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Supreme Court Upholds Licensee in Excise License Cancellation Case Due to Inapplicability of Amended Rules. Liability Limited to Actual Loss with Credit for Departmental Management Fees Under Old Rule 13 of Abkari Shops Departmental Management Rules, 1972, as Contract Predated Amendment.

The dispute arose from the cancellation of a country liquor license by the State of Kerala. The respondent licensee had successfully bid for arrack sh...

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Supreme Court Dismisses Assessee's Appeal in Income Tax Deduction Case Under Section 43B Explanation 3C. Interest Converted into Debentures Not Deemed Actually Paid as Per Retrospective Amendment, Disallowing Deduction Under Income Tax Act, 1961.

The dispute arose from an appeal by M.M. Aqua Technologies Ltd. against the Commissioner of Income Tax, Delhi-III, concerning the interpretation of Se...

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Supreme Court Dismisses Appeal in Insolvency Case Due to Lack of Financial Creditor Status. Interest-Free Term Loan Does Not Qualify as Financial Debt Under Section 5(8) of the Insolvency and Bankruptcy Code, 2016 as It Lacks Consideration for Time Value of Money.

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the dismissal by the National Company Law Appellate Tribun...