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Bombay High Court Hears Writ Petition Challenging Validity of Reopening Notice Under Section 148 of Income Tax Act for Assessment Year 2015-16. The Reopening Based on Alleged Escaped Income from Capital Reduction Transaction Is Contested on Grounds of Full Disclosure During Original Assessment.

The petitioner, an investment holding company incorporated in Singapore and under creditors' voluntary liquidation, held shares in Lehman Brothers Cap...

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Supreme Court Upholds Royalty on Run-of-Mine Coal for Period Prior to Insertion of Rule 64B and 64C in Mineral Concession Rules, 1960. Processed or Beneficiated Coal Attracts Royalty After Effective Date of Notification Dated 25th September, 2000.

The dispute involved multiple appeals before the Supreme Court arising out of conflicting interpretations of the stage at which royalty becomes payabl...

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Supreme Court Allows Union's Appeals in Advance Authorization IGST Exemption Case. The Court upholds the pre-import condition as a valid policy measure to prevent double benefit and cash blockage, reversing the Gujarat High Court's decision.

The case involves appeals by the Union of India against a Gujarat High Court judgment that set aside the mandatory 'pre-import condition' for claiming...

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Supreme Court Allows Appeals in Arbitration Appointment Dispute — Pre-Amendment Act Applies; No Claim Certificate Does Not Bar Arbitration; Mutually Agreed Procedure Must Be Respected

The Supreme Court heard a batch of appeals arising from orders of the Rajasthan High Court appointing independent arbitrators under Section 11(6) of t...