No Bar to Suit for Recovery of Property Tax against Sick Company if it does not Affect Company's Revival Scheme: Supreme Court in the case of Fertilizer Corporation of India [Read Judgement]
In the case of Fertilizer Corporation of India, the Supreme Court held that there is no bar for recovery proceedings of property tax against the Sick...
Limitation on Number of Audits per Year by CA: Supreme Court upholds Operation of ICAI Rule w.e.f. April 1, 2024
On Friday, May 17, the Supreme Court upheld a rule issued by the Institute of Chartered Accountants of India (ICAI) that limits Chartered Accountants to a maximum of 60 tax audit assignments per...
Relief to EMBIO Ltd: Supreme Court rules S. 11(2) of FT Act Does Not Authorise Penalty Imposition for Export Obligation Breach under Licence [Read Judgement]
The Supreme Court, while granting relief to EMBIO Ltd ruled that penalty cannot be imposed under Section 11(2) of the Foreign Trade (Development and Regulation) Act, 1992 for not fulfilling the...
Supreme Court to Hear SLP against Gameskraft Challenging Karnataka HC decision on July 15, Alongside Transferred Cases [Read Judgement]
The Supreme Court has listed the Special Leave Petition ( SLP ) filed by the Directorate Genetral of Goods and Services Tax Intelligence ( DGGI ) against the Gameskraft Technologies Private Ltd...
Labelling or Re-labelling Cartons Constitute 'Manufacture' under Central Excise Act for Cenvat Credit and Rebate: Supreme Court [Read Judgement]
The Supreme Court has ruled that the labelling or re-labelling or putting additional labels to the containers amounted to ‘Manufacture’ for Cenvat Credit and rebate under Central Excise Act, 1944....
![Labelling or Re-labelling Cartons Constitute Manufacture under Central Excise Act for Cenvat Credit and Rebate: Supreme Court [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2024/05/Supreme-Court-Labelling-cartons-Cenvat-Credit-Re-labelling-cartons-taxscan.jpg "Labelling or Re-labelling Cartons Constitute Manufacture under Central Excise Act for Cenvat Credit and Rebate: Supreme Court [Read Judgement]")
Update on Multinational Accounting Firms vs Institute of Chartered Accountants of India Tussle: ICAI responds to Queries, says Action under Statutory Powers
In response to recent inquiries regarding disciplinary actions against Big 4 affiliates, the Institute of Chartered Accountants of India ( ICAI ) issued a comprehensive statement outlining its...
No Liability on Advocates for Deficiency of Services under Consumer Protection Act: Supreme Court [Read Judgement]
Recently, the Supreme Court made a significant ruling that advocates cannot be held liable under the Consumer Protection Act 1986 (as re-enacted in 2019) for deficiency of services. The Court held...
PILs cannot Serve Private Causes: Delhi High Court dismisses PIL on PMLA Section 66 Interpretation, Directs Parties to Pursue Proper Legal Channels [Read Order]
The Delhi High Court has held that Public Interest Litigations ( PILs ) cannot be used for private causes, confirming the limitations of PILs and affirming the need for parties to pursue proper legal...
