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Jan 30, 20243 min read
No Predicate Offence, No Money Laundering: Delhi High Court Upholds Acquittal of Dr. Jeevan Kumar
Introduction In the case of Jeevan Kumar v. Directorate of Enforcement[i], a petition was filed in the High Court of Delhi (‘Court’)...
Jan 29, 20243 min read
ITAT Strikes Down Notice under S. 148 of the IT Act for Lack of Prima Facie Satisfaction
Introduction In the recent case of AEP Investments (Mauritius) Ltd. v. The ACIT Circle Int Tax 1(1)(1), Delhi[i], the Income Tax...
Jan 25, 20242 min read
NCLAT Rejects the Corporate Debtor’s Late Financial Claim After CIRP Approval
NCLAT enforces strict CIRP timelines, dismissing Kotak Bank's 738-day late claim.
Jan 24, 20243 min read
Insolvency Resolution Process: Adherence to Procedural and Jurisdictional Requirements under IBC
Introduction The Insolvency and Bankruptcy Code, 2016 (‘IBC’) has been a transformative legislation in India, aiming to provide a speedy...
Jan 23, 20244 min read
Comprehensive Analysis of Set-Off Applicability Under the Insolvency and Bankruptcy Code
Introduction In the recent case of Bharti Airtel Ltd. (‘BAL’) v. Vijaykumar V. Iyer[i], the Hon’ble Supreme Court (‘SC’) clarified that...
Jan 22, 20243 min read
Decoding the Grey: ITAT Upholds Revenue’s Stance Against Penny Stock Schemes
Explore the ITAT's decisive ruling on tax exemptions for penny stock gains. A critical look at legal complexities.
Jan 22, 20243 min read
Dissecting S. 29A of the IBC: NCLAT Clarifies Resolution Applicant Eligibility in Insolvency Cases
Introduction This case, Vishram Narayan Panchpor v. Committee of Creditors[i], involves an appeal before the National Company Law...
Jan 22, 20244 min read
Dissenting Financial Creditors and Resolution Plans under IBC: Division Bench of Supreme Court Refers Matter to a Larger Bench
Introduction In the recent judgment in the matter of DBS Bank Limited Singapore v. Ruchi Soya Industries Limited and Another[i], the...
Jan 19, 20242 min read
[SC] SLP Filed by Income-Tax Department Dismissed on the Ground of Delay of 325 Days
Supreme Court stresses timeliness in rejecting a delayed tax appeal, underscoring legal punctuality's importance.
Jan 17, 20243 min read
PMLA: Anticipatory Bail Granted Due to Absence of 'Proceeds of Crime’
Explore how 'Proceeds of Crime' criteria influence anticipatory bail decisions under PMLA in our latest analysis.
Jan 16, 20245 min read
Interpreting PMLA Arrest Guidelines: Delhi High Court’s Perspective on Oral Communication of Grounds of Arrest
Introduction In the interlinked cases of Neeraj Singal v. Directorate of Enforcement [i] ( ‘ED' ), the Delhi High Court ( ‘DHC' )...
Jan 16, 20244 min read
Redefining Tax Notice Procedures: Rajasthan High Court's Critical Stance on Compliance and Jurisdiction
Introduction In a landmark judgment, the Rajasthan High Court bench at Jaipur (‘the Court’) pronounced a pivotal decision in Bijendra...
Jan 16, 20244 min read
Validity of Unregistered Agreement: ITAT holds that the Law Does Not Require an Agreement to be in Writing
ITAT confirms: Oral agreements are as valid as written ones for immovable property sales under s. 43CA, ensuring fairness in tax assessments
Jan 12, 20242 min read
Full Disclosure & Bona Fide Claims: The Deciding Factor Against Penalties in Tax Law
Introduction The Supreme Court (‘SC’) in the case of Principal Commissioner of Income Tax v. Indusind Bank Ltd.[i] dismissed the special...
Jan 10, 20243 min read
Rajasthan HC Emphasizes Timely Compliance & Accountability in Asset Seizure & Release
Rajasthan HC rules on timely asset release in ED seizures, stressing legal compliance and efficiency.
Jan 3, 20243 min read
High Court Quashes SCN issued under CGST Act: Pre-requisites for Issuance of SCNs in GST Proceedings Explained
Introduction The Calcutta High Court (‘the Court’) recently rendered a decision in the case of Diamond Beverages (P.) Ltd. v. Assistant...
Jan 2, 20244 min read
Supreme Court Rejects Retrospective Application of Pankaj Bansal Case in Supertech Founder’s Arrest under PMLA
Introduction In the matter of Ram Kishor Arora v. Directorate of Enforcement[i] (‘ED’), the Hon’ble Supreme Court (‘Apex Court’) held...
Jan 2, 20243 min read
The Power Play: Official Liquidators v. SFIO Investigations
Introduction In a landmark decision by the Allahabad High Court (‘the HC’), in the case of Reserve Bank of India v. Kubar Mutual Benefits...
Dec 30, 20233 min read
[Delhi HC] Cumulative Satisfaction of Twin Conditions Required for Invoking Section 263 Jurisdiction, Income-tax Act, 1961.
Delhi HC sets a precedent on s. 263 jurisdiction: AO orders must be both erroneous and prejudicial to the revenue to be considered valid.
Dec 29, 20233 min read
SARFAESI Act: HC Refuses to Entertain Disputes Under SARFAESI on Grounds of Alternate Remedy
High Court of Punjab & Haryana emphasizes SARFAESI's self-contained remedies, limiting intervention to only unique legal queries.