI’) facilitates fund remittance by resident...
Jan 21, 202411 min read
Look Out Circulars (LOCs): A Comprehensive Analysis
Ensuring accountability for accused individuals is crucial, but the evasion of justice by fleeing jurisdiction poses challenges. The Look...
Jan 19, 202414 min read
[SC] SLP Filed by Income-Tax Department Dismissed on the Ground of Delay of 325 Days
Supreme Court stresses timeliness in rejecting a delayed tax appeal, underscoring legal punctuality's importance.
Jan 19, 20242 min read
Investor Protection in the Digital Age: SEBI Introduces Voluntary Account Freezing Facility
The Securities Exchange Board of India ( ‘SEBI’ ) has recently issued a circular [i] on 12.01.2024 under s. 11(1) of the SEBI Act, 1992,...
Jan 19, 20242 min read
PMLA: Anticipatory Bail Granted Due to Absence of 'Proceeds of Crime’
Explore how 'Proceeds of Crime' criteria influence anticipatory bail decisions under PMLA in our latest analysis.
Jan 17, 20243 min read
Interpreting PMLA Arrest Guidelines: Delhi High Court’s Perspective on Oral Communication of Grounds of Arrest
Introduction In the interlinked cases of Neeraj Singal v. Directorate of Enforcement [i] ( ‘ED' ), the Delhi High Court ( ‘DHC' )...
Jan 16, 20245 min read
Redefining Tax Notice Procedures: Rajasthan High Court's Critical Stance on Compliance and Jurisdiction
Introduction In a landmark judgment, the Rajasthan High Court bench at Jaipur ( ‘the Court’ ) pronounced a pivotal decision in Bijendra...
Jan 16, 20244 min read
Validity of Unregistered Agreement: ITAT holds that the Law Does Not Require an Agreement to be in Writing
ITAT confirms: Oral agreements are as valid as written ones for immovable property sales under s. 43CA, ensuring fairness in tax assessments
Jan 16, 20244 min read
Full Disclosure & Bona Fide Claims: The Deciding Factor Against Penalties in Tax Law
Introduction The Supreme Court ( ‘SC’ ) in the case of Principal Commissioner of Income Tax v. Indusind Bank Ltd . [i] dismissed the...
Jan 12, 20242 min read