Supreme Court Upholds Quashing Of Income Tax Reassessment Against BPCL Over ₹37.10 Crore Dividend Income

The Supreme Court on Monday refused to interfere with the Bombay High Court's order quashing income tax reassessment proceedings initiated against Bharat Petroleum Corporation Ltd. (BPCL) for AY 2013-14 in relation to Rs 37.10 crore dividend income received through a trust structure.A bench of Justices Pamidighantam Sri Narasimha and Alok Aradhe dismissed the Special Leave Petition, after being informed by the counsels that a previous matter on the same subject was dismissed by the supreme...

LiveLawBiz Direct Tax Weekly Round-Up: March 09 - March 15, 2026

SUPREME COURTSupreme Court Refuses To Entertain Plea Challenging Search Powers Over Digital Devices Under Income Tax Act, 1961, And 2025 ActCase Title : Vishwaprasad Alva vs Union of India Case Number : WP(C) No. 114 of 2026 CITATION : 2026 LLBiz SC 102The Supreme Court on Monday declined to entertain a petition challenging the constitutional validity of the search and seizure powers over digital devices under Section 132 of the Income Tax Act, 1961, and its corresponding provision, Section...

LiveLawBiz IPR Weekly Digest: March 08 - March 14, 2026

SUPREME COURTSupreme Court Reserves Verdict In Filmmaker Sujoy Ghosh's Plea To Quash Copyright Case Over Film Kahaani 2Case Title: Sujoy Ghosh vs State of Jharkhand & Ors Case Number: SLP (Crl) 9452/2025The Supreme Court on Tuesday reserved its judgment in a plea filed by filmmaker Sujoy Ghosh seeking the quashing of criminal proceedings alleging copyright infringement in connection with the film Kahaani 2, which was declined by the Jharkhand High Court. A bench of Justices Pamidighantam Sri...

Supreme Court Allows Avadhut Sathe Trading Academy To Withdraw ₹2.25 Crore Monthly For Operational Expenses In SEBI Case

The top court, however, refused to interfere with the Securities Appellate Tribunal’s order dated January 22, 2026, directing the academy to deposit ₹100 crore in the proceedings initiated by SEBI over alleged unregistered investment advisory activities.

LiveLawBiz Arbitration Weekly Digest: March 9 - March 14, 2026

Nominal Index R.V. Anderson Associates Ltd. v. Municipal Corporation of Greater Mumbai, Supreme Court, 2026 LLBiz SC 106Central Warehousing Corporation v. Indo Arya Logistics (A Unit of Indo Arya Central Transport Ltd.), 2026 LLBiz HC (DEL) 252Synergy Consultants v. M/s T.D. Williamson India Pvt. Ltd., 2026 LLBiz HC (DEL) 244Man Industries (India) Limited v. GAIL (India) Limited, 2026 LLBiz HC (DEL) 258SARR Freights Corporation & Anr. v. Argo Coral Maritime Ltd., 2026 LLBiz HC (DEL) 259Cosco...

LiveLawBiz RERA Cases Weekly Digest: 9th March - 14th March, 2026

NOMINAL INDEXKabra and Associates & Ors v Rekha Rajkumar Hemdev & Ors, 2026 LLBiz SC 109M/s Sobha Limited v The Deputy Registrar of Cooperative Societies & Ors, 2026 LLBiz HC (KAR) 30M/s Omaxe Heritage Pvt Ltd v Real Estate Regulatory Authority New Delhi, 2026 LLBiz REAT (DL) 14Ravi Kumar Anchoori v M/s Candeur Developers & Builders, 2026 LLBiz RERA (TS) 50Tushar Dnyandeo Jagdale v Piramal Estate Private Limited, 2026 LLBiz RERA (MH) 44Elkan Saphania Moses v Piramal Estates Pvt...

LiveLawBiz IBC Weekly Digest: March 9 To March 14

HIGH COURT IBC Moratorium Does Not Bar MPID Attachment Proceedings In NSEL Scam: Bombay High CourtCase Title : Dulisons Cereals vs State of Maharashtra, National Spot Exchange Ltd Case Number : CRIMINAL APPEAL NO.5 OF 2024 CITATION : 2026 LLBiz HC (BOM) 137The Bombay High Court recently held that the interim moratorium under the Insolvency and Bankruptcy Code cannot bar attachment proceedings initiated under the Maharashtra Protection of Interest of Depositors...

LiveLawBiz: Corporate Legal News Daily Round-Up: March 14, 2026

IBC IBC Moratorium Does Not Bar MPID Attachment Proceedings In NSEL Scam: Bombay High CourtNCLAT Declines To Recall Ruling Holding Cosmic CRF Ineligible As Resolution Applicant In Amzen CIRPIPR Bombay High Court Grants Interim Injunction To Asian Paints Against Use Of “ASIA TUFF” For Paint And Wall PuttyDelhi Court Grants Ad-Interim Injunction, Summons Telegram In Education Institute's IP Infringement CaseBombay High Court Temporarily Restrains Legends League Cricket Operator From Using PPL...

Supreme Court Directs Court-Appointed Administrator To Seek Fresh Fee Quotes For Forensic Audit In Venus Petrochemicals Case

The Supreme Court recently directed the court-appointed administrator of Venus Petrochemicals (Bombay) Private Limited to obtain quotations from local forensic firms and appoint a suitable forensic auditor after the appellant company objected to the professional fee quoted by the auditor earlier appointed by the court. A bench of Justice Sanjay Kumar and Justice K. Vinod Chandran passed the order while disposing of an interlocutory application in a pending civil appeal. The grievance raised in...

'Purported Award' Can Be Challenged Under Section 34 Of Arbitration Act: Calcutta High Court

The Calcutta High Court on Friday held that the scope of challenge under Section 34 of the Arbitration and Conciliation Act, 1996 extends beyond existing awards to include a “purported award” where the very existence of the award is in dispute. A Single Bench of Justice Sabyasachi Bhattacharyya set aside two alleged arbitral awards relied upon by Roadwings International Private Limited in its dispute with SREI Equipment Finance Limited, holding that only photocopies of the awards were produced...

LiveLawBiz: Corporate Legal News Daily Round-Up: March 13, 2026

IBC NCLT Mumbai Dismisses CIRP Plea Against Shapoorji Pallonji, Says Claim Inflated With Unilateral InterestNCLAT Sets Aside NCLT Order, Upholds Auction Sale Confirmed Before CIRP, Says Moratorium Not ApplicableNCLAT Upholds Insolvency Against Al-Dua, Rejects Plea That Debt Was Transferred To Another CompanyNCLT Chandigarh Rejects Omkara ARC Plea Over 1267-Day Belated Claim In Vikas WSP CIRPNCLT Bengaluru Admits CIRP Against VOI Jeans Retail India Over ₹1.11 Crore Operational Debt DefaultIPR...

High Courts Can Examine Valuation, Reserve Price In Recovery Proceedings Under Supervisory Jurisdiction: Supreme Court

The Supreme Court on Friday observed that high courts may invoke their supervisory jurisdiction to examine valuation and reserve price fixation in recovery proceedings where credible issues are raised regarding the adequacy of valuation or the fairness of the process. A bench of Justices J.B. Pardiwala and R. Mahadevan made the observation while dismissing an appeal filed by an auction purchaser challenging a Madras High Court judgment dated February 6, 2020, which had remitted the matter to...