Karnataka RERA Orders Ozone Infra to Pay Rs 19.87 Lakh Interest to Homebuyers for Four-Year Possession Delay

The Karnataka Real Estate Regulatory Authority (K-RERA) has directed Ozone Infra Developers to pay Rs 19.87 lakh as interest for the delayed handover of an apartment to two homebuyers who have been waiting for possession for over four years beyond the promised date. The authority also asked the developer to hand over possession at the earliest after obtaining the Occupancy Certificate....

New RSP Based Valuation Mechanism, 40% GST Rate On Pan Masala, Cigarettes, Cigars, Tobacco Products From February 01

Central Board of Indirect Taxes & Customs (CBIC) has notified upward revision of GST rate on tobacco and related products together with legislative changes to the GST Rules, enforceable from February 01 2026. To phase out Compensation Cess on Pan Masala, Tobacco and Allied Products, CBIC has issued a Notification on Wednesday to prescribe a NIL rate of Compensation Cess on...

TN RERA Orders Mahindra Lifespace Developers To Fix Defects, Activate Amenities At Thiruvallur Project

The Tamil Nadu Real Estate Regulatory Authority (TN RERA) has recently directed Mahindra Lifespace Developers to fix defects in C Block of its Mahindra Happinest Avadi project in Thiruvallur district and make essential facilities fully operational before handing them over to homebuyers. A bench comprising Chairperson Thiru. Shiv Das Meena and Members Dr L Subramanian, M. Krishnamoorthy held...

Income Tax Act | Gujarat High Court Quashes S.153C Assessment As Time-Barred, Rejects Revenue's Reliance On S.153(6)(i)

The Gujarat High Court quashed assessment order as well as a demand notice issued to an entity under Section 153C Income Tax Act after noting that the assessment order was issued invoking Section 153(6)(i) was beyond the limitation period. The petitioner had moved the high court for quashing Assessment Order dated 30.04.2024 as well as the demand Notice dated 30.04.2024 for the Assessment...

Arbitral Award Holder Must Return Amount Withdrawn From Court After Insolvency Resolution: Bombay High Court

The Bombay High Court has held that where an arbitral award passed against a company is under challenge, and the company later successfully comes out of insolvency, the award holder cannot retain money withdrawn from court deposits if the claim itself is wiped out under an approved resolution plan. The court said such amounts must be returned, as the award itself no longer survives....

Business Law Daily Round-Up: January 01, 2026

TAX CBI Court Convicts Central Excise Inspector In Disproportionate Assets Case, Awards 5 Yrs Imprisonment & ₹63 Lakh Fine; Wife Jailed For Abetment Gujarat High Court Grants Relief After Transfer Pricing Objections Were Mistakenly Filed Before Wrong Authority, Quashes Final AssessmentTree Plantation & Maintenance In Non-Forest Areas By Charitable Trust Exempt From GST: Gujarat...

Refunds Under Vivad Se Vishwas Scheme Cannot Be Enforced Under Insolvency Jurisdiction: NCLT Chennai

The National Company Law Tribunal (NCLT) at Chennai has held that refunds claimed under the Vivad Se Vishwas–I Scheme, a government COVID-19 relief measure that allows MSMEs to seek return of most performance guarantees forfeited during the pandemic, cannot be enforced through insolvency proceedings under Section 60(5) of the Insolvency and Bankruptcy Code. In a recent order, the tribunal...

Liquidator Cannot Claim Fee On SARFAESI Realisations Outside Liquidation Estate: NCLT Ahmedabad

The National Company Law Tribunal (NCLT) at Ahmedabad recently held that when a secured creditor enforces its security interest under the SARFAESI Act without involving the liquidator, the amount realised does not form part of the liquidation estate. The liquidator therefore count in that sale to compute the liquidator's fee.A coram of Judicial Member Shammi Khan and Technical Member...

Delhi High Court Rejects Zydus Plea Against Helsinn's Nausea Medication Patent

The Delhi High Court has refused to interfere with the grant of a pharmaceutical patent for a nausea medication dismissing a challenge by Zydus Healthcare Ltd. against Swiss drugmaker Helsinn Healthcare SA The court held that the Patent Office committed no jurisdictional error and did not violate principles of natural justice while granting the patent. In a judgment dated December 24,...

Intellectual Property Rights Annual Digest 2025- Part 3

Patents Act, 1970 International Reports US Court Orders EscapeX, Lawyers To Pay Google USD 2.5 Lakh As Cost For Frivolous Patent Suit Case Title: EscapeX IP LLC v. Google LLC The U.S. Federal Circuit upheld orders directing EscapeX to pay Google over USD 2.5 lakh in attorney fees, finding that EscapeX filed a frivolous patent suit and then prolonged the case with an...

Bombay HC Restores IMAX's Enforcement Of Foreign Awards Against E-City, Holds Res Judicata Bars Re-Agitation Of Limitation At Later Stage

The Bombay High Court has recently restored enforcement proceedings initiated by IMAX Corporation for execution of foreign arbitral awards against E-City Entertainment (I) Pvt Ltd for breach of contractual obligations, holding that the doctrine of res judicata applies even between different stages of the same enforcement petition. The court said it cannot revisit an objection...

Gujarat High Court Upholds CESTAT's Order Rejecting Plea To Restore Delay Condonation Application Filed After 7 Yrs

The Gujarat High Court upheld an order of the Customs, Central Excise and Service Tax Appellate Tribunal which had dismissed a cooperative society's plea seeking restoration of its condonation of delay application on the ground that it was filed after an inordinate delay of 7 years.The court noted that the petitioner had not provided any explanation for such delay except that it was facing...