Supreme Court
Arbitration | Dispute On Interest Rate Doesn't Fall Under Public Policy Ground To Set Aside Award Ordinarily: Supreme Court
The Supreme Court on Tuesday (November 18) upheld the charging of a 24% interest rate in an arbitral award, stating that an interest rate agreed upon in a commercial loan agreement did not violate the fundamental policy of Indian law. “It is well-settled that fundamental policy of Indian law does not refer to violation of any Statue but fundamental principles on which Indian law is founded. Any difference or controversy as to rate of interest clearly falls outside the scope of challenge on...
Income Tax Act | Rejection Of Settlement Application Does Not Affect Assessee's Right To Contest Assessment Order On Merits : Supreme Court
Rejection of an assessee's settlement application by the Income Tax Settlement Commission without offering settlement terms does not bar the assessee's right to challenge the assessment order on merits under the Income Tax Act, observed the Supreme Court. "The stand of the Revenue that the assessee must give up his right to contest the assessment order on merits, if the settlement application is rejected without providing for terms of settlement, is misconceived and must be rejected.", a bench...
Supreme Court Upholds View That Eden Gardens Not A 'Public Place' For Levy Of Advertisement Tax
The Supreme Court today dismissed a challenge to the Calcutta High Court order which held that Eden Gardens stadium was not a "public place" for the purpose of levying advertisement tax under the Kolkata Municipal Corporation Act.A bench of Justices Vikram Nath and Sandeep Mehta heard the matter. Senior Advocate Jaideep Gupta appeared for petitioner-Kolkata Municipal Corporation. Senior Advocate Rajiv Shakdher appeared for respondents.Gupta argued that every bit of the Eden Gardens stadium can...
Bata v. Crocs : Supreme Court Dismisses Pleas Of Footwear Makers Against Maintainability Of Crocs' Passing Off Suits Over Design Infringement
The Supreme Court on Friday dismissed the petition filed by Bata India Ltd and five other footwear manufacturers challenging the Delhi High Court's judgment which held that the suits filed by Crocs Inc.USA alleging passing off over the infringement of the latter's footwear designs registered under the Designs Act were maintainable.A bench comprising Justice Sanjay Kumar and Justice Alok Aradhe refused to interfere with the Delhi High Court Division Bench's ruling of July 1 that a passing off...
Supreme Court Seeks ED's Response On Ex-Tamil Nadu Minister Senthil Balaji's Plea To Relax Bail Conditions In Money Laundering Case
The Supreme Court today issued notice on an application filed by ex-Tamil Nadu Minister V Senthil Balaji seeking relaxation of his bail conditions in the money laundering case arising out of the cash-for-jobs 'scam'.A bench of Justices Surya Kant and Joymalya Bagchi passed the order, after hearing Senior Advocates Kapil Sibal and Narendra Hooda. Advocate Zoheb Hossain appeared for ED and Senior Advocate Gopal Sankaranarayanan represented complainant-Y Balaji.During the hearing, Sibal...
Supreme Court Seeks ED's Response On Ex-Tamil Nadu Minister Senthil Balaji's Plea To Relax Bail Conditions In Money Laundering Case
The Supreme Court today issued notice on an application filed by ex-Tamil Nadu Minister V Senthil Balaji seeking relaxation of his bail conditions in the money laundering case arising out of the cash-for-jobs 'scam'.A bench of Justices Surya Kant and Joymalya Bagchi passed the order, after hearing Senior Advocates Kapil Sibal and Narendra Hooda. Advocate Zoheb Hossain appeared for ED and Senior Advocate Gopal Sankaranarayanan represented complainant-Y Balaji.During the hearing, Sibal...
Can Telecom Spectrum License Be Subjected To Insolvency Proceedings? Supreme Court Reserves Judgment
The Supreme Court on Friday reserved judgment in a batch of appeals challenging the National Company Law Appellate Tribunal's decision in the insolvency proceedings of Aircel and Reliance Communications holding that spectrum can be subjected to insolvency/liquidation proceedings being an intangible asset of the Corporate Debtor.The NCLAT further held that the right to use the spectrum can only be transferred in the CIRP only after clearing the spectrum-related dues to the Government.A...
Externally Procured Parts Supplied To Customer For Assembly, But Not Used By Manufacturer, Aren't Liable To Excise Duty : Supreme Court
The Supreme Court on Monday (November 10) dismissed the Revenue Department's excise duty demand against a company that had manufactured and erected a large boiler at a customer's site, holding that the full contract value could not be subjected to central excise duty. The Court clarified that parts bought out externally and supplied to the customer for assembly, but not actually used by the manufacturer, would not attract excise duty. “we arrive at the finding that the final product that...
Transfer Of Title In Immovable Property Doesn't Attract Service Tax : Supreme Court
The Supreme Court has clarified that an activity which merely involves the transfer of title in immovable property by way of sale cannot be treated as a “service” under the Finance Act, 1994. Consequently, such transactions lie outside the ambit of service tax.A bench comprising Justices JB Pardiwala and Sandeep Mehta delivered the verdict while dismissing an appeal filed by the Commissioner of Service Tax, New Delhi against M/s Elegant Developers, a partnership firm based in Allahabad. The...
Supreme Court Issues Notice On Patanjali Foods' Rs 2.97 Crore Excise Duty Refund Appeal
The Supreme Court has recently issued notice in an appeal filed by Patanjali Foods Limited (formerly Ruchi Soya Industries Ltd.) seeking a refund of Rs 2.97 crore charged by the tax department in connection with an excise duty dispute. A Division Bench of Justice Pamidighantam Sri Narasimha and Justice Atul S Chandurkar issued notice on both the main appeal and the application seeking condonation of delay. The appeal challenges the Karnataka High Court's judgment dated September 30, 2024, and...
Supreme Court Dismisses Rs 244 Crore Service Tax Plea Against Bharti Airtel Over Employee Scheme
The Supreme Court has recently dismissed a nearly Rs 244 crore service tax appeal filed by the Commissioner of Central Goods and Service Tax, Gurugram, against telecom giant Bharti Airtel Ltd. The dispute concerned the company's Airtel Employees Services Scheme (AESS), which offered free or discounted telecom services to its employees.The appeal challenged a January 27, 2025 order of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chandigarh, which had set aside the entire tax...
'Arbitrator Interpreted Contract Contrary To Railway Policies' : Supreme Court Sets Aside Award Against IRCTC
The Supreme Court on Friday (November 7) set aside the multi-crore arbitral award passed against the Indian Railways Catering and Tourism Corporation Limited (“IRCTC”), holding that the arbitrator had impermissibly "rewritten the contract" between the parties. “Rewriting a contract for the parties would be a breach of the fundamental principles of justice, entitling a Court to interfere as it would shock its conscience and would fall within the exceptional category.”, the Court observed....