Supreme Court Stays Punjab and Haryana HC Order Declaring Section 147A Income Tax Act Unconstitutional

The Supreme Court on Friday stayed the Punjab and Haryana High Court judgment declaring Section 147A of the Income Tax Act, 1961, unconstitutional. A bench comprising Justice JB Pardiwala and Justice K. Vinod Chandran stayed the High Court judgment until the final disposal of the Special Leave Petition filed by the Union Government challenging the ruling. “The impugned order shall remain stayed on the condition that assessment as well as reassessment proceedings shall not proceed...

Delhi High Court Orders Takedown Of Obscene Content In Actor Meenakshi Chaudhary's Personality Rights Suit

The court, however, left claims of commercial exploitation of her personality rights open, saying blanket relief could not be granted without evidence of actual monetisation.

LiveLawBiz: Corporate Legal News Daily Round-Up: September 17, 2026

IBCNCLT Indore Admits Marvel Industries Insolvency Plea Against Flexituff TechnologyDelhi High Court Restores Super Bazar Writ Petition Withdrawn On Former Liquidator's InstructionsMere Commercial Association, Historical Linkage Cannot Make Entity Related Party Under IBC: NCLT ChennaiIndividual Consortium Lender Can Initiate Insolvency Proceedings Against Personal Guarantor: NCLT DelhiCalcutta High Court Quashes Income-Tax Reassessment Against McNally Bharat After IBC Resolution PlanNCLT...

'Abominable': Allahabad High Court Pulls Up SBI For Debiting Wife's FD For Husband's Loan

The Allahabad High Court at Lucknow has pulled up the State Bank of India for debiting ₹19.90 lakh from a woman's fixed deposit towards her deceased husband's loan dues, calling the process “abominable” and “clearly an anathema to banking practice”.A bench of Justice Shekhar B Saraf and Justice Abdhesh Kumar Chaudhary held that SBI had failed to show any legal basis for debiting the account of Neha Mishra, who had no privity of contract with the bank, towards her husband's dues.Mishra's husband,...

LiveLawBiz: Corporate Legal News Daily Round-Up: September 16, 2026

IBCNCLAT E-Filing Glitch Caused One-Day Delay: Supreme Court Sets Aside Order Dismissing IBC Appeal As Time-BarredSubsequent Buyer's Post-CIRP Electricity Dues Dispute Outside Insolvency Jurisdiction: NCLT AhmedabadNCLT Ahmedabad Dismisses Make India Impex's ₹9.10 Crore Insolvency Plea Against Elite GreenNCLT Ahmedabad Admits Immacule Lifesciences' Insolvency Plea Against FTF Pharma Over ₹2.18 Cr. DebtIPRDelhi High Court Restrains Real Estate Websites Using SignatureGlobal Marks And Project...

Assessing Officer Cannot Reopen Income Tax Settlement Through Reassessment: Supreme Court

The Supreme Court on Wednesday ruled that once a taxpayer's case has been finally settled by the Income Tax Settlement Commission, the Assessing Officer cannot reopen matters covered by the settlement through the ordinary reassessment route under Section 148 of the Income Tax Act.The Court said the Revenue can seek to reopen a settlement on the ground of fraud or misrepresentation by moving the Settlement Commission under Section 245D(6). The Assessing Officer, however, cannot independently...

NCLAT E-Filing Glitch Caused One-Day Delay: Supreme Court Sets Aside Order Dismissing IBC Appeal As Time-Barred

The Supreme court has held that a litigant cannot be made to suffer when a court or tribunal's e-filing system prevents papers from being filed despite a bona fide attempt within the prescribed limitation period. “When the system of the court/tribunal fails to receive the papers, which are sought to be presented bona fide and within the prescribed time, the litigant cannot be rendered remediless on the specious ground that the court/tribunal has no power to condone the delay,” a bench of...

RBI Recovery Guidelines 'Exist Only On Paper': Supreme Court Directs Effective Compliance By Banks, NBFCs

The Supreme court on Wednesday directed the Reserve Bank of India (RBI) to take effective steps to ensure that NBFCs and Scheduled Commercial Banks actually comply with its recovery guidelines, observing that the Guidelines, Master Circulars and Clarifications issued over the years have “existed only on paper”. The direction came while allowing an appeal by Hari Dutta Sharma, whose commercial vehicle was repossessed by Cholamandalam Investment and Finance Company Limited after loan defaults. ...

PIL In Supreme Court Challenges Charges On UPI Merchant Payments Above ₹2,000

A Public Interest Litigation has been filed before the Supreme Court challenging the 0.4% charge on specified UPI merchant payments above ₹2,000.The petition, filed by Advocate Anjan Datta, challenges the September 14, 2026, Gazette notification issued under Section 10A of the Payment and Settlement Systems Act, 2007, as amended by the Taxation and Other Laws (Amendment) Act, 2026.It also challenges the Merchant Discount Rate (MDR) framework announced by the Ministry of Finance on September 15,...

Bombay Shaving Co. Agrees To Take Down Allegedly Disparaging Ad After Delhi HC Calls It 'Mockery Of Court'

Bombay Shaving Company on Wednesday agreed to take down an advertisement featuring a mock courtroom setting and a judge character after the Delhi High Court questioned the company over what it described as “outright mockery” of the court. Justice Jyoti Singh said, “I don't know what your client's definition of mockery is if this is not mocking the court,” after counsel for Bombay Shaving Company sought to defend the courtroom sequence. The court added, “Please don't even stand to defend...

Centre Challenges Punjab & Haryana HC Verdict Striking Down S.147A Income Tax

The Union Government has approached the Supreme Court challenging the Punjab and Haryana High Court judgment declaring Section 147A of the Income Tax Act, 1961, unconstitutional.The matter was mentioned before Chief Justice of India Surya Kant by Additional Solicitor General N. Venkataraman, appearing for the Union. The ASG sought urgent listing of the Special Leave Petition, stating that the High Court ruling had created a legal vacuum concerning income tax reassessment proceedings. The Chief...

LiveLawBiz: Corporate Legal News Daily Round-Up: September 15, 2026

IBCIBC Can Apply To Personal Guarantors Residing Abroad, Nationality No Bar: NCLT ChennaiNCLT Ahmedabad Rejects Benzo Chem's Insolvency Plea Against Aether Industries Over Pre-Existing DisputeMere Inclusion Of Company's Name In Loan Documents Not Enough To Trigger Insolvency: NCLT DelhiBombay High Court Rejects Patanjali Foods' Reliance On NCLT Plan To Oppose Impleadment In Labour CaseProfessional Entitled To Fees Based On Work, Payment Can't Rely On Court-Fee Refund: NCLT MumbaiIPRDelhi High...