April - 2024

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Apr 303 min read

Supreme Court Rules: Registration Alone is Not Enough for a Valid Hindu Marriage, Ceremonies are Essential

SC rules: Marriage registration isn’t valid without ceremonies. Solemnization is key to a true Hindu marriage under the law.

Apr 303 min read

Court rulings

Adherence to Procedural Timelines: Tribunal upholds ED’s Provisional Attachment

Tribunal upholds ED's asset attachment, emphasizing strict adherence to procedural timelines in money laundering cases.

Apr 303 min read

Court rulings

Legislation by Incorporation v. Legislation by Reference: Supreme Court Explains the Jurisdiction of Special Courts

SC rules on Special Courts' jurisdiction, outlining key distinctions in legislative incorporation and reference.

Apr 303 min read

Court rulings

Customs v. IBC: Who controls confiscated assets?

NCLAT rules on asset control in insolvency, balancing customs authority and IBC mandates.

Apr 293 min read

Orissa HC Quashes Prosecution for Delay in TDS Submission When Delays Are Well Substantiated and TDS Deposited Prior to Prosecution

HC rules on justified TDS delays due to COVID-19 and CIRP, negating prosecution after payment.

Apr 293 min read

Court rulings

Bank’s Oversight: Supreme Court Upholds Procedural Compliance in Auction Sales under the SARFAESI Act

SC affirms the need for strict procedural compliance in bank auctions, reinstates tenants, and mandates interest on returns.

Apr 295 min read

Updates

Reserve Bank of India - Master Directions on Asset Reconstruction Companies, 2024

Introduction The Reserve Bank of India ( ‘RBI’ ) released the Master Direction – Reserve Bank of India (Asset Reconstruction Companies)...

Apr 294 min read

Court rulings

Interim Moratorium Does Not Commence If Application Is Filed Before a Forum Devoid of Jurisdiction

Discover how a jurisdiction error impacted a case on interim moratoriums, setting a significant legal precedent.

Apr 279 min read

Insights

Cooperating with Resolution Professionals: A Cornerstone of Effective Resolution

Explore how Section 19 of the IBC mandates key cooperation for effective insolvency resolution, impacting all stakeholders involved.

Apr 272 min read

Court rulings

Bombay High Court Prohibits Issuance of S. 148 Tax Notices Following Approval of Corporate Resolution Plans

Bombay HC declares S. 148 notices void post-resolution, ensuring clean slates for companies under new management.

Apr 273 min read

Court rulings

Understanding the Legal Importance of Notes of Accounts in Financial Statements

Supreme Court rules: Omitting notes from balance sheets can disqualify bidders—key for legal compliance!

Apr 253 min read

Court rulings

Cross-Empowerment under GST: Madras High Court Examines Jurisdictional Boundaries

Madras HC clarifies GST cross-empowerment: Central vs State tax authority jurisdiction reaffirmed for procedural clarity.

Apr 245 min read

Court rulings

[Supreme Court] Unfounded Conclusions or Awards That Disregard Evidence Are Legally Flawed and Can Be Challenged on Grounds of Patent Illegality

SC uses inherent powers to correct perverse arbitral awards in DMRC vs. DAMEPL, emphasizing the significance of patent illegality.

Apr 238 min read

Insights

Arm’s Length Principle in Transfer Pricing: A Conceptual Analysis

The arm’s length principle is the international standard for determining the taxability of profits resulting from transactions between...

Apr 222 min read

Court rulings

Rajasthan High Court Clarifies Limitation Period under Section 263 of the Income-tax Act, 1961

The Rajasthan High Court ruled that the limitation period for Section 263 revision should be calculated from the original assessment date.

Apr 223 min read

Court rulings

NCLT Proceedings Prevail Over Enforcement Directorate Proceedings

Kerala HC ruling emphasizes IBC's authority over PMLA, allowing asset liquidation to proceed balancing legal and creditor interests.

Apr 202 min read

Court rulings

Beyond the Guidelines: Delhi High Court Upholds Statutory Provisions in Compounding Applications

Delhi HC: Admin guidelines can't override statutes in compounding applications, ensuring fair balance in Earthcon Constructions case.

Apr 203 min read

Court rulings

Delhi High Court Rules on the Effect of Acquittal in Money Laundering Cases

DHC verdict impacts future money laundering cases, highlighting key legal precedents.

Apr 193 min read

Updates

RBI Proposes Comprehensive Draft Directions to Streamline Payment Aggregator Oversight

RBI sets new norms to regulate Payment Aggregators, enhancing transparency and security in digital payments.

Apr 194 min read

Court rulings

Defining SARFAESI Boundaries: Supreme Court’s Directives on High Court’s Intervention under Writ Jurisdiction

SC clarifies when HCs should step in under Article 226, emphasizing strict adherence to SARFAESI processes and remedies.

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