Net profit rate may not per se experience variation commensurate to the increase of turnover. In a recent judgment, Allahabad High Court has held that net profit rate may not per se experience variation commensurate to the increase of turnover. No principle in law is available to necessarily …

Mushroom growing apparatus cannot be classified as ‘agricultural machinery’ under Customs Tariff Heading 8436. In a recent judgment, Hon’ble Supreme Court has held that mushroom growing apparatus cannot be classified as ‘agricultural machinery’ under Chapter Heading 8436 under Customs Tariff. ABCAUS Case Law Citation:4977 (2026) (01) abcaus.in SC …

Statutory presumption attached to issuance of a cheque, being one made in discharge of a legally enforceable debt or liability, is required to be accorded due weight. In a recent judgment, Hon’ble Supreme Court held that the statutory presumption attached to the issuance of a cheque, being one …

Merely because the authority conducting auction expects higher bid than the highest bidder is no reason to discard the highest bid. In a recent judgment, Hon’ble Supreme Court has held that merely because the authority conducting the auction expected a higher bid than what the highest bidder had …

Provisions of the Limitation Act, 1963 not apply to quasi-judicial bodies or tribunals, unless they are specifically empowered in that regard – Supreme Court  In a recent judgment, Hon’ble Supreme Court has held that provisions of the Limitation Act, 1963 apply only to suits, applications or appeals made …

RBI notifies the Foreign Exchange Management (Guarantees) Regulations, 2026 RBI has notified the Foreign Exchange Management (Guarantees) Regulations, 2026. The Notification No. F. No. FEMA 8(R)/2026-RB dated 6th January 2026 has been issued in exercise of the powers conferred by sub-section (2) of Section 6 and subsection (2) …