Category: Supreme Court
No modifications or withdrawals of CoC-approved Resolution Plans at behest of successful Resolution Applicant once plan submitted to Adjudicating Authority- Supreme Court In a recent judgment the Hon’ble Supreme Court have held that under the existing insolvency framework in India there is no scope for further modifications or …
Formula for Refund of ITC u/s 89(5) is not ultra vires. Supreme Court urges GST Council to reconsider formula and take a policy decision ABCAUS Case Law CitationABCAUS 3550 (2021) (09) SC Important case law relied referred:VKC Footsteps India Pvt. LtdTvl. Transtonnelstroy Afcons Joint Venture Section 54 of …
Power to grant personal hearing under Faceless Appeal Scheme 2020- Supreme Court to decide if discretion be limited to Chief Commissioner and Director General only CBDT in August 2020 notified Income Tax Faceless assessment Scheme 2020. Section 144B provides that in a case where a variation is proposed …
Technology Upgradation Fund Subsidy received was capital receipt and not taxable. Supreme Court dismisses the SLP of the Department In the instant case, the Revenue had filed SLP before the Hon’ble Supreme Court challenging the order passed by the Hon’ble High Court in confirming that amount of subsidy …
Debentures issued in lieu of interest liability allowable expenditure u/s 43B read with Explanation 3C – Supreme Court ABCAUS Case Law CitationABCAUS 3541 (2021) (08) SC The appellant had filed a SLP raising the question with reference to Section 43B Explanation 3C of the Income Tax Act, 1961 …
Cancellation of Registration of trust u/s 12AA and 80G for bogus donations was right. Entity misusing status conferred upon u/s 12AA not entitled to it – Supreme Court In the instant case, the Income Tax Department had challenged the order passed by the High Court setting aside the …
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 …
