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Supreme Court Allows Transfer of Writ Petitions Challenging ICAI Guidelines on Tax Audit Assignments to Avoid Multiplicity of Proceedings. The Court Held That the Issue Involves a Question of Law of General Public Importance Under Article 139-A(1) of the Constitution.

The Institute of Chartered Accountants of India (ICAI) filed transfer petitions under Article 139-A(1) of the Constitution read with Order XL Rule 1 o...

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Supreme Court Allows Appeal Against High Court's Interim Stay on Liquor Shop License, Dismisses Writ Petition as Frivolous with Costs. Non-Participant in Resettlement Process Lacks Locus Standi to Challenge Allotment on Ground of Loss of Revenue When Recovery Proceedings Ensure No Actual Loss.

The case pertains to the allotment of a foreign liquor shop license at Pithoragarh, Uttarakhand. Initially, the license was allotted to Sh. Balkar Sin...

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Supreme Court Allows NCDC's Appeal in Income Tax Dispute Over Deduction of Grants as Revenue Expenditure. Grants disbursed by a statutory corporation as part of its business are deductible under Section 37 of the Income Tax Act, 1961, regardless of the capital nature of the source funds.

The National Co-operative Development Corporation (NCDC), established under the National Co-operative Development Corporation Act, 1962, is a statutor...