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Supreme Court Partially Allows Appeal in Recovery Suit Against Sick Industrial Company — Suspension of Proceedings Under Section 22(1) of SICA Does Not Bar Suit for Unadmitted Debt. High Court's Grant of 24% Compound Interest Reduced to 12% Simple Interest.

The case involves a dispute between Fertilizer Corporation of India Ltd. (FCIL), a public sector undertaking, and M/s Coromandal Sacks Private Limited...

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Supreme Court Directs Payment of Occupational Charges in Landlord-Tenant Dispute Pending Determination of Applicable Tenancy Law. The Court held that a tenant continuing in possession after forfeiture of lease is liable to pay mesne profits at market rate, not contractual rent, under Section 2(12) CPC.

The Supreme Court was hearing special leave petitions filed by a landlord challenging a judgment of the Calcutta High Court which held that the landlo...

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Bombay High Court Quashes VIDC Circular Imposing Unilateral Deduction of Income Tax at Source on Contractors Without Statutory Authority. Circular No. 9 dated 17.02.2020 directing deduction of TDS on gross value of works contract without considering provisions of Income Tax Act, 1961 held ultra vires.

The petitioner, M/s Musale Constructions, a partnership firm engaged in construction business, had been awarded various works contracts by the Vidarbh...

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Supreme Court Dismisses Appeal of 100% EOU in Customs Duty Case for Unauthorized DTA Sales of Cut Flowers. Cut Flowers Held Non-Excisable, Duty Leviable on Inputs Under Notification No. 126/94-Cus as Amended, Extended Limitation Period Invoked for Wilful Suppression.

The appeal arises from a dispute between M/s. L.R. Brothers Indo Flora Ltd., a 100% Export Oriented Unit (EOU) engaged in floriculture, and the Commis...

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Supreme Court Dismisses Appeals of Generating Company and State Utility in Electricity Tariff Dispute. Deemed Generation Incentive Not Payable After 1995 Notification; Supplementary Agreement Bars Retrospective Interest on Deemed Loan.

The Supreme Court dismissed two appeals arising from a common order of the Appellate Tribunal for Electricity (APTEL) concerning a power purchase agre...

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Supreme Court Dismisses Appeals by Manufacturers in Sikkim Seeking Exemption from Education Cess and NCCD. Exemption Notification Strictly Construed; Cesses Not Covered as They Were Imposed by Separate Finance Acts After the Notification.

The Supreme Court dismissed two civil appeals filed by M/s. Unicorn Industries and Akshay Ispat and Ferro Alloys Private Limited against the judgment ...