Supreme Court
In Tax Matters, Strict Letter Of Law Must Be Followed; No Tax Can Be Imposed By Inference Or Analogy : Supreme Court
The Supreme Court observed that no tax can be imposed by inference or analogy when the taxing statutes do not authorize the imposition of tax. It added that tax authorities cannot bypass statutory limitation periods by administrative sanction. “In construing fiscal statutes and in determining the liability of a subject to tax one must have regard to the strict letter of law. If the revenue satisfies the court that the case falls strictly within the provisions of the law, the subject can be...
Arbitration | Execution Of Award Cannot Be Stalled Merely Due To Pendency Of Section 37 Appeal : Supreme Court
The Supreme Court held that the execution of an arbitral award cannot be stalled merely on the ground that an appeal under Section 37 of the Arbitration and Conciliation Act is pending.A bench of Justices Manoj Misra and Ujjal Bhuyan heard the case where the appellant (award-holder/decree-holder) sought execution of the arbitral award. The respondents (judgment-debtors) argued that since a Section 37 appeal was pending against the dismissal of their Section 34 objections, the execution should be...
Supreme Court Allows Customs Duty Exemption To LG Electronics For Smart Watch Import From Korea
The Supreme Court recently granted relief to LG Electronics India from paying customs duty on imported 'G Watch W7' smartwatches from South Korea, holding that a certificate of origin from a country with which India has a full customs duty exemption agreement is sufficient to claim such exemption. A bench of Justice JB Pardiwala and Justice Sandeep Mehta heard the LG Electronics appeal against the Customs, Excise and Service Tax Appellate Tribunal (“CESTAT”) order, that declined LG's plea for...
NCLT, NCLAT Vacancies Must Be Filled On War Footing; RERA Must Be Adequately Staffed : Supreme Court
The Supreme Court directed the Union Government to fill up the vacancies at the National Company Law Tribunals(NCLT) and the National Company Law Appellate Tribunal(NCLAT) on a "war-footing"."Dedicated IBC benches with additional strength should be constituted. Services of retired judges may be utilized on ad hoc basis until regular appointments are made," the Court observed.The Court noted that though such directions were issued earlier also, no effective step has been taken on the ground.The...
Supreme Court Allows Fresh Disbursal Of Rs 5000 Crores From SEBI-Sahara Fund To Depositors; Extends Time For Payment Release Till Dec 2026
At the request of the Union government, the Supreme Court today permitted fresh disbursal of Rs.5,000 crores out of the funds deposited by the Sahara group with the Securities and Exchange Board of India (SEBI) to repay the dues of the depositors of the Sahara Group of Cooperative Societies.A bench of Justices Surya Kant and Joymalya Bagchi passed the order, after hearing Solicitor General Tushar Mehta. It further extended till December 31, 2026 the time period for disbursal to the investors of...
IBC | Homebuyers Can't Be Denied Flat Possession If Their Claims Were Verified & Admitted By Resolution Professional : Supreme Court
The Supreme Court on Tuesday (Sep.9) observed that once a claim is verified and admitted by the Resolution Professional (RP), it cannot be treated as “belated” to deny substantive relief under a resolution plan. A bench of Justices Sanjay Kumar and Satish Chandra Sharma ruled in favour of the homebuyers, holding that their verified and admitted claims could not be downgraded to 'unverified' merely because of delayed filing, especially when such treatment had wrongly denied them flat possession...
S. 37(1)(a) Arbitration Act | Clause Restricting Interest On Delayed Payments By Itself Won't Bar Pendente Lite Interest : Supreme Court
The Supreme Court on Tuesday (Sep.2) observed that an Arbitral Tribunal can grant pendente lite interest unless expressly or impliedly barred in the contract. It added that a contractual clause barring interest on delayed payments does not prevent an arbitral tribunal from awarding pendente lite interest, i.e., the interest for the period during which the arbitration is pending. “…arbitral tribunal can be denuded of its power to award pendente lite interest only if the agreement/ contract...
Arbitration | Delivery Of Award To Govt Official Not Connected With Case Doesn't Amount To Valid Service On State : Supreme Court
The Supreme Court has clarified that when the government or one of its departments is a party to arbitration, delivery of an arbitral award to an official who is not connected with or aware of the proceedings cannot be treated as valid service for commencing the limitation period to challenge the award. Citing its ruling of Union of India vs. Tecco Trichy Engineers & Contractors (2005), the Court said that the delivery of the copy of the arbitral award should be made to the “party to the...
Customs Act | Electronic Evidence Admissible Without S.138C(4) Certificate If Assessee's S.108 Statement Admits Contents : Supreme Court
The Supreme Court recently held that electronic evidence seized by the Directorate of Revenue Intelligence (“DRI”) can be admissible even without a certificate under Section 138C(4) of the Customs Act, if the assessees has acknowledged these the documents in the devices in their statements under Section 108 of the Customs Act.Section 138C (4) of the Customs Act requires the production of a certificate, similar to the mandate under Section 65B (4) of the Evidence Act for proving electronic...
Vehicles Plying Only Within Enclosed Premises Of Factory/Plant Not Liable To Pay Motor Vehicle Tax : Supreme Court
The Supreme Court on Friday (Aug. 29) ruled that the vehicles operating exclusively within the enclosed premises of a factory or plant are not liable to pay motor vehicle tax, as such areas do not constitute a "public place." “Motor vehicle tax is compensatory in nature. It has a direct nexus with the end use. The rationale for levy of motor vehicle tax is that a person who is using public infrastructure, such as, roads, highways etc. has to pay for such usage. Legislature has consciously used...