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Supreme Court Allows Secured Creditor's Appeal in Priority Dispute Between SARFAESI Act and MSMED Act. SARFAESI Act's Express Priority Provisions Under Section 26E Prevail Over MSMED Act's Recovery Mechanism, as No Conflict Exists and Priority Must Be Expressly Provided.

The dispute arose from conflicting recovery claims under the SARFAESI Act and MSMED Act against a debtor, Mission Vivacare, which had defaulted on loa...

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Supreme Court Allows Assessees in Interest Tax Act Case on Hire-Purchase Instalments. Hire-purchase agreements are distinct from loans, and interest component in instalments is not taxable under Section 2(7) of the Interest-Tax Act, 1974, as it does not constitute interest on loans and advances.

The dispute involved a batch of civil appeals concerning the tax liability of non-banking finance and leasing companies under the Interest-Tax Act, 19...

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Supreme Court Allows Appeal in Motor Vehicle Accident Claim, Restoring Compensation Based on Income Tax Returns. Income Tax Returns and Audit Reports Held Reliable Evidence for Determining Loss of Income Under Section 168 of Motor Vehicles Act, 1988, Overturning High Court's Use of Notional Income.

The Supreme Court heard a civil appeal arising from a motor vehicle accident claim. The deceased, a businessman aged above 31 years, died in a collisi...