Tax Annual Digest 2024

SARFAESI Act | Charge Of Secured Creditor Will Precede Over The Charge Based On Dues Of Sales Tax: Gujarat High CourtThe Gujarat High Court has reiterated that the charge of the Secured Creditor will precede over the charge of an Unsecured Creditor.The ruling came in a writ petition whereby the core issue raised was - 'Who will have the first charge over the property in question i.e. Secured Creditor or the State / Central Government (Crowns debt) on account of non-payment of dues of the Sales...

IBC Weekly Round-Up: 30th December 2024-5th January 2025

Nominal Index Adroit Pharmaceuticals Pvt. Ltd. Through Its Director Sanjay Kukreja Vs. Amit Poddar Resolution Professional & Ors., Company Appeal (AT) (Insolvency) No. 1274 of 2024 Super Floorings Pvt. Ltd. Vs. Napin Impex Ltd., Company Appeal (AT) (Insolvency) No. 1928 of 2024 & I.A. No.7115 of 2024 Mr. Tajinder Singh Bhathal vs. MRF Limited & Ors., Company Appeal (AT) (CH) No. 94/2023 (IA No.1191/2023) MOHAMMED ENTERPRISES (TANZANIA) LTD. VERSUS FAROOQ ALI KHAN...

Tax Weekly Round-Up: 30th December 2024 - 5th January 2025

SUPREME COURT Motor Accident Claims - Tax Returns Can Be Accepted To Determine Income Only If They Are Appropriately Produced : Supreme Court Case name: New India Assurance Co. Ltd. V. Sonigra Juhi Uttamchand. Case no.: SLP (C) No. 30491 of 2018 The Supreme Court, recently (on January 02), while deciding a motor accident compensation claim case, observed that monthly income could be fixed after taking into account the tax returns. However, the details of tax payment must be...

Arbitration Cases Annual Digest 2024

Supreme Court Supreme Court Issues Notice On Plea Challenging Validity Of Section 3G Of National Highways Act Case Title: B.D. Vivek v. Union of India, Writ Petition Civil No. 1364 of 2023 The Supreme Court Bench of Justices B.V. Nagrathna and Ujjal Bhuyan has issued notice on a writ petition challenging the Constitutional Validity of Section 3G of the National Highways Act, 1956. The writ petition questions the legality of Section 3G(5) of the Act. This section mandates...

Tax Monthly Digest: December 2024

SUPREME COURT Subsequent Purchaser Of Imported Vehicle Cannot Be Asked To Pay Customs Duty; Liability On Importer : Supreme Court Case Title: Nalin Choksey v. The Commissioner Of Customs, Kochi The Supreme Court ruled that the 'subsequent purchaser' of an imported motor car cannot be called an 'importer' to attract the liability under the Customs Act, 1962 to pay customs duty on the import of the vehicle. The bench comprising Justice BV Nagarathna and Justice N Kotiswar Singh...

Annual Digest Of IBC Cases: 2024

Supreme Court IBC | Moratorium Under S 14 No Bar To Execute Decree Against Directors/Officers Of Corporate Debtor: Supreme Court Case Title: Ansal Crown Heights Flat Buyers Association (Regd.) vs. M/S. Ansal Crown Infrabuild Pvt. Ltd. & Ors. Citation: 2024 LiveLaw (SC) 63 The Supreme Court has held that the imposition of moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) has no effect on the execution of a decree against the Directors or...

IBC Monthly Digest: December 2024

SUPREME COURT IBC | Financial Creditor Can Submit Claim Even If There Is No Default Of Debt : Supreme Court Case Title : China Development Bank vs Doha Bank OPSC and others Citation : 2024 LiveLaw (SC) 1029 The Supreme Court has observed a default is not necessary for a debt to become a financial debt under the Insolvency and Bankruptcy Code, 2016. A bench comprising Justice Abhay S Oka and Justice Augustine George Masih held that under Section 5(7) of the IBC, any...

Annual Digest Of Real Estate Cases: 2024

Ministry of Housing and Urban Affairs (MOHUA) The Ministry Of Housing And Urban Affairs Releases Report On The Implementation Status Of The Real Estate (Regulation & Development) Act The Ministry of Housing and Urban Affairs (MOHUA) has released the implementation status report of the Real Estate (Regulation & Development) Act, 2016, commonly known as RERA, in India. Karnataka High Court Karnataka HC Directs State Government To Appoint Chairperson And Members To...

Real Estate Monthly Digest : December 2024

Haryana Real Estate Regulatory Authority Haryana RERA Directs Anant Raj Builders To Pay Interest, Execute Conveyance Deed In Favor Of Homebuyer Case – Mohit Bansal Versus M/s. Anant Raj Ltd Citation – Complaint No: 6493 Of 2022 Haryana Real Estate Regulatory Authority (Authority) bench comprising of Ashok Sangwan (Member) has directed M/s. Anant Raj Ltd to pay interest for delay and execute conveyance deed in the favour of Homebuyer. Delay Of More Than 2.7 Years In...

Arbitration Cases Quarterly Digest: October To December 2024

Supreme Court Arbitral Award Must Carry Post-Award Interest As Per S. 31(7)(b) : Supreme Court Case Title: R.P. GARG VERSUS THE CHIEF GENERAL MANAGER, TELECOM DEPARTMENT & ORS., CIVIL APPEAL NO. 10472 OF 2024 Citation : 2024 LiveLaw (SC) 794 The Supreme Court held that the post-award period shall carry a rate of interest decided as per Section 31(7)(b) of the Arbitration & Conciliation Act, 1996 (Arbitration Act). “For the reasons to follow, while allowing the appeal...

Monthly Digest Of Arbitration Cases: December 2024

Supreme Court S. 14 Limitation Act Applicable To Proceedings Under Arbitration & Conciliation Act : Supreme Court Case : Kirpal Singh Vs Government Of India Citation : 2024 LiveLaw (SC) 970 The Supreme Court has held that Section 14 of the Limitation Act, 1963 is applicable to the Arbitration and Conciliation Act, 1996. Section 14 of the Limitation Act provides for the exclusion of the time spent in pursuing bona fide proceedings in a wrong forum from the computation of...

IBC Weekly Round Up [23rd December-29th December 2024]

NOMINAL INDEX China Development Bank vs Doha Bank OPSC and others, 2024 LiveLaw (SC) 1029 Ram Kishor Arora, Suspended Director of Supertech Ltd. vs. Union Bank of India & Anr., Company Appeal (AT) (Insolvency) No. 406 of 2022 & Interlocutory Application No.6557 of 2024 Harpal Singh Chawla (Suspended Director of Spaze Towers Pvt. Ltd.) Versus Vivek Khanna & Ors., Interlocutory Application No.7853 of 2024 in Company Appeal (AT) (Insolvency) No. 2002 of 2024 Mr. ...