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Supreme Court Invalidates Electoral Bond Scheme
Supreme Court Declares Electoral Bond Scheme Unconstitutional On February 15, the Supreme Court delivered its verdict on a series of petitions challenging the validity of the Electoral Bond scheme, which enables anonymous funding to political parties. Chief Justice D Y Chandrachud led a five-judge Constitution
Calcutta High Court Rules on Audit Report in PBL Transport Case
In a notable legal development, the Hon’ble Calcutta High Court delivered a significant judgment in the case of PBL Transport Corporation (P) (Ltd.) v. Assistant Commissioner (ST), Writ Petition No. 33477 of 2023 dated January 04, 2024. The court’s decision shed light on the
“Recent Income Tax Amendments and MSMEs: Implications”
Introduction: The Micro, Small, and Medium Enterprise (MSME) sector significantly contribute to India’s economic landscape. This article explores recent amendments to the Income Tax Act (ITA) related to MSMEs, focusing on key provisions and their implications. As per the Micro, Small and Medium Enterprise Act,
DGFT Notice Expands Scrap Import Ports and PSIC Exemption
Introduction: The Directorate General of Foreign Trade (DGFT) issued Public Notice No. 43/2023 on February 14, 2024, introducing significant amendments to the Handbook of Procedures, 2023. These changes aim to facilitate the import of metallic waste and scrap by expanding the designated sea ports and
Provisions of electoral bonds are unconstitutional- SC
In a recent development the honourable SC has held that electoral bonds are unconstitutional. The court also made some observations regarding section 182 of Companies Act. This section was amended to go away with the liability to disclose the name of donee. The corporates were
CA Shafaly GirdharwalSupreme Court Directives on Electoral Bonds: Key Points and Implications
The Supreme Court’s directives on Electoral Bonds: A. State Bank of India (SBI) to halt issuance of electoral bonds. B. SBI to furnish details of electoral bonds purchased since April 12, 2019, to the Election Commission of India (ECI), including purchase date, purchaser’s name, and
Business Expansion StrategyContent Marketing Trends You Need to Know in 2024
In 2024, an aspiring business should look to identify the ongoing market trends and capitalize on them. This is the best way to keep your business growing and achieve your aspirations. Currently, the most popular trend in content marketing is the use of AI tools
“Supreme Court Affirms NCLT’s Recall Power: Key Analysis”
The Supreme Court, on February 12, noted that the Adjudicating Authority (AA), which is the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016 (IBC), has the power to recall its order approving a resolution plan if the plan is not submitted
“Contracts by Conduct: Insights from Supreme Court Decisions”
Introduction: In the realm of contract law, the traditional understanding has often been that agreements are formalized through written documents, signed and sealed by the involved parties. However, a notable principle has emerged from various Supreme Court rulings, shedding light on an alternative avenue through
“Finance Ministry Dismisses Karnataka’s Claims of Tax Distribution Discrimination”
The Finance Ministry has issued a rebuttal to the Karnataka government’s allegations of discrimination in the distribution of central taxes, dismissing them as incorrect and misleading. This response comes shortly after the state’s Congress party staged a protest in the national capital. In a statement,
NCLT Approval Impact on Service Tax Refund Appeal: CESTAT Chandigarh Ruling
In a significant decision, the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) Chandigarh addressed the case of Ballarpur Industries Ltd. vs. CCE & ST, Panchkula. The tribunal ruled that once a resolution plan has been approved by the National Company Law Tribunal (NCLT), any
ITC can be claimed on invoices. HC dropped the notice
Details of the case In the case of M/s Surya Business Private limited Vs the State of Assam, it was held that tax paid by the TP but was not appearing in 2A shall not be disallowed. Citations Suncraft Energy Private Limited and another vs.
CA Shafaly Girdharwal