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Supreme Court Allows Assessee's Appeal in Income Tax Dispute Over Non-Compete Fee Taxability. Amount Received Under Deed of Covenant Held as Capital Receipt Not Taxable Under Section 28(ii)(a) of Income Tax Act, 1961, Due to Separate Genuine Transaction and Procedural Error in High Court's Judgment.

The appeal concerned the assessment year 1995-96 involving Shri Shiv Raj Gupta, Chairman and Managing Director of Central Distillery and Breweries Ltd...

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Supreme Court Dismisses Contempt Petitions Against Food Corporation of India for Non-Compliance of Regularisation Orders — No Willful Disobedience Found as Corporation Took Steps Towards Compliance

The Supreme Court dismissed a batch of contempt petitions filed by workmen unions against the Food Corporation of India (FCI) for alleged non-complian...

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Supreme Court Dismisses Contempt Petition for Alleged Wilful Disobedience of Order to Vacate Premises — Failure to File Undertaking and Pay Dues Not Contempt as Substantive Compliance Achieved.

The contempt petition was filed by Hukum Chand Deswal (petitioner) against Satish Raj Deswal (respondent) alleging wilful disobedience of the Supreme ...

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Supreme Court Convicts Contemnors for Scandalous Allegations Against Judges in Suo Motu Contempt Proceedings. The Court upheld its inherent power under Article 129 to punish for contempt, rejecting procedural objections under the Contempt of Courts Act, 1971.

The Supreme Court of India initiated suo motu contempt proceedings against Vijay Kurle, Rashid Khan Pathan, and Nilesh Ojha for sending letters contai...

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Supreme Court Allows FCI Appeals Against High Court Order on Allocation of Paddy to Lessees of Blacklisted Rice Mills. Unregistered Lease Deeds Cannot Confer Rights to Allocation Unless Liabilities of Defaulting Millers Are Cleared.

The Supreme Court allowed appeals by the Food Corporation of India (FCI) against a Punjab and Haryana High Court order that had directed allocation of...

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Supreme Court Upholds Penalty on Managing Director in FEMA Violation Case — Failure to Complete Import Formalities Constitutes Continuing Offence. Liability under Section 10(6) of FEMA, 1999 attaches to person responsible for conduct of business regardless of change in management.

The appeal arose from complaint proceedings initiated by the Enforcement Directorate under Section 16(3) of the Foreign Exchange Management Act, 1999 ...