Arbitration Monthly Digest: May 2025

Supreme Court When Can Court Remand Arbitral Award To Tribunal Under S.34/37 Arbitration Act ? Supreme Court Explains Case Details : GAYATRI BALASAMY Versus M/S ISG NOVASOFT TECHNOLOGIES LIMITED| SLP(C) No. 15336-15337/2021 Citation : 2025 LiveLaw (SC) 508 The Supreme Court Constitution Bench recently held that the powers of Courts to remand arbitral awards back to the Tribunal under S. 34(4) of the Arbitration and Conciliation Act 1996 cannot be seen as a straight-jacket...

Tax Weekly Round-Up: April 21 - April 27, 2025

HIGH COURTSBombay HCAmalgamated Company Can Adjust Written Down Assets Of Constituent Companies & Claim Depreciation Without Central Govt Approval: Bombay HCCase Title: Technova Imaging Systems Limited v. Deputy Commissioner of Income TaxCase Number: INCOME TAX APPEAL NO. 405 OF 2003The Bombay High Court stated that amalgamated company can adjust written down of assets of amalgamating companies and claim depreciation without central government's approval. The Division Bench of Chief Justice...

IBC Weekly Round Up [21st April-28th April 2025]

Nominal Index: Electrosteel Steel Limited (Now M/S ESL Steel Limited) vs Ispat Carrier Private Limited, 2025 LiveLaw (SC) 491 Anup Kumar Singh Vs Union of India & others., WPA 4585 of 2023 Arrhum Tradelink Pvt. Ltd. v. Manoj Khattar (Liquidator), Company Appeal (AT) (Insolvency) No. 1944 of 2024 Maneesh Ramakant Sapte Vs Export Import Bank of India & Ors, Company Appeal (AT) (Insolvency) No.1954 of 2024 Sangeeta Jatinder Mehta & Anr. V. Kailash Shah RP of...

Arbitration Weekly Digest [7th April-14th April 2025]

High Courts Bombay High Court No Bar On Arbitrator To Allow Withdrawal Of Claims Provided Legitimate Interests Of Other Party Are Not Prejudiced: Bombay High Court Case Title: Central Depositories Services (India) Limited. Vs. Ketan Lalit Shah and Ors. Citation: 2025 LiveLaw (Bom) 144 The Bombay High Court bench of Justices Revati Mohite Dere and Dr. Neela Gokhale has held that the arbitrator can allow the parties to withdraw their claims to initiate fresh arbitration...

Tax Weekly Round-Up: April 14 - April 20, 2025

SUPREME COURTDealers Cannot Claim Input Tax Credit For Purchases Linked To Exempt Sales Under UPVAT Act : Supreme CourtCase Title: NEHA ENTERPRISES VERSUS COMMISSIONER, COMMERCIAL TAX, LUCKNOW, UTTAR PRADESHCase no.: CIVIL APPEAL NO. 6553 OF 2016Emphasizing that tax statutes must be strictly construed with statutory language taking precedence over policy intent, the Supreme Court, in a case concerning the Uttar Pradesh Value Added Tax Act, 2008 (“VAT Act”), held that a dealer is not entitled to...

IBC Weekly Round-Up [14th April-20th April 2025]

Nominal Index: Sandeep Kumar Bhatt vs. Insolvency & Bankruptcy Board of India & Ors, LPA 1054/2024, CM APPL. 61894/2024 & CM APPL.1284/2025 Tirupati Drilling & Mining Services Private Limited Versus Sadbhav Engineering Limited, Company Appeal (AT) (Insolvency) No. 95 of 2025 & I.A. No. 395 of 2025 Deccan Advanced Sciences Private Limited V Escientia Biopharma Private Limited And Ors., Company Appeal (AT) (CH) No.43/2025 (IA Nos.535, 536, 537 &...

IBC Quarterly Digest: January To March, 2025

Nominal Index: Shri Krishan V. H.S Oberoi Buildtech Private Ltd.,Company Appeal (AT) (Insolvency) No. 128 of 2025 Mr. Shailendra Singh, Resolution Professional of Foxdom Technologies Pvt Ltd vs. Directorate Of Enforcement & Anr., ΙΑ NO. 4689 OF 2023 IN IB-102(ND)/2022 Himanshu Singh, Suspended Director of Kriti Prakashan Private Limited Versus HDFC Bank Limited and Anr., Company Appeal (AT) (Insolvency) No. 336 of 2025 Darwin Platform Infrastructure Limited vs ...

Tax Weekly Round-Up: April 07 - April 13, 2025

HIGH COURTSAllahabad HCNOIDA Authorities Deposited Party's Tax Under Wrong Head: Allahabad HC Directs Compensation To Assessee For Penalty Imposed U/S 73 Of GST ActCase Title: Surender Gupta vs. Appellate Authority State Gst / Additional Commissioner Grade-Ii And 2 OthersCase no.: WRIT TAX No. - 1892 of 2024Recently, the Allahabad High Court has directed the New Okhla Industrial Development Authority (NOIDA) to compensate the assesee Rs. Rs.19,22,778/- which was imposed on the assesee as tax and...

IBC Weekly Round-Up [7th April-13th April 2025]

Nominal Index: Blossom Zest Flat Buyers Welfare Association v. Greater Noida Industrial Development Authority and Ors. State Bank of India v. S R Timber Products Private, CP (IB) No. 27/KB/2024 Horizon Commtrade Limited v. Jasmine Commodities Private Limited, Company Petition (IB) No. 271/KB/2024 M/s Embassy Services Private Limited v. Redwoods Infrastructure Private Limited, CP (IB) No. 65/BB/2024 HDFC Bank Ltd Versus Atul Kumar Kansal & Ors.,Company Appeal...

Indirect Tax Quarterly Digest: January - March, 2025

SUPREME COURTSupreme Court Sets Aside Excise Duty Demand On Oil Marketing Companies For Inter-Supply Of Petroleum ProductsCase Title: Bharat Petroleum Corporation Ltd. versus Commissioner of Central Excise Nashik Commissionerate (and connected matters)Case no.: CIVIL APPEAL NO. 5642 OF 2009In a significant relief for Oil Marketing Companies (OMCs), the Supreme Court ruled (Jan. 20) that prices under the MoU for inter-supply of petroleum products, designed to ensure smooth nationwide...

Direct Tax Quarterly Digest: January - March, 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...

Tax Quarterly Digest: January - March, 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...