Only Civil Court Can Extend Arbitration Time Even When Arbitrator Is Appointed By High Court: Supreme Court

The Supreme Court has held that an application seeking extension of time for an arbitral tribunal under Section 29A of the Arbitration and Conciliation Act lies before the civil court, even in cases where the High Court has appointed the arbitrator. The court clarified that the High Court's role ends with the appointment of the arbitrator and does not continue during the arbitration. A Bench of Justice Pamidighantam Sri Narasimha and Justice R. Mahadevan said the jurisdiction exercised by a...

LiveLawBiz: Business Law Daily Round-Up: January 29, 2026

TAX ITAT Bench Can't Sit Over Its President's Order Transferring Cases: Delhi High Court Restores Sahara AppealsSupreme Court Issues Notice On Union's Appeal Against Bombay High Court Ruling On IGST PenaltiesTax Additions For Unsecured Loans Unsustainable Where Lender Creditworthiness Is Proven: ITAT MumbaiPolice Can't Debit-Freeze Accounts Without Magistrate's Order: Delhi High Court Grants Relief To Malabar GoldDelhi High Court Refuses To Interfere With Dismissal of Senior Auditor In CAG...

Economic Survey 2025-26: GST 2.0 Delivers Stable Revenue As Transactions Rise

The Economic Survey 2025–26 said GST revenues remained steady following rate rationalisation under the GST 2.0 framework.Gross GST collections during April to December 2025 stood at Rs 17.4 lakh crore, registering a year-on-year growth of 6.7 percent, the Survey noted. It added that GST revenue growth broadly tracked nominal GDP growth during the period. The Survey also pointed to strong transaction activity, with cumulative e-way bill generation rising 21 percent year-on-year during the same...

Economic Survey 2025–26 Signals Next Phase of Tax Reforms

The Economic Survey 2025–26, tabled by Union Finance Minister Nirmala Sitharaman on Thursday, sets out the government's next set of tax priorities, with the emphasis on simplification, greater consistency, and cleaning up remaining issues across the tax system. On the direct tax side, the Survey notes that the Income Tax Act, 2025, will come into force on April 1, 2026, and apply from the tax year 2026–27. Alongside this, the Survey points to efforts to rationalise the tax treatment of...

Calcutta High Court Holds Amazon Not Liable For Brokerage Claim Without Signed Agreement With Pioneer

The Calcutta High Court has recently held that mere exchange of emails and incorporation of modifications in draft terms cannot, by itself result in a legally enforceable contract, particularly when the parties clearly intended execution of a written agreement.Justices Debangsu Basak and Md. Shabbar Rashidi allowed an appeal filed by Amazon Seller Services Pvt Ltd, which had challenged a trial court decree passed in favour of Pioneer Property Management Ltd. over alleged unpaid brokerage and...

'Would US Courts Do the Same?' Supreme Court Questions Pfizer On Plea To Access Indian Company's Documents

The Supreme Court on Thursday questioned whether foreign courts and Western authorities would reciprocate when Indian courts seek assistance through Letters Rogatory, while hearing a plea by US pharmaceutical major Pfizer. A Bench of Chief Justice of India Surya Kant and Justice Joymalya Bagchi was considering Pfizer's challenge to a Madras High Court judgment refusing to enforce Letters Rogatory issued by a United States court to obtain documents and testimony from Chennai-based Softgel...

Banks Must Examine MSME Restructuring Claims Before Proceeding Under SARFAESI: Calcutta High Court

The Calcutta High Court has recently held that once an MSME borrower raises a restructuring claim in reply to a SARFAESI demand notice, the bank cannot carry on with recovery proceedings without first taking a decision under the RBI's revival framework. Justice Krishna Rao said the obligation on the bank is mandatory when such a claim is made with reasons and an affidavit. “It is mandatory on the part of the bank that, in reply, if the borrower claims benefit of the FRAMEWORK with reasons...

Supreme Court Grants Time As Telsonic, Roop Ultrasonix Explore Settlement Over Rights Issue

The Supreme Court on Wednesday granted additional time to the parties in a dispute between Telsonic Holding AG and Roop Ultrasonix Ltd after they informed the court that they were trying to reach an amicable settlement. The court was hearing appeals filed by Telsonic Holding AG challenging a National Company Law Appellate Tribunal (NCLAT) order that had set aside an earlier ruling of the National Company Law Tribunal (NCLT) Mumbai relating to a rights issue by Roop Ultrasonix. A bench of...

Supreme Court Issues Notice On Union's Appeal Against Bombay High Court Ruling On IGST Penalties

The Supreme Court recently issued notice on a Special Leave Petition filed by the Union government challenging a Bombay High Court ruling, which held that, prior to a 2024 amendment, the Customs Tariff Act did not permit the levy of interest, penalty, confiscation, or redemption fine on Integrated Goods and Services Tax collected on imported goods.A bench of Justice K.V. Viswanathan and Justice Vipul M. Pancholi passed the order after hearing the Additional Solicitor General for the Revenue and...

Supreme Court Stays Probe Into Exclusive Capital, Allows NCLAT Proceedings To Continue

The Supreme Court on Tuesday stayed the investigation ordered into the affairs of Exclusive Capital Limited, an NBFC, while issuing notice in an appeal filed by the company and its promoters. It, however, clarified that the proceedings pending before the National Company Law Appellate Tribunal have not been stayed and would continue in accordance with law. A bench of Justices Sanjay Kumar and K. Vinod Chandran directed that the investigation initiated pursuant to the order passed by the...

Supreme Court Refuses To Interfere With Delhi High Court Order Quashing SFIO Probe Into Moser Baer

The Supreme Court on Tuesday declined to interfere with the Delhi High Court's decision quashing a Serious Fraud Investigation Office probe into Moser Baer India Limited, holding that the High Court committed no error in setting aside the government's order directing the investigation. A Division Bench of Justice Prashant Kumar Mishra and Justice N.V. Anjaria dismissed the Special Leave Petition filed by Karanartham Viramah Foundation. After hearing the petitioner, the Bench said it was...

LiveLawBiz: Business Law Daily Round-Up: January 28, 2026

TAX Imported Parts Alone Don't Justify Higher Sales Tax On Car Audio Systems: Madras High Court“Very Easy To Blame A Professional”: Delhi High Court Rejects Plea To Restore GST Registration Blaming CACESTAT Allows Service Tax Refund Claims of Nokia Solutions' Sriperumbudur SEZ UnitDelhi High Court Says Impermissible Foreign Tax Reference Can't Extend Limitation For Search AssessmentsSupreme Court Upholds Odisha Entry Tax Act, Dismisses Tata Sponge Iron's ChallengeTax Authorities Must Return...