Arbitration Weekly Round-Up [17th February-23rd February 2025]

High Courts Andra Pradesh High Court: Limitation For Appointment Of Arbitrator Commences From Date Of Failure To Comply With Requirements In Notice Invoking Arbitration: AP High Court Case Title: Alliance Enterprises v. Andhra Pradesh State Fiber Net Limited (APSFL) Case Number: Arbitration Application No. 48 of 2023 The Andhra Pradesh High Court bench of Chief Justice Dhiraj Singh Thakur has held that the limitation period for filing an application seeking appointment of...

IBC Weekly Round-Up [17th February-23rd February 2025]

Nominal Index: BANK OF BARODA v. FAROOQ ALI KHAN & ORS., CIVIL APPEAL NO. 2759/2025, 2025 LiveLaw (SC) 234 Jai Prakash Keswani vs. MB Malls Pvt. Ltd & Ors, Company Appeal (AT) (Insolvency) No. 92 & 93 of 2025 & I.A. No. 294, 295, 378, 379 of 2025 Kumar Jivanlal Patel (Makadia) Vs. Patel Oils & Chemicals Pvt. Ltd. and Ors., Cont.A. - 6/2017 Anuj Bajpai and Anr. Vs. Inderdeep Construction Company & Anr., Comp. App. (AT) (Ins) No.1698 of 2024 &...

Tax Weekly Round-Up: February 17 - February 23, 2025

SUPREME COURTCharitable Trust's Registration For Income Tax Exemption To Be Decided Based On Proposed Activities & Not Actual Activities : Supreme CourtCase Title: COMMISSIONER OF INCOME TAX EXEMPTIONS VERSUS M/S INTERNATIONAL HEALTH CARE EDUCATION AND RESEARCH INSTITUTECase no.: SPECIAL LEAVE PETITION (CIVIL) Diary No. 19528/2018The Supreme Court reiterated that when a charitable trust registers under Section 12-AA of the Income Tax Act (“Act”) for income tax exemptions (under Sections 10...

Arbitration Weekly Round-Up [10th February-16th February]

Supreme Court 'Oral Undertaking Falls Within Scope Of Arbitration Clause' : Supreme Court Upholds Award Against Husband For Operation In Wife's Demat Account Case Title: AC CHOKSHI SHARE BROKER PRIVATE LIMITED VERSUS JATIN PRATAP DESAI & ANR. Citation : 2025 LiveLaw (SC) 178 The Supreme Court today (February 10) held that an oral contract undertaking joint and several liability falls within the scope of an arbitration clause. Holding so , the Court affirmed an arbitral...

IBC Weekly Round-Up [10th February -16th February 2025]

Nominal Index: Global Indian School Education Services Pvt. Ltd. Versus Mr. Abhay Narayan Manudhane, Comp. App. (AT) (Ins) No. 1617 of 2023 & I.A. No. 5841, 5842, 5843 of 2023 Parmesh Construction Company Ltd. Versus Pramod Kumar Sharma,Company Appeal (AT) (Insolvency) No. 149 of 2025 Bank of Baroda Versus Shree Rajashthan Syntex Ltd., Company Appeal (AT) (Insolvency) No. 888 of 2023, Comp. App. (AT) ('Insolvency') No. 1492 of 2023 & I.A. No. 5310 of 2023 and Company...

Tax Weekly Round-Up: February 10 - February 16, 2025

NEW INCOME TAX BILLNew Income Tax Bill 2025: Concept Of "Tax Year" To Be Introduced Instead Of "Assessment Year", "Financial Year" To Remain UnchangedThe new Income Tax bill is set to introduce the concept of 'Tax Year'. This will replace the current concept of assessment year (or previous year) from the Income Tax Act.Persons engaged in digital content creation, including social media influencers and online platforms, shall be required to register for Goods and Services Tax (GST) if their...

IBC Weekly Round-Up [2nd February-9th February 2025]

Nominal Index: Damodar Valley Corporation vs. Mackeil Ispat & Forging Ltd. & Anr., Company Appeal (AT) (Insolvency) No. 1663 of 2023 M/s Power Mech Projects Ltd. Versus Essar Power (Jharkhand) Ltd. and Anr., Company Appeal (AT) (Insolvency) No.106 of 2025 Ankur Kumar Versus Sustainable Agro-Commercial Financial Ltd., Company Appeal (AT) (Insolvency) No. 484 of 2023 Bhushan Power & Steel Limited vs. Union of India & Anr., 2025 LiveLaw (Del) 148 Riju...

Tax Weekly Round-Up: February 03 - February 09, 2025

SUPREME COURTIncome Tax Act | Offence Committed Before Show-Cause Notice Compoundable As Covered By 'First Offence' In Compounding Guidelines: Supreme CourtCase title: VINUBHAI MOHANLAL DOBARIA Vs CHIEF COMMISSIONER OF INCOME TAXCase no.: SPECIAL LEAVE PETITION (C) NO. 20519 OF 2024The Supreme Court on January 7 set aside the Gujarat High Court's judgment dated March 21, 2017, through which the rejection to the compounding application of the Appellant for the assessment year 2013-2014, for...

Tax Monthly Digest: January 2025

SUPREME COURTMotor Accident Claims - Tax Returns Can Be Accepted To Determine Income Only If They Are Appropriately Produced : Supreme CourtCase name: New India Assurance Co. Ltd. V. Sonigra Juhi Uttamchand.Case no.: SLP (C) No. 30491 of 2018The Supreme Court, recently (on January 02), while deciding a motor accident compensation claim case, observed that monthly income could be fixed after taking into account the tax returns. However, the details of tax payment must be properly brought into...

IBC Monthly Digest: January 2025

NOMINAL INDEX: Adroit Pharmaceuticals Pvt. Ltd. Through Its Director Sanjay Kukreja Vs. Amit Poddar Resolution Professional & Ors., Company Appeal (AT) (Insolvency) No. 1274 of 2024 Super Floorings Pvt. Ltd. Vs. Napin Impex Ltd., Company Appeal (AT) (Insolvency) No. 1928 of 2024 & I.A. No.7115 of 2024 Mr. Tajinder Singh Bhathal vs. MRF Limited & Ors., Company Appeal (AT) (CH) No. 94/2023 (IA No.1191/2023) MOHAMMED ENTERPRISES (TANZANIA) LTD. VERSUS FAROOQ ALI KHAN...

Arbitration Monthly Digest: January 2025

Supreme Court High Court's Interference Under Article 226/227 Permissible Only If Arbitral Tribunal's Order Is Patently Perverse : Supreme Court Case Title: SEROSOFT SOLUTIONS PVT. LTD. VERSUS DEXTER CAPITAL ADVISORS PVT. LTD. Citation : 2025 LiveLaw (SC) 14 The Supreme Court today criticized the High Court's intervention under its Writ Jurisdiction in the Arbitral Proceedings, where it had directed the Arbitral Tribunal to grant additional time for one party to cross-examine...

Direct Tax Annual Digest 2024: Part II

Cash-In-Hand Out Of Business Profits Declared In Return U/s 44AD, Can't Be Plainly Added As Unexplained Money: Delhi ITATWhile allowing the appeal against the addition on account of unexplained money, the New Delhi ITAT held that if the assessee's contention is that it had turnover exceeding the limit u/s 44AD of the Income Tax Act, then CIT(A) ought to have acted in accordance with law. The Bench comprising of Kul Bharat (Judicial Member) observed that, “If the assessee's contention is that it...