Corporate
Supreme Court 7-Judge Reserves Judgment On States' Power To Levy Surcharge/Additional Tax On Sales Tax
The Centre said that the issues have become largely academic after the enactment of the GST Act in 2017
Central Government Can Authorise Any Officer Other Than SFIO Director To File Fraud Complaints Under Companies Act: Supreme Court
The Court dismissed Centre’s review plea against judgment holding that private complaint alleging fraud by a company is not maintainable.
'Arbitration Cannot Be Arbitrary' : Supreme Court Sets Aside Arbitral Tribunal Appointment For Lack Of Consent
The Court quashed the attachment orders passed by the Tribunal noting that the Tribunal's appointment was non-est.
Supreme Court Seeks Centre's Report On NCLT Benches' Infrastructure Facilities
The Supreme Court on Monday called for a status report from the Centre on the infrastructural facilities available to the National Company Law Tribunal (NCLT) benches.The Court also directed the Union Government to identify the basic amenities urgently required by the National Company Law Tribunal (NCLT) after discussing with the NCLT President.Hearing an application filed by the NCLT...
Income Tax | CBDT Circular Not Binding On Court : Supreme Court
Reiterating that CBDT circulars are not binding on Courts, the Supreme Court recently dismissed a batch of appeals filed by assessees claiming deductions under Section 80HHC for the premium they received on the sale of their export quota. Section 80HHC provided tax deductions on export profits for Indian companies and resident taxpayers, but no deduction is available from April 1, 2005,...
Litigant Mustn't Suffer When Delay Is Due To E-Filing Technical Glitch : Supreme Court Restores NCLAT Appeal
The Supreme Court has recently held that a litigant cannot be shown the door merely because an appeal was e-filed a day beyond the statutorily condonable period, where the delay was caused solely by a technical glitch in the tribunal's own e-filing portal.A bench of Justice Dipankar Datta and Justice Sheel Nagu held so while setting aside an order of the National Company Law Appellate...
Supreme Court Asks RBI To Issue Directions To Prevent Forcible Repossession Of Vehicles By Banks, NBFCs
The Supreme Court on Wednesday (16.09.2026) has directed the Reserve Bank of India (RBI) to take effective steps to secure genuine compliance by Non-Banking Financial Companies (NBFC) and Scheduled Commercial Banks with the Guidelines, Master Circulars, and Clarifications it has issued over the years on recovery practices, observing that such instruments “have existed only on paper, and...
Income Tax | AO Cannot Reopen Assessment Settled By Settlement Commission : Supreme Court
The Supreme Court on Wednesday (September 16) held that once an Income Tax Settlement Commission passes an order determining the net taxable income, it is impermissible for the Assessing Officer to issue a reassessment notice against the assessee under the Income Tax Act. “If the jurisdiction of the AO under Sections 143(2), 148, 154, etc., is made independent and available for...
SARFAESI Proceedings Can Be Invoked Despite Earlier Decree Passed In DRT OA For Same Debt : Supreme Court
The Supreme Court has recently dismissed a writ petition filed under Article 32 of the Indian Constitution challenging the invocation of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) by an Asset Reconstruction Company (respondent), holding that the overriding effect of Section 35 of the SARFAESI Act permits such...
Punjab & Haryana High Court Strikes Down Section 147A Income Tax Act As Unconstitutional
The Punjab & Haryana High Court struck down the newly inserted Section 147A of the Income Tax Act, 1961, which retrospectively clarifies the role of the Jurisdictional Assessing Officer (JAO) in reassessment proceedings.The bench of Justice Deepak Sibal and Justice Rupinderjit Chahal pronounced the decision today. A detailed order is awaited.Section 147A was introduced with...
Release Of Escrow Under SEBI Buyback Regulations Does Not Bar Separate Fraud Inquiry : Supreme Court In Vedanta Case
The Supreme Court on Wednesday (09.09.2026) has held that release of the cash escrow deposited by a company under Regulation 15B(8) of the Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 (Buyback Regulations), does not operate as a bar to a separate and independent inquiry into fraud under the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating...