supreme court

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Breaking: Loan Taken For Carrying On Business Of Financing is Allowable As General Deduction Under Income Tax Act- Supreme Court

In the case of WIPRO Finance Limited Vs CIT, the Supreme Court of India has held that: The Hon’ble three judges bench of Supreme Court in this case was considering assessee’s appeal against the order of the High court which had reversed the findings of ITAT that the expenditure of Rs 1.10 crore towards foreign …

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Big Blow To Loop Telecom From Supreme Court

Big Blow To Loop Telecom From Supreme Court

Loop Telecom has got a big setback from the Supreme Court. In fact, the court has dismissed his plea for refund of Rs 1,454 crore paid as license fee for unified access license and 2G spectrum and Rs 1,000 crore for reputation damage after its cancellation. It is worth mentioning that this whole matter is …

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Employer Will Compensate For The Loss Due To Delay in EPF Contribution: Supreme Court

Employer Will Compensate For The Loss Due To Delay in EPF Contribution: Supreme Court

The employer will have to compensate the loss for delay in contribution to the Employees’ Provident Fund (EPF). The Supreme Court has given this arrangement on Wednesday. According to the news of PTI, a bench of Justice Ajay Rastogi and Justice Abhay S Oka said that the Employees’ Provident Fund and Miscellaneous Provisions Act provides …

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Supreme Court Issues Notice To Decide Whether DRI Officer is Proper Officer Under Customs Act

Supreme Court Issues Notice To Decide Whether DRI Officer is Proper Officer Under Customs Act

In the case of Canon India Private Limited, the Supreme Court has said that: More importantly, however, when questioned in this regard, it is pointed out that Section 28(11) would come to the rescue of the petitioners for the reason that the Additional Director General will be treated as ‘proper officer’ under the said provision …

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Supreme Court Directions For Compensation To Persons Died Of COVID-19

Supreme Court Directions For Compensation To Persons Died Of COVID-19

The Supreme Court’s directions for compensation to persons who died of COVID-19. The directions are summarized as under: 1.) The next of kin of the deceased who died due to Covid-19 shall be paid ex-gratia assistance of an amount of Rs. 50,000. 2.) That this compensation shall be disbursed by the District Disaster Management Authority/ …

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Supreme Court's Judgement On Recalling Of Order By ITAT Under The Income Tax Act

Supreme Court’s Judgement On Recalling Of Order By ITAT Under The Income Tax Act

In the case of CIT vs Reliance Telecom Ltd., Supreme Court has held that: 1.) Feeling aggrieved and dissatisfied with the impugned common judgment and order dated 08.08.2017 passed by the High Court of Judicature at Bombay in Writ Petition No. 1432/2017 and Writ Petition No. 1406/2017, by which the High Court has dismissed the …

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Supreme Court Reverses The Decision of Delhi High Court In The Case of Bharti Airtel Ltd.

The Delhi High Court [W.P. (C) No. 6345 of 2018 dated May 05, 2020] had allowed Bharti Airtel Ltd. to rectify GSTR-3B Return for the period July 2017 to September 2017 and claim refund. The Delhi High Court also directed the Respondents that on filing of the rectified Form GSTR-3B, they shall, within a period …

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Major Setback to Those Who have Followed the Judgement of Gujarat High Court in Respect of Inverted Duty Structure As Supreme Court Quashes the Judgement [Read Judgement]

Major Setback to Those Who have Followed the Judgement of Gujarat High Court in Respect of Inverted Duty Structure As Supreme Court Quashes the Judgement [Read Judgement]

In the case of Union of India & Ors. vs VKC Footsteps India Pvt Ltd, the Supreme Court has quashed the judgement of Gujarat High Court and Upheld the judgement of Madras High Court in respect of Inverted Duty Structure. Mainly, the judgement has two parts: (1.) Net ITC means ITC only on Inputs (Goods). …

Major Setback to Those Who have Followed the Judgement of Gujarat High Court in Respect of Inverted Duty Structure As Supreme Court Quashes the Judgement [Read Judgement] Read More »

Breaking: Supreme Court Issues Notice to CBDT on the Issue of No Personal Hearing in Faceless Assessment Scheme

Breaking: Supreme Court Issues Notice to CBDT on the Issue of No Personal Hearing in Faceless Assessment Scheme

Supreme Court has issued notice to the CBDT on the issue of no personal hearing in faceless assessment scheme (returnable on 1st October 2021). The petitioners filed petition on the ground that no personal hearing has been granted and that such a discretion may not be left to the Chief Commissioner or the Director General. …

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DREAM11

Supreme Court Upheld Online Fantasy Gaming Site Dream11’s fantasy sports Format as a ‘Game of Skill’

The Supreme Court has upheld online fantasy gaming site Dream11’s fantasy sports format as a ‘game of skill’ by its order dated 30th July 2021. Through this order, it dismissed a Special Leave Petition (SLP) that alleged that the Online Fantasy Sports (OFS) format offered by Dream11 amounted to gambling, wagering and betting and is …

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TAX

Supreme Court’s Judgement in Vodafone Idea Ltd vs ACIT Case

COURT: Supreme Court CORAM: Uday Umesh Lalit J, Vineet Saran J SECTION(S): 143(1), 143(2), 241A GENRE: Domestic Tax CATCH WORDS: Refund COUNSEL: J.D. Mistri, Zoheb Hossain DATE: April 29, 2020 (Date of pronouncement) DATE: April 30, 2020 (Date of publication) AY: 2017-18 CITATION: [ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”2″ ihc_mb_template=”1″ ] Grant of refund u/s 143(1): Till AY 2016-17, if a scrutiny …

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JUDGEMENT

Supreme Court’s Judgement on Section 254(2A) of the Income Tax Act: DCIT vs Pepsi Foods Ltd

COURT: Supreme Court CORAM: B. R. Gavai J, Hrishikesh Roy J, Rohinton Fali Nariman J. SECTION(S): 254(2A) GENRE: Domestic Tax COUNSEL: Ajay Vohra, Deepak Chopra, Himanshu S. Sinha, Sachit Jolly, Vikramjit Banerjee ASG DATE: April 6, 2021 (Date of pronouncement) DATE: April 7, 2021 (Date of publication)   CITATION: [ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”2″ ihc_mb_template=”1″ ] Section …

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SUPREME COURT AND ICAI

Supreme Court to ICAI: You have to Respect Student’s Option

As ICAI exams’ matter is in Supreme Court, the SC directs ICAI today that “We are of the concerned opinion that the option will be with the candidate and you have to respect that option. If you are changing according to your preferences, you cannot force the candidate to follow.” SC also said that “In …

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Ministry of law and justice

Draft Model Rules for Live-Streaming and Recording of Court Proceedings released by e-Committee of Supreme Court

The e-Committee, Supreme Court of India has released the Draft Model Rules for Live-Streaming and Recording of Court Proceedings and has invited inputs, feedback and suggestions on it from all the stakeholders.  The Draft Model Rules are available on the e-committee website https://ecommitteesci.gov.in/document/draft-model-rules-for-live-streaming-and-recording-ofcourt-proceedings/  The e-Committee of Supreme Court of India along with the Department of …

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SC

Supreme Court asks Centre to explain rationale adopted in COVID 19 vaccine pricing

The Supreme Court has asked the Union of India (UOI) to explain the basis and rationale adopted with respect to pricing of COVID vaccines and other necessary items.  The apex court said each of the state government has to file their respective replies by Thursday 6 pm in connection with their respective states with regard …

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SUPREME COURT

E-filing 3.0 Module Launched by the Supreme Court Allows Client, Advocate and Court to Complete the Proceedings Virtually

Dr Justice Dhananjaya Y. Chandrachud, Judge, Supreme Court of India and Chairperson, e-Committee of the Supreme Court, inaugurated an e-Filing 3.0 module to allow electronic filing of court documents, through a virtual event. The e-filing 3.0 module, introduced by the e-Committee of the Supreme Court, allows electronic filing of court documents. With the introduction of …

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Country Needs to Come Out of this Tax Culture that “All Businesses are Fraudulent”: Supreme Court

In a case, Justice Chandrachud today said that “The country needs to come out of this tax culture that ‘all businesses are fraudulent’. Even where 12 crore tax has been paid (by the assessee), just because some tax is still due, you can’t start attaching property! If there is any alienation of assets or the assessee is winding up or going into liquidation, it is understandable. But just because you have the account numbers, you can’t start attaching and even block the receivables!”

Sahin Bagh

Supreme Court says occupying public places for protests is not acceptable

The Supreme Court has said that occupying public places for protests is not acceptable and such a space cannot be occupied indefinitely. The top court’s verdict came on a plea against the Anti-Citizenship Amendment Act protests which had led to blocking of a road in Shaheen Bagh in the national capital last December. A bench …

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Government will pay interest if you have taken Moratorium

Government will pay interest if you have taken Moratorium The Central Government has filed an affidavit in the Supreme Court that the compound interest applicable on MSME, Education, Home, Consumer, Auto loans will be waived. Apart from this, this interest will not be collected even on credit card dues. This rule is only for loans …

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