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Debt Cannot Be Classified as a Loan in the Absence of a Contract or Agreement – NCLAT Delhi
Debt lacks the legal framework of a loan without a formal contract, rules NCLAT Delhi in Metamorphosis Trading LLP v. Sankalp Engineering.
May 20, 20243 min read
Significance of 'Fees for Included Services' in Indo-USA DTAA
Explore how 'Fees for Included Services' shape cross-border tax rules in our latest legal insight on the Indo-USA DTAA.
May 20, 20242 min read
PMLA Charges Persist Despite Approver Status in Predicate Offence: Bail Granted Due to Lack of Mens Rea and Procedural Compliance
Delhi HC grants bail in PMLA case, noting lack of direct involvement and mens rea.
May 20, 20244 min read
Legislative Precision: India’s BEPS Response and International Tax Reforms
India’s proactive BEPS response aligns tax laws with global standards, addressing digital economy challenges and fostering fair taxation.
May 19, 202411 min read
NCLT Approves Distribution of Not Readily Realisable Assets Among Stakeholders in Liquidation Case
ITAT Hyderabad clarifies that crediting revalued assets to partner accounts triggers capital gains under ITA's s. 45(4)
May 19, 20242 min read
Discrepancy Between Reasons in Notice Under S. 148A(b) and Order Under S. 148A(d) Renders Notice Ineffective and Mere Formality
HC upholds the need for consistent tax notice reasons to ensure fair taxpayer response.
May 18, 20243 min read
Coordinated Investigation and Administrative Convenience: Delhi High Court Upholds Centralization of Cases
Delhi HC upholds centralization of tax cases, highlighting the importance of coordinated investigation and administrative convenience.
May 18, 20243 min read
Investments into Foreign Funds: FEMA Implications
Navigate the complex terrain of outbound investments with our summary of FEMA and OI Rules for Indian residents investing in foreign funds.
May 18, 20243 min read
[AAR – Andhra Pradesh] Compensation Received in Respect of Liquidated Damages Was Taxable under the CGST Act
AAR ruled recovery of liquidated damages as taxable under the CGST Act, impacting contract penalties.
May 18, 20244 min read
Bank of Foreign Economic Affairs v. Enforcement Directorate: Tribunal Addresses Compliance and Justice in FERA Violations
Tribunal revises hefty FERA fine, affirming both law and fairness in complex global finance.
May 18, 20243 min read
Competition Commission of India Amends General Regulations: New Norms for Accessing Confidential Information
New CCI rules enhance data privacy and streamline legal procedures for accessing confidential info.
May 17, 20242 min read
Delhi High Court Orders Re-evaluation of Tax Dispute, Stresses AO's Duty to Assess on Merits
Delhi HC asserts AO must weigh merits, not just enforce 20% tax pre-deposits.
May 16, 20242 min read
Prosecutions under PMLA: Provisions and Key Issues
Exploring India's PMLA: A pivotal law against money laundering, blending procedure with enforcement.
May 14, 202411 min read
Non-Bailable Warrants Will Not Be Issued Unless the Accused Is Likely to Abscond or Destroy Evidence
Supreme Court clarifies when non-bailable warrants can be issued, emphasizing individual liberty and case-specific scrutiny.
May 14, 20243 min read
Legality of Summons Issued for Attendance During Investigation
Explore the critical role of summonses in legal investigations, ensuring compliance and procedural fairness.
May 13, 20249 min read
Supreme Court Clarifies Applicability of S. 106 of the Evidence Act & Exception 4 to S. 300 of the IPC in a Landmark Judgment
SC clarifies Evidence Act's Section 106 & IPC's Exception 4 in landmark Anees judgment, ensuring fair trials and balanced justice.
May 13, 20245 min read
Bombay High Court Rules on the Inapplicability of S. 32A IBC Protections to Natural Persons and Existing Directors
Explore how Bombay HC clarifies s. 32A IBC protections don't shield directors or individuals in ongoing criminal cases.
May 13, 20243 min read
Bombay High Court Clarifies FAO's Authority Over S. 148 Notice Issuance and Tax Escapement Cases
Explore how the BHC shapes tax law, enhancing fairness in tax reassessment and deduction validity.
May 13, 20247 min read
SEBI Issues Comprehensive Master Circular for Alternative Investment Funds
SEBI's new Master Circular enhances AIF regulation, boosting investor safety and market transparency
May 13, 20248 min read
[ITAT] Revenue from Software Licensing Fees and Annual Maintenance Contracts Not Taxable in India Due to Absence of Permanent Establishment
ITAT rules in favor of Openwave Mobility Inc., finding software licensing fees and maintenance contracts non-taxable in India without a PE.
May 13, 20244 min read