Digest Of Supreme Court Cases

Income Tax Act, 1961 — S. 14-A — Disallowance on expenditure incurred for earning tax-free income in cases where assessees do not maintain separate accounts for the investments and other expenditures incurred for earning the tax-free income

The proportionate disallowance of interest is not warranted under S. 14-A for investments made in tax free bonds/securities which yield tax-free dividend and interest to assessee Banks in those situations where, interest-free own funds available with the assessee, exceeded their investments. Held, agree with the view taken by learned ITAT. Para 31 [South Indian Bank […]

Income Tax Act, 1961 — S. 14-A — Disallowance on expenditure incurred for earning tax-free income in cases where assessees do not maintain separate accounts for the investments and other expenditures incurred for earning the tax-free income Read More »

Criminal Procedure Code, 1973-Ss.457 and 451-Seizure of property pending trial

SC had passed interim order pertaining to the mutual funds for a period of six months. However, the pandemic situation delayed hearing of accompanying appeal and consequently the resolution of the case. Thus, interim order was modified to the extent that MF units kept with R1 be released subject to the applicant furnishing requisite bank

Criminal Procedure Code, 1973-Ss.457 and 451-Seizure of property pending trial Read More »

Income Tax Act, 1961— Date for reckoning period of limitation prescribed under S. 263(2)

The word used S. 263 is “made” and not “received”. Hence, if the order under S. 263 was made/passed within the period of two years from the end of financial year in which order sought to be revised was passed, such an order would not be beyond the period of limitation prescribed under S. 263(2).

Income Tax Act, 1961— Date for reckoning period of limitation prescribed under S. 263(2) Read More »

Family and Personal Laws— Hindu Law — Partition/Family Arrangement/Settlement—Revocation /Cancellation /Reunion /Blending /Surrender/Relinquishment/Renunciation

Reunion of family: Principles explained in detail about concept of reunion of joint family, manner in which to be proved, presumption against reunion after partition. The plaintiff’s case throughout was that the family continued to be joint after 7-11-1960 and defendant 1 who alone had filed the written statements and appeared in the witness box having

Family and Personal Laws— Hindu Law — Partition/Family Arrangement/Settlement—Revocation /Cancellation /Reunion /Blending /Surrender/Relinquishment/Renunciation Read More »

Insolvency and Bankruptcy Code, 2016 – Non-entertainability of time-barred debts under S. 238-A read with S. 7. Denial of Condonation of delay when delay is highly excessive i.e. nearly 15 years and debt barred by limitation

Art. 137 of the Limitation Act gets attracted to applications filed under Ss. 7 and 9 IBC. The right to sue accrues when a default occurs, and if that default has occurred over three years prior to the date of filing of an application under S. 7 IBC, the application would be barred under Art.

Insolvency and Bankruptcy Code, 2016 – Non-entertainability of time-barred debts under S. 238-A read with S. 7. Denial of Condonation of delay when delay is highly excessive i.e. nearly 15 years and debt barred by limitation Read More »

Arbitration and Conciliation Act, 1996 — Modification of arbitral award by Court under S. 34 — Jurisdiction of Court

Power of Court under S. 34 to “set aside” award, held, does not include power to modify such an award. Given limited scope of judicial interference with award under S. 34 on extremely limited grounds not dealing with merits of an award, “limited remedy” under S. 34, held, is coterminous with “limited right”, namely, either

Arbitration and Conciliation Act, 1996 — Modification of arbitral award by Court under S. 34 — Jurisdiction of Court Read More »

Courts, Tribunals and Judiciary — Judicial Process and Role of the Bar, Administration and Public Institutions/Officers

In this case, prayer was made for expunction of adverse remarks made against appellant, a senior lawyer, by High Court while deciding four cases in which appellant was representing one of the contesting parties. The Court observed that while it is of fundamental importance in realm of administration of justice to allow Judges to discharge

Courts, Tribunals and Judiciary — Judicial Process and Role of the Bar, Administration and Public Institutions/Officers Read More »

Constitution of India Art. 226 — Unsustainability of Passing of order in casual and/or cryptic manner

In this case, dispute between appellant and R-4 concerning alleged right to way of R-4 decided by Revenue Authorities against appellant., that order was challenged before High Court as appeal was dismissed. While dismissing the writ petition, High Court passed cryptic order without considering essential issues. Without going into questions whether there was any easement

Constitution of India Art. 226 — Unsustainability of Passing of order in casual and/or cryptic manner Read More »

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