A revised return u/s 139(5) can be filed only in a case where there is an omission or a wrong statement but not for withdrawing a claim: Supreme Court in Wipro
The Supreme Court has held in Principal Commissioner of Income Tax-III, Bangalore Versus M/s Wipro Limited CIVIL APPEAL NO. 1449 OF 2022 that an assessee...
Taxability of capital gains from penny stocks: Burden is on the taxpayer to prove fanciful rise in stock price is genuine
The Honourable Calcutta High Court has held that the onus is on the assessee to establish the genuineness of the price hike in the case...
CBDT Notifications Clarify whether Gift card or vouchers, Mileage points, reward points, Subscriptions etc are taxable as Virtual Digital Assets
The law on taxation of Virtual Digital Assets (VDAs) under the Income-tax Act, 1961 has been ushered in by the Finance Act, 2022. Briefly, the...
Taxability of salary reimbursed under a secondment agreement. Karnataka High Court clarifies law in Flipkart-Walmart case
The Karnataka High Court has analyzed the law regarding the taxability of sums reimbursed to a foreign party under a Secondment Agreement in the case...
Borrower can stall auction proceedings under the SARFAESI Act and restrain the secured creditor/bank from selling the property only if he deposits the entire dues
If the bank has already initiated the proceedings under Section 13 of the SARFAESI Act and even the possession of the mortgaged property was taken...
Courts have power to mould relief to lender and borrower under the SARFAESI Act
The question as to whether courts and judicial authorities have the power to mould relief to the lender or the borrower under the SARFAESI Act...
The conduct of the Borrower can show waiver & he is estopped for arguing violation of Section 13(3A) of the SARFAESI Act: Supreme Court
The Supreme Court was considering the question whether a borrow can be regarded as having waived his rights by inaction and whether he is estopped...
Taxation of lotteries: Supreme Court clarifies the law whether State Legislatures have legislative competence to impose tax on lotteries conducted by other States in their State
The Court also held that lottery schemes by the Government of other States are organised/conducted in the State of Karnataka or Kerala and there are...
Bombay High Court Cause List and sitting list
Download the cause list and sitting list of the Bombay High Court. If you need any specific information or advice, ask in the comments box...
Supreme Court Guidelines On Payment Of Maintenance In Matrimonial Matters
In <a href="https://lawministry.in/pdfdownload/rajnesh-versus-neha-supreme-court-order-on-matrimonial-maintenance/">RAJNESH VERSUS NEHA</a>, the Supreme Court has stated that it shall frame guidelines on payment of maintenance in matrimonial matters...