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Supreme Court Allows Revenue's Appeal in Income Tax Case on Unexplained Investment in Silver Bullion. Section 69A of Income Tax Act, 1961 Applicable Where Assessee Fails to Explain Source of Acquisition of Silver Found in Possession.

The present appeals were filed by the Revenue against the judgment of the Rajasthan High Court which allowed the appeals of the assessee, Prakash Chan...

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High Court of Karnataka Hears Revenue's Appeals Against ITAT Decision Favoring Assessee on Deduction of Distributable Surplus Payment to Brand Owner. Court Examines Whether Payment is Allowable Under Section 37 of Income Tax Act, 1961 or Constitutes Application of Income or Diversion by Overriding Title.

The present set of five tax appeals arises under Section 260-A of the Income Tax Act, 1961, filed by the Revenue against the common order of the Incom...

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Bombay High Court Quashes ESI Order Passed Without Supplying Interim Reports to Employer — Violation of Natural Justice. Section 45A ESI Act assessment set aside as authority relied on Social Security Officer reports not shared with petitioner, remitted for fresh hearing.

The petitioner, SBI General Insurance Company Limited, challenged an order dated 29 December 2023/1 January 2024 passed by the Assistant Director, Aut...

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High Court of Karnataka Quashes Clarification and Declares CGST Rule 31A(3) Ultra Vires in Favor of Turf Clubs. GST Liability on Betting Amount Limited to Commission Retained, Not Entire Totalisator Collection, Under CGST Act, 2017.

The two writ petitions were filed by Bangalore Turf Club Limited and Mysore Race Club Limited, companies conducting horse racing and facilitating bett...

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Bombay High Court Allows Writ Petition in Sabka Vishwas Scheme Case — Petitioner Entitled to Interest on Delayed Refund Under Section 127 of Finance Act, 2019. The court held that the respondents' delay in refunding the amount under the scheme attracts interest liability.

The petitioner, Quant Broking Pvt Ltd, a stock broker and member of various stock exchanges, filed a declaration under the Sabka Vishwas (Legacy Dispu...

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Bombay High Court Upholds Levy of Market Fees on Vanaspati as Edible Oil Under Maharashtra APMC Act. Hydrogenated Vegetable Oil Held to Fall Within 'Edible Oils' Entry Added by 1987 Notification; Levy of Fees and Supervision Charges Upheld.

Two writ petitions were filed by companies manufacturing Vanaspati, challenging the levy of market fees and supervision charges by the Mumbai Agricult...

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Bombay High Court Allows Recovery Suit by National Textile Corporation Against Debtor for Unpaid Goods of Nationalised Mill. Contractual Interest Rate of 21% Reduced to 6% as Penal, Suit Held Within Limitation Under Article 14 of Limitation Act, 1963.

The plaintiff, National Textile Corporation Ltd., filed a suit for recovery of Rs.3,18,876/- with interest at 21% per annum from the defendant, M/s S....

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Supreme Court Allows Appeal Against Arrest Under PML Act — Validity of Arrest Under Section 19 PML Act Must Be Examined by Trial Court at Remand Stage

The Supreme Court heard an appeal by Arvind Kejriwal challenging his arrest by the Directorate of Enforcement (DoE) under Section 19 of the Prevention...