In accordance with Section 121(r) of the Finance Act, 2019, the term “quantified” refers to a written communication of the amount of duty payable under an indirect tax enactment. According to the bench of Delhi High Court, a unilateral quantification by the petitioner does not qualify the assessee to benefit from the scheme because it...Read More

The Supreme Court has ruled that the issue of Approver being cross-examined as a witness in the Court of the Magistrate as required by Section 306 (4)(a) of the Code of Criminal Procedure does not arise when the Special Court elects to take cognizance directly under Section 5(2) of the Prevention of Corruption Act. Every...Read More

The assets owned by a third party but in the hands of the Corporate Debtor held according to contractual arrangements are excluded from the definition of “assets” under Section 18 of the IBC, according to a Bench made up of Justices V. Ramasubramanian and Pankaj Mithal, although the stated exclusion does not apply to Section...Read More