Category: Supreme Court
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 …
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 …