SC in G.T. Girish Vs Y. Subba Raju (D) By LRs judgment dated 18th Jan 2022 held that Subordinate Legislation in the form of Statutory Rules is a ‘law’ u/s 23 of Indian Contract Act


Matter involving large scale State Revenues should be disposed speedily Dalmia Refractories Limited Vs State of Tamil Nadu (Madras High Court) dated 11/01/2022


One Time Settlement (OTS) of Bank Loan is Not a Right of Borrowers held by SC in
matter of Bijnor Urban Cooperative Bank Limited dated 15/12/2021


SEBI impose penalty for dealings in illiquid Stock Options at the BSE In Re Ashok Kumar Sharma HUF (SEBI) -23/12/2021


Taxation

Rajasthan HC disposes Plea seeking extension of due dates till portal Glitches removed

Tax Bar Association Vs Union of India (Rajasthan High Court) dated 12/01/2022

If AO accepts objections of assessee and does not assess or reassess the income which was the basis of notice than he cannot made additions on other issues

Yashoda Shivappa Nagangoudar Vs ITO (Bombay High Court) dated 05/01/2022

Provisional custom duty paid by Assessee cannot be treated as deposit

Nirma Ltd Vs C.C.-Jamnagar(prev) (CESTAT Ahmedabad) dated 13/01/2022

Bombay HC in Vodafone Idea Ltd. Vs ACIT dated 03/01/2022 held-

Reopening of Assessment not permissible to take another view on same material

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Regards,

Bipul Kumar