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Supreme Court Clarifies Deduction of Broken Period Interest for Banks Treating Securities as Stock-in-TradeDeduction Allowed as Revenue Expenditure for Banks Holding Securities as Stock-in-Trade

The Supreme Court addressed the treatment of broken period interest for tax purposes. The issue centered on whether broken period interest could be de...

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High Court Quashes Reassessment Notice Against Bank for AY 2015-16; Holds Notice Based on "Change of Opinion" Invalid. Failure to demonstrate non-disclosure of material facts renders reassessment notice issued after four years unsustainable.

The High Court quashed a reassessment notice issued to a bank for the Assessment Year 2015-16, holding that the notice was based solely on a change of...

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Supreme Court Affirms Guarantor's Independent Liability Despite Resolution Plan. Guarantor's obligations remain intact; assets of subsidiaries excluded from holding company’s resolution plans, creditor rights upheld

The Supreme Court of India affirmed that the approval of a resolution plan for a corporate guarantor does not absolve the principal borrower of its li...

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Court Considers Bail for Inmate after 7.5 Years of Incarceration. Supreme Court orders re-evaluation of prolonged detention under MPID Act; High Court deliberates on legal arguments and case history for final decision.

The petitioner has been in jail for over seven and a half years for offenses under the Indian Penal Code (IPC) and the Maharashtra Protection of Inter...

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Supreme Court Directs SEBI to Liquidate Sai Group of Companies' Assets to Refund Investors Comprehensive Mandate Issued for Asset Auction and Investor Refund Process

The petitioners, a family of three, have invoked the jurisdiction of the Supreme Court under Article 32 of the Indian Constitution, seeking several di...

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Supreme Court Dissolves Marriage Citing Irretrievable Breakdown. Delhi High Court's interim maintenance order modified; Supreme Court addresses permanent alimony considering financial positions of both parties.

The appeals challenge the Delhi High Court's order dated 01.12.2023, which directed the respondent to pay only 20% of the total arrears of interim mai...

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Headline Court Revises Compensation for Acquired Land in Village Chhalera Bangar. Enhanced Compensation Reflects Fair and Balanced Estimation Based on Land Potential and Market Conditions

The compensation for land acquired in Village Chhalera Bangar for industrial development. The court analyzed various factors such as the characteristi...

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Court Strikes Down Arbitrary Lease Rent Hikes Based on Ready Reckoner Rates. State Government Ordered to Frame New, Fair Policy for Lease Rent Determination Following Landmark Judgment.

The challenge against the State Government's methodology for calculating lease rent for residential lands based on Ready Reckoner rates. The Petitione...

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Judicial Review of State Actions in Contractual Disputes: Evolution and Current Scope. From Traditional Boundaries to Modern Oversight: Ensuring Fairness and Transparency in State Contractual Matters

The evolution of judicial review in India regarding state actions in contractual and tender disputes. Historically, such disputes were seen as private...

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Supreme Court Reviews Remand Authority in Mumbai Slum Redevelopment Dispute. Key Decision on Appellate Powers and Arbitral Award Validity in Complex Multi-Party Case

The Supreme Court is addressing appeals concerning a High Court judgment on a slum redevelopment project in Mumbai. The case involves various parties,...