Category: Supreme Court

Homebuyer entitled to possession of the Apartment if their name incorporated in the list of financial creditors – Supreme Court In a recent judgment Hon’ble Supreme Court had held that once the name of homebuyers was incorporated in the list of financial creditors of the corporate debtor published …

Absence of documentary proof would not lead to conclusion that cash amount was not paid when the receiver has executed a promissory note – Supreme Court In a recent judgment, Hon’ble Supreme Court has held that absence of documentary proof would not lead to the conclusion that cash …

Reopening on the allegation of non disclosure of illegal mining was quashed as Apex Court did not declare it illegal till the date of its decision In a recent judgment Hon’ble Supreme Court dismissed the SLP of the Revenue against the order of the High Court quashing reopening …

Supreme Court declines to entertain inordinate delay of seven/six years in filing appeal by shifting responsibility of delay on counsel- SLP dismissed In a recent judgment, Hon’ble Supreme Court dismissed the SLP against the judgment of the High Court upholding the ITAT order that shifting responsibility of delay …

Complaint u/s 138 of N.I. Act against SICK company was valid when restraint order allowed it to draw to meet its day-to-day operations In a recent judgment, the Hon’ble Supreme Court has held that there was no embargo on filing a complaint u/s 138 of N.I. Act against …

Despite that assessee had formed various AOP syndicates for carrying out the business for a definite share of profit, the share of the assessee in the profit of these syndicates and also, the undisclosed income of the syndicates cannot be added to the income of the member assessee. …

Section 13 of Income Tax Act applies only on the eligibility of exemption of income u/s 11 and not at the time of grant of registration u/s 12AB. In a recent judgment, Hon’ble Supreme Court dismissed the appeal of the CIT(E) against the High Court judgment upholding that …

Supreme Court punished Income Tax Officials with fine for launching prosecution u/s 276C without any order of the ITAT imposing penalty exceeding Rs. 50,000/- In a recent judgment, Hon’ble Supreme Court punished Income Tax Officials with fine for launching prosecution u/s 276C against the assessee for alleged wilful …

SLP dismissed against 100 percent addition made by the High Court on account of bogus purchase In a recent judgment Hon’ble Supreme Court dismissed SLP filed by the assessee against 100 percent addition made by the High Court on account of bogus purchase against three percent addition made …

AO not bound to bring on record an acknowledgment of service of the notice which is issued by registered post / speed post to the correct address. In a recent judgment, Hon’ble Supreme Court has dismissed Special Leave Petition (SLP) against the judgment of the Delhi High Court …