Category: Supreme Court
Supreme Court lays down guidelines for Compounding of Offences u/s 24 of SEBI Act by Securities Appellate Tribunal (SAT) and Trial Courts Important case law relied referred:JIK Industries Limited vs Amarlal v. Jumani ABCAUS Case Law CitationABCAUS 3535 (2021) (07) SC The appellant was a director and promoter …
Adjustment of amount paid under IDS 2016 on failure to pay third instalment – Supreme Court issues notice to CBDT ABCAUS Case Law CitationABCAUS 3534 (2021) (07) SC Important case law relied referred:Sangeeta Agarwal vs. Principal Commissioner of Income TaxShankarlal vs. Income Tax Officer & OrsPatchala Seethramaiah vs. …
Supreme Court struck down Constitution 97th Amendment with respect to Cooperative Societies, upheld for multi State Cooperative Societies ABCAUS Case Law CitationABCAUS 3532 (2021) (07) SC Important case law relied referred:Hoechst Pharmaceuticals Ltd. v. State of Bihar, (1983) 3 SCR 130Daman Singh v. State of Punjab, (1985) 2 …
Supreme Court declares requirement of minimum age of 50 years for appointment in Tribunals as void and inoperative ABCAUS Case Law CitationABCAUS 3528 (2021) (07) SC Important case law relied referred:Union of India vs. R. Gandhi, President Madras Bar AssociationMadras Bar Association vs. Union of India & Anr.Rojer …
Entire income of trust cannot be taxed for violation of Section 12A exemption conditions. Supreme Court dismisses SLP of Department. Denial of exemption u/s 11 should be limited only to amount diverted ABCAUS Case Law CitationABCAUS 3527 (2021) (07) SC Important case law relied referred:CIT vs. Fr. Mullers …
Supreme Court on postponement of CA exams – Read Court’s Directions on Opt out option The Supreme Court though did not ordered postponement of upcoming CA exams, however directed that opt out option to appear in next exam shall be available to all students. It has been also …
Provisions of personal guarantors to corporate debtors under IBC 2016 under notification dated 15th November, 2019 is legal and valid – Supreme Court The Central Government, vide notification dated 15th November, 2019, brought into force provisions relating to the personal guarantors (PGs) to Corporate Debtors with effect from …
Supreme Court struck down West Bengal Housing Industry Regulation Act 2017 (HIRA) as unconstitutional being repugnant to the RERA ABCAUS Case Law CitationABCAUS 3501 (2021) (05) SC Important case law relied referred:Tika Ramji vs State of UP 1956 SCR 393ITC Ltd. vs Agricultural Produce Market Committee (2002) 9 …
Deduction u/s 80-IA of the Income Tax Act not limited to head ‘business income’ only. – Supreme Court. Sub section (5) limited to determination of quantum treating ‘eligible business’ as only source of income. ABCAUS Case Law CitationABCAUS 3499 (2021) (04) SC Important case law relied referred:Cloth Traders …
SC restores order extending limitation period till further orders for all judicial or quasi-judicial proceedings. Earlier, in 2020, the Supreme Court took suo motu cognizance of the situation arising out of COVID-19 Virus and passed order to direct that the period of limitation in filing petitions/ applications/ suits/ appeals/ …
