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Supreme Court Upholds Territorial Limitation of Sales Tax Exemption After State Bifurcation. Benefit of exemption/deferment granted under unified Madhya Pradesh is confined to the state where the industrial unit is located and does not extend to inter-state transactions with the other successor state.

The Supreme Court considered a batch of appeals arising from the bifurcation of the State of Madhya Pradesh into the reorganised State of Madhya Prade...

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Supreme Court Sets Aside Arbitrator Appointment Due to Unstamped Lease Deed. Insufficiently Stamped Document Cannot Be Acted Upon Under Section 11(6) of Arbitration and Conciliation Act, 1996.

The present appeal arises from a judgment of the Karnataka High Court appointing an arbitrator under Section 11(6) of the Arbitration and Conciliation...

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Supreme Court Upholds Drug Price Fixation Notifications for Frusemide and Theophylline Formulations. Price Fixation Under DPCO 1995 is a Legislative Exercise and Does Not Require Individual Hearing.

The appeals by special leave challenged the decision of the Allahabad High Court which had rejected writ petitions filed by the appellants, M/s T.C. H...

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Supreme Court Allows Filing of Revised Income Tax Returns After Due Date in Amalgamation Case — Holds That NCLT-Approved Scheme Overrides Procedural Timelines Under Income Tax Act. Clause 64(c) of the Scheme Permitting Revised Returns Has Statutory Force and Department Cannot Reject Them as Invalid.

The Supreme Court allowed the appeals filed by M/s Dalmia Power Limited and M/s Dalmia Cement (Bharat) Limited against the judgment of the Division Be...