Supreme Court clarifies valuation of locked-in shares under Gift Tax Act: Deputy Commissioner of Gift Tax vs. BPL Limited (2022) LEGAL ISSUE: How to value shares with a lock-in period for gift tax purposes. CASE TYPE: Gift Tax Case Name: Deputy Commissioner of Gift Tax vs. M/s BPL Limited [Judgment Date]: 13 October 2022 Date […]
Supreme Court Allows Withdrawal of CIRP Application Before CoC Formation LEGAL ISSUE: Whether an application for Corporate Insolvency Resolution Process (CIRP) can be withdrawn before the constitution of the Committee of Creditors (CoC). CASE TYPE: Insolvency Law Case Name: Ashok G. Rajani vs. Beacon Trusteeship Ltd. & Ors. Judgment Date: 22 September 2022 Introduction Date
Supreme Court Upholds Adoption: Chandrabhan’s Inheritance Claim | Civil Law Date of the Judgment: 22 September 2022 Citation: [Not Available in Source] Judges: Indira Banerjee, J. and J.K. Maheshwari, J. Can a High Court overturn a well-reasoned judgment of a lower appellate court based on a reassessment of facts? The Supreme Court addressed this critical
Supreme Court Upholds Port Trust’s Right to Levy Anchorage Charges Post Vessel Sale: NKD Maritime vs. Mumbai Port Trust (2022) LEGAL ISSUE: Whether a purchaser of a vessel at auction is liable for anchorage charges based on the vessel’s prior docking history or only from the date of purchase. CASE TYPE: Admiralty Law Case Name:
Supreme Court settles pension calculation for employees switching government jobs: State of Rajasthan vs. O.P. Gupta (2022) INSC 772 (19 September 2022) LEGAL ISSUE: Whether prior service in a government entity should be counted for pension benefits when an employee resigns to join another government job. CASE TYPE: Service Law – Pension Benefits. Case Name:
Supreme Court clarifies Limitation for IBC Applications: Tech Sharp Engineers vs. Sanghvi Movers (2022) LEGAL ISSUE: The key legal issue is determining the limitation period for filing an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) and whether the pendency of winding-up proceedings before a High Court can extend this limitation. CASE
Supreme Court quashes charges against Executive Engineer in Jharkhand corruption case: Pushpendra Kumar Sinha vs. State of Jharkhand (2022) INSC 717 (24 August 2022) Date of the Judgment: 24 August 2022 Citation: (2022) INSC 717 Judges: N.V. Ramana, CJI, J.K. Maheshwari, J., Hima Kohli, J. Can an individual be held culpable for actions taken in
Supreme Court Clarifies Acknowledgment of Debt in Balance Sheets under IBC: Asset Reconstruction Company vs. Tulip Star Hotels (2022) LEGAL ISSUE: Whether a balance sheet of a company can be considered an acknowledgment of debt for the purpose of extending the limitation period under the Insolvency and Bankruptcy Code (IBC). CASE TYPE: Insolvency Law Case
Supreme Court Upholds Reservation for ‘Ganiga’ Caste: M.V. Chandrakanth vs. Sangappa & Ors. (2022) LEGAL ISSUE: Whether individuals belonging to the ‘Lingayat-Ganiga’ sub-caste are entitled to reservation benefits under Category II-A as ‘Ganiga’ caste. CASE TYPE: Service Law/Reservation. Case Name: M.V. Chandrakanth vs. Sangappa & Ors. Judgment Date: 29 July 2022 Introduction Date of the
Supreme Court on TDS for Foreign Companies: National Petroleum Construction Company vs. Deputy Commissioner of Income Tax (2022) LEGAL ISSUE: Whether a foreign company is liable to pay tax on income from work done outside India, and the scope of tax deduction at source (TDS) for such companies. CASE TYPE: Income Tax Law Case Name:
Supreme Court Transfers Matrimonial Case for Wife’s Convenience: N.C.V. Aishwarya vs. A.S. Saravana Karthik Sha (2022) LEGAL ISSUE: Transfer of matrimonial proceedings based on convenience and economic dependence. CASE TYPE: Matrimonial Law Case Name: N.C.V. Aishwarya vs. A.S. Saravana Karthik Sha [Judgment Date]: July 18, 2022 Introduction Date of the Judgment: July 18, 2022 Citation:
Supreme Court clarifies discretionary powers of NCLT under Section 7(5)(a) of IBC: Vidarbha Industries vs. Axis Bank (2022) LEGAL ISSUE: Whether the National Company Law Tribunal (NCLT) is obligated to admit an application for Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code (IBC) if a debt and default exist,
