AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
FeaturedThe Supreme Court deleted income tax addition under Section 43B for unpaid excise duty on closing stock, upholding tax auditor's report showing reversal of such liability from profit and loss account.
FeaturedSupreme Court deletes income tax addition under Section 43B for unpaid excise duty on closing stock based on tax auditor's report, affirming that liability must be actual and not notional.
FeaturedSupreme Court held that the Committee of Creditors cannot withdraw an approved resolution plan merely because the corporate debtor's financial position has improved.
FeaturedThe Supreme Court has ruled that a Securitisation Recovery Application (SRA) can proceed on outstanding dues, rejecting 'clean slate' argument where it would cause grave inequity to the creditor.
FeaturedSupreme Court rules that the limitation period under Section 62 of IBC begins from the date of the NCLAT order, not from the receipt of the certified copy.
FeaturedSupreme Court grants bail to Sanjay Sureka in PMLA case linked to Concast Steel, dismissing challenge to arrest based on five-day reporting delay. Prolonged custody scrutinized under constitutional standards.
FeaturedSupreme Court held Section 212(3) of Companies Act is directory, restoring SFIO investigation into Sahara Group despite delay.
FeaturedSupreme Court grants bail to Sanjay Sureka in Concast Steel laundering case; five-day delay under PMLA does not vitiate arrest.
FeaturedSupreme Court holds that the 60-day limitation period for appeals under IBC Section 62 begins from the date of NCLAT’s order, not the receipt of certified copy, aligning with statutory interpretation principles.
FeaturedSupreme Court grants bail to Sanjay Sureka in Concast Steel money laundering case; five-day delay under PMLA not fatal to arrest.
FeaturedSC grants bail to Sanjay Sureka in PMLA case; five-day delay in Section 19(2) filing did not vitiate arrest.
FeaturedThe Supreme Court held that tax classification of goods must be determined by their physical form at the time of sale, not by their end use or subsequent transformation by the consumer.
FeaturedThe Supreme Court dismissed the Revenue's SLP challenging the Gujarat High Court's quashing of a reassessment under Section 148, affirming that a mere change of opinion cannot sustain reopening of assessment.