Income Tax | Taxpayers Cannot Raise Fresh Claims Based On New Facts In Revision Proceedings: Supreme Court

The Supreme Court has recently reiterated that taxpayers cannot use revision proceedings to introduce fresh claims based on facts that were never placed before the Assessing Officer, bypassing the deadline for filing a revised income tax return.A bench of Justices Prashant Kumar Mishra and Shree Chandrashekhar held that the revisional authority can entertain a new question of law, but cannot consider a claim that goes beyond the facts available to the Assessing Officer.“In our considered view,...

Supreme Court Grants Bail To Concast Steel MD Sanjay Surekha In ₹6,210 Cr PMLA Case

The Supreme Court on Wednesday granted bail to Sanjay Kumar Surekha, Chairman and Managing Director of Concast Steel and Power Ltd. (CSPL), in a money laundering case involving alleged proceeds of crime worth ₹6,210.72 crore.The Supreme Court on August 12 reserved its judgment on Sanjay Surekha's challenge to the Calcutta High Court's November 14, 2025 order rejecting his bail plea in a money laundering case involving alleged proceeds of crime worth ₹6,210.72 crore. A Bench of Justices...

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

IBCSecured Creditors Cannot Keep Asset Realisation Deadline Open-Ended During Liquidation Citing Recovery Proceedings: NCLT HyderabadCoC Approval Cannot Cure Resolution Plan's Failure To Meet Mandatory IBC Requirements: NCLATBankrupt's Jewellery Handover To Son Not Preferential Merely Because It Occurred Within Look-Back Period: NCLT JaipurNCLT Delhi Admits Yes Bank Plea Against Johnson Watch Guarantor, Says SARFAESI Notice Invokes GuaranteeNCLT Dismisses APL Apollo Tubes' Insolvency Plea...

Madras High Court Restrains Online Piracy Of Rajinikanth's 'Jailer 2' Ahead Of Release

The Madras High Court on Tuesday restrained unauthorised copying and streaming of Rajinikanth-starrer Jailer 2, scheduled for release on October 15, in an interim injunction granted to producer Sun TV Network Limited. Justice P.B. Balaji, by an order dated October 13, also directed internet service providers and other concerned service providers to block access to identified piracy websites and additional mirror, redirect and alphanumeric URL variants notified by Sun TV or its authorised...

LiveLawBiz Indirect Tax Weekly Round-Up: October 05 - October 11, 2026

SUPREME COURTTax Classification Depends On Form Of Goods At Sale, Not End Use: Supreme CourtCase Title : Additional Commissioner, Commercial Tax & Ors. v. Cadila Health Care Ltd. & Anr. Case Number : Civil Appeal Nos. 9788–9789 of 2013 CITATION : 2026 LLBiz SC 327The Supreme Court has held that a product must be classified for tax purposes in the form in which it is sold, rather than on the basis of what a consumer may later turn it into. “The tax authorities are bound to look at what...

LiveLawBiz Direct Tax Weekly Round-Up: October 05 - October 11, 2026

SUPREME COURTSupreme Court Refuses To Interfere With Delhi HC Order Reading Down CBDT Circular On AIF TaxationCase Title : THE CENTRAL BOARD OF DIRECT TAXES VS. EQUITY INTELLIGENCE AIF TRUST Case Number : DIARY NO. - 2801/2026The Supreme Court on Wednesday refused to interfere with the Delhi High Court judgment reading down CBDT Circular No.13/2014 concerning taxation of Category-III Alternative Investment Funds (AIFs) at the Maximum Marginal Rate (MMR). Allowing Equity Intelligence's writ...

Andhra Pradesh High Court Strikes Down Section 147A Of Income Tax Act As Unconstitutional

The Andhra Pradesh High Court on Monday struck down Section 147A of the Income Tax Act, 1961, as unconstitutional. Introduced retrospectively through the Finance Act, 2026, the provision clarifies that Jurisdictional Assessing Officers (JAOs), rather than the National Faceless Assessment Centre or an assessment unit, can act as the Assessing Officer for issuing reassessment notices under Sections 148 and 148A.A division bench of Justice Ninala Jayasurya and Justice T.C.D. Sekhar held that the...

LiveLawBiz: Corporate Legal News Daily Round-Up: October 12, 2026

IBCDisputed Interest Does Not Bar Section 9 IBC Plea If Principal Debt Exceeds ₹1 Crore: NCLT AllahabadHomebuyer Insolvency Threshold Must Be Based on Actual Bookings, Not Proposed Units: NCLT KolkataNCLT Admits Siemens Financial Services' Plea Against Personal Guarantor, Says Prior CIRP Not RequiredDissenting Secured Creditors Entitled To Minimum Payment Based On Security Value: NCLT MumbaiIPRDelhi High Court Sets Aside Refusal To Register 'COBBLE STONE' TrademarkDelhi High Court Restrains...

LiveLawBiz IBC Weekly Digest: October 5 - October 10, 2026

SUPREME COURTSupreme Court Allows Creditor Who Suffered 99.28% Haircut In CIRP To Claim Full Set-Off In ArbitrationCase Title : Modern Asset Versus KNK Construction Private Limited. Case Number : Special Leave Petition (C) No.25068 of 2026 CITATION : 2026 LLBiz SC 329The Supreme Court has held that an operational creditor who suffered a 99.28% haircut under an approved resolution plan can use its entire ₹12.26 crore claim to set off amounts found payable to a successful resolution applicant...

How A Nation Taxes Its People Reflects Who Deserves Liberty, Right To Love: Same-Sex Partners Tell Karnataka HC In Tax Exemption Case

A same-sex couple has argued before the Karnataka High Court that the Income Tax law effectively makes them pay tax for expressing love for their partners, while married couples can exchange gifts without the same tax burden. Arguing that a nation's tax laws reflect the values it upholds, Advocate Dr. Dhruv Janssen Sanghvi, in a rejoinder, appearing for Anurag Kalia and Akhilesh Godi, a same-sex couple, submitted that excluding same-sex partners from the gift-tax exemption available to spouses...

LiveLawBiz RERA Cases Weekly Digest: October 5 - October 10, 2026

NOMINAL INDEXRensar Infra Private Limited v. Rais Kasam Shaikh & Ors., 2026 LLBiz HC (BOM) 550 M/s Selene Estates Limited v. M/s Green Apartment Owners Welfare Association – Jalladianpettai & Others, 2026 LLBiz REAT (RJ) 76 Sachin Prakash Dhavle, Authorised Partner, M/s P.R. Builders & Developers v. Maharashtra Real Estate Regulatory Authority & Ors., 2026 LLBiz REAT (RJ) 75 Vikas Gupta v. IREO Waterfront Private Limited & Anr., 2026 LLBiz RERA (PB) 148 Cherukuri Hema...

LiveLawBiz Arbitration Cases Weekly Digest: October 5 - October 10, 2026

NOMINAL INDEXIngram Micro India Private Limited v. Best Hawk Infosystems Private Limited, 2026 LLBiz HC (BOM) 556 VVAA Films Private Limited v. DUNE Collective LLP, 2026 LLBiz HC (BOM) 555 R.A. Ghule, through its Sole Proprietor Rajabhau Apparao Ghule v. Sinnar Municipal Council & Ors., 2026 LLBiz HC (BOM) 552 Girish Narang v. Virendra Arora & Ors., 2026 LLBiz HC (BOM) 560Empire Realty v. Virani Tower Cooperative Housing Society Ltd. & Ors., 2026 LLBiz HC (BOM) 548 Small...